The third day and things look promising although it is still too early. I have some temptations to through $10k at it to get significant earnings earlier, but on the other hand, I feel I should test it well first and be a bit more conservative if investing in bitcoin mining could be considered conservative at all!
This is the update on the account history:
So I obtained today a payout of 0.00073513BTC which right now would be around $10.83. From that we have to deduct the fee of 0.00012471BTC ($1.838) leaving 0.00046398BTC ($6.838) and 0.00014891BTC in the balance ($2.194).
With the reinvestment, my current hashrate is 5.07 TH/s
The pool configuration for today was 100% BW as recommended here
The expected monthly return today has increased from 297.27 USD yesterday to 319.78 USD which means a time to recover the investment of 103 days, but again, this does not account for the fees so it will be a bit longer, I have to do the numbers.
So $3890.68 in one year, I start making my castles in the sand... if I instead of $1000 I invest $10,000 I'll get $38,906.80 a year, and if I put $20,000 I'll get $77,813.60 a year which is a decent income... but those number as misleading. There are a lot of "ifs" like I said on yesterdays post. And from those $77,813.60 after recovering the initial investment the profit would be $57,813.60, still not bad, but as I said there are a lot of "ifs" to spend $20,000 in cloud mining. I'm not ready for it, at least yet.
History:
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-sDay 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 theme so I get incentivized to publish more, I also post about health and politics ;)