Welcome 2018: Redemption of my $30K investment in Cryptocurrency after 4 years!
I started LTC mining back in March in 2013. During my mining history I have mined around 2000 LTC, 1M DOGE, 5M BCN, 500 DASH, 5 BTC and numerous other coins. I have also bought around 20 BTC to buy LTC and traded for 100s of hours with end result of $0 earning.
Here is my story of redemption:
At peak I have mined with 10 GPUs and 4 powerful CPUs. Later I mined BTC with two Antminer S3. I still mine ETH with a GPU and BCN with two processors with 76 cores.
I was addicted to day-trading cryptocurrency specially LTC/XPM/PPC etc. in btc-e. After BTC hit 1200 in December, 2013 along with LTC $48, there was a long crypto-winter when LTC fell to $1.1. On that time, I had 1800 LTC. My total investment was fluctuating between $2.5K to $4K while I have already invested $20K. I was so frustrated and depressed that I was looking for redemption.
On that time BTC and LTC futures were very popular in Chinese Exchange OKcoin. One could take 10-20X leverage for margin trading. It is very risky trading since LTC had very fluctuating price. In one night due to price upheaval, I lost 1800 LTC or $20K investment.
However, I started with different approach I bought two Antminer S3, I used to mine BTC for a week and then sell. Unfortunately, I sold 5 BTC equivalent of one year mining on average $300/BTC.
Finally, I was looking for redemption I found Steemit. Though I joined Steemit back in August 2016, but I did not invest any money until June 2017. Eventually with my family members (multiple accounts) I bought and earned almost 9700 STEEM which at current value of STEEM at $3.25, total value is around $31.5K.
I roughly invested around $30K in cryptos from 2013. Today, hypothetically I got back the amount that I invested since 2013. Thanks to Steemit, this is the best beginning of a year in my cryptocurrency journey.
Since I saw LTC rose from $0.5 to $350 during my mining and trading years, I have become a strong HODLers of STEEM. I have powered up and delegated my STEEM not to take any risk in trading.
I strongly believe from experience and research in STEEM blockchain, STEEM still can grow 10-30x in coming years.
Happy new year (2018) to all my Steemitan friends.
Image sources: All images are open sourced (e.g. Pixabay) with Creative common license
Thanks for reading.
@riseofth
Cryptominer since 2013, occasional trader and tech blogger
Happy new year! Can you help me make money with my s3? what should I mine with it?
Sorry, can you clarify s3? what is it-- phone or Antiminer (BTC ASIC miner)?
a BTC ASIC antminer
Antminer S9: https://shop.bitmain.com/antminer_s9_asic_bitcoin_miner.htm?flag=specifications is the most current product. You can order directly on their site. S3 is not profitable unless you have free power. I sold my two S3 one year back only for $50.
Is there no way to convert them to mine other asic coins or forked btc?
People have told me it is possible to mine all asic coins with them is this true?
Yes, any coin with sha256 algorithm such as BTC or BCH are mineable. However, you have to calculate after power usage it is profitable or not. https://www.coinwarz.com/calculators/bitcoincash-mining-calculator/?h=460.00&p=400.00&pc=0.10&pf=0.00&d=284346356418.23000000&r=12.50000000&er=0.17454000&btcer=16114.49000000&hc=0.00
Good. I wish you more success.
Thanks :)
Happy new year, oh wow , what a long journey you have so far in cryptocurrency.. I am hoping to invest in some steem in the near future too.
Thanks.. wish you good luck too:)
Good job! Thanks to @theia7 you have planted 0.13 tree to save Abongphen Highland Forest in Cameroon. Help me to plant 1,000,000 trees and share my Steem Power to the others. Selfvoting is prohibited, but that should be the reason to spread the world to protect our precious environment. Check out profile of our conservation association @kedjom-keku and the founder/coordinator @martin.mikes to get more information about our conservation program. My current SP is 14468.55. Help me to plant more trees with your delegated SP.
Thanks a lot,
your @treeplanter
www.kedjom-keku.com
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