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Title: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 15, 2015, 08:14:48 PM A story about Fred, the MMXIV Prospector
I already mentioned Fred in the Maieuticoin ANN thread (https://bitcointalk.org/index.php?topic=623884.msg10134439#msg10134439) but figured this deserved its own separate thread to discuss. Let's analyze his situation a little further. Fred is imaginary, but this situation is not hypothetical, this is fact based on real numbers. The chart below is based on actual BTC/USD values taken from the Winkdex and actual BTC/MMXIV daily highs from Bittrex: BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i60.tinypic.com/23wts95.png Fred purchased 20 MMXIV from Bittrex (http://bittrex.com/Market/?MarketName=BTC-MMXIV) on Dec 14, 2014 at a price of 0.019 BTC per MMXIV. The $USD value of his MMXIV at that time was $134.01 and the BTCBTC value of his wallet was 0.38 BTC. He immediately transferred these MMXIV to his personal wallet and began staking. Based on MMXIV's 2014% annual interest rate, compounded daily, by January 14, 2015 his wallet now contains 90.76 MMXIV, more than quadruple the coins he started with. His ending MMXIV $USD wallet value is $263.97 or BTC1.34 The price of BTC/MMXIV dropped by 22.17% The price of BTC/USD dropped by 44.23% The $USD value of Fred's MMXIV wallet increased by 96.98% from $134.01 to $263.97 The BTCBTC value of Fred's MMXIV wallet increased by 253.18% from 0.38 BTC to 1.34 BTC One month. Despite price drop of MMXIV/BTC. Despite BTC value almost cut in half. Almost double return on investment. If you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit?usp=sharing) Title: Re: A story about Fred, the MMXIV Prospector Post by: jaypete on January 16, 2015, 03:20:41 AM fred is very smart man
Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 16, 2015, 06:28:53 AM He is indeed. I will continue to update his progress each week.
Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 23, 2015, 07:28:12 PM It has been a week and time to update Fred's progress. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart.
BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i60.tinypic.com/15q4w3p.png Based on MMXIV's 2014% annual interest rate, compounded daily, on January 22, 2015 his wallet now contains 161.39 MMXIV, more than EIGHT TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $782.27 or BTC3.37 The price of BTC/MMXIV increased by 10% The price of BTC/USD dropped by 34.24% The $USD value of Fred's MMXIV wallet increased by 483.74% from $134.01 to $782.27 The BTC value of Fred's MMXIV wallet increased by 528.02% from 0.38 BTC to 3.37 BTC This is the power of 5.5% daily interest people. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: unusualfacts30 on January 23, 2015, 07:38:54 PM How does this coin work?
It offers 100% weekly interest offline? ??? How? Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 23, 2015, 08:00:45 PM How does this coin work? It offers 100% weekly interest offline? ??? How? It is a POS only coin. 2014% annual POS interest compounded daily works out to 5.5% per day. All you have to do is leave your wallet open with a balance and everything else happens automagically. Or, you can buy a Snowball and let it do the staking for you. Read more in the MMXIV ANN thread (https://bitcointalk.org/index.php?topic=623884.0). Title: Re: A story about Fred, the MMXIV Prospector Post by: unusualfacts30 on January 23, 2015, 08:13:16 PM How does this coin work? It offers 100% weekly interest offline? ??? How? It is a POS only coin. 2014% annual POS interest compounded daily works out to 5.5% per day. All you have to do is leave your wallet open with a balance and everything else happens automagically. Or, you can buy a Snowball and let it do the staking for you. Read more in the MMXIV ANN thread (https://bitcointalk.org/index.php?topic=623884.0). I thought it offered offline staking? Title: Re: A story about Fred, the MMXIV Prospector Post by: chilly2k on January 23, 2015, 08:24:40 PM How does this coin work? It offers 100% weekly interest offline? ??? How? It is a POS only coin. 2014% annual POS interest compounded daily works out to 5.5% per day. All you have to do is leave your wallet open with a balance and everything else happens automagically. Or, you can buy a Snowball and let it do the staking for you. Read more in the MMXIV ANN thread (https://bitcointalk.org/index.php?topic=623884.0). I thought it offered offline staking? Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 23, 2015, 08:45:54 PM How does this coin work? It offers 100% weekly interest offline? ??? How? It is a POS only coin. 2014% annual POS interest compounded daily works out to 5.5% per day. All you have to do is leave your wallet open with a balance and everything else happens automagically. Or, you can buy a Snowball and let it do the staking for you. Read more in the MMXIV ANN thread (https://bitcointalk.org/index.php?topic=623884.0). I thought it offered offline staking? Offline staking was basically a test for the Snowball staking hardware. The Snowball is a small device that is just about as close to offline staking as you can get. Fire it up, import your wallet's private key, and it does the staking for you, no need to leave your wallet running all the time. You can login to the Snowball's web UI to check your balance, or just fire up your wallet occasionally, let it sync and check it that way. Title: Re: A story about Fred, the MMXIV Prospector Post by: binarygangster on January 23, 2015, 10:15:16 PM Fred is imaginary, but this situation is not hypothetical, this is fact based on real numbers. The chart below is based on actual BTC/USD values taken from the Winkdex and actual BTC/MMXIV daily highs from Bittrex: Fred is my homey. We got plans this weekend for a pickup game at the ymca. Imagine that. Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on January 29, 2015, 08:37:28 PM Price is still holding steady. Fred is getting rich as fuck
Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on January 30, 2015, 08:39:14 AM It has been another week and time to update Fred's progress. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart.
BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i57.tinypic.com/6nuou0.png Based on MMXIV's 2014% annual interest rate, compounded daily, on January 29, 2015 his wallet now contains 222.53 MMXIV, more than ELEVEN TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $1,048.72 or BTC4.47 The price of BTC/MMXIV increased by 5.83% The price of BTC/USD dropped by 33.54% The $USD value of Fred's MMXIV wallet increased by 682.56% from $134.01 to $1,048.72 The BTC value of Fred's MMXIV wallet increased by 1,077.53% from 0.38 BTC to 4.47 BTC Fred has now officially reached double digits in return on his money. His wallet BTC value has increased more than 10x. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on January 31, 2015, 07:53:08 PM It has been another week and time to update Fred's progress. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart. BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i57.tinypic.com/6nuou0.png Based on MMXIV's 2014% annual interest rate, compounded daily, on January 29, 2015 his wallet now contains 222.53 MMXIV, more than ELEVEN TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $1,048.72 or BTC4.47 The price of BTC/MMXIV increased by 5.83% The price of BTC/USD dropped by 33.54% The $USD value of Fred's MMXIV wallet increased by 682.56% from $134.01 to $1,048.72 The BTC value of Fred's MMXIV wallet increased by 1,077.53% from 0.38 BTC to 4.47 BTC Fred has now officially reached double digits in return on his money. His wallet BTC value has increased more than 10x. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Steady profits in a flailing BTC market feels like spotting Bigfoot ;) Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 05, 2015, 08:33:10 PM Yet another week and time to update Fred's progress. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart.
BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i62.tinypic.com/6ss6py.png Based on MMXIV's 2014% annual interest rate, compounded daily, on February 5, 2015 his wallet now contains 323.71 MMXIV, more than SIXTEEN TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $997.06 or BTC4.38 The price of BTC/MMXIV decreased by 28.72% The price of BTC/USD dropped by 35.51% The $USD value of Fred's MMXIV wallet increased by 644.02% from $134.01 to $997.06 The BTC value of Fred's MMXIV wallet increased by 1,053.65% from 0.38 BTC to 4.38 BTC MMXIV price dropped pretty hard this week, but Fred isn't upset about this. His gains from staking protected his investment from a major loss. Fred lost a bit of his gains from last week, but he is still over 600% profit in terms of $USD and over 1,000% profit in terms of BTC. With a wallet full of of 323.71 MMXIV and staking at 5.5% daily, Fred is now earning roughly 18 MMXIV per day in stake. At current market price, that is is 0.23 BTC worth of MMXIV each and every day. You can begin to see now how steeply the red line is beginning to curve up - this is the power of compounding interest. The important thing to take from this is that market price doesn't matter. Big-money investors don't care about price, they earn on percentages. The bottom line is, to make money on MMXIV, the market price must decrease less than 5.5% per day. That's all you need to care about. If the price stays the same, or goes up, or even if it decreases 4% per day, you're making money. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: gnargnar on February 05, 2015, 08:50:19 PM well written and excellent in theory, but you seem to avoid the fact that if there isn't demand (buy orders) for Fred to be able to exit at that profit, this investment won't be profitable. With such a huge %Pos, MMXIV is a guess for when and who will dump first. the price will keep falling while the total coins is increasing drastically.
