Saturday September 9, 2017
Total BTC mined: 0.15693339
Total BTC mined USD: $674.90 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $1216.60
Bitcoin prices have rebounded roughly $150 since yesterday as Chinese exchanges are reporting no new directives or demands from regulators. It appears the uproar and subsequent selloff has been fueled more by rumor than fact with scared investors perhaps jumping to conclusions that China’s dissolution of ICOs was a gateway to dissolving all cryptocurrency trading within the country.
As I have highlighted before, there is no SEC or global organization that regulates what can and can’t be done or unintentionally done to manipulate the market thus anonymous rumors on Chinese social media sites and speculative reports can be made on a whim to try and maneuver the market in any way you see fit and it will continue to haunt Bitcoin adoption going forward.
Overall ROI rebounded back about 35% while we’re approaching 0.16 coins mined and should hit that in the next payment. I’m not sure how this will impact Bitcoin mining difficulty as BitcoinWisdom hasn’t updated their prediction chart and I can’t seem to find anything forward looking but I can imagine this could have some ripple effects going forward.
In good government news, legislation has been introduced to allow Bitcoin purchases under $600 to be tax exempt. The Cryptocurrency Fairness Act would allow purchases under $600 to be tax free and would support the growth and adoption of the currency. It’s still very early in the process so don’t count your chickens before they hatch but it is certainly encouraging and a welcome step forward.
Today’s picture comes to us from Chinaoffseason