When survey participants are asked if they believed most people would be using Bitcoin within the next ten years, the results are not surprising.
Older people are, unsurprisingly, pessimistic about this event occurring, while young people are optimistic. However, all age groups have grown optimistic on this question over just two years.
- How Much Can I Expect to Make With a Bitcoin Robot?
- Additional verification with reproducible builds
- How Many People Know About Bitcoin?
- How Many Daily Users of Bitcoin?
- Dean Solon built a staggering fortune by not making his products in China, even though that’s what nearly everyone else in the field does—and he’s all too willing to share his winning strategy.
- How to Trade on a Bitcoin Robot
- Why do celebrities get associated with bitcoin robots?
- Are Bitcoin Robots Scam or Legit?
- Bitcoin Robots and Possible Risks
How Much Can I Expect to Make With a Bitcoin Robot?
The majority of top bitcoin robot software out there promise to help investors make a minimum profit of $10,000 per day. However, the returns depend on the invested capital. CryptoSoft, for instance, guarantees investors an average profit of $13000 per day. InsideBitcoins cannot guarantee the truthfulness of these claims, but it appears that most traders who have tried them are happy with the outcome.
Fintech Limited is another popular bitcoin robot claiming to make overnight millionaires out of ordinary people through crypto-trading. Some of the people in their review section report to have made thousands of dollars in less than a week out of an initial investment of $250. Fintech Limited categorically states that individual profits depend on their invested capital. The more the invested capital, the higher the returns.
- Mathematical formulas
A trading algorithm can be identified as a mathematical formula of a predetermined trading strategy. In AI and ML-based algorithms, the mathematical formula keeps improving as it is subjected to more market data. In other words, the more it trades, the more accurate it becomes.
Additional verification with reproducible builds
Experienced users who don’t mind performing additional steps can take advantage of Bitcoin Core’s reproducible builds and the signed checksums generated by contributors who perform those builds.
Reproducible builds allow anyone with a copy of Bitcoin Core’s MIT-licensed source code to build identical binaries to those distributed on this website (meaning the binaries will have the same cryptographic checksums as those provided by this website).
Verified reproduction is the result of multiple Bitcoin Core contributors each independently reproducing identical binaries as described above. These contributors cryptographically sign and publish the checksums of the binaries they generate.
Verifying that several contributors you trust all signed the same checksums distributed in the release checksums file will provide you with additional assurances over the preceding basic verification instructions. Alternatively, reproducing a binary for yourself will provide you with the highest level of assurance currently available. For more information, visit the project’s repository of trusted build process signatures.
Bitcoin Core is a community-driven free software project, released under the open source MIT license.
How Many People Know About Bitcoin?
About 90% of Americans have heard of Bitcoin.
88% of Japanese and 93% of Brits.
Another report puts the number at 66% of Europeans having heard of Bitcoin, with 78% in Poland and 79% in Austria.
In China, some 40% of Chinese are interested in investing in Bitcoin.
It’s quite clear that developed countries’ populations are at minimum quite aware of Bitcoin.
Based on the numbers above, it would seem there are at least 2 billion people that have heard of Bitcoin.
How Many Daily Users of Bitcoin?
This section discusses on-chain Bitcoin users. It does not include transactions taking place on exchanges or centralized services.
The Bitcoin network processes more than 270,000 transactions per day.
This number is deceiving, since one transaction can have multiple recipients.
There are between 700,000 and 1,000,000 active addresses per day. This means there are, likely, 300,000 – 500,000 unique users either sending or receiving Bitcoin per day. The chart below shows that going in to 2022 the monthly active addresses is around 30 million.
Kevin Rooke also offers some interesting data points on total number of days that exceed 1,000,000 active addresses.
In March of 2021, daily active addresses dropped to around 720,000 active addresses.
This is all despite a rising price, indicating that people are not moving funds around and are perhaps choosing to hold their positions to acquire deeper gains.
Note: Many people use Bitcoin as part of their investment strategy. So money parked in Bitcoin is “using” it as long-term savings. “Using it” doesn’t necessarily mean making transactions every day. This is why we also have to look at the number of bitcoins in wallets.
Dean Solon built a staggering fortune by not making his products in China, even though that’s what nearly everyone else in the field does—and he’s all too willing to share his winning strategy.
