Wondering if Mining Bitcoins is profitable?
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Notes: Feb 1, 2016 difficulty was 120,033,340,651. Feb 1, 2017, difficulty was 392,963,262,344. Divide 392... into 120... and you get ~ 3.2738. (1+x/100)^12 = 3.2738. Therefore, the average compounded percentage growth over that 12 month span was 10.4%.
Bitcoin price (in CAD) was $517.47 on Feb 1, 2016. Price was $1,275.04 on Feb 1, 2017. That gives an average compounded growth over that 12 month span of 7.8%.
THESE ARE NOT PREDICTIONS, they are only a representation of the market over a 12 month span. Future performance may be better, but could very possibly be significantly worse, or negative.
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