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Paypal's money market yeild is currently .06% per week. At that rate, with $1000, you make .6 dollars a week, and buy maybe a bitcoin each month and a half...t
by Unseelie 15y ago
Paypal's money market yeild is currently .06% per week.
At that rate, with $1000, you make .6 dollars a week, and buy maybe a bitcoin each month and a half...the discussion here is about earning a bitcoin a day mining, so I'm assuming you're down under a third of the mining return.
Assuming the cost of the electricitiy is 1.26 cents per kwh, and your machine is running at around 800 wats, constantly, that's 720 hours and 576 kwh, seven dollars a month...so the cost of running doesn't seem to be that high either.
Edited for bad math. May continue to do so. Please point out errors.
- maukdaddy 15y agoLong-term average stock market return is 5-8% depending on who you ask. So an index fund or balanced fund of funds would yield much better returns than bitcoin.
- rorrr 15y agoThe (S&P 500) stock market return: 1) Since 1971 (40 years) is roughly 1300%, which is 19.63% annualized (1.1963^40 = 1300). 2) Since 1950 (60 years) is roughly 7680%, which is 16.08% annualized (1.1608^60 = 7680) http://chart.finance.yahoo.com/z?s=%5eGSPC&t=my&q=l&l=on&z=l&p=s&a=v&p=s&lang=en-US®ion=US http://chart.finance.yahoo.com/z?s=%5eGSPC&t=my&q=l&...
- jeff18 15y agoThat's actually 0.06% per year. I wish it was per week... there was a time when it was over 5%!
- Unseelie 15y agomy source said a .06 7 day rate, soo...I dunno. if its just .06% per year...that's horrendous. Banks suck.