I will show you the HUGE Potential of Bitcoin & My Cloud Mining Investment Approach with Numbers!
Have you been following Bitcoin for years now and always hestitated to make an investment?
These thoughts might feel familiar to you:
When I saw Bitcoin hit $30 in July 2011 I though: „Damn, I should have invested when Bitcoin was at $1 back in April...Now the train has passed.“
Fast forward to 2013, Bitcoin is now not worth $30 but $300: „What?? It cannot be true that I missed this opportunity. $300 for ONE Bitcoin?? Oh well... I'm going back to my stock investments.“
Now its 2017. Bitcoins price has been increasing by roughly 300% from the beginning of 2017 when its value was at around $750, to a new peak on June 12th with $3000.
From 2009 to 2017 Bitcoin had a price increase of over 5 MILLION percent, from a fraction of a cent to $3000...
… and ...
… I'm still NOW entering the market CONFIDENTLY.
Why? Am I crazy?
No. I just believe in the idea of Bitcoin!
But how can I believe in something that has no intrinsic value in it, to keep increasing in value?
Well, let me ask you a question:
You believe in the US Dollar, yes?
...
Why? It's just paper!
A long time ago, currency used to be directly backed by gold, a physical commodity with a limited suppy, so the paper you were holding in your hands was actually worth something. Nowadays the federal reserve is handing out fresh cash like candy to banks, which in return pass it on to the people in the form of loans, recklessly, eventually leading to a huge disbalance in the financial system.
This great cartoon explains the nature of the federal reserve system:
Due to the decentralised and limited supply nature of Bitcoin, its potential is ENORMOUS!
I'm not saying that it will completely replace fiat currency any time in the foreseeable future, but with its current market cap of roughly $40 billion, there is lots of room to grow in the grand scheme of global financial markets.
And that brings us to:
Growth Predictions
There is tons of predictions for the price development of Bitcoin by various financial experts that see the potential in this cryptocurrency.
Kay Van-Petersen, an analyst who made correct predictions before, says Bitcoin could hit $100,000 in 10 years.
Source: 🔗cnbc.But we don't even have to get that „crazy“ (from todays point of view at least 😉) to see a rise in Bitcoins value in the near future.
Looking at the current chart of bitcoin we notice a few dips and dives, which is normal in the young world of cryptocurrency, but whats important, is the trend that is clearly visible:
It's conceivable that Bitcoin could hit the $7,000 mark by the end of october THIS year.
(🔗bitcoinforecast)So how do I personally invest into Bitcoin?
In one of my previous posts 🔗„Is it TOO LATE to mine Bitcoins NOW?“ I went into detail on why I chose to make an investment into Bitcoin Cloud Mining as opposed to other investment strategies like Bitcoin trading, Bitcoin buy and hold, or mining with my own hardware.
On Genesis Mining, the biggest and most trusted cloud mining service available, I so far invested about $7500 into mining Bitcoin, amounting to 60 TH/s of mining power.
Bitcoin mining contracts on Genesis Mining are LIFETIME, which means that they keep mining as long as it stays profitable.
You can see videos of the Genesis Mines in action on their 🔗youtube channel.
The freshly mined Bitcoins are being send to my wallet daily!
(Also checkout my post 🔗How to STORE cryptocurrency SECURELY?)So far so good. Lets move on to the interesting part!
The numbers of my potential ROI from my Genesis Cloud Mining investment with two approaches:
1. 😐 Conservative & 2. 😲 Progressive
The Conservative Approach
Now, first of all its important to know that the difficulty of mining Bitcoin is increasing over time, meaning that it takes more and more mining power to mine Bitcoins as time passes. This is an inherent feature of Bitcoins blockchain algorithm which limits its total supply to roughly 21 million Bitcoins. So far, around 16,4 million Bitcoins have been mined and the 21 millionth Bitcoin will have been mined about the year 2100.
The Bitcoin mining calculator on 🔗mycryptobuddy allows us to calculate what the projected total return of our mining contract with Genesis Mining will be, factoring in an assumed difficulty increase and the Maintenance Costs & Pool Fees for the mining (about 28%).
At the current price of Bitcoin ($2367,93 on the 26th of June 2017) the break even point on this investment will be around the 12-13 month of mining.
At this point over 3 Bitcoins have been mined and the $7500 of initial investment has paid itself off!
Now lets see what we will mine with this contract in a timespan of 5 years!
After 5 years, about 6.5 Bitcoins will have been mined amounting to $15,312 at TODAYS Bitcoin price!
Thats roughly a 100% ROI in 5 years, which is 25% per year.
That is amazing if you ask me, considering you are not doing ANYTHING for this 😎
However if you believe in the potential and growth of Bitcoin, assuming that the price in 5 years would be the same as it is today, is VERY CONSERVATIVE!
How about some, more "progressive" calculations? 💰
Analyst Kay Van-Petersen made the prediction that Bitcoin will hit a price of $100,000 in 10 years.
Lets assume it only makes 1/5th of that in 5 years, putting the price at $20,000 per Bitcoin by the middle of 2023.