maybe i'm wrong though, if so, can you explain? maybe it's only me, but i see this well-thought thread as a way to create *demand* to help "Fred" to exit, or to help him selling his new generated coins from Pos% until he meets his ROI... Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 05, 2015, 09:59:08 PM well written and excellent in theory, but you seem to avoid the fact that if there isn't demand (buy orders) for Fred to be able to exit at that profit, this investment won't be profitable. With such a huge %Pos, MMXIV is a guess for when and who will dump first. the price will keep falling while the total coins is increasing drastically. maybe i'm wrong though, if so, can you explain? maybe it's only me, but i see this well-thought thread as a way to create *demand* to help "Fred" to exit, or to help him selling his new generated coins from Pos% until he meets his ROI... True, volume would need to increase from current levels to exit in any reasonable amount of time without crashing the market. If Fred were ready to start cashing in, he would have to let them out slowly or end up reducing his total profit by crashing the price. The upside to this is that, as he sold his coins over the course of several days, he would continue to generate stake on the unsold coins each day, which would help make up for any potential profit reduction. If/when volume picks up - and it has significantly from the start of this thread - it would be easier to exit and realize your gains. Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 12, 2015, 07:48:06 AM Update February 12, 2015
Let's see how Fred is doing after another week. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart. BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i60.tinypic.com/97mvl0.png Based on MMXIV's 2014% annual interest rate, compounded daily, on February 11, 2015 his wallet now contains 470.90 MMXIV, more than TWENTY THREE TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $1012.32 or BTC4.61 The price of BTC/MMXIV decreased by 48.42% The price of BTC/USD dropped by 37.80% The $USD value of Fred's MMXIV wallet increased by 655.40% from $134.01 to $1012.32 The BTC value of Fred's MMXIV wallet increased by 1,578.19% from 0.38 BTC to 4.61 BTC Due to MMXIV's powerful 5.5% daily compounding, Fred has already completely recovered from MMXIV's 50% price drop in the past two weeks. Just look a few posts above to his Jan 28 update (https://bitcointalk.org/index.php?topic=926145.msg10307514#msg10307514). 2 weeks ago the price of MMXIV was 0.02, today it is 0.009, yet his wallet BTC value has increased, and his wallet $USD value has only dropped a few dollars. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on February 12, 2015, 11:44:38 PM Update February 12, 2015 Let's see how Fred is doing after another week. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart. BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i60.tinypic.com/97mvl0.png Based on MMXIV's 2014% annual interest rate, compounded daily, on February 11, 2015 his wallet now contains 470.90 MMXIV, more than TWENTY THREE TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $1012.32 or BTC4.61 The price of BTC/MMXIV decreased by 48.42% The price of BTC/USD dropped by 37.80% The $USD value of Fred's MMXIV wallet increased by 655.40% from $134.01 to $1012.32 The BTC value of Fred's MMXIV wallet increased by 1,578.19% from 0.38 BTC to 4.61 BTC Due to MMXIV's powerful 5.5% daily compounding, Fred has already completely recovered from MMXIV's 50% price drop in the past two weeks. Just look a few posts above to his Jan 28 update (https://bitcointalk.org/index.php?topic=926145.msg10307514#msg10307514). 2 weeks ago the price of MMXIV was 0.02, today it is 0.009, yet his wallet BTC value has increased, and his wallet $USD value has only dropped a few dollars. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). That red curve is about to hit the sky Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on February 19, 2015, 01:42:17 AM Time for an update.
Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 23, 2015, 11:08:43 PM Update February 23, 2015
Sorry for the delay, update is below. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart. BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i62.tinypic.com/25qq7vd.png Based on MMXIV's 2014% annual interest rate, compounded daily, on February 18, 2015 his wallet now contains 685.0 MMXIV, more than THIRTY FOUR TIMES the coins he originally purchased. His ending MMXIV $USD wallet value is $555.81 or BTC2.39 The price of BTC/MMXIV decreased by 81.66% The price of BTC/USD dropped by 33.96% The $USD value of Fred's MMXIV wallet increased by 314.75% from $134.01 to $555.81 The BTC value of Fred's MMXIV wallet increased by 528.07% from 0.38 BTC to 2.39 BTC MMXIV's market price has dropped significantly in the past two weeks. Thankfully, MMXIV's powerful 5.5% daily compounding has prevented further loss - in fact, Fred is still ahead over 300% from his initial investment. He is far, far better off than he would have been if he'd just left that BTC in his wallet. As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: AdamWhite on February 23, 2015, 11:16:20 PM Great for fred, what about the ones that bought at 0.02 a week ago >:( ::)
Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 23, 2015, 11:26:11 PM Great for fred, what about the ones that bought at 0.02 a week ago >:( ::) Just hold on and stake. Every 2 weeks, your balance doubles. In a month, it quadruples. One month of staking earns enough coins to make up for a 75% drop in price. It takes about 40 days of daily compounding at 5.5% to reach 10x your original balance. You don't lose any money until you sell at a loss. STAEK AND HODL Title: Re: A story about Fred, the MMXIV Prospector Post by: The Chainmaker on February 24, 2015, 02:27:27 PM Fred's Story: The other half.
Fred goes around telling everybody about how much money he has made! Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it. Fred and his buddies are left holding a bag. MONEY IS NOT FREE Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on February 24, 2015, 02:53:21 PM Fred's Story: The other half. Fred goes around telling everybody about how much money he has made! Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it. Fred and his buddies are left holding a bag. MONEY IS NOT FREE Except we are all well known addresses that are easily watched on the Rich List and have only been accumulating. Nice theory, though KNOWLEDGE IS FREE Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 24, 2015, 04:17:50 PM Fred's Story: The other half. Fred goes around telling everybody about how much money he has made! Fred's friends buy and the friends of the those friends buy, and then the devs dump the shit out it. Fred and his buddies are left holding a bag. MONEY IS NOT FREE If this were the case, the "devs" would have all run off by now. Just keep an eye on this thread, I will update it every week, good news or bad. Title: Re: A story about Fred, the MMXIV Prospector Post by: nembot on February 26, 2015, 05:24:47 PM ok bought some coins & they've been in my desktop wallet for 24 hours.
First Proof-of-Stake coin for me. Read through ANN thread for an hour but couldn't find what I need to know. Wasn't sure exactly when the higher % POS started. sorry to ask the basics but... Do I need to do anything now or will the coins just start staking when they mature? I'm on a laptop. Does it need to remain switched on & not sleeping all the time? Or can I switch it of? What about the wallet? does it have to be open to be staking? Thanks very much Title: Re: A story about Fred, the MMXIV Prospector Post by: nembot on February 26, 2015, 06:00:32 PM all questions IMMEDIATELY answered by iGotSpots on MMXIV ANN thread - thanks mate!
J Title: Re: A story about Fred, the MMXIV Prospector Post by: Kaenguru on February 27, 2015, 10:56:21 AM The price falls faster, than Fred can double or quadruple his Wallet.
