Sunday October 8, 2017
Total BTC mined: 0.24446235
Total BTC mined USD: $1098.70 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $792.80
Bitcoin’s rally earlier today has pushed the value of my BTC mined to nearly $1100 while cutting the break even point to less than $800. I’m near 60% ROI and as long as production continues at or near this rate and prices can stay in the $4500 range then I’ll likely break even by end of November, if not sooner.
As I hit 80 days and reflect on the journey I’ve taken with this site and cryptocurrency, I wish I had invested more free capital as the BTC I’ve earned has allowed me to start building some wealth through loans on Poloniex as well as some really crazy runs on sports betting that has allowed me to bank multiple times what has been mined. The more I see and read, the more I’m convinced that cryptocurrency is the way of the future and that my bet will lead to a very large payoff in the future.
Mining difficulty looking ahead appears to be rather stable with the next adjustment expected to see it decline roughly 3%. When the price ran up $2000 in just a few weeks, I figured my mining profitability would disappear and I’d be left with a prematurely ended contract and nothing to show for it. Thankfully it looks like I should be safe for another few months given the growth in price and lack of growth in difficulty.
Genesis Mining did email an update on when they expect to start selling BTC contracts again and it appears it’ll be at least another month before Bitcoin contracts come back.
Today’s picture comes to us from gato-gato-gato