At Shoals Technologies’ 100,000-square-foot factory in Portland, Tennessee, Dean Solon’s quest for simplicity starts with the color-coded shirts, inspired by Sesame Street, that his workers wear. “The SunPower logo was yellow, so that’s Big Bird. First Solar was red, for Elmo,” he says. Those working on an order for Blattner Energy, a big solar contractor, sport Cookie Monster blue. “And then we have the Count, in purple. He’s always counting. Those are the quality control people.”
Shoals’ nonunionized workers at four factories in Tennessee and Alabama make the guts for big solar installations—basically, everything you need other than those shiny photovoltaic panels and the inverters necessary to feed power onto the grid. They craft cable assemblies, combiner boxes, external fuses. It’s exactly the sort of unsexy manufacturing that nearly everyone thinks fled to China years ago.
Indeed, most of Solon’s competitors are Chinese companies like GCL System Integration and Wuxi Sun King. The Chinese-made components are cheaper than Shoals’, but Solon has an edge: His stuff is seen as safer, more reliable and easier to install. That means companies are willing to pay 5% to 10% more for it, believing they’ll make up for it in lower labor and maintenance costs. Last year, that premium added up to earnings of $34 million on $176 million in sales. After a January IPO, the 57-year-old Solon is worth some $2.2 billion, thanks to his 40% stake in the company and aftertax proceeds from prior equity sales.
To keep that made-in-America premium as low-cost as possible, Solon makes the manufacturing process as foolproof as he can. Screens mounted on the front of each machine show workers how to do each task—from stripping and crimping wires to installing fuses and finishing cable assemblies—with cycle times measured not in man-hours but man-seconds. It’s a “Pavlov’s dog” world, Solon says, in which workers are trained to self-correct when a light atop their station starts blinking, indicating they’ve slipped behind schedule and have about 15 minutes to sort it out before the blinking gets faster and “maintenance” is summoned. They’re told never to worry about messing up. “If this process makes something wrong, shame on us—we designed it wrong, we didn’t bulletproof enough for you not to make mistakes,” he says.
Plant managers sit above the factory floor on a mezzanine platform Solon calls Pride Rock, after the prominent slab in The Lion King. They rarely get involved; teams help one another sort out problems, because if one person slows down for too long, the next in line runs out of parts. “Don’t yell at anyone; let them have a self-win,” Solon says. “I don’t need to squeeze another ten seconds out of them. If the green light is on, we’re making money.”
Solon has taken his family to Disney World twice a year for decades and has long been inspired by the park’s orchestrated perfection: “On the surface everything is calm and happy and serene, but underneath there’s hundreds of people making sure the magic is right.” On a recent trip to Orlando, however, he’s headed not to Disney but to a nearby solar field owned by Origis Energy. On sunny days, this 270-acre installation generates 60 megawatts—enough to provide around a quarter of the Magic Kingdom’s power needs. Michael Eyman, managing director of Origis Services, says Shoals products “are not always the cheapest, but always the best.” Origis tried installing competitors’ gear, “and without exception they all failed in their warranty period.”
Shoals’ “plug-and-play” hardware eliminates the need for a crew of expensive electricians out in the field stripping wires and crimping millions of connections by hand. “We don’t turn our customers’ fields into our proving grounds,” Solon says, showing off a wall of five testing chambers, fridge-size boxes where he can subject prototypes to 40 days and nights of heat, cold and 100% relative humidity.
Solon is the named inventor on 30 granted and pending patents. He owns at least that many pairs of jean shorts, his preferred uniform, along with a black Shoals collared T-shirt. He prides himself on being so uninterested in bean counting and SEC filings that 15 months ago he handed the CEO reins to longtime chief technical officer Jason Whitaker. Solon remains on the board of directors, focusing on new products. Shoals’ chairman, Brad Forth, is also a senior advisor to Oaktree Capital, which bought more than half the company from Solon in 2017 and cashed out $2 billion in the recent IPO. Now that it’s public, is there any impetus to squeeze out a few more margin points by loosening some of Solon’s obsessions? “We are never going to sacrifice quality or reliability for anything,” says Whitaker, 41, “because it’s built into the process itself.”
How to Trade on a Bitcoin Robot
Signing up and trading on a bitcoin robot is pretty straightforward. For this tutorial we will be using Bitcoin Code as an example as in general, the process is similar on most bitcoin robots.
Bitcoin Code is a bitcoin trading robot that claims to help ordinary traders make huge returns on their bitcoin investment with an investment as little as $250. The robot was founded by Steve McKay, a software engineer with over ten years of experience making trading robots.
