Hi, is there a reason for seeing $290 as the low?
I'm no bitcoin expert but I have downloaded the bitcoin price history and it seemed to fly through $290 on the way up and hasn't touched it yet on the way down. Because bitcoin had such a rapid up and down the chart doesn't show any obvious support or resistance points.
Let's say bitcoin ends the year at $200, for example's sake. Will this change your plans for 2015? Surely there's going to be a point where you have to say "we're going to have to rethink this".
If you're only managing to mine 4 bitcoins in a month then unless your electricity, rent and equipment costs are less than about $1300 a month you're losing money.
In your book you said that you should've walked away from the adult business earlier and you lost more money than you needed to. If I was trading bitcoin I would be short now and probably would've opened my short position back in April. There doesn't seem to be much to be bullish about and I have to wonder where the demand is at the moment.
re the $290, no no other reason than my own feeling.
Im personally confident we will see a $1,000 steady bitcoin in the coming months.
re mining, its a changeable thing, our entire business model is and going into 2015 everything is designed to be fluid.
Re our current mining, we run of wind power so our overheads are very low, we are about to scale up our mining in a new location too