Mindblown: a blog about philosophy.
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Allocating Trading Capital
The amount of money that you can commit to trading crypto should be determined by what is known as discretionary income, which is what is left after you’ve paid all your regular living expenses and taxes. If your intention is to grow your discretionary income then the general advice is invest the majority in low risk…
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Earning from Trading
What you’ll learn Allocating trading capital The importance of time preference Difference types of crypto trading strategy Earning crypto requires a trade-off between risk, effort and expectation. Trading crypto has the potential for significant returns but it requires a significant amount of both risk and effort. Many people will make the mistake of simply opening…
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Should you mine cryptocurrency?
If you’re a tech geek who loves getting hands-on and learning more about how things work, cryptocurrency mining can be rewarding. Setting up your own bitcoin mining rig will teach you more about crypto than hundreds of hours of tutorials and textbooks could. From a knowledge perspective, then, mining could be worth a look. If…
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Choosing the best cryptocurrency to mine
Although we’ve focused on Bitcoin so far, there are in fact hundreds of cryptocurrencies that use a Proof of Work consensus mechanism and are thus mineable. Comparison sites such as WhatToMine allow you to determine the most profitable coin to use based on your hashpower, ASIC type, and other factors such as network difficulty and market price.…
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Using A Mining Hosting Service
A better approach might be to use a service that hosts a mining rig for you. You pay for the machine and the electricity but everything else is taken care of. You can see your ROI via a dashboard and even work out a breakeven point. Here is an example from Compass Mining. Summarising the…
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How to mine bitcoin
Solo mining – i.e. attempting to find new Bitcoin blocks using GPUs or ASICs that you control – is no longer profitable. Even with multiple ASICs linked together, you could toil away for weeks, months or longer and fail to discover a new block. In the meantime, you would be running up an expensive electricity…
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How bitcoin mining works
Bitcoin mining is the process that creates new bitcoin, adding them to the total supply, which has a fixed limit of 21 million, expected to be reached in the year 2140. The first block – aka Genesis block – was mined on January, 3rd 2009, and since then at approximately 10 minute intervals, a new…
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Earning from mining crypto
What you’ll learn How mining works at a high level DIY mining from home is no longer cost effective What a mining pool is & how to choose one More profitable coins to mine that Bitcoin Mining is the process by which cryptocurrencies like Bitcoin confirm new transactions and add them to the existing historical…
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Things to consider with DEFI lending & borrowing
DEFI has opened up a whole new world of financial services that are much easier to access, more transparent and give the user greater control. But against these benefits, you have to weigh the risks of transacting in a totally unregulated space with immature technology and business models that aren’t fully stress tested. So before…
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Pros & Cons of DEFI borrowing & lending
Advantages Cutting out Intermediaries One of the biggest criticisms of traditional finance is the number of intermediaries that add to the cost of borrowing or lending. By functioning in a Peer-to-Peer form more value can be shared with the user and the DAO that sits behind it. Removing trust also means that your personal data…
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