I Tried Mining Bitcoin on my Phone

Can you mine bitcoin on your phone I don't know but you could do it on a computer so I feel like you should be able to do it on a phone as well right yeah I mean fair enough and so if it is possible how much can you actually make is it enough to quit your job maybe just a little side income can you maybe at least pay off the price of your phone by mining or even your phone bill can you just have this running at night use your phone during the day and never have to pay another metro pcs bill again no but in this video I want to find the answers to all those questions and if it is a profitable endeavor maybe we can potentially build a giant farm of phones mining bitcoin so I was watching some videos on this topic before I sat down to film and there is surprisingly a good amount of content on YouTube regarding mining bitcoin on your phone specifically but all of these videos are making some crazy claims talking about dollars per day fifty I even saw some hundred dollar per day claims mining bitcoin on your phone now as somebody who runs an illegal bitcoin mining operation I do have some slight knowledge and know that to even make ten dollars per day mining bitcoin you need a fairly serious setup that's going to run you like a couple grand at least or so I thought easiest way to mine bitcoin on your phone for free 100 plus dollars a day sign me up this means that I can pay off my iPhone in about 10 11 days when you tap on that it actually gives you free money and this is with the mining technology in this coin base plus plus app and every time we do this guys we're getting another twenty dollars you you all seeing this yeah let's go ahead and see how long we can do it for so as you guys can see we're already mine eighty dollars’ worth set up I mean and we're instantly making money so ah I can't believe I got fooled into spending like 30 grand on a bitcoin mining grid that's only making 90 bucks a day right now when I could have just downloaded this app for free but anyways guys now go ahead and stop at a hundred dollars that's good enough for me yeah whatever I’ll stop around your bugs that I made in 30 seconds it's good enough for me going to go take a break this is crazy I did not know my phone was capable of solving these complex bitcoin equations at the top of a button I mean let's see how we can download this app I want in asap no rocky this is the last step we have to go ahead and do guys it's going to say download the additional files below to continue so we're going to see like a bunch of apps here and what we have to do is complete every single one of these and that's the catch man's alert us all in with this crazy title and thumbnail promised crazy money I mean had me all the way hooked I was sold all we have to do is download this app but in order to download it you just have to complete a few simple steps got to download like four of these sponsored apps which is nothing given that you'll be financially free for life after you're done right nope not so fast this is actually a very common scheme I won't even call it sneaky I’ve been falling for it since I was like 12 years old there's a lot of these services that promise that you can make money on your phone or laptop by completing surveys maybe downloading a few sponsored apps stuff like that and the people who make these money making apps get paid by companies that need participants for surveys or by other apps like iheartradio will say we need more downloads and in an effort to market their app they'll pay these money-making apps to get them downloads and theoretically these money-making apps will share some of that money with the people who actually download the apps and take the surveys however this video that we just watched is an absolute scam since these people are similarly getting paid by these apps who need downloads and they're not sharing any of that cheese instead they're finessing you into downloading the apps by making fake promises that you'll be granted access to a mining app that will be making you over a hundred dollars per day once you complete the downloads and a lot of the videos I watched in regards to mining bitcoin on your phone were exactly like this one and they're getting hundreds of thousands of views it's crazy some of them were just a little more believable claiming you'll make around five ten dollars per day but it's the same exact scam so watching all those videos I was starting to get discouraged thinking this wasn't going to work out but then I stumbled on ways of mining other cryptos on your phone that weren't bitcoin but still I mean as long as I can mine something and get paid for it who cares what I’m mining right I could always just transfer whatever crypto I’m mining into bitcoin later on there's a few similar apps that promise the same thing but the most prominent one seems to be called pine network and I think the one similar to it saw the success of pi and decided to replicate it I’m not sure who was first though but if that name sounds familiar to you it's because this whole pie network thing was going absolutely viral on tactic a while ago and if something goes viral on tick tock that's a surefire concrete way to know that something is completely legit or so I thought so pi network is an app that promises you can mine crypt on it all you got to do is download the app open it up start signing up using your full legal name the way it appears on your passport which they really emphasize that part but once you're done with that you just have to hop on the app every 24 hours to press a little check in button but before you can check in every day you have to watch a few ads which they're kind of playing off as those ads are helping the pi network project get funded and so in return for signing up checking in watching the ads and allowing them access to your data you earn some of this pi network crypto coin except this isn't a coin that's listed anywhere it's not on any exchanges there is absolutely no way to sell it right now also there