So if you saw my post yesterday, you know that I stared a mining experiment. The mining has been going for 24 hours straight and here are my results:
The mining pool that I’m participating in will find the most profitable coin to mine at that particular time. This is why I’m mining several different coins. However, the pool also shows you the monetary equivalent of all coins converted to bitcoin. In the lower right hand corner, you can see the value of all my mining operations is 0.00006279 BTC.
At the time of this writing, 1 bitcoin was worth $1926.27. This means that my mining operation generated a whopping $0.12 USD in bitcoin equivalent cryptocurrency. Not a lot of money, to be sure but let’s take a look at the power I consumed during that time…
If you remember, my rig is drawing approximately 11.1 Watts. Over the course of 24 hours, that’s 0.2664 Kilowatts. My electric company charges me approximately $0.07 per Kilowatt. This means I spent approximately $0.018648 in power consumption. That’s $0.101352 in profit for 24 hours. Not going to move to Tahiti on that but let’s scale this a bit.
$0.101352 per day x 364 days a year = $36.89 in profit over the course of 1 year.
Now let’s run that through our USI Tech account to see how much money that means in the course of 1 year if we use the USI Tech system to compound our money.
Because USI Tech operates exclusively in Bitcoin, we’re going to go back to our original mining amount of 0.00006279 per day. Remember, that’s a bank breaking $0.12 per day or $43.68 per year (not excluding power costs).
Because the price of 1 USI Tech package is based on the BTC equivalent value of 50 Euros, when the price of bitcoin is low (as it is today) the price of a USI Tech package is more. When the BTC price increases, the price of a USI Tech package decreases. However, today, the price is 0.03049.
Now, we only have 0.00006279 in our account after 24 hours or 0.02285556 after 1 year, we will not be able to purchase a package after 1 year on mining alone. The purpose of this exercise is to show you the power of the USI Tech trading and compounding system. So we will do the math based on 1 package and then divide that result by 74.9% (The amount of a package we would be able to purchase after 1 year).
So, let’s run it through the calculator. Since USI Tech packages are contracts that expire after 140 trading days (Monday – Friday) that would equate to 261 trading days in a year. USI Tech says they will provide 1% return on capital for 140 days or 140%. So if we buy 1 Bitcoin, after 140 trading days (or 261 calendar days), we will have 1.4 Bitcoin. USI Tech also has the ability to roll your profits (or compound them, depending on your language) into purchasing additional packages. So once you have enough profit to make another package purchase, USI Tech will do it automatically for you. The calculator takes this into consideration.
OK, enough chit chat. Here’s the math:
So, a single package purchased today at 0.03049 BTC would net a return of 0.041699269041599 BTC. In USD this means $58.69 worth of Bitcoin would be worth $80.27 assuming Bitcoin held it’s current value and didn’t go up or down 1 year from now.
So, let’s back track this into our mining endeavours…
At the end of a year, we would have 74.9% of what we need to purchase 1 bitcoin package. If we were able to buy fractional packages, our 0.02285556 Bitcoin would be worth 0.0312327525121577 BTC. In USD this means that our $43.68 would be worth $60.12. And our power investment is only $36.89 over the year.
Nothing crazy to break the bank but it does prove that mining is still profitable today. And when you combine that with the power of compounding capital at USI Tech, there is the real potential to make money with little effort on my part.
Steve has been a crypto enthusiast for 5 years but only started learning the technology seriously in June of 2017. Since then, he's become widely known as a cryptocurrency expert.