I am invested in Genesis Mining and Steem. Genesis Mining provides me with bitcoin to either reinvest and compound my earnings in Genesis Mining contracts or buy more Steem Power.
Before I discovered Steem all my bitcoin earnings would go to more Genesis Mining contracts. My strategy was so accumulate bitcoin in my wallet and wait for bitcoin price to go up. When bitcoin price goes up the mining prices goes down in bitcoin prices. The reason is that the mining prices are based in Dollars at GM. So when the bitcoin price rises the mining contracts are cheap. This is when I buy my contracts in bitcoin.
If you use Dollars to buy contracts it is better to buy when bitcoin price goes down.
In the last 3 weeks since joining Steem, I am using my bitcoin to buy Steem Power and Genesis Mining contracts. So my bitcoin income is spilt between Steem Power and Genesis Mining purchases.
Steem Power purchases are better when the Steem price goes down. I have noticed lately that when Bitcoin price falls, Steem price falls much more in percentage. So now I have a new strategy to invest my bitcoin.
My New Investment Strategy
I am buying Steem Power while the price of Steem is lower and I will buy more bitcoin mining contracts when the price of Bitcoin rises again. If I want to exchange my Rands or Dollars to bitcoin, I will use it to buy mining contracts.
This makes it easy for me to decide in what to invest by earned bitcoin. Genesis Mining pays my mining earnings to my bitcoin wallet every day. So from my wallet I can either buy more Steem Power or mining contracts.
The Steem price is way down at the moment and might fall even more with bitcoin price in these uncertain times before Segwit. I am glad I making regular purchases of Steem Power. This way I am averaging down the price I pay for Steem Power. I started buying 3 weeks ago at about $1.80. Today it is about $1.00! Bargain time.
The price of the smallest bitcoin mining contract is up from 0.011 to 0.015 in the last 3 weeks.
So I am off to buy more Steem Power now. :)
Please let me know your investment strategy in comments below.
Give us an Upvote if you think this info was helpful. It will help my online business a lot.
Thank you. :)
PS: Remember don't upvote this post if older than 7 days, you are wasting your voting power!
Regards
Colin Brazendale
Email: cwb197@gmail.com
Facebook: https://www.facebook.com/colinbrazendalesinternet/
Youtube: https://www.youtube.com/user/czb1972/
More information:
I am a successful bitcoin cloud miner and affiliate of Genesis Mining. I have been mining for the last 12 months. I am in profit and doubled my bitcoin in this time. So I highly recommend Genesis Mining.
Join Genesis Mining here: https://www.genesis-mining.com/a/339950
Here is the promo code to get 3% discount: QqNvn3