Sunday November 12, 2017
Total BTC mined: 0.33086942
Total BTC mined USD: $2007.50 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $0.00
Overall value dropped to just above $2000 while ROI dropped 3% as Bitcoin lost another $200 overnight to settle around $6070 per coin. While this might be upsetting or dejecting to some, the reality is that when I started this blog, I was expecting Bitcoin to be in the $3000 to $3500 range with break even reached around February. In reality I made up my entire investment and then some after 104 days.
So the short answer is that when you have rampant speculation and a general public eager to double their money then yes, a Bitcoin mining contract will be a great investment that will pay and continue to pay well after you make your money back and then some. Of course ending the blog here would seem pretty shortsighted because I feel there will be a lot of bloodletting and soon.
Those of you that have been following my blog know that I’ve been pretty negative about Bitcoin lately and I assure you it has nothing to do with prices or anything like that. I just feel like the market and those trying to prop it up have really taken a great idea and turned it into a divisive and self-destructing cesspool. Blockchain as a technology will be incredibly valuable in the future and I see so many uses for it going forward, as for the current currencies tied to it, who knows.
Today’s picture comes to us from Thomas Hawk