Re: Mining as a part of prepping
Posted: Tue Dec 05, 2017 10:39 pm
As Bitcoin is being discussed further elsewhere here I thought I'd update this topic with my latest "investment" status.
As ever, Bitcoin has been hugely volatile with many significant peaks & troughs still ongoing.
I did decide to dip in a little more, again more out of curiosity than anything else (i.e. not a serious attempt at making money) with mixed results so far.
One thing I'll say is "m really not an investor of any kind of experience whatsoever so it's not as if I watched it & tried to perfectly time my buys etc I literally just thought - WTH, I'll buy a bit more & see what happens.
So, as of today, this is where I'm at:
Original £10 bought on 12th August is (as of this minute) valued at £28.56
A further £100 I bought on 3rd November is currently worth £151.17
Another £100 bought on 3rd December is currently worth £96.16
So, thus far I'm in for £210 (plus around 3% transaction charges - let's say a further £7 total for roundness) but my "stash" is currently valued at £275.88.
Bear in mind the second £100 was only bought in a few days ago so hasn't had much chance to move as yet, at the time I bough it my £110 investment was worth around £174 so still reasonable for a couple of months elapsed.
As it happens, (due to /not/ watching activity etc) I seem to have bought the last £100 at a peak which has since gone wildly up & down since, but I fully expect it to trend upwards for the foreseeable.
I must confess, (before I bought the latest £100) I thought a lot about holding out until it doubles, then take out my original investment value - £110) meaning anything further was pure "profit" and I could no longer lose anything at all, but then I can't help but wonder how much it could turn into if I just left it to percolate as it were.
At the end of the day, even if it tumbled drastically tomorrow it's an amount I'm ok leaving tied up if/when it bounces back, but for me personally, the wondering "what if it increases seriously" is outweighing the "what if it crashes" so I'll at least keep some of it in regardless.
As ever, Bitcoin has been hugely volatile with many significant peaks & troughs still ongoing.
I did decide to dip in a little more, again more out of curiosity than anything else (i.e. not a serious attempt at making money) with mixed results so far.
One thing I'll say is "m really not an investor of any kind of experience whatsoever so it's not as if I watched it & tried to perfectly time my buys etc I literally just thought - WTH, I'll buy a bit more & see what happens.
So, as of today, this is where I'm at:
Original £10 bought on 12th August is (as of this minute) valued at £28.56
A further £100 I bought on 3rd November is currently worth £151.17
Another £100 bought on 3rd December is currently worth £96.16
So, thus far I'm in for £210 (plus around 3% transaction charges - let's say a further £7 total for roundness) but my "stash" is currently valued at £275.88.
Bear in mind the second £100 was only bought in a few days ago so hasn't had much chance to move as yet, at the time I bough it my £110 investment was worth around £174 so still reasonable for a couple of months elapsed.
As it happens, (due to /not/ watching activity etc) I seem to have bought the last £100 at a peak which has since gone wildly up & down since, but I fully expect it to trend upwards for the foreseeable.
I must confess, (before I bought the latest £100) I thought a lot about holding out until it doubles, then take out my original investment value - £110) meaning anything further was pure "profit" and I could no longer lose anything at all, but then I can't help but wonder how much it could turn into if I just left it to percolate as it were.
At the end of the day, even if it tumbled drastically tomorrow it's an amount I'm ok leaving tied up if/when it bounces back, but for me personally, the wondering "what if it increases seriously" is outweighing the "what if it crashes" so I'll at least keep some of it in regardless.