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Thursday, November 2, 2017

I figured out why I have only 25 dollars in my Bitcoin wallet even though I bought 1,700 pesos worth or 34 dollars worth and I have 2 dollars worth in the wallet beforehand. It's because the Bitcoin rates for cellphone load are 25 percent lower than the rates on Bitcoin exchanges. That means I lost 25 percent of my money for each transaction. I bought 200 pesos worth once and then bought 500 pesos worth 3 times. Essentially, I lost 25 percent for each transaction, so I got 150 pesos and 375 pesos and 375 pesos and 375 pesos worth of Bitcoin, which totals 1,275 pesos worth of Bitcoin or around 24 dollars worth of Bitcoin. Combine this with the 36,000 satoshi that is already in the wallet beforehand and it makes sense that my Bitcoin total is now 25 dollars instead of the 38 dollars I expected. Oh well. After 15 years, according to what I read, 25 dollars worth of Bitcoin will be worth 9,500 dollars, which is worth 475,000 pesos, which is still worth a lot of money and will pay for all my expenses without skimping on anything for around seven years, electricity and water and internet and house taxes included.

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