Thursday Mining Update 2

April 25, 2019 // by Jesse Crypto Backer // , , // No comments

Update: Unfortunately, I don't have an internet connection at my house in the country until my new provider comes to install it. I've resorted to using a tether through my cell phone for the time being. Bandwidth is low, latency is high and I have a data cap. So, until then, the blog updates will be sparingly and no YouTube video updates.

Stocks markets have been doing well in some sectors. No spotlight on Cannabis stocks lately, I think I may have to buy in more to lower my average cost and wait for another run up.

Bitcoin saw a nice increase in price to a 5 month high, only holding out for an hour before falling. I personally think this is a correction and it will continue to climb past $6,000.

As seen in the picture, a  mere 24 of mining on my system has gained another $1.15 of bitcoin, which I still plan to hold in my saving account.

I use a AMD powered system, including a Ryzen 5 2600 and RX570 4GB to mine cryptocurrencies.

Thursday Mining update

April 18, 2019 // by Jesse Crypto Backer // , , // 1 comment

Still having a little fun mining cryptocurrencies with Nicehash. The speed for the CPU is pretty normal, but not many people have gotten a RX570 to mine Ethereum at this speed, let alone dual mine Keccak. While the power draw is enormous, this was only for approximately 5 minutes at these rates. Another plus, for me right now, is how this actually helps heat the house. The furnace actually runs less often and I don't have to use any space heaters.

Here's a link to the different algorithms - in case you're curious. I can also make a guide on how to easily mine cryptocurrencies.

First Payout from Mining

April 14, 2019 // by Jesse Crypto Backer // , , // No comments

Took about a total of 72 hours to earn or "mine" my first payout of 2019 on the Nicehash service. At current bitcoin prices, I personally believe mining for profit has returned.

This balance will be going into a Bitcoin "savings" account where I will earn a daily compounded interest on the balance.

Check out Nicehash Here - Keep in mind you'll need recent computer hardware to mine.

Check out FreeBitcoin Here - This site is also a way to gain Bitcoin every hour, and a place to gamble it. I personally just use for the savings feature.

If Crypto does fail to takeover fiat currencies, at least it was an enjoyable experience for me. However, if it does, I will be steps ahead! Now back to stock trading tomorrow!

What are your thoughts on crypto? Are you saving?

Overall markets and conditions

April 12, 2019 // by Jesse Crypto Backer // , , , // No comments

It's still impossible to tell the future. I thought AMD was going to keep gaining until $30 and then level off again early this week. I lost $46 total on these options, but everything is a learning experience. I'm fairly certain if I had allocated more time to research charts and news I would've done a different strategy.

Regarding cryptocurrencies, the recent spike in prices has sparked interest in mining again. Coincidentally, I restarted mining one week prior to the price hike. I'm only planning on holding my position or coins, I'm actually not mining for a profit. I truly believe these currencies will take over in the years to come. I'm mining with my main computer, and through Electroneum's cloud mining.

As you can see, I have received a few mobile miner payouts. My current balance equals about $5.5 USD. You can join me and the community here: Download the Electroneum App

Enter this QR code:

That's it! Start mining!

Great Performance for Low Cost

April 10, 2019 // by Jesse Crypto Backer // , , // No comments

In this video I show the performance of this under valued card. This also allowed my to sell my still overpriced Nvidia GTX 1070 card I got with my new computer. It makes just under $0.05 less per day mining cryptocurrencies and I didn't lose much for framerates in my games either.

I bought the RX570 for $90 and sold my GTX 1070 for $200. Not a bad trade off while I save for the upcoming Ryzen CPUs and Navi GPUs.

Acorns debit card and spend account - all the perks!

April 03, 2019 // by Jesse Crypto Backer // 1 comment

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AMD stock option results

April 03, 2019 // by Jesse Crypto Backer // , , // No comments

Monday, Tuesday and Wednesday profits, ladies and gentlemen. Very happy with my call options and profits. I could have made a little more today, but decide to play safe. I do believe however, that AMD will continue to climb based on the good news of profitability. 

Bitcoin has surged in price the passed two days as well, almost reaching $5,500 today. I didn't expect it to last though. It has already come down in price from today's high point. Funniest part, I think, is that recently started mining again (see post) just last week.

Acorns debit card has arrived!

April 02, 2019 // by Jesse Crypto Backer // , , // No comments

Isn't it a beautiful debit card? Acorns green with a minimalist approach. The only thing that stands out more is the actual weight of the card since it is made with the metal Tungsten. On the back is the card number, expiration, CVV  and your signature. This card and spend account will automatically find "found money" for your core investment account, while keeping track of spending habits. All this of course doesn't come free, unfortunately, these services will cost $3 a month. However, there are no overdraft fee or ATM fees (ATM fees get reimbursements.)

Another great day in the markets! Sold my call debit spread at $105, which was purchase last Thursday for $55. My $29 call option (04/26 expire) recovered and surpassed the initial $95 purchase. I tried to sell around peak, but caught the tail end. It is now sitting at $96, still up a dollar. However, AMD stock did jump up $0.46 in after-hours trading! I think I'll sell right away in the morning and take profit!

Remember, my initial investment with Robinhood was only $300! Now that's a Starting Small Investment. Please remember to follow or subscribe! Give a like and sharing is caring!

Market for the Bulls

April 01, 2019 // by Jesse Crypto Backer // , , // No comments

Was a great Monday for the market. My call options spread did very well today, gaining 111% or $50.00. I purchase at $0.11 ($11 dollars, 5 contracts equals $55.) The market value is now $0.19 per contract (5 contracts) or $95. That's a $40 profit today on this alone. I currently do not own any actual stocks.

My single contract for a call option rebounded quite a bit but not enough. I unfortunately got too optimistic last week and bought a $29 call at $0.95, and it instantly dropped to $0.57. Today it got back to $0.76. Basically that means I spent 95 dollars, it dropped to a value of 57 dollars, and today it closed at 76 dollars. I am still down 19 dollars overall.

My acorns gained another $2.56 today. Overall up $103.29 even after I unfortunately had to take out that $5,000.