I bought 60 MMXIV by 0.02 exactly 4 weeks ago. 60MMXIV - 0.02 - 1,2 BTC / 27.01.2015 Now, after 4 weeks POS, my Balance is 300 MMXIV. 300MMXIV - 0.0014 - 0,42 BTC / 27.02.2015 That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks Correct me if i'm wrong. Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on February 27, 2015, 02:50:37 PM The price falls faster, than Fred can double or quadruple his Wallet. I bought 60 MMXIV by 0.02 exactly 4 weeks ago. 60MMXIV - 0.02 - 1,2 BTC / 27.01.2015 Now, after 4 weeks POS, my Balance is 300 MMXIV. 300MMXIV - 0.0014 - 0,42 BTC / 27.02.2015 That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks Correct me if i'm wrong. Your math is correct but I think you are being a little short-sighted. No market is trending up 100% of the time. Long term average gains are what matters. You never lose money until you sell at a loss. Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on February 27, 2015, 05:45:09 PM The price falls faster, than Fred can double or quadruple his Wallet. Actually the math is wrong. You can never lose more than 100%. Your theoretical loss as calculated above is 65% [(1.2-.42)/1.2]I bought 60 MMXIV by 0.02 exactly 4 weeks ago. 60MMXIV - 0.02 - 1,2 BTC / 27.01.2015 Now, after 4 weeks POS, my Balance is 300 MMXIV. 300MMXIV - 0.0014 - 0,42 BTC / 27.02.2015 That is a loss of ~ 0,8 BTC ~ 1400% in 4 weeks Correct me if i'm wrong. The only thing that can stop the slide in price is an increase in demand. The supply from sellers grows every day as their staking generates more coin. As has been pointed out before, the hope for coin holders is that the rate of staking exceeds the decline in price. Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on March 07, 2015, 12:02:55 AM Time for an update!
Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on March 12, 2015, 05:02:06 PM OK, thread abandoned. No more updates.
Title: Re: A story about Fred, the MMXIV Prospector Post by: thc4me on March 12, 2015, 06:33:52 PM OK, thread abandoned. No more updates. Next weeks headline, Fred, the beloved investor, was found hanging in his run down apartment after a call from concerned neighbors. It was an apparent suicide. The whole place was trashed and police are still trying to decipher the many written Roman numerals and mathematical formulas covering the walls and floors. More updates to follow.... Title: Re: A story about Fred, the MMXIV Prospector Post by: chilly2k on March 12, 2015, 06:41:27 PM OK, thread abandoned. No more updates. Next weeks headline, Fred, the beloved investor, was found hanging in his run down apartment after a call from concerned neighbors. It was an apparent suicide. The whole place was trashed and police are still trying to decipher the many written Roman numerals and mathematical formulas covering the walls and floors. More updates to follow.... LOL.... To bad we can't see the bad with the good. When you make assumptions and things look to good to be true, they usually are. It would still be nice to follow the numbers even if they are not good news. We can still learn from our failures... Title: Re: A story about Fred, the MMXIV Prospector Post by: AdamWhite on March 12, 2015, 07:54:09 PM Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on March 12, 2015, 08:17:57 PM I don't mind watching a long term play go down in the short Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on March 13, 2015, 04:19:27 PM I don't mind watching a long term play go down in the short Title: Re: A story about Fred, the MMXIV Prospector Post by: Mortimer452 on March 13, 2015, 07:03:47 PM Update March 13
