Beginners guide to Cryptocurrency Mining! HODL & MINE w/ Coinmine.

in mining •  2 months ago 

You have invested in cryptocurrencies, you are excited about all of the new opportunities continually being created in the digital realm and you don't plan on abandoning decentralized protocols anytime soon.

Why not start cryptocurrency Mining and support the movement in a greater capacity - instead of attempting the daunting task alone why not try getting a slick new Coinmine One console... or three for good measure - YES it is an investment and YES it is worth it.

https://coinmine.6pao26.net/yKLXb

Coinmine-One.png

Made for simplicity, quiet and compact, set up in seconds and easy to use.

COINMINE ONE!

So I encourage everyone to do their due diligence when it comes to buying ANYTHING online but I am in full support of Coinmine One and the opportunity it provides ANYONE looking to invest in cryptocurrency and have a greater ROI than just HODLing will do.

Here is a quick break down a friend of mine shared lately:

Let's say you own 1 Coinmine. Average sats/day ~5,300 but use 4000 & 5000 as the example since these numbers are posted on the Coinmine website. The average kWh/day is 3.3, monthly average is 100.38. Duke Energy average $/kWh (RDU NC) $0.10118. Monthly price to run $10.15

At 4000 sats/day, BTC needs to be priced at ~$8340 for me to break even. At 5000 sats/day, BTC at $6673 for break even on $10.15/month increase in electric. One way of looking at this is expense vs gain. Or you can view increased bill as a monthly BTC Dollar-Cost Averaging.

For $10.15 per month, I am acquiring 5000sats, or 0.00152 BTC. If BTC is at $8000, that’s $12.17 worth of BTC each month, or a 20% premium. At 4000 sats, that’s $9.73 BTC each month, or a 4% loss. If you think BTC will never ascend or stay above $8,300, then no ROI makes sense.

But what happens if BTC continues to grow in demand globally. 4000 sats/day with an energy input of $10.15/month when BTC is at:

$9k - $10.95/month (8% premium to cost)

$10k - $12.17/month (20% premium)

$15k - $18.25/month (80% premium) ...and so on.

So I ask, is $10.15/month an expense or a way to DCA into BTC at a fixed, discounted price?

Obviously, specific sat/day & state-based energy rates will affect these numbers, along with spread between BTC $ value vs other ‘mined’ digital currencies.

Not forgetting the ~$700 upfront. Strictly ROI focused, it may be hard to break even. But considering the intangibles of frequent software updates, plug-in-play nature, soon-to-come full node (my RaspiBlitz node ~$200 + setup time), continued network growth, etc. You decide...

For ~$700 + $10.15/mth in energy, you have a device that DCA’s my $10.15/mth into 5000 sats/day as if BTC were fixed at $6673 (current price $9340) + no manual updates, upcoming full node, etc.

The number one principle for success is that you need SKIN IN THE GAME.

Hope you found this informative if not revelatory and perhaps you'll have a shiny new Coinmine One mining sats ASAP.

They often do discounts and the latest one is to save $50 + free U.S. shipping on a Coinmine, use with code MINEHNS.

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