BITCOIN is not, by nature, free. It is after all, a form of currency. And all currency is created in order to transact business. In fact, in the world of value, nothing is free. But considering that BITCOIN has to be mined to extract, and this is not only time consuming, it requires very powerful equipment to be profitable. There is heavy consumption of power and the Miners need to have expertise beyond the reach of the common man. It is indeed quite difficult for ordinary people to lay their hands (figuratively speaking) on the BITCOIN or any of its sister Crypto-currencies, through the medium of Mining. For example, the total number of BTC (BITCOIN) is capped at 21 million, of which 17.3 million are already in circulation, leaving just 3.7 million BITCOIN that can be created or mined till the cap is reached. So Mining becomes progressively more difficult as time goes on, and as Buyers gets nearer to the cap.

So what is the alternative? The only alternative seems to be to get free bitcoin. There are some underhand ways to do this. Scams and Gambling are known ways to acquire BITCOIN by unethical means. Games are another way, while we have already discussed the problems with Mining. The main drawback here is the requirement of substantial resources, preferably in Fiat Currency at present. Finally, there is a method of getting paid directly in BITCOIN. Though this method involves rendering of services in exchange for BITCOIN, it is nominally called as ‘Free’.

Author: Florence