Bitcoin Code relies on sophisticated computer algorithms to analyze tradable data in the crypto markets and make investment decisions. This automated trading tool is said to have a success rate of 99.4% which is among the highest in the industry. InsideBitcoins has determined that there is an element of risk in this trading tool which means that traders should monitor their accounts at least 20 minutes per day.
1. Go to Bitcoin Code
Most Bitcoin Robots have testimonials and promises on their front page. This is the number one cause of alarm for traders wary of scammers. While it is true that some bitcoin robots have exaggerated testimonials and promises, it does not necessarily mean that they are a scam. InsideBitcoins reviews present an evidence-based approach to help you get the true picture of what to expect with some of these crypto-traders.
2. Fill in the sign up form (registration only takes 2 minutes)
In this age of internet fraud and personal data theft, it is important to ensure that all online registrations are secure. InsideBitcoins analyzes every robo-trader registration process to determine how seriously they take users online security. A secure robo-trader should have an SSL secured website, proper password policy and also a secured database.
The registration process should also correct relevant data only and should give users an option to opt in or out of unsolicited emails. Most legitimate robo-traders require the usernames and email only and do not store sensitive billing information.
Another important thing to pay attention to is how easy the registration process is. A good Bitcoin robot should not complicate the registration process with unnecessary verification requirements. Traders should be able to open an account and start trading within a short timeframe preferably less than three minutes.
3. Start your demo trading
Once you have registered, you need to get a feel of the trading platform before going live. The best way to do this is through a demo account. A legitimate bitcoin robot will provide a demo trading tool, but it is not unexpected to find some without. Those with demo accounts also provide backtesting data to demonstrate how the robot works in live trading.
It is important to note that the results obtained in the demo account do not fully represent what you will get in a live account. InsideBitcoins recommends that all beginner traders start with not more than the minimum investment required and only add capital once they are comfortable with their robo-trader.
4. Deposit funds
Most bitcoin robot providers will require you to deposit a minimum capital of 250 (USD or EUR) to access their trading tools including the demo trader. The best robo-traders accept multiple deposit methods including MasterCard, Visa, Wire Transfer, Ok Pay, Skrill, Neteller, Qiwi and others. Also, deposits and withdrawals should be processed within 24 hours and should not incur any charges.
5. Let the bitcoin robot trade for you
All you must do after having deposited is activate the auto-trading function and that’s it! You can forget about it for a few days and you should come back to a nice profit. Don’t be discouraged if you don’t see profits straight away – the crypto markets have high volatility but overall, you should be in the profit!
Click here to try the most popular bitcoin robot, Bitcoin Code , for yourself, or click below to try the most profitable robot, Bitcoin Prime.
Why do celebrities get associated with bitcoin robots?
For the most part, celebrities do not endorse Bitcoin robots. Most of what you hear about are marketing ploys from robot scams.
Are Bitcoin Robots Scam or Legit?
As you can see, most brokers behind auto-traders are questionable. so InsideBitcoins has tested and verifies brokers based on their years of experience and reputation.
While not all Bitcoin Robots are legit, the concept behind the robots, in general, is legitimate. A good bitcoin robot should be able to beat the markets most of the times and generate considerable returns for the traders. Most crypto-traders in the market today promise investors to make thousands of dollars per day with an initial investment of as little as $250. These results may be achievable with some but not always.
Do not subscribe to a bitcoin robot with the mentality that you will get rich quickly. With some robots, the profits may be small at the beginning but will increase as you upgrade your account. InsideBitcoins reviews give you a true picture of what to expect with different bitcoin robots regarding profitability.
Bitcoin Robots and Possible Risks
What most bitcoin robots providers won’t tell you is that there is a risk in trading with these tools. While the risk is not that big, it is there nonetheless meaning that there is a possibility of losing all your investment. Unlike long-term investments, day trading involves getting in and out of trading positions rapidly which makes it possible to experience huge profits or huge losses.
As a rule of thumb, never trade with an amount that you cannot afford to lose. Always remember that speculative investments should never take more than 10% of your portfolio. We recommend that you start small with bitcoin robots and reinvest your profits as your account continues to grow. The same case should apply for trading robots.
It is important to note that most bitcoin robots promise an accuracy level of 99% and above which when loosely translated means that with their robots, at least 9.9 trades out of 10 are correct. And given that there is no way to confirm this, InsideBitcoins recommends that you do enough due diligence to confirm how often your bitcoin robot of choice delivers these results. The best place to start is by reading our unbiased and comprehensive robot reviews and guides.