During those days when Bitcoin price started to rise, I invested money in mining equipment specifically to mine Bitcoin. What other ways better than those GPU miner? Yep, I took advantage of the Newegg credit card with no interest for 12 months, and the 12 months was over today, my final payment of $250 to paid off done.
Yes, I did spent $3000 worth of GPU related mining equipment for a 12 months no interest. I split the monthly payment evenly to avoid interest and I made it. Each month $250 for 12 months. Now I got $250 a month spending power 🙂
It’s kind of cool that most credit card company allow you to buy things and pay monthly without interest for a year typically. I took advantage and I accomplished paying it, although I heard of many people couldn’t make the payment and in the end put themselves in further credit card debts. For me I did the calculation carefully, make sure I can afford it, and whatever it take to make that $250 a month, even if I have to work week end to make that $250 a month. Although during that time I was able to make more than $250 a month selling the bitcoin I mined.
Now a day, mining for are no longer profitable at this time. However people can continue mining, just make sure you can afford electricity by not selling any of your Bitcoin mined. Keep your Bitcoin safe, and maybe in the next 5 to 10 years it will rise to $1000 or more again.