Lets check what happens to our returns:
😲😲😲 You would have turned your $7,500 into $130,246.
Thats an over 1600% return on investment, or 320% per year, mined with the same Bitcoin Genesis Mining contract.Now relax and breathe 😌
If those numbers have convinced you in the same way they have convinced me, here is ...
How to get started
Is an investment of $7500 dollars needed to achieve good results with Bitcoin Genesis Mining?
No! I used these numbers because its the investment decision I made personally.
You can start off by investing much less than I have into Bitcoin mining, for example with $30 for 0.2 TH/s. It's always possible to add more hashpower later on (as long as Genesis Mining has capacities left).
Sign up to Genesis Mining using 🔗this link
You can use my referal code 💳"7DkIcf" to get 3% OFF every Genesis Mining purchase.
In return I will also recieve a small upgrade to my mining power.
Genesis Mining supports the following payment methods:
Credit Card (USD), Bitcoin, Dash, Litecoin, Dogecoin
Please note that the view expressed here is not the view of Genesis Mining or any other entity. I am not a financial expert or advisor and purely sharing my personal experience, so please do your own research. No income is guaranteed with genesis mining or any investments I mention. Do not invest more then you can afford to lose.
Thank you very much for reading!
Feel free to share your experiences with mining Bitcoin or any other cryptocurrency and your predictions for the near / far future.
Checkout my other related posts:
Sehr gut geschrieben und mich überzeugt. Werde am 01.07. anfangen und mir "etwas dazuverdienen" :-)
Danke auch für den Kommentar bei mir.
dafür gibt es das komplette Programm :-)
Gerne, lass mich wissen wie es läuft. Danke für den Follow, Upvote und Resteem! 😊
Achte aber darauf, dass in Deutschland das Mining steuerpflichtig ist. Wenn du BTC kaufst und nach über einem Jahr veräußerst ist der eventuelle Gewinn steuerfrei.
PS: Mich hat das Mining auch erst vor Kurzem überzeugt :)
This is the best article I've found yet on Steemit! Wow! The cartoon was awesome. The background, the data (calculations/charts) and transparency are excellent!
I resteemed. I up-voted. I followed. I hope everyone has a chance to read/watch this article.
I'm looking forward to future articles from you.
By the way, have you checked out The GigaWatt project! It's incredible and I participated with a $20K investment. Check out the website: https://cryptonomos.com/wtt/. I'm not technically capable of being a miner, but this is the second best way to participate in mining. My tokens will be rented out as demand for mining capacity increases. The rent is between 37% and 57% annually. So nominally I expect 47% return on my investment with a payback in just over 2 years. The tokens have a lifetime of 50 years. So I expect to get around $10,000 a year in rent. That means almost 48 years after my initial investment is returned.
These are times to be brave. Opportunities are being created every day by super smart entrepreneurs. I plan on being one to benefit.
Interesting! I will make sure to look into this as well :)
I'm shocked your article isn't getting more traction. Have you promoted it? If I had Steem tokens I would do it. I only have SP. Consider promoting it, which I've learned is a way to pay to get it on the promoted list and a bigger audience.
Wishing you great success!
Yes, I promoted this article once I released it. It didn't really help much! I guess I was just unlucky.
Thanks, great success to you as well!
Well written, I am on genesis as bitcoin rises could be a good investment.
Thank you! Yes, I think so too :)
Very well-made post! I'm checking out your other cryptocurrency posts, as I'm still very new to the crypto world.
Bad luck on the promotion, man...
Thanks for the appreciation tundraxd! I'm glad and thankful if you find some useful information in my posts.
Stay tuned for more 😎
About the promotion: It's more important for me to gain followers right now than earn $, so thats fine 😊
Good formatting. Makes it easier to navigate, thanks.
You need to account for the exponential growth in hash power.
I am. Did you see the mining difficulty increase I'm factoring in? With no difficulty rise, numbers would be through the roof.
The calculator simply looks at the past, difficulty is exponentially increasing the calculator has never been accurate for long term. I have many many friends that made this exact mistake and lost much more than they ever made.
It might of course not be 100% accurate, but how can it be looking into the future?
Supposing some kind of exponential increase with the profit curve flattening out after a certain time is as good of a prediction as one can make.
I will break even fast, so I 'm not concerned about loosing "much" more than ever made...
Its gonna be a bumpy ride while a bunch of goverbments and central banks get theirhands into the market.
not sure if the genesis mining is profitable at all.
i would not just jump on it.
Would you ming sharing what you are basing this on?
I didn't "just jump on it" too. Only after doing a fair bit of research and calculations which I shared in my blog posts.
If you are a trader who is constantly monitoring the market, buying and selling... sure that can be more profitable.
But I'm more into the passive income approach 😎
thanks for sharing .. its never to late to buy bitcoin that what i have learned
I believe so! if you make it a long term investment!
when you spend money to promote content and returns are less than a dollar
😅😅 Upvote for you sir! I guess I have to be happy with a good laugh then!
upvote for u 2 lol
Thats it!!!
Followed 😎
And that is how you earn 28 cents...and a premium follower!
My pleasure, Partner!