Finance experiment: Cryptocurrency and the mining business

by - June 20, 2016

Fiat money like those we keep in our wallets is losing its shine since QE and people are moving to equity assets, real estate and even digital currency known as crytocurrency. You should know that there are more than 400 "dead" cryptocurrency. But like any currency system, there is always a winner and it seems like bitcoin is here to stay. I believe it's the unpolished diamond because it has not reach it's full value potential. 

There are three ways to get bitcoin. You could buy the coin i.e. the more trustworthy way which cost all your salary or you could do mining by connecting server box at home with screwdrivers. The last resort (first for computers noob like me) is to buy server power from mining companies like hashflare.

There are many scammers and ponzi game out there.  It's important that we don't fall prey. While I can't give you a 100% guarantee that hashflare is real mining,  it's by far the most legit player I found. And they have consistently paid my brother for the past one year. He's a lucky one. There are people who put in 100,000 USD to get like 500 USD a day - I sure hope that's not all their net worth.

The entry price for one lot is roughly 9.90 USD, actually the price varies based on bitcoin current value. Your earnings is based on mining rate, as long as it's still profitable. At current rate, you get a return of about 0.05 USD for every lot a day. That's 200 days for break-even of investment.  

Yes, I have opened an account with them and bought 10 units at 99USD.  I do this for finance experiment purpose, NOT for retirement income or real investment. Maybe you can call it my silver lining fund - since the daily return (0.50 USD) will allow me to buy one packed of nasi lemak kosong a day. I will report the results in 6 months. 

If you think robots currency is for you, purchase at your own risk. And if you would, use this link to help me continue experiment in all things finance. 

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