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As to costs..I figured it out a couple months ago and btc would have to dump to like 201.50 or some such per btc for me to start losing cash.
That sounds like a pretty decently low average cost per BTC
As to BTC for equipment ...the around 2750 mh of miners I got this year...have ROI'd already..I started with 100 btc in July ..took a loan out..bet on BTC going up
and now I'm at 100.07 btc again...so.....from this point on (so far) I'm making 1900 a month yet..that is profit...less the electric from 2013 till july 2015 (was cash)
and the cash I paid for the orig knc 550gh jupiter 7,131.80 and the 10,131.80 for the orig titan...all else is paid off and did not count psu's etc. So it comes out to
for my current 100.07 btc (or was yesterday) to $25,050 usd invested yet...rest is paid roi'd ...3200mh mining 13200 watts 10c kwh ...so....I think it is 1900 a month
LTC now...
so from this point on...should I mine the DEBT I have left down...or should I hold/hoard? above the 100 BTC floor I had before I got the 7 knc titans this last year?
I personally believe that it is a separate calculation regarding whether you should sell some BTC while the price is going up. The calculation, in my thinking, is not so much about your costs but instead about the anticipated future price direction of BTC, and whether you believe that you need to protect the value of any of your holdings by selling a bit (and of course you could buy them back cheaper if they were to go cheaper, but if they don't you just have that sell off as a form of insurance).
I have already disclosed on several occasions that I don't really bet on either up or down, but instead I employ a long term strategy that allows me to buy on the way down (because I am using the proceeds from the sales on the way up). I would not be able to buy on the way down if I did not sell on the way up... but if it does not go back down, I still have the fiat to use for other purposes (besides just having it as insurance)
again don't care IRS has my sights on coinbase etc...that is why I have a CPA..
sure some of the tax implications can become a bit convoluted and helpful to have a CPA to assist with some of the calculations.
as to openess.......its been a strange trip.....got to vent someplace
or I could subtitle the trip: Don't do what I've done........in many,many cases
You can chose whatever level of particulars that you want, and if no one provided particulars, then maybe it is more difficult to figure out or to be as helpful to others. I think that I also provide a considerable amount of particulars without necessarily disclosing my millions of bitcoins in holdings... .whoops... I shouldnt have said anything.
yeah I do long term but from a hobby point of view also....like to mine and had some luck on miners to extend that streak....thus...with the equip depr etc
what you mine in a year...the heat benifit...just the fun..it always was long term
in 2014 I held like I think it was up to 7k of LTC or some such ...a lot pumped out of 2 titans at 735mh or so.....just pissed off at the 1.80 price and ltc
to btc ratio etc etc...damn the torpedos full speed ahead..ie long term suicidal plan
sold at like 3.80 or some such and then that was before halving for a lot of it
some of that LTC was bought also
moved it all to BTC thou
then further pumps
so it is a long term case as long as i can justify equip costs/equip depreciation/taxes on income/etc and of course heat the house etc
it is just a matter since 2013 of how long can I keep the hamster wheels going
too bad you or others that trade are not in town to diversify some angles and vice versa (at least the heat angle always makes some sense)
but just kinda blunder along by my lonesome with the occasional yelp of panic and yell for help on here and/or warnings of hey i just did something
really really stupid..don't be me (bfl comes to mind)
hey its fun...if it ends this year or next I may have to take up a life of crime just to get my daily adrenaline kick
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