BTC price fall: can additional hashrate compensate it? - Day 7 of Bitcoin Mining in Hashflare [5.23 TH/s = $1150]
Today Bitcoin has, once again, a lower price... when is it going to resume the price increase?
In any case, I think it is good that it takes a pause from the crazy increase that it had recently. There was today news of a bank stopping all international bank wires related to crypto, which is worrying (https://steemit.com/cryptocurrency/@freedomvigilante/bank-halts-cryptocurrency-related-wire-transfers-big-trouble-ahead) so I hope that this does not take bitcoin lower, although if it does maybe it is a good opportunity to buy some ;)
So far I think that people are a bit mad about ALTs because they have realized that to get rich they need to pick the next 100x or 1000x coin, growths that the bitcoin will probably not do anymore... or would it? well, not the 1000x but the 100x would mean a bitcoin at $1.3 million which sounds a lot, but if we start measuring it in satoshis instead of on bitcoins, it is "only" $0.013 per satoshi so a "penny stock"! ;)
How has affected the latest price drop of bitcoin in my time to recover the investment?
Thanks to the hashrate increase with the reinvestment approach, the time to recover the investment had not suffered much. Obviously, the time would have been reduced further if the price of bitcoin was higher, but as long as I don't get into the 5 months to recover a feel easy about this investment.
It also probably helps that the payout today with a pool allocation of 50% Antpool and 50% BW has been higher than previous days. It seems that this allocation is the best as on the two days that I had it the payouts have been better than with other allocations.
This is the update on the account history for the two days:
As I said I was 50/50 on Antpool and BW and I got 0.00077140 payout (@13657 = 10.535) the new allocation worked quite well.
When we take into account the fees (0.00012637) the net payout is 0.00064503 ($8.809).
My current hashrate is 5.22 TH/s:
The best pools today:
So it says 100% BW but this time I'm not going to follow this page because the two times that I got 50/50 Antool/BW I got the best results. Let's see if tomorrow I get a payout of 0.0007+ with this allocation.
Again good news with the earnings per month! Now it says $312.08 per month (before maintenance fees)
The calculations done taking into account fees:
So 4.16 months to recover, let's see if this time keeps decreasing with the reinvestment policy and hopefully even more if the price of bitcoin finally goes up again.
What do you think? Is it worth it?
I think it is starting to be...
Please leave your comments below!
If you want to try investing in cloud mining like me please use the link below and I'll get a few bucks for the referral... everything helps! :D
https://hashflare.io/r/70E314F
History:
- Day 5 and 6 of Bitcoin Mining in Hashflare: 5.18 TH/s
https://steemit.com/cryptocurrency/@freedomvigilante/day-5-and-6-of-bitcoin-mining-in-hashflare-5-18-th-s - Day 4 of Bitcoin Mining in HashFlare: the effect of bitcoin price drop. Hashrate 5.07
https://steemit.com/cryptocurrency/@freedomvigilante/day-4-of-bitcoin-mining-in-hashflare-the-effect-of-bitcoin-price-drop-hashrate-5-07 - Day 3 of Bitcoin Mining in HashFlare: earnings rate increases. Hashrate 5.07 TH/s
https://steemit.com/tag/@freedomvigilante/day-3-of-bitcoin-mining-in-hashflare-earnings-rate-increases-hashrate-5-07-th-s - Day 2 of Bitcoin Mining in HashFlare: first results, time to break even. Hashrate 5.04 TH/s https://steemit.com/cryptocurrency/@freedomvigilante/day-2-of-bitcoin-mining-in-hashflare-first-results-time-to-break-even-hashrate-5-04-th-s
- Day 1 of Bitcoin Mining in HashFlare: would it be profitable? Investing $1100 initially
https://steemit.com/hashflare/@freedomvigilante/day-1-of-bitcoin-mining-in-hashflare-would-it-be-profitable-investing-usd1100-initially
Other interesting posts:
- Do we create our own reality? What is reality?
https://steemit.com/meditation/@freedomvigilante/do-we-create-our-own-reality-what-is-reality
This article took me some time to compose, please support my work by upvoting and following me if you are interested in the subject so I get incentivized to publish more, I also post about health and politics ;)
I am just over a week in so I think it is decent.
Thanks for sharing your journey. I just started a week ago with 1 th, now with plans to make it 4, soon. I was 100% in bw this past day and got the worst revenue yet, so added some ant just now. I have seen people advising to manually reinvest when btc is high, but I don't quite understand why, or if, that would make a difference. Maybe it only really makes a difference when working with high rates of th(10 th +)? Any ideas?
Thank you for your comment ;)
About pool allocation, the first days I was following the spreadsheet that I linked to as in theory that would give the best results, but after a week I see that so far the best results are 50/50 Antpool/BW. I'll keep testing ;)
In regards to reinvesting when BTC is high, I guess that the logic is that you buy more hashing power for the same amount of BTC, as the price for 10TH/s is set in US$ and not in BTC. On the other hand, when BTC is low, it is probably better to accumulate waiting for it to go up. That is certainly an approach, but a difficult one because when is BTC high and when is it low? is $13600 low? may be, but what if it goes down to $8000? I prefer to reinvest every day and not having to worry each day about whether to reinvest or not. Also, the sooner the hashing power increases the sooner your account will start producing big money. Taking BTC/money out is losing on the opportunity to earn more and quicker.
In any case, it all depends on what you need. If you need an immediate source of income (for example to payout debt, although it is not recommended to invest on debt!) then may be it makes sense to reinvest part and cash out part. If you can wait mid or long term then it's better to reinvest at least until the monthly payouts reach your desired level, usually something like a good salary. It all depends on your needs and expectations.