Wednesday August 30, 2017

Total BTC mined: 0.12322549
Total BTC mined USD: $561.91 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $1329.59
ROI: 0.29707

Bitcoin Mining Day 41

Bitcoin has maintained the blistering new price set yesterday with current exchange rates holding steady at roughly $4560. My payouts from Genesis Mining seem to be back to a daily schedule as I have gotten a payout the last three days and you can see the price of BTC mined has increased faster than the amount mined as the past 3 days have seen it break much higher relative to the mining slope.

I still stand by what I said yesterday regarding Bitcoin’s price as being overinflated and that while it’s nice to see my investment increase in value, it is still fairly illiquid and I don’t think the casual investors pouring more than a few thousand into Bitcoin realize this.

Mine Bitcoin Now

In other news there continues to be mixed signals from world governments on Bitcoin and cryptocurrency in general. Today the Moscow stock exchange announced they are implementing the infrastructure necessary to trade Bitcoin via their exchange while the Australian government, which had seen bipartisan support for BTC adoption, announced that Bitcoin is responsible for the proliferation of a new wave of organized crime.

The Bitcoin – organized crime link is real but the general logic of associating a currency with crime is specious. A $100 bill is not the source of crime nor is it the criminal but it can be exchanged for a crime of perceived value and the theft of it itself is a crime. The big issue is that when governments demonize something, people listen because their is an inherent trust that they know better and would only say something if there was real information or concern behind it.

Of course if you ask me for concrete examples of a government directly lying or exaggerating information, I can go on for days.

Today’s picture comes to us from Phil Roeder