Yep I still believe in Bitcoin...drank the kool aid ...got the t-shirt.....but how I plan on 'solidifying this position" to others is below.....ie the evil genius plan below
Well I'm mining LTC to BTC....around May 1st I will likely hit 100 BTC from all my mining since Oct 2013 (KNC 550gh Jupiter) to the present 2 Titan Scrypt miner still bringing in after electric more then 650 a month $425 a month after electric.
So.....never expected the Titans to last beyond Aug 2015.....will get to 100 BTC ...with electric that will be 4.25K since 2013 and 18k in equipment or 22.25k more or less my total
investment in crypto....I have 'eaten' the electric costs throughout and until may 2016....thus pumping the hoard up to 100 btc but enough is enough....
Thus I will hope for the pump in BTC (and LTC likely will follow) if BTC hits the 650 usd this year folks are saying ..then at the 0.008 ratio of LTC to BTC that is $5.20 LTC
to make this above even more attractive (see below)
So anyway AFTER I hit 100 BTC May 1st or so. All of my mining profits will go to pay off my COMPLETE utilities on the house...both the miner electric and cell phone/inet/gas
water etc etc complete. I have NO debts...so my remaining salary will be food and other
If I'm lucky that will come out to about 7K by the end of the year (with a modest BTC bump and corresponding LTC bump in price likely after halving hopefully). Just have to get to OCT 2016 and my electric rates for May of 14c kwh will decrease to 10c kwh again (Oct) for heating the house (85% miner heated last year)..thus 'squeaking the homer miners along longer"
so taking off about 7k (or in my mind the $7,131.80 my orig KNC 550gh Jupiter cost me in 2013 and made 53 BTC) then my COMPLETE investment on this 100 BTC will NOT
be around 22.25k but hopefully around 15k ...for whatever value 100 BTC is at that time (in nice safety deposit box in my bank as paper wallets don't ya know)
Its all about 'keeping score' and 'winding this all up' in a prudent fashion
So anyway it is a frigging ASIC miracle that I got to 100 BTC ....so now to wind this home mining up in the next 6-9 months and knock down the original investment
sure another 10 or more BTC would have been nice to hoard...but I mean really....how lucky do I want to push this?......again I expected these miners to be 'doorstops' with new scrypt
equip by Aug 2016
anyway the plan
Also an 'excellent way' to shut people up who say BTC and LTC and crypto are a joke...damn hard to give me crap about it now with 100 BTC in the hoard say and
all my utilities PLUS (at least of a few months) in the bag....for the rest of this year at least and ...ideally I can stretch this out after Oct 2016 on the 14c kwh to 10c kwh electric decrease (xcel 6 months either) to May of 2017 when the electric prices go back to 14c kwh and heating the house benifit goes away...
again..... hopefully a pump in price of btc and ltc at halving thru winter of 2016 to say next May 2017 when the elec goes back to 14c kwh...the odds are long on this without
a decent pump in BTC and LTC following at halving..but hey I have a shot at this
anyway looks like my friends 'intervention' on my behalf on the BTC cult and implosion will have to wait somewhat
I'm looking a 'bit' less crazy then in 2013/14/15
anyway my amusing way to look at all this and play games with how I've done with crypto .....in my own mind ....got to keep entertained somehow next year under a Trump Presidency (shudder)
anyway anyone home mining under Xcel in upper midwest USA I can tell you how I got the price per kwh knocked down from 14c to 10c kwh ..the short answer is the Xcel rep lady
asked..I said i had 'server equip I had to keep cool in summer and warm in winter" (a bit of a white lie) just before I was gonna hang up because the thread of my 250 buck increase
in electric costs was making me nervous...she informed me that the 'winter heating rate" was down from 14c kwh to 10c kwh ...am I heating the majority of my house with electric heating?
that kinda got my attention..sure they are going thru the titans first but 3100 watts make dandy 'space heaters' I even had told her it was server equip and told her I'd be willing to
do an inspection (what the heck the inspector would have laughed said 'nice try' and still same 14c kwh) but she just toggled it and viola
Anyway it was Xcel I'd assume others
with Winters may have similar plans.
not many people pm'd me on this but then again home mining is kinda dead
We will see pm me in 6 months if you want to see if this 'evil plot' works out
(or still want to winter mine for heat like me)
later