Investing Daily: Compounding Is the Key - Step By Step Instructions on How to Reinvest & Maximize Gains! - Day 20
How We Make The Magic Money
That's right! This is how we make our magic money grow with just a little bit of help from that magical "Miracle Grow" we call compounding. Yes we could just wait around and earn an extra hondo or two with our money tied up for 299 days OR... wait for it... we could compound that bitch into almost $1,500 in the same amount of time! Tell me that doesn't sound like a plan. Well how do we do that you ask? By simply reinvesting the daily interest payments. It is really quite simple and today for all those not familiar with Bitconnect I am going to show you just how simple compounding is.
As you may or may not know the Bitconnect Lending program offers a fairly consistent daily interest payment payout on principle generally in the neighborhood of around .8% although recent days have proven to be a fairly pleasant deviation from the norm for those already involved with BCC lending. Lucrative to say the least. Skip paste the tutorial to check out BCC a little more in-depth.
After setting up an initial loan and a few days go by, it is only inevitable that the lending wallet begins to start building up with some of that fat interest profit.
Step 1: Time to Reinvest!
Step 2: Select Those Funds!!
Step 3: Pound that Reinvest Button!!!
That is How Compounding is Done!
That is all there is to it. Whenever that lending wallet hits at least $10, I simply reinvest it and that teeny tiny little bit is what eventually turns into a whole ton of $$$ down the road! If you are interested in seeing what compounding interest can really do in action simply follow me as I will continue to document my compounding mission to a million right here on Steemit!
The Daily
This Weeks Interest Rates
With a blockbuster week averaging an astonishing 1.21% it was only a matter of time before a corrective day was to be on the horizon. That day seems to be here. Over the previous 30 days, an average of .94% daily return realized was remarkably higher in comparison to the previous 6 month's average of .84%. Keep in mind that when I began this project the averages were only .80% which was still more than enough to catch my attention. Regardless of a slow and low day on the horizon, I expect things will bounce back quick enough.
BCC Weekly Exchange
If Interested in Learning More Check Out My Site JHillz.com
Lending Wallet
Totals - Day 20
Total Fiat Invested = $0.00
Initial Steem Investment = $130.00
Total Referrals = 1 ($9.10)
Total Reinvested = $40.00
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STOPNo rule of 72?
Ha! That had me cracking up, lol. Pretty sure I won't be needing to figure how may years it will take to double my money. Should have at least 30x by the time a year rolls by if they can hold up to the hype! So far so good though.
While it's mostly used for annual rates it can actually be used for any rate term. Vaya con Dios then! Compound that bitch haha..."Compound interest is the most powerful force in the universe" Abert Einstein...
How does bitconnect work? Sounds like they're lending out your money. Who's paying such high interest? What if they default?
Bitconnect works a couple of ways. As a coin they can be mined, staked, and traded. The experiment I'm running is utilizing their internal BCC Lending program. The most overly simplified way to describe it is maybe thinking of it as a decentralized hedge fund? So no, they are not loaning my money out. I am loaning it to them to invest with for a potential daily return. Principle is returned at end of the loan term. So in another 278 days I should get the initial $130.00 invested in back. As simple as I just made it sound it is anything but! There are so many little "loops" created within the structure it is borderline evil-genius. That's why so many are having a hard time understanding how it works but the math works out just fine. They have an internal BTC-BCC exchange facilitating transfer between those coming in and out of BCC. Since people loan BCC to Bitconnect and Bitconnect pays profit out into USD, Bitconnect amasses BCC which can then be traded out on market. Earlier when I said borderline I really meant it. Everything is legal and the math adds up once one really begins to study all the little nuances of how Bitconnect works. Like all of this funny money we choose to play with, yes it could default however as long as people trade crypto Bitconnect will be profitable. When BTC goes down so will BCC but until that happens Bitconnect will be making money. That risk is exactly why I started this series. To try and document everything about Bitconnect Lending with 0 fiat investment so everyone could see exactly what happens if they were to put their own money into Bitconnect without anyone having to risk anything themselves. If this all goes bad and it all disappears in the night I won't lose anything but about 10 minutes of my time creating a post on Steemit that paid for the initial investment. So yes I am rooting for it to take off but if I can provide a transparent view portal into what it is, for others to checkout without risking anything of their own, well that's the beauty of Steemit!