Tuesday August 8, 2017
Total BTC mined: 0.05336015
Total BTC mined USD: $179.50 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $1712.00
We’ve now mined more than 0.05 of a coin while ROI is nearly at 10%. After 19 days this is what I was expecting to see and puts us on pace to hit break even around February 2018. Of course my contract even making it to 2018 requires a number of assumptions and we’ll just have to take it 10-14 days at a time when the difficulty is refactored.
Speaking on mining payouts, Genesis Mining has moved to pay every 2 days rather than daily as they continue to work on security issues that forced them to stop mining payouts earlier this month.
Going back to my original money making blueprint, I planned to loan out my mining profits to make additional money and help me reach profitability earlier but the problem is the loan market on Poloniex has dried up. Right now the loan demands are non-existent with a few users seeking BTC in the 0.01% to 0.001% daily interest range. While that’s still a money making opportunity, making a few cents every two days isn’t going to do anything for my bottom line.
I many put some money back in the exchanges as BTC’s recent run appears to have stalled in the last 24 hours and alt coins are now starting to clawback some of their value, albeit very slowly. If Bitcoin continues to remain flat then that should create opportunities on both the lending and exchange side but we’ll have to see.
Going forward I’m thinking of producing a daily chart to show progress on ROI, value and BTC mined.
Today’s picture is from Bob Mical