The 12-Year-Old Miner

Scott,

My 12-year-old son wants to become a Bitcoin miner. He wants to purchase a special device for $120 and believes he will earn around $30 a day. We have researched online and based on the power consumption of the unit, he will be lucky to make even $1 a day, as the difficulty level is extremely high. What is your opinion of Bitcoin mining ? Is it worth the effort or expense? I am more worried about the risk of the house burning down or having our computers hacked. 

Bec

Hi Bec,

A dollar a day is maybe on the high side … however if my kid was more interested in Bitcoin than, say, Fortnite, I’d be mining that hobby for everything it’s worth. So double down on antivirus software, keep a fire extinguisher at the ready, and HODL away!

Scott