In my previous blog post, I blogged about getting into cloud mining with Hashflare. I opened a year's contract service with them on 29th Dec 2017. 10 days have passed since then. I funded my btc mining account with USD$500. Below screenshot shows the amount of bitcoin that I currently have. The amount of daily maintenance fees have already been deducted.
Huh. $25.65 so little?
So I only received USD$25.65 worth of bitcoins after 10 days of mining? Actually no. I reinvested 4 days of btc mined into new contracts. $25.65 is for 5 days of mining that I didn't reinvest. Average is $5.13 per day. Do note the amount mined will fluctuate and it's not likely the price of Bitcoin will stays the same.
Currently, there's around 16.8M of Bitcoins supply on the Market. There will only be 21M of Bitcoins that can ever be produced. Therefore we should try to get in as early as possible. The mining difficulty will only get higher as time passes. However, only get in if you believe Bitcoin price is going to increase over time. For those who feel Bitcoin is overpriced and it is a bubble, there's no reason to go into Bitcoin mining.
Screenshot from Coinmarketcap
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For those who think cryptocurrency "bubble" is going to explode soon, take a look below:
Some Crypto Exchanges that carry altcoins are seeing the traffic surge that they couldn't support new clients. People are still trying to get into the Crypto Market. Have you ever seen our local exchange or stock broker rejecting new clients? 2018 is the year for altcoins and ICOs. Happy investing!