Update from Bitcoin’s Death Valley

Nine months into my Bitcoin Cloud Mining experience, I can tell you without a doubt that it’s turned into a real crock of shit. There is no other simple way to describe how off the rails all of this is going. Where to start? Well, difficulty is off the chart, and as such, the gross income from my 2 TB/2 of hashing is really low. Yesterday was 0.00007381 BTC or about 48 cents. As the Read The Full Story Here

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Where are the Bitcoin and Crypto Markets Heading?

A lot of talk and speculation about the future of Bitcoin and all crypto coins these days. While the price of Bitcoin is much higher than it was say two years ago, it’s also more than 50% off it’s peak price, and the market for things like Bitcoin futures seems to have cooled a bit. Regulator pressures exist in all directions, without any real consensus building for the future. What makes Bitcoin so great (anonymous, Read The Full Story Here

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Bitcoin Mining Officially Becomes Unprofitable

According to this story from CNBC, the bitcoin price USD and the amount of hashrate current in play means that for the most part, mining bitcoins is no longer profitable, if the price remains at this level. This story comes as Bitcoin goes through another agonizing series of price drops. The Bitcoin price in January dropped from the peak of 20k down under 8k, and most people called bottom when the bitcoin price bounced off Read The Full Story Here

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Bitcoin Mining Fades To Black

So I have been bitcoin cloud mining now for 3 months, a quarter of the way into my 12 month contract. Initial results in the first couple of weeks were so good, I doubled down at a higher price to get twice as much hashrate. After a nice run-up to almost $20,000 the price of bitcoin has faded away now sitting around 10k, 50% from that price. What hasn’t faded away is the increased of Read The Full Story Here

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The New Normal Is A One Direction Escalator

I am starting to wonder if Bitcoin and all alt-coins for that matter are just another quality product from the ACME corporation. It seems like it all looks good, they deliver on time, you set up the package, climb on the rocket, and when you light it off, it just explodes and you end up falling off a cliff. Bitcoin (and pretty much every other coin) is nearly in true freefall at this point. It’s Read The Full Story Here

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The Sounds of Bubbles Bursting

At the risk of sounding a bit negative, let me give you a bit of an update to explain why I haven’t added much here recently. Bitcoin (and all crypto coins for that matter) appear to be a huge, huge, over-inflated bubble with nothing to support their real values. There, I said it. Sucks to say it straight out, like admitting finally that you are an alcoholic or have a drug problem. The crypto currency Read The Full Story Here

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The First 15 Days of January Define The Crypto Market

It’s 15 days into 2018, and the crypto market has already been rocked, shaken, poke, prodded, and pretty much lost it’s sh-t as a series of punches have hit the crypto markets very hard. Bitcoin is down about a third since it’s peak, and news from China and Korea have everyone and their dog more than a little skittish. China is first. There is a bit of confusion, but it seems that between local and Read The Full Story Here

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One Month In My Hashflare Review

Okay, so it’s been just about a month that I have been cloud mining with Hashflare. They were, in retrospect, my second choice behing Genesis Mining, which seems to have the highest reviews and all that. But Genesis Mining is literally out of stock on mining gear and likely will be for the forseeable future, and I didn’t want to wait three to 6 months to see if they restock. That said, I may still Read The Full Story Here

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Christmas Brings No Gifts To Crypto Miners

Santa Claus didn’t do anything for the world of bitcoin, that is for sure. It’s been a crappy 2 weeks in the mines, with a true triple whammy for me: Bitcoin price dropped almost in half at one point, mining difficulty went up another 20%, and the price of buying additional hashrate with Hashflare went up by nearly 50%. Summed up, it’s a squeeze. A fourth negative raised it’s head today, as South Korean announced Read The Full Story Here

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Bitcoin Price Rapidly Recedes and Other Bad News

It’s not been a great week so far. After Bitcoin hit 20k or there about last week, it’s been pretty much an endless parade of negative and near negative news. The result has been the bitcoin price USD dropping dramatically, in some exchanges getting as low as $14,000 before bouncing back a bit. As I type this, the price is 16910.01 US Dollar, but that is still about 15% off the top. Second bad news Read The Full Story Here

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