Here we are in the early part of January 2015 and the state of cryptocurrency looks pretty bad.
The last few weeks have seen a number of things happen that have been bad for investors:
Bitcoin Price Crash
Bitcoin reached highs of $1,200 per coin in December 2013. Since then, its value has gradually declined. It’s always been a volatile currency but at least in 2014, it seemed to settle down in the $320-$380 range. It looked like Bitcoin might have matured somewhat.
Unfortunately, in early January 2015, the price crashed again. Today (Jan. 12th), it’s worth about $266. If …
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.
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 …