As you have probably noticed, the last post I did was in December 2017. Bitcoin price soared to new heights (around USD19k). It was a dream come true for bitcoin holders and crypto enthusiast.
The dream came crashing down in January 2018. The market bled. Bitcoin dropped to it's cost price. While miners struggle to maintain the electricity bill, the price dropped some more. Forcing miners to shut down their machines.
Early 2018 marked the year I made some very costly mistakes. The euphoria of crypto prices led me to buy some mining equipments. Around RM100k worth of equipments, consisting of several ASICs (S9, Baikal B...) and GPU rigs. Early calculation indicated that I can get around RM4k per equipment, monthly. Unfortunately, the prices didn't stay up. And it didn't went down slowly either. Within days, bitcoin price dropped from USD18k to 10k. And later it would drop to 6~7k. When it climbed a bit, the sane reaction was to sell the coins to cover for my bills. I didn't. When the coin prices came tumbling down, I was in denial and refused to sell my coins, just in case the price shot back up.
They didn't.
By mid 2018, all of the coins I had mined (and some that I had been HODLing) had to be sold to pay off the electricity bills and office space rental. To add salt to the wound, I still had to pay monthly repayment for the loans I took to buy the mining equipment.
Now I have no coins, shut down my machines, and loans to be repaid.
What the hell, man.
In 2015, the person who introduced me bitcoin (and ethereum), invited me to join BitClub Network. A crowd funded mining company with network marketing as it's mode of operation. As a gesture of friendship, I bought an account worth of RM8k under him. Turns out my little investment saved my day as it had generated more than 2 bitcoins after 1000 days.
While he sold bitcoin mining contracts to people, I (with my big-headed ego) did my own bitcoin mining. My friend is now well off with the money he made with BitClub Network, while I am struggling to make ends meet.
Now? Trying to get back on my feet, I am now focusing on selling BitClub Network's product, which is bitcoin mining contract for 1000 days. Hopefully everything works out for the best.
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