is no open source code for the project anywhere online so there is zero proof that they have any block chain tech behind the project combine that with the fact that the earlier you are to the app and the more people you invite to the app the quicker you can mine and things start to get sketchy it's not a pyramid scheme it is an it's not even a scheme per se its they talk about how mining this crypto doesn't drain your battery and it's great for the earth but the reason it's good for the environment and it doesn't drain your battery is because you're not mining there's nothing behind the coin there's no equations to solve like it is with bitcoin it's not using your phone cup it's kind of just numbers on a screen I mean this is a crazy little operation they got going here and because you get paid for referrals everyone is posting about it and going viral but by partaking in this app you're literally giving up your personal data and watching ads for pretty much nothing in return they say that eventually they will take the coin and put it on different exchanges so you could buy and sell it it's going to be the new currency and there's all these people forecasting the price of the coin to skyrocket just trust me bro join under my link but first off we don't know if it will ever actually get listed we don't know if this company has produced anything other than an app that plays ads and a website that they didn't even update the copyright date on six months into the new year and second if somehow it does get listed on an exchange how would it skyrocket the selling volume would be insane everyone who's ever used this app would want to actually get something out of it so they would all go to sell the coin resulting in a crash and who would be on the other side buying up this coin where where would the money come from it's all a faze now this is just all my opinion I’m not making any legal accusations but my boy young beatrizzi aka sabia actually told me that this kind of seems like an elaborate scheme not only to make money off the ads that this app is plagued by but in a more sinister monetization effort they also may be finessing people into giving up their data which this app can then sell for a pretty penny so those are the two main kind of videos you'll see when you search bitcoin mining on your phone on YouTube and then if you search crypto mining on the apple app store or google play store most of the mobile mining apps you'll see are either scams reward programs or cloud mining which is just where you pay to use a company's hardware to mine crypto remotely and then you basically split the profits so you're not mining on your phone with any of those apps that's partly because the crypto space can overall just be pretty scummy but also because in 2018 the apple and google play stores banned apps that actually might encrypt on your device they use your cpu and drain your battery and kind of hurt your device long term so it took a lot of digging I dug deep through so manyreddit posts from years ago filtering through old blogs and videos until finally I found something that might actually work but I can't use it on my iPhone so we're going to have to go out and buy an android phone which was kind of the plan from the get-go I doubt we could pay off an iPhone that I paid more for I think if there's any way this operation could be profitable it's if we get a bunch of cheaper used android phones off craigslist or eBay or offer up so let's go and do exactly that so once I had a phone purchased and ready to go the initial way I was going to mine didn't work so I started trying all kinds of different ways of mining on it and none of them worked I was pretty close to giving up on the whole idea but then finally I had a little breakthrough and found a cryptocurrency called uplexa which has an android miner application so I downloaded the apk file onto the android we purchased fired it up and it actually seemed to be working now I’m not affiliated with this crypto and I didn't download the miner of the play store so it's super sketchy I wouldn't ever download it onto a device I was actually using this phone I bought specifically for the purpose of mining but I connected the miner application to wallet and it started mining the uplexa cryptocurrency which is currently worth a small fraction of a penny but the price doesn't really matter if we can mine enough of it the coin isn't on any major exchanges but it is on a few smaller sketchier ones so I’m going to let this sucker run for the day and see if it makes any sense to mine crypto on your phone good morning bless up so I let this run for 12 hours I have not slept but in that period of time I was able to mine 28 duplexa tokens so if you multiply that by two we're looking at 56 tokens per day which at the current price of zero three 0.0003 five one of a dollar this phone can mine around two pennies per day we're seven dollars and sixty six cents per year I paid 120 for the phone which means it would take 15 and a half years to pay this phone off and that's before you factor in electricity I use the smart plug to find out how much electricity this phone took while it was mining and it was around a penny per day so if your account for electricity it would take closer to 30 years to pay off this phone so I’ll see you guys when I’m 50. even if you order used phones on eBay they have cracked screens so it's even cheaper and on top of that you plug them into a solar panel charger like this it still wouldn't be worth your time so that answers the question of whether it's a good idea to mine on your phone but I think an interesting follow-up test would be to try building a bitcoin mining farm from used laptops since those actually have gpus in them so if you find enough good deals that could maybe actually work so if you could please dish out a quick sub and I might try that in the near future really curious how that would go but that's it for this article I  hope you guys enjoyed it and I hope that you have an amazing rest of your day peace.