This 9-minute video looks at what Bitcoin means for ordinary people and why the development of this cryptocurrency is such an important development in giving people back sovereignty over their own money (skip the first minute if you don’t want to see what sending an email was like back in 1984 and 1994).
I bought my shares with them on October 1st and purchased some additional shares two weeks after that. No other shares were bought. I did get some additional shares through referrals (I opted for commissions to be paid in shares rather than dollars), which added about 13.5% additional shares into my account. Without those, ROI would have taken a week longer.
If you follow what economists and financial commentators like Max Keiser and Mitch Feierstein, among many others, have to say, the wool is being pulled over our eyes by both bankers and governments in how well various economies are actually performing.
Inflation figures are massaged so that they seem to be in the 1-3% range when anyone who buys groceries and pay the bills knows that figure is closer to 10%, if not more.
I thought I’d provide a regular update on how my cryptocurrency investments are going on a roughly weekly basis. Hopefully, it will provide readers looking at this type of investment with some information to make their own decisions on.
Mining At Home
I’m not currently mining at home. My mining rig (a PC with a Sapphire R9 280x video card running BAMT 1.6) has been turned off for a few months now. Electricity where I live costs almost three times what it does in the USA, so that killed any remaining profits in the rig.
As you’ll know from my other recent posts, I’ve invested some money with GAW Miners and their Hashlets for cloud mining altcoins. These pay out about 0.9% (just under 1%) per day, so they look to be a good place for long-term investment. They also have a thriving community and it’s there that I first learned of LTCGear, the subject of this review. Litecoin Gear (LTCGear) have been around for well over a year, a pretty long time where Bitcoin/cryptocurrency companies are concerned. Initially the owner sold FPGA (Field-Programmable Gate Array) scrypt mining hardware to customers. But …
Last night I watched The Rise and Rise of Bitcoin, a new documentary about one man’s obsession with the digital currency and some characters he meets along the way.
It would make good viewing for anyone who’s heard of Bitcoin but doesn’t understand it. Anyone who does Bitcoin or Altcoin mining knows just how difficult it is to explain the concept behind it to regular folks. This documentary gives a good introduction to the whole Bitcoin concept.
The Central Protagonist
The film is centred on Bitcoin enthusiast, Daniel Mross, whose brother happens to be a filmmaker (hence, the documentary). …
I wanted to give an update on how my mining contracts with GAW Miners have performed over the 1 month I’ve had them.
GAW provide three types of mining contracts known as “Hashlets”.
1. Genesis Hashlet (SHA-256)
These mine Bitcoin directly and hashlets are sold in units of 10Gh/s. Fees of $0.02 per 10Gh/s per day are charged (Gh/s is a measure of hashing power – if that means nothing to you, think of it as a set amount of computing power dedicated to mining). I don’t have any of these hashlets.
Yesterday, I bought a Hashlet Prime from GAW Miners. These are their most expensive miners at $49.95 (which I talked about in the Assessing Altcoin Mining Contracts post. This hashlet only mines at 1 Mh/s for Scrypt, just like the Hashlet Solos which cost half the price. But when switched to mine Bitcoin (SHA-256), they will hash at 40 Gh/s. They’re not at that speed yet, but will be ramped up to that rate over time (sooner rather than later).
Why Buy A Hashlet Prime?
As these particular hashlet mining contracts don’t appear to be good value, why buy one? …
After looking at the various options I talked about in the Assessing Altcoin Mining Contracts post, I decided that I’d buy Hashlets (virtual Bitcoin and Altcoin miners) from GAW Miners.
There a three types of Hashlet on offer. I was thinking about getting one or two Hashlet Primes over the weekend, but the $10 price hike on those on Monday put paid to that idea. They’re supposed to be their flagship product, but they don’t seem to do anything different to the other Hashlets apart from offering the ability to mine both Bitcoin (SHA-256) and Scrypt for $49.95. They’re also …
The Mt.Gox debacle has got some pundits chirping about how it will bring about the fall of Bitcoin. I came across this article in which an economist puts forward her ideas on why Bitcoin is a failed experiment and why it’s value will drop to zero.
I don’t agree with her, and here’s why (you’ll need to read her article first):
She’s wrong on this statement: “Fiat currencies (money) are pegged to real assets and backed by governments“. Fiat currencies are basically backed by hot air and not by real assets. That all stopped when the dollar was