Well, that depends. But I think you should always be generating partial shares and here’s why…
It depends mostly on your long-term view and your personal plan. I came in at the beginning with a plan to grow my share in the mining operation first rather than concern myself with the daily “yield” in Bitcoin.
I took this view because I saw the larger longer-term share in the operation as being more valuable than the immediate Bitcoin income and, I must confess that I never imagined that Bitcoin would go from somewhere around $200 to over $5,000 in the time that it has. Who could have seen that coming, really?
The problem with Bitcoin back when I joined was the crazy idea that it could ever be worth thousands of dollars. I knew many people that absolutely believed that it would grow to those values and I wanted to believe that too, but I simply couldn’t at first. My brain is too heavily wired for logic. I need to understand things on a simple basis.
But I started after a while to really believe that this was possible when I started to consider the real impact of something of high value being automatically restricted in its supply, by design, and then released in a structured and publicly known way.
I, as many do apparently, started to relate to this in the way my mind relates to gold. I have money going into a gold savings plan every month. I do this because I believe that gold will always, in the end, be one of those go to places with money and you’ll always be able to spend the right type of gold (if you want to know why I chose the one that I chose to do this, just ask me via email – this is about Bitcoin).
If all the gold that there ever was and all that there ever will be is held in one massive vault by one person or organization and then, that he/it releases the gold bit by bit over a fixed period its value would inevitably rise and quite possibly even at an astronomically fast rate.
Providing, of course, that everyone knew that there was only a certain amount of it and that it will all have been released by a certain date or time and that this was a matter of public record.
And that is Bitcoin and it satisfies that criteria.
Naturally, as the “end” of supply draws closer the value is likely to increase exponentially and there is no reason one can think of as to why it wouldn’t, short of someone or some institution being able to manipulate it. Given the nature of decentralized Blockchain technology that manipulation becomes harder to achieve over time so, in short, as Bitcoin and its Blockchain mature they become stronger and less exposed to the possibility of manipulation.
In practical terms we are already seeing that the only way to change Bitcoin is to split from Bitcoin (á la fork) and, effectively create something else that you hope takes over and becomes more popular and there are no signs that this is ever going to happen. We’ve now seen a fork and it turned into Bitcoin Cash and didn’t even make Bitcoin pause for breath.
My point? There is one (honest) and it does relate to mining. I think that there are clear reasons to always at least create increasing shares in the Bitclub Mining pools. If the dream of making Bitcoin mining available to the people, wherever they are, continues and Bitclub is sustained as a result then there is no reason to think that we cannot continue to add share to our Bitclub holdings.
When I first started out with Bitclub, I kept my mining pool shares at 100% re-investment for at least a year, slightly longer in fact with my mining pool 3 share. There is an option now to switch to 0% re-purchase and to take all and any Bitcoin produced from day one as, effectively, income. I think this is wrong. I think if you take it all and put nothing back in you will not do as well as you could.
There are always risks with anything we do. We can always make better decision with hindsight. I think when someone comes in and mines with Bitclub they should have an eye on the future.
We don’t know what will happen in the future with Bitclub. How could we? But I do know this. If there is a long-term Bitcoin mining future within Bitclub and you are not growing your share by re-investing in partial shares, then you will not be part of that future because you will have run your 1000 days taking everything you can from your monetary input day by day. You’ll still do OK I am sure, with that strategy, but will you do as well as you could have?
Yes, there is GPU mining and other cryptos such as Ethereum, Ethereum Classic, Z-Cash etc. but, in my mind, these are extras and bit players in the Bitcoin world. It has always been about Bitcoin in my mind and it always will. It is Bitcoin and nothing else that has given me the “fuel” to get into other cryptos and other things after all.
Feel free to add other cryptos and other crypto mining but I would do whatever I can to keep the Bitcoin mining going by always doing something to grow additional, partial shares.
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