Been awhile, but the update is below. Prices for BTC/USD are taken from the Winkdex and prices for MMXIV/BTC are from the Bittrex daily chart. BLUE line indicates BTC/USD value expressed in $USD RED line indicates size of MMXIV wallet expressed in MMXIV GREEN line indicates $USD value of MMXIV wallet http://i60.tinypic.com/efjejs.png Based on MMXIV's 2014% annual interest rate, compounded daily, on March 12, 2015 his wallet now contains 2,224.57 MMXIV, well over 100 TIMES the coins he originally purchased. His ending MMXIV wallet is worth $402.52 or BTC1.36 The price of BTC/MMXIV decreased by 96.78% The price of BTC/USD dropped by 16.02% The $USD value of Fred's MMXIV wallet increased by 200.37% from $134.01 to $402.52 The BTC value of Fred's MMXIV wallet increased by 257.68% from 0.38 BTC to 1.36 BTC MMXIV's market price has dropped a lot in the past month or so. Thankfully, MMXIV's powerful 5.5% daily compounding has prevented further loss - in fact, Fred is still ahead over 200% from his initial investment. He is far, far better off than he would have been if he'd just left that BTC in his wallet. You can see how how INSANELY FAST his MMXIV wallet is growing now. This is the power of compounding interest. With a balance of 2,224.57 MMXIV, he is earning roughly 122 MMXIV per day, worth about 0.07 BTC per day. This is with ZERO overhead costs for mining hardware or electricity. Based on current rates from CoinWarz (http://www.coinwarz.com/cryptocurrency/?sha256hr=7000&sha256p=1180.00&sha256pc=0.1000&sha256c=true&scrypthr=75000.00&scryptp=1500.00&scryptpc=0.1000&scryptc=false&scryptnhr=875.00&scryptnp=420.00&scryptnpc=0.1000&scryptnc=false&x11hr=13500.00&x11p=600.00&x11pc=0.1000&x11c=false&x13hr=9750.00&x13p=600.00&x13pc=0.1000&x13c=false&keccakhr=1260.00&keccakp=825.00&keccakpc=0.1000&keccakc=false&quarkhr=6300.00&quarkp=825.00&quarkpc=0.1000&quarkc=false&groestlhr=45.00&groestlp=825.00&groestlpc=0.1000&groestlc=false&jhahr=14000.00&jhap=350.00&jhapc=0.1000&jhac=false&blake256hr=6.40&blake256p=450.00&blake256pc=0.1000&blake256c=false&neoscrypthr=400.00&neoscryptp=400.00&neoscryptpc=0.1000&neoscryptc=false&lyra2rehr=3300.00&lyra2rep=825.00&lyra2repc=0.1000&lyra2rec=false&e=hitbtc) it would take about 7 TH worth of mining power to earn 0.07 BTC per day. Let's break down the cost: Mining hardware: 6x Antminer S5 at 1.1TH each: BTC1.28 * 6 = BTC7.68 ($2,214) initial investment Power consumption 590w * 6 = 3,540W $0.10 per KwH (if you're lucky) means these miners cost $0.35/hr to operate, roughly $252 per month Initial investment: BTC7.68 or $2,214 Monthly operating cost: ~BTC0.87 or $252 Daily operating cost: BTC0.029 or $8.352 Daily earnings: BTC0.07 or $20.16 Daily profit: BTC0.041 or $11.80 Days to ROI: 187days at BTC0.041 profit per day Staking with MMXIV: Purchase of 2,224 MMXIV: BTC1.44 or $414.72 Purchase of Snowball (http://gorillastake.com/shop.html)staking hardware: BTC0.35 or $99.99 Power consumption: Negligible - runs on your PC which is on all the time anyway, or the Snowball (http://gorillastake.com/shop.html)which uses only 5 watts Initial investment: BTC1.79 or $514.71 Monthly operating cost: BTC0.001 or $0.36 (based on 5W Snowball) Daily operating cost: BTC0.000034 or $0.01 Daily earnings: BTC0.07 or $20.16 Daily profit: BTC0.069966 or $20.15 Days to ROI: 25.6 days at BTC0.069966 profit per day As before, if you doubt any of this, the raw data used to perform these calculations can be found here (https://docs.google.com/spreadsheets/d/1t_x3HDhzqHSGabjIWAqFfz-gY8Yfk39EGWS79fI43nw/edit#gid=0). Title: Re: A story about Fred, the MMXIV Prospector Post by: iGotSpots on March 26, 2015, 07:13:28 PM Fred must be loving this stagnant price. Making more doing nothing than he would chasing pumps
Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on April 10, 2015, 09:42:48 PM Time for an update!
Title: Re: A story about Fred, the MMXIV Prospector Post by: Phosphorous on April 20, 2015, 05:11:39 PM Almost a month and no update. I guess people have lost interest.
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