Tuesday August 21, 2017
Total BTC mined: 0.09897652
Total BTC mined USD: $388.97 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $1502.53
Mining yield was up slightly as I mined over 0.003 for the first time in 3 days but value has dropped below $4000 so my overall increase in USD was only about $1.50. I was hoping to both 0.1 BTC mined and break $400 in total production on the same day but it looks like that may not happen.
There is a silver lining to the drop in value and that is that mining interest has actually dropped thus when difficulty gets refactored in about 36 hours, it should actually be 3% lower which will keep a healthy spread between difficulty and value and keep my contract going longer. Honestly Bitcoin is overvalued so the decline from $4400 to $3800 doesn’t really scare me or keep me up at night but if we continue to drop and hit sub $300 then I’ll hit the panic button.
I also saw this morning that Genesis Mining contracts for Bitcoin are currently out stock leaving just Monero and Ethereum. Being that my blog is trying to make money on affiliate payouts for new Bitcoin mining contracts it’s pretty ironic and maybe the reason they are out is that there has just been that much interest in mining BTC.
I expect Bitcoin market volatility to continue for quite sometime and while I wait for the market to sort itself out, I continue to lend and make daily interest on the funds I already have. In fact loan rates have jumped by about 30% to 0.1% daily interest and I noticed that also happened the last time there was a slight downturn in the market.
Making more money when things are bad then watching principal grow when they are good … who can complain about that?
Today’s image comes to us from pixagraphic