Saturday December 23, 2017

Total BTC mined: 0.41931355
Total BTC mined USD: $5915.63 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $0.00
ROI: 3.127

Bitcoin Mining Day 156

I really don’t know how to classify Bitcoin or cryptocurrency anymore. Yesterday it dropped off the face of the earth with every major cryptocurrency down 40% or more early in the day before recovering slightly to finish the day down roughly 15-20%. This morning those losses have all but been erased and in the case of Bitcoin Cash it is now trading near pre-Coinbase addition levels.

I’m ready to throw my hands in the air at this point and not even care. I don’t want to sound callous but I’ve given up trying to figure out what exactly makes the currency/asset/digital value store or whatever mot du jour move up 20% or down 20%. Even as I type this Bitcoin is jumping up or down $100 every few seconds and while I realize this is +/- 0.5% movement you just don’t see this in any typical investment vehicle.

Honestly the only thing that comes to mind are some of the early days of eBay stock when it would move 10-15% in a day but those events were very few and far between. We’re talking about an asset that in one year has multiple corrections of 40% and then proceeds to double as investors buy more and more. Sure I’m happy that my original investment has yielded the dividends it has but what exactly am I holding in my account? Does anyone know?

Yesterday cryptocurrency was left for dead and today it’s like nothing happened and it’s business as usual with the same crowd of crypto celebrities making sure to let everyone know “I told you so” / “I’m getting rich, get in now or be left behind” … while I don’t wish bad things on anyone, I pray that for their sake Bitcoin doesn’t crash because there will be a lot of unpaid bills and no liquidity even at pennies on the dollar.

Today’s picture comes to us from Nathan Larkin