Cryptocurrency seems to be all you ever hear about these days. In the news, on social media, and even within your own social circles, it looks like everybody has something to say about crypto. But, what are the unmentioned costs of partaking in the monetary revolution that is cryptocurrency?
How Cryptocurrency Mining Affects Your PC
Extremely popular cryptos like Bitcoin or Dogecoin start their lifecycle very simply - by being mined. Not the traditional mining like by a prospector, but rather digital mining by computers around the world. Essentially, crypto mining works by having people volunteer their computers to log and track the Blockchain within which all crypto exists. However, this process can be very taxing on computer hardware, so is it worth it?
Of Course, if Done Correctly
The very fact that people continue to mine for various cryptocurrencies is a testament to the profitability of the act itself. Investors worldwide continue to see value in mining this magical money despite the wear and tear they incur on their computers. The catch, however, is that these organizations have access to resources most individuals do not. Notably, these organizations can create “computer farms” that consist of hundreds or even thousands of specialized computers fitted with graphics processing units (GPUs) that up the stamina of their computers’ mining prowess.
These GPUs take what would be terminal heat spikes occurring inside the PCs and disperse the load more evenly, allowing the computers being used for crypto mining to be more durable and work longer. To personally set your computer up like these mining farms is a pricey endeavor. Most regular PC enthusiasts don’t have the amount of fiat money it takes to mine digital coins. So, is crypto mining worth it for the average Joe?
Unfortunately, Probably Not
Countless articles out there tell the same sad story of personal computer processing units (CPUs) being destroyed because crypto-hungry miners didn’t outfit their machines with the necessary equipment. And with crypto mining rigs often costing thousands of dollars, who can blame them? Most people can’t afford to go ten grand into the red just to start trying to make money. The worst part is that even with these mining rigs, computer health is still not guaranteed. Imagine sinking thousands of dollars into crypto mining gear, and then your hardware still gets fried from a rogue heat spike or drop.
Now let’s say you invest in the proper gear, nothing goes wrong, and you successfully mine a Bitcoin. For a solo miner with even the best hardware behind them, this takes an average of five years to accomplish. Now, this one Bitcoin could be worth tens of thousands of dollars, or it could be worthless. Just like any investment involving money and time, you never really know what the future holds. So, in conclusion, the average person could mine for cryptocurrency, but it comes with a lot of financial risks that most people aren’t well suited to handle on their own.
A Safer Way to Use Your Computer to Earn Extra Money
If cryptocurrency mining piques your interest, then perhaps other forms of turning your laptop into cash will as well. Instead of sinking thousands into PC components to only still run a risk of hardware failure, why not put money into other outlets that guarantee an exciting experience while also giving you a chance to earn big?
Of course, we’re talking about online gambling like at https://goodluckmate.com/casinos/crypto. The best part is, several of these online casinos allow you to gamble with cryptocurrencies. So even if you decide not to mine for crypto yourself, you can always earn some this way. No mining rigs are necessary!
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