I won a club match on the nene at oundle a few years ago,using bread put through a blender.
Hook bait was casters and liquidised bread and casters and hemp in the feeder.Result was 15lbs of bream and ?60 pools money in my pocket.The same tactic won me second place in a winter league match with roach as my main weight.I lost a pound plus roach to a pike as i was about to net it....cheeky monkey!!!
A workmate of mine,reccomends saving your bread scraps(white bread),drying them in the airing cuboard and then putting them through the blender.He then freezes the crumb in equal sized portions and uses whatever he needs as groundbait etc....
A little tip i can give you is to add a capfull of vanilla essence to your water,before mixing the groundbait.One other tip when mixing the dry white crumb is to trickle water into it and mix very briskly....white bread crumb gets very sticky and lumpy i find.Bread straight from the blender,needs no water i find to bind it etc...... it`s moist enough.