Nicehash & The Worry of Bitcoin’s Value

Photo by Pierre Borthiry on Unsplash

Seems to have become more and more of a broken record at this point.

“Oh no! Elon tweeted something! Ahhh! It makes bitcoin bad! MUST. SELL”

“Oh boy! Elon tweeted something! Yes! Bitcoin to the moon! MUST. HODL.”

Then there’s the whole dogecoin thing. We’ll leave that stone alone for now.

For now, I’m merely going to let my custom Windows build and Dell gaming laptop slowly dig away for those precious, or not precious, bits of currency. When you consider that some platforms earn you ridiculous amounts of interest that even fiat banks can barely match, it’s worth letting your mining computers work away at building up your trickling amount of passive income.

At a certain amount, your slowly-accumulating stash of bitcoin will earn enough interest at a fast enough rate that, at a certain threshold, you will earn interest in bitcoin faster than your rigs can mine bitcoin.

In addition, mining software like NiceHash is almost better at utilizing your graphics cards in an optimal fashion. Lamen’s terms, mining bitcoin on your graphics card is healthier for it than gaming. Plus you earn a steady stream of trickling income, even when you factor in the electricity use. Go figure.

For these reasons, I’m going to “hodl” my bitcoin, swap coins for the highest interest possible then convert my crypto interest to fiat when it gets nice and large.