My Theory on The Price of Bitcoins and Cryptocoins

One of the things I notice is that there are so many positive spin websites and postings out there about bitcoins and cryptocoins. It’s like there is an entire industry of people who’s only job is to create the illusion that the price of coins is somehow going to go up because of this positive sign or that positive sign. Some of it, frankly, borders on being the pump side of a pump and dump Read The Full Story Here

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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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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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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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Celebrating 20K and Other Good Things

Without a doubt, the big story today is that Bitcoin is hovering very close to the 20k mark, and will likely be there soon enough. I got in at half of that, and that was only a couple of weeks ago. The climb is huge, wild, and more than a little bit scary. How much more fuel does this rocket have, anyway? What it has done for me as a minor miner (har har) is Read The Full Story Here

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The Difficulty Adjustments and the Bottom Line

There are a couple of things in Bitcoin mining that can sort of screw things up a bit, and blow projections and forecasts out the window. In my very first week, I ran into one of things, which is the bitcoin difficulty factor. A sudden (and significant) change in this number greatly impacts the results of mining. If you are like me, you really aren’t tuned into this incredibly important factor. It’s automated and it’s Read The Full Story Here

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So What Got Me Mining?

Everyone has a story to tell, everyone has a reason that they got interested or got curious about mining crypto-currencies. For some people it’s the concept, that coins are somehow immune to government regulation and allow for un-monitored transactions. For some people, it’s the whole technology challenge. For others, it’s all about the money. I sort of fall into the last two categories, in about equal parts. I have been watching the whole deal since Read The Full Story Here

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