RE: Why Your Facebook Friends Probably Won't Join Steemit And Why You Shouldn't Care
Yeah I wouldn't buy SBD unless it was under $1 and was paying out a fat interest rate. Then it could be an interesting play there for passive income.
I agree with you on this stuff being thinly traded. All these exchanges with these small pools of liquidity and being traded 24/7 365.
I totally got lucky for sure last night. I usually don't try to trade at all like that. I want to be a HODLer but right now my expenses are too high for sure. Plus with the recent run ups on some of these coins it worries me. I do want to start building positions. For the time being I'm more interested in hitting it hard on here and taking some reward for paying bills but then building up my following and getting a decent base of Steem Power incase this thing pops up. Ultimately I want to be more prepared if this platform has a bad spell again like it did this fall / winter. I'm more convinced now that it won't fail because the community is too strong to let it. The people who survived that won't let it go down to nothing. We will hash it out and argue but ultimately pave a road forward.
Well, always remember that you can get coins by posting and curating, that's how I built such a surplus that I don't have to work. Now Steem is virutally my full time job. Running the witness takes very little of my time, and same with my miners. I got them running to make ongoing cash flow, so that I can expose myself to the risk of the currencies continuing upwards, which I am fully expecting.
How expensive is the electricity cost there? Electricity is basically $0.11-$0.12 / kilowatt hour here so it only makes sense to mine during big boom cycles like now. In 2014 and 2015 I had 24 GPUs cranking away hard but the drop in crypto almost crushed me. I basically lost $15,000 on it.
about 7 cents per KW in Serbia, not sure about Bulgaria, it might be more like 8-9 cents here. Serbia has cheaper energy because it is friends with russia, and the duties from russia are lower for non-EU countries buying it, plus the fuel import excise is smaller. I can't be certain, since I haven't actually researched it, but Romanian oil is also quite cheap and I think it's used in power plants, in several countries nearby, and, of course, a lot of the wells in Romania are russian owned as well.
One thing that is different now is that bitcoin is pretty much impossible to profit on. However, right now, it's about 130 days ROI on average if you use a service like nicehash, so in 3 months time I'm at break even. But I mainly set the miners up for cashflow, and if they manage to pay themselves off, that's a bonus.
Are you mainly able to get by over there speaking English or do you know a lot of different languages?
I mainly speak english but I spent some time learning bulgarian and I can get by easily in shops and taxies. I advise that you don't consider migrating unless you first make some friends who will help you navigate the bureaucracy involved in migration. It's cheap to get registered and be allowed to stay, but you will bump into a lot of people who have no idea, because they are natives and have few expat friends. The bureaucrats generally don't speak english and it's advisable to have a translator with you when you are doing it.