well said. Very often people looking at mining business is a short term, 2 weeks business.
It took me 7 months to break even when BTC at 25 dollar. Then price jump up and my asset increase by 5 times, it took almost 1 year to get to this point right now.
Guys, consider this is a long term investment and effort. If you want to get rich quick, go back to day trade instead of mining.
You really don't get it. It is how many bitcoins your miner will ever make against how many bitcoins you could have bought instead of the miner. Btc value in dollars is irrelevant.
As someone who clearly understands that one is likely to end up with more BTC by simply purchasing them than mining them in the end, let me explain why I choose to mine. It's called hedging your bets.
Effectively, I've sold my BTC for $845/each when I purchased the Neptunes. If BTC price collapses, I can ask for a refund in US dollars (Remember, KnC never receives any BTC through Bitpay and will always refund in USD). In this scenario, I will not lose any USD. The highest risk in this example is that KnC refuses to refund.
In the event that BTC price continues to increase (my hope), I will likely mine less BTC than I spent, but will still end up with more USD at a lower risk than just holding BTC.
