Month: May 2018

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Leave the Party

Like so many tech trends, once something becomes mainstream it simply loses its appeal.  I started DIY mining years ago but quickly figured out that the cost of the hardware, maintenance and most importantly my electricity bill made it a potentially high overhead experiment.

With some many active serious investors hunting for crypto currency, the energy costs are ramping up.

BitCoin costs too much energy (report May 2018)

This report suggests that in a few short months it will no longer be feasible to mine cryptocurrency.  Hopefully, the masses will get the heads-up and go back to what they were doing before the media hype.

Cryptocurrency cost on the rise

 

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Crypto Fool

My Omnia Cloud mining has yielded disappointing results so far but this is not surprising considering the massive drop in values.

After an initial investment of 500 USD
Current mining Earnings 0.72 USD per day
Means it will take a whopping 694 Days to break even,
...that's just under 2 years.

It seems Omnia makes more money from the Multi-Level Marketing aspect than the actual mining at the moment.  The Pay-out procedure is very rigid, ridiculously slow and non-transparent only allowing me to withdrawal my cryptocurrency once (1) a week on Thursdays.

With this scenario, it’s easy to see why Newbie Crypto investors would be sceptical but it all depends on your reasons for getting into Crypto.  For me, the opportunity to remain unseen by central banking is attractive.  Also,  sidestepping the technical hassle and cost of setting up mining servers is excellent.

Today’s Lesson: Define your Crypto goals whether it’s short-term profit to be transferred back to Central banks or leveraging the ability to buy or sell using Cryptocurrencies.

After all, Money is just one big Game anyway

Where’s my Hash Power? – Hellblade: Senua’s Sacrifice
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Coming out of retirement

Well, I’ve finally earned the FarCry 5 Platinum after some cheesy Arcade gameplay.  Anyhow,  it’s back to FallOut 4 to finish the story while I wait for Detroit: Becoming Human in 20 days.

Far Cry® 5 – Chessy Arcade gameplay