Batista R. Harahap

Cryptocurrency Investment

So I had 20 mio to spend, what should I spend it to? I figured why not go crazy and see whatever high risk investments out there. I found that the uncertainty of Cryptocurrencies is a threat for some while for me, I had money I can loose.

I read a lot about mining Bitcoins and Altcoins. Simply looking at Bitcoin's value over 1 year versus its diffculty, my conclusion is that mining Bitcoins gains little. For the past 12 months, the value of Bitcoin has rose to 4.16x while the difficulty rose to 3.77x. That's around 10% of margin for every Bitcoin you mine.

However seeing that GPUs are running out of stock in the market and also ASIC hardwares are just too good to be true, it makes no sense to put 20 mio. Unless I can put a very large amount of money (which I don't have), only then it makes sense. Not to mention the infrastructure like electricity, space, etc that I must provide.

Although Indonesia is still relatively cheap in terms of electricity, 24/7/365 mining machines still needs cooling. The cost of Air-Con goes up fast, around 300 watts of cooling per 5000 watts of electricity used. There's just too much thing to prepare.

I stumbled upon Bitconnect (referral link). The low down is that put in money from $100 - $100k, gain around 30% of the value every month. Too good to be true. Yes! However, ain't all trading promises are too good to be true? The difference with Bitcoins is that the trade runs 24/7/365 using bots. There's no stopping.

So I cast aside all doubts and after reading so much, I limited myself not too read anymore. I basically bought Bitcoins and took the plunge.

Until I have anything solid to report back, I'm still skeptical. But this will be a lot cheaper than any of the previous businesses I ventured. So let's see.

24 July 2017 by Batista Harahap on investment | bitcoin | cryptocurrency | bitconnect
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