Kate and her friends discovered they could magic cash out of nearly nothing, simply by building bitcoin mining machines housed in plastic crates and letting them do their money-making stuff. She then learned about the world of virtual stock exchanges….
Along my journey I had discovered that there were virtual securities exchanges games where one could float a virtual stock or bond quoted in crypto-currencies, and this too intrigued me. I decided I was going to need some help, so rounded up a few more techies, two of whom I’d met on the bitcoin forums and another two who are work colleagues. They all agreed to help me out in their spare time in exchange for shares in my planned virtual company. Next, while on a scuba holiday between dives, I made a business model and plan for our new company, “CipherMine”. After crunching the numbers, my model was forecasting that with an extra £25,000 investment, we could be making £20,000-£30,000 per month profit from mining by the end of the year. It looked like we had a virtual business with potential.
Sure enough, Kate’s subsequent flotation of CipherMine went swimmingly, with the price doubling since the IPO last week. She’s now worked out that from her dividends alone she’ll be able to cover all her costs by October…
I still don’t quite believe it and there is a very real possibility that all the value could vanish in a puff of logic. However, I started this as a hobby and in many ways it still is. I’ve learned a lot and had fun along the way, so if that’s all it comes to, I’ll be content. I cannot help but be quietly optimistic though.
The Guardian has even gone to the trouble of setting up a “personal” site for Kate — female entrepreneur, technology speaker and green IT expert. Click the image.