I want to share something a friend has written and someone who has been doing this for a lot longer than myself. This is a post he has just put on his wall and he’s given permission for me to share it. This right here is what it’s all about. In my time I’ve seen dips but I’ve also seen bitcoin BREAK its record high TWICE. It’s long but worth the read. If you haven’t decided yet, it’s always the right time.
Truth about why I mine Bitcoin
📈CAN YOU LOOSE YOUR MONEY??? 📉
👀This is the first question everybody wants answered. Let me explain this in easy terms.👀
↪Let’s do the Math
If you were to buy packs equivalent to 1 bitcoin you would spend $7215 at todays price and it would buy you 90pks. If you then compound your returns 100% for 1 yr you will end up with 584pks which is 6.25 bitcoins, worth a total of $45093.75!!! This is if the price of bitcoins stay at todays price for the whole year.
📉Now if bitcoin was to drop by 50% in that year and was only worth $3607.50, you will still end up with 6.25 bitcoins but the value of them will be $22546.87!!!!!
📉Lets look if it drops by 75%…its now only worth $1803.75. You still have 6.25 bitcoin and it will be worth $11273.44 so you are still infront by $4058.44!!!! This is fantastic and certainly no loss.
📈On the flip side, what if bitcoin increases like its predicted to….if it goes up to $10,000 your 6.25 bitcoin are now worth $62500!!!
📈if it climbs higher to say 15000 which experts feel is very possible in the next 12mths…your 6.25 bitcoins will now be worth $93,750!!!!!
👉The main point i am making here is that with compounding your returns, it makes no difference what bitcoins price is doing…you will still end up turning 1bitcoin into 6.25 bitcoins in 280 working days (1yr) and if the bottom falls out of the price, which is highly unlikely but not impossible, you are still going to make money!👈
📝These results are simple maths…you will still get the same % growth on smaller starting figures…i have just kept it simple working on a whole bitcoin value.