Flipping Bitcoin

Buy Low - Sell High

Everyone knows this basic principle to make some money at investment. This can be used in the stock-market and the like, but also a fantastic principle to keep in mind when dealing with bitcoin.

Bitcoin has massive volatility like stocks do, but keep this in mind not when you are buying and selling bitcoin, but buying and selling THINGS with bitcoin.

I use this principle when I purchase cloud hash power for instance, let's have an example.

If I have a large sum of bitcoin, let's say 4 BTC, and I want to buy cloud-mining from Hashie.co. They sell at a rate of $4.90/ 10GH.

@ Bitcoin price of $350: 4 BTC X $350 = $1400

You can purchase 2857 GH/s

@ Bitcoin price of $400: 4 BTC X $400 = $1600

You can purchase 3265 GH/s

Now, with the above example you can see a large difference in the amount you can purchase (You already knew that) but when you can resell this hashpower when you're made enough, you can sell them at the lower rate of $350 so you get a larger BTC return. Which, in-turn either allows you a bigger cashout, or a larger re-investment! Win-Win

Comments

Antminer S3 Setup Guide & Review

Overview This is for the Antminer S3 , mine are batch 11. So to get started, the units are very nicely made from my experience, and actually not too bad to get started with. You're going to need your miner, a PSU (power supply unit, like the one in your PC) and an Ethernet cord. S3+ Specifications: Hash Rate: 453 GH/s±5% with great OC potential Power Consumption: 355 Watt at the wall Power Efficiency: 0.78J/GH on wall Power Supply: 12V DC Size: 331 mm x 137 mm x 160 mm Fans: Two 14038 fans mounted on both front and back ends Operating Temperature: 0 °C to 35 °C Complied with: FCC / CE Network Connection: Ethernet Power consumption: This figure depends on the PSU efficiency, ambient temperature and the accuracy of the power meters. Step One: Network Let's prepare your network. You need to have your routers IP address to look something like 192.168.1.X. The x can be reall...

Setting up a self maintaining miner (Windows GPU CPU miner)

Problem I run a 125MH/s ETH GPU mining rig but I was having issues where it would restart intermittently and when it would come back online it would obviously stop mining and i would lose mining time because of it. Solution Automatic restart Run your miner automatically on startup This is actually a very simple way to keep your miner in check so you don't encounter much or any down time. As an added bonus, it's very simple to set up. Automatic restart Search for "task scheduler" in your windows search bar and open it. Now select "Create Task..." from the right side panel. Give your task a name and check the "run with highest privileges" checkbox Go to the "Triggers" tab and click the "New..." button. Here you should select "Daily" and select a date and time you would like this task to be run. Once you're done with your selection, click "OK" Go to the "Ac...

BTC-Flow

Today I'll be giving a bit of a look into BTC-Flow . It's a game based bitcoin faucet that has me pretty into it. No more of the jumping from site to site clicking your way through pop ups and other fun activities. The concept of the game is that you run a company. At first, your company mines bitcoin and has a earning rate of 0.0000015 BTC/Min and your max capacity is 0.000012 BTC. Your part in running this company is getting the bitcoin from your company either before or after your max capacity is hit. You then need to click once your bitcoin capacity is reached to put that balance into your main bank. From here you basically repeat this as much as you'd like. If you really enjoy this, you can "level" your business with bitcoin to increase capacity and earning/min at any point. If you like faucets, you need to check this out . BTC-Flow.com

My Bitcoin Mining Experience

Search This Blog