![Chart 1.png]( ) Cloud Mining Bitcoin – An Economic Profit or Dead on Arrival Investment? – Example with Excel Hello! Before I proceed with wrapping up the Part 1a of my tax, I wanted to share my recent decision this past month to proceed with a small cloud mining investment. Bitcoin is the currency of the future & Genesis Mining is the largest cloud mining. Join over 1.000.000 people. Conversations and every time a Bitcoin. I recently purchased a cloud Bitcoin mining contract. I am not here to sell the service to you or spam referral, so I am not disclosing which service I used; I am just sharing the thought process when I decided to purchase the contract, through the lens of economics and finance. For me, this “investment” is a fun experiment just to see how it plays out. I held Facebook stock since the day of the IPO, holding stock can be so boring, so I wanted to make things interesting with the investment opportunity in BTC. What I Spent I find the prospect of a mining contract very risky, so I only purchased a small amount. In late July, I spent approximately $220 (saved 3% using referral) for an open ended contract with a 1500 GH/s rate. In addition to the up-front fee, this contract has a daily management fee of $0.00028 USD per GH/S, or $0.42 USD per day. This means, however many Bitcoin is mined by the cloud company allocable to my GH/s, a variable amount of BTC is deducted equivalent to $0.42 cents USD, and I receive a net payout in BTC. There are two key risks (other than obvious risk of being scammed). The first risk is the difficulty of mining increases with time, yielding less BTC to the net payout. The second key risk is if the BTC price deteriorates, or does not rise to outpace the difficulty increase, it will take more BTC to cover the management fee with each difficulty increase. If the BTC mined does not cover the management fee, no payout will be made; after 60 days of this unprofitable state, the contract will be terminated and payouts will discontinue. More informed minds than I will tell us with great technical details, the difficulty rate is increasing rapidly, and therefore, the BTC cloud mining investment is really as risky (in my opinion bullish) bet, as the price needs to increase higher than the difficulty increases so that the management fee does not turn the contract to a loss. Eobot Bitcoin Cloud Mining. Joining Link.?? ? Bitcoin Mining is the process of adding transaction records to Bitcoin’s public ledger of past transactions. – block chain as it is a chain of blocks. When a block is discovered, the discoverer may award themselves a certain number of bitcoin. Instead of buying mining hardware and mine at your home computer, you have the possibility to “rent” all that equipment and to start mining immediately – Cloud Mining Eobot Cloud Mining Review Eobot cloud mining launched in April 2013 in United States. On Eobot it is very easy to mine bitcoins and even other cryptocurrencies with the same mining contract. The user interface is very simple and the mining stats are being updated in real time. Some of the users also call the platform “Eobot Wallet” due to the fact of the possibility of having crypto wallets for all available coins on Eobot platform on one single place. There are two main mining contracts on Eobot bitcoin cloud mining platform A. 5 year rental lengths B. 24 hour rental lengths Eobot Cloud Mining Plans: * Cloud SHA-256 SHA-256 algorithm follows Bitcoin difficulty 1.0 GHS per 1.0 cloud instance owned, which in the past has increased exponentially. This means payouts will likely be reduced over time, unless the price of Bitcoin rises to keep pace. The approximate price for Cloud SHA-256 4.0, GHS $0.30, if you are purchasing via credit card your account will be held for 6 months. For all the mining contracts and all the mining technology Eobot is “taking” fee for electricity and maintenance. The approximate fee for the S9 and 4.0 GHS, is $0.00021/GHS/Day. Cloud Scrypt Scrypt algorithm, 1.0 MHS per 1.0 cloud instance owned, Cloud Scrypt follows Litecoin difficulty, which in the past has increased exponentially. This means payouts will likely be reduced over time, unless the price of Litecoin rises to keep pace. The approximate price for Cloud Scrypt, MHS $10. Eobot Wallet Big advantage of Eobot mining is the allocation of main and familiar cryptocurrencies. It is very comfortable to use Eobot as a wallet if you have several coins and want to manage them in one place. Available coins on Eobot: Bitcoin, Ethereum, Litecoin, Steem, Dogecoin, Ripple, Dash, Golem, BitShares, CureCoin, XEM, Monero, Zcash, Factom, Bytecoin, Aufur, Lisk, MaidSafeCoin, and Gridcoin Eobot Miner / Software Eobot bitcoin cloud mining had a software to mine bitcoin on user’s computer connecting to Eobot Mining pool. The software was called “Eobot Miner” and it used the user’s CPU or GPU processing power to mine the selected concurrency. The Eobot miner is not available for download on the Eobot dashboard anymore. Eobot Exchange On Eobot mining platform there is a possibility to exchange between the available coins on your account. It is very simple and easy to exchange between coins but keep notice that there is a very high fee of 5% for each exchange activity. Eobot Withdraw If you want to withdraw your coins to another wallet or to any other purpose, you can choose between Automatic withdraw or Manual withdraw, there is a minimum amount for every cryptocurrecy and there is a fee apply. Eobot Minimum Payouts Bitcoin: Minimums: 0.002 BTC Ethereum, Litecoin, Dash, Zcash, Monero: Minimum 0.1 Steem, Curecoin: Minimum 10 Ripple: Minimum 20 xrp Eobot Fee Payouts Bitcoin: Miner/Tx Fees 0.001 BTC Litecoin, Dash: Miner/Tx Fees 0.002 Ethereum, Monero: Miner/Tx Fees 0.01 Ripple: Miner/Tx Fees 0.02 My Facebook page link ??? Twitter.??? What'sapp/calling ??? +402 +732.
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March 2018
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