Today marks the beginning of my positive ROI after I sold the proceed of 29 days of mining (59 BTC with 2 Jup). My wife cannot complain anymore about that investment she does not really trust or understand.
You might have broken even in $ terms, but that misses the point of the machines, and is the fallacy that keeps people buying all these ASIC machines (and stops wives complaining
)You paid around 120BTC until it gives you that many back it's not a good investement
If you insist on thinking in $, if you hadn't bought the machines you'd now have $14,000.
There is no fallacy,
If you made a profit you made a profit. There might have been better ways of doing it but you are also missing the point.
If you sell too early then you minimized your profit, you are assuming everyone would hold until this exact date. Many would have sold before.
Also there were definitely better opportunities all over the world making more profit than buying and holding BTC but you don't mention those.
At the end of the day, Getting more than you put in is a success and congrats to everyone that has so far.
The point so many people are missing is that his profit came from the rising exchange rate, not from his investment in his Jupiter. People REALLY need to think in terms of BTC first when investing in miners and secondary the exchange rate since mining is also investing in BTC over a period of time. The goal of any miner should be to mine more BTC than they could buy at the time of purchase. Until people realize this miners will be overpriced.
There is no point that is missing,
Everyone already knows this, you can echo it from the ends of the earth but it is widely known that there might have been more lucrative opportunities out there. Not sure why you didn't buy Google stock when it was low and sell at it's peak.
Hindsight is always 20/20 and most of the people in here are hindsight investors but never take their own advice.
Profit (No matter how it was obtained) is profit.
If you had $5 before you purchased your Jupiter and now you have $10 and a Jupiter, you did well even if you COULDA WOULDA SHOULDA had $20.
So then you agree he should be glad the exchange rate increased, not that he bought a Jupiter?