Never mind I found it. It amazes me what people are willing to pay to enter the mining game. At this rate I wouldn't see and ROI for 2 1/2 years.
40% per year is actually a pretty amazing ROI.
Not in the world of Bitcoin sir. For $33,000 (250 BTC x $133) I can buy a foreclosed home, renovate it, put it on the market and within 4 months double your original investment and that is still taking a hefty profit for myself.
*and that includes taking a hefty profit for myself.
I think you are looking for the "Slumlord forums" next door...maybe they are more interested in the amazing opportunities in the US housing market.
Mining stocks benefit from three sources of appreciation....the stock value is held in units of bitcoin which is increasing in value (in the long term), the stock price is appreciating every time Friedcat does something even more brilliant, and you get paid in dividends every week.
If you just looked at it alone from the dividend aspect we are making as someone mentioned >40% income per year.
(In a currency that is also appreciating.)
First of all you can go fuck yourself for referring to me as a slum lord. I take pride and care into what I do and take a house that has been destroyed by previous owners who defaulted on their loans for whatever reason. I do not judge them nor do I pass judgement on anyone I don't know personally.
As for it being a lot of work it is a great deal of work but it is also something I enjoy and take pride in. It's a great feeling taking a home that most people are afraid to step foot in and renovating it into something beautiful and desirable again.
The 40% ROI is great in many different aspects of investing but in Bitcoin it holds a serious risk. Their are so many factors in Bitcoin such as the economy of Bitcoin, government interference, general adoption etc. that for me 2 1/2 years is to long to "wait and see". If I am going to invest in a BTC opportunity I would like to see a 6-8 month turn around. This limits the risk substantially and any investor will tell you risking an investment in something as volatile as Bitcoin get your money in and out as quickly as possible and use our profits to go long.
Two questions then...
1. What assets have a better ROI than AM, or meet your criteria
2. If AM is not good enough, and probably nothing else is, why are you here?
I agree if you are going long then AM shares are 100% worth it. I just can't see a position with that length of time for that much risk with the volatility of Bitcoin.
I love Bitcoin, I am a huge supporter. I am big into Casascius Coins, it is a brilliant idea. I am all for growing the economy of Bitcoin. I try to buy and spend my bitcoin not just hoard them. I also have many casascius coin's that I am holding onto for a long position. All I am saying here is 250BTC ($32,500) with a 2 1/2 year turn around on recouping your original investment seems a bit too much and too long for me.
This is my personal opinion. Opinions are like assholes. Everyone has one and they all stink. Like I said if it was a 6-8 month turn around I would be all for it.
