Re: The Bullish Media Center (The 1 stop Bullish BTC news source)
To be honest with yourself, I hope that you have some fairly detailed records of those costs in order that you can attribute all of that to your costs per BTC.
Even though I did not get into mining, I had some financial costs and money transferring costs and some other costs that I wrote into my total BTC costs in order to provide myself an accurate rendition of my costs per BTC.
By the way, a few months ago, someone contacted me through local bitcoins, and I agreed to transfer BTC to his account after I received various payments through venmo and then after those venmo payments were transferred to my bank. Anyhow, I thought that I adequately protected myself and I transferred him bitcoin, and then two days later Venmo reversed most (not all) of the payments... I went back and forth with venmo and the guy and in the end, I was in a predictament that ended up being a loss for me.. to send bitcoins and not receive payments... the fucker... anyhow... lesson learned.... I hope.. but those costs (and losses) went into my total costs per bitcoin.. and raised my average cost per BTC by a few dollars.
Even though I did not get into mining, I had some financial costs and money transferring costs and some other costs that I wrote into my total BTC costs in order to provide myself an accurate rendition of my costs per BTC.
By the way, a few months ago, someone contacted me through local bitcoins, and I agreed to transfer BTC to his account after I received various payments through venmo and then after those venmo payments were transferred to my bank. Anyhow, I thought that I adequately protected myself and I transferred him bitcoin, and then two days later Venmo reversed most (not all) of the payments... I went back and forth with venmo and the guy and in the end, I was in a predictament that ended up being a loss for me.. to send bitcoins and not receive payments... the fucker... anyhow... lesson learned.... I hope.. but those costs (and losses) went into my total costs per bitcoin.. and raised my average cost per BTC by a few dollars.
I have very detailed records because my rigs were purchased and owned by my telecommunications training business. I had it set up by my lawyer to do any kind of business I wanted to under the company name. I have made sure everything is in order in case I was ever audited.
I would say I've done quite well for myself with the mining rigs. Especially, when I first got involved with mining in 2015. I paid approximately $5,500 for 15 x SP20's ($366.66 each). Can you believe I sold each one of them at an average of approximately $370 each before eBay and PayPal fees? This means I came very close to getting back what I paid for them. Same thing with the Bitmain S5's. I did quite well with the S4's as well when I got $620 on average for them. I paid approximately $940 each for them with shipping. So, not so bad for them.
The following is a screen shot to give an example of what I sold Spondoolies SP20 for back in August last year before the S7 was up for sell in September on bitmaintech.com:
Sorry that mishap occurred with Venmo. Sounds like a lot of stress and headache was the order of the day to get all of that panned out. Geez.
Thanks for sharing that. I always try to learn from other peoples mistakes.