It’s been a while since I have posted anything. Yes, I am still mining. I have not added to my mining capacity, but as of this writing, Bitcoin is currently sitting at about $297.00. That’s a good thing. AND… it’s been a slow climb over the past 15-days or so. A slow climb usually means its not a “spike” that will be short lived. Anything can happen (any usually does) but I’m hopeful it stays at or above the $300.00 range. I can make some decent return on my investment at or above that price.
As you may have seen, I originally had my miners in the basement rec-room area of my house. I used the miner’s heat byproduct to heat that area, saving me money from using space heaters and a pellet stove. Well, I live on the east coast and now that summer has arrived, I needed to get those miners out of there.
I moved the miners to the garage, took out several of the garage door window panes (replaced such with screen), and added 2 box fans to the windows. This setup allows the heat to be exhausted to the outside when the garage is closed while at work and at night. So far the setup is working pretty well. I have one miner that shuts down occasionally when the temperature rises above 90 degrees in there, but so far that has happened only a few times.
Also, I am still mining Scrypt coins with my 1 miner. I have been almost exclusively been mining DotCoin. Currently I have over 4.5 million DotCoins and growing. Basically I’m just sitting on them in hopes that as the price of Bitcoin increases, so will the alt-coins (although that hasn’t happened yet). Currently DotCoin is selling at about 0.00000015 BTC. I have a small amount sitting in an exchange, queued to sell at 0.00000025 BTC. At that price I will have a decent return on my investment (plus electricity costs) to make it worth running the miner. I don’t know when, or if, that will happen, but I’m hopeful.
Sad news about BTC Guild shutting down. I am hopeful that as the price of BitCoin increases, perhaps there will be more options for pool mining. I am a firm believer that more competition is good for the consumer, but they need to make a buck also. With BitCoin price around $225.00, it’s hard to make any decent return on investment.
Also, Bitcoin Affiliate Network has fallen (as I write this) to 388 workers (from a high of around 3000), and only 0.40 PT/h. That’s just plain sad. Hopefully as the BitCoin price increases, they will be able to payout on a more consistent basis, and overcome the fear that some (and me) have had that they will get paid at all. I have been averaging about .12 BTC a day with BitMinter, and they have been pretty consistent with their payouts. I have an automatic payout set at .10 BTC and have been receiving regular payouts when that threshold is reached… unlike BitCoin Affiliate Network. With BAN I never knew when I was getting paid, in spite of the auto-payout threshold being reached.
Well, that’s it for now. Feel free to ask questions, or comment, and/or subscribe if you want to be notified when I create a new post. Different points of view help everyone to make better decisions.
P.S. I’ll bet more people in Grease wish they would have had their money in BitCoin ! No limits on BitCoin withdraws, unlike the government regulating the banks to withhold people’s money. Sad… you work hard for your money, only to have a government tell you when you can have it and when you can’t ! For those of you who don’t like the government telling you what you can do with the money you earned… think about the BitCoin (blockchain) concept. I think that BitCoin is here to stay, and even if the vehicle is not BitCoin – blockchain technology is the future. At least until the government figures out a way to regulate that also. Don’t say it’s impossible, people in the government work long and hard trying to figure out how to get more and more of your hard earned money. There are an ever increasing number of folks RIDING in the wagon, and fewer and fewer folks PULLING the wagon. It’s a tough sell to convince folks to pull rather than ride, hence the ever increasing riding population. Something has to change, as this trend is not sustainable ! Just my opinion.