How appealing is bitcoin farming, really?

May 17

There has been recently so much controversy around Bitcoin, the all-new electronic currency. Everyone appears to be captivated by the newest kind of currency. With all the hypes and poor-to-riches story, most people are thinking about jumping into it and set up their own bitcoin farm. But do you think you are up to it? Have you determined what the ROI would be like?

Obviously, anyone who’s developed interest in establishing their bitcoin mine are attracted by the massive payout.

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To me, such expectation is the natural consequence from all of the media hypes surrounding the newest electronic currency. I’m sure you would have heard about a lucky Norwegian guy who spent mere US$26.60 only for that sum to magically change into US$886,000 in 2013. I’m not intending to tell you how much return of investment that is equal to. You can do the the maths yourself.

Tales as this are what bring the fools to the picture. Everybody wish this guy has been them. That relates to me too. Everybody hopes to generate huge fortune when they think about creating their bitcoin mines. But is it practical? It would have been 5 years back but, not today.

Have you looked at simply how much capital would you need or be ready to fork out to build such farm? In a recently available posting, $1,300 would be what you’d end up with after one year and this is based on the assumption that you have six hundreds quad core computers running for 12 hours each day. And do not forget that bitcoin harvesting can only get harder after each successful mine.

Obviously many claim that this analysis has been too unrealistic. Many point out the lack of optimization that’ll certainly bring up the mining productivity and hence ROI. These are valid reasons, I agree. But if you think about it, all the optimization efforts and hours allocated to it should also be taken into the overall capital requirement. When everything is considered, I really believe the situation would not have been much brighter.

If four to 5 years back you’re thinking about the stuffs that you want to do now, I salute you and you’re a genius. But if only now then you’re thinking to make the jump, I believe you don’t have clear idea on what you’re saying.

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A short bio about myself

Mar 21

I’m not sure precisely what your attitude is however for me personally, full-time office lifestyle is just not my cup of tea. Prior to this, I was disillusioned into reckoning that corporate endeavor was the path to take. I do not forget the days when I was in the university and watch those individuals in their business outfits, I thought they were fabulous. Unsurprisingly, I was genuinely energized upon college commencement and was determined to plan my future achievements.

Things are not quite the same, or somewhat are absolutely the contrary just two years after. I was fast to learn that corporate roles were dull and they were not even close to the idyllic pictures that I believed them to be. Do not be wrong. I did manage to enter among the many Fortune 500 corporations and I’m not kidding you. Subsequent to struggling 2 years of suffering being seated behind the cubical everyday and looking for the clock hand to strike past 6 pm, I made the decision that I could tolerate it no more.

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Some individuals I spoke with label me of being unpremeditated but I ought to make certain to you that it is not the situation and preceding to calling it quit, I carried out my research and look around my classmates who graduated from the same batch as me. The sad truth is even though I found a few of them to be joyful, the vast majority weren’t and they are dreadful about their profession possibly to the extent that I did. I can surely tell you that money isn’t actually the point here. As many of us were working in greatly profitable organizations, we were well rewarded financially.

If I was searching for a stable job, I probably would stick on with my job. You might label me childish however it quite simply was the office infighting that pushed me to my decision. I really like being just the way I am and cannot stand it if I have to show a side that I am not. I began to grasp that in the arena of corporate, it is not the smartest proposition that trumps, on the contrary it is office politics that win. I cannot imagine myself getting into this sort of thing for the remainder of my 20 or thirty years. I thought my life is far too precious and there are much more I can and wish to experience in life. Now that I have deserted the management and business world, I simply see myself not reversing for whichever rationality.

In the two years that I had been clung in ‘corporate jail’, I had accumulated sizable amount of financial savings that helped me to realize my other love in life and coincidentally, it is the cooking field. Guess how my life is now? (clue: I spend most of my time in the pantry) I might be expected to be working longer hours with lower compensation but I do not need to look to my watch on a regular basis just to wait for the clock to strike past six.

This is the weblog that I want to put together during my free time and I am just starting into this whole blogging stuff. They are only my way of telling what I know and go through every day. You could very well find my content interesting and that is extremely good. Else, thanks for dropping by.

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