Thursday August 10, 2017

Total BTC mined: 0.05974282
Total BTC mined USD: $205.75 (based on today’s current exchange rate)
Total Spent: $1891.50
Remaining to break even: $1685.75
ROI: 0.1087

Day 21 Bitcoin Mining

Another day of solid gains in Bitcoin mined as well as overall value as BTC jumped back above $3400 to around $3440 at the time of this writing. 21 days in and we continue to grow but overall BTC mined per day will continue to slow down as the difficulty was just refactored and will likely go up another 5% in roughly 13 days.

This is meant to somewhat even out with demand for mining growing as prices increase and thus a lower output per set Th/s will be made up for by improving value of what is actually mined. I’m not sure how much demand is entering the market on a daily basis but as established large scale operations and single consumers like myself continue to be enticed by rising prices, the amount mined per day will continue to decline.

Mine Bitcoin Now

When I setup the original contract it was estimated I would mine 1.71 BTC per year while current estimates have it down to 1.49 BTC per year. However value has grown by roughly 30% since I setup my contract so it has even out in some sense.

In some good news Fidelity now lets you track your Bitcoin portfolio within their online platform which is another sign of both consumers holding it as an asset and the currency becoming more mainstream. I would expect other investment firms to follow suit.

Second Overstock can now accept a variety of alt coins for payment using Shapeshift which serves as a “currency translator” and allows you to now pay in Ethereum, Litecoin, Monero, Bitcoin Cash and others. The question of how do you make the currency “real” for everyday people is being solved a little bit at a time.

Today’s image comes to us from Norsez Oh