Crypto Currency is a type of online currency which does not rely on any organization to manage or uphold it and has no physical form. This currency can be gained through many ways such as investing or in this case mining. Crypto Mining is a process which simply explain uses the power of a computer to solve problems and once a problem is solved you earn cryptocurrency from it. I was intrigued by this for the longest time and recently i decided to do something about it and try mining on my own.
I put together my old hardware all in one computer case and found a software that allowed me to mine bitcoin. I started mining at a pace of 2 dollars a day and now after learning how to optimize the process i earn at a pace varying upon the price of bitcoin from 2-4 dollars a day.
L1 – Strengths and Growths: I have always been a computer hardware admirer and have dabbled in the field before by building my own computer and upgrading it and repairing it myself so i could use those strengths to add power to my mining machine and i grew as i learned more intricate details about specific hardware during the process.
L2 – Challenge and Skills: I faced many challenges in this process from hardware issues during assembling to overheating of the machine while mining and even to optimize electricity costs in order to make a profit. i faced these challenges head on and used my critical thinking skills to make decisions to solve these problems.
L6 – Global Engagement: Why i think this has a global impact is because mining has been causing a lot of issues recently with accelerated electricity usage and so one of my goals was to find a way to optimize electricity usage to try and minimize it and rather than earn a lot of crypto over a short time i earn a little over a long time which hardly changes my electrical usage and this may reduce my earnings alot however since i optimized it enough to create profit i have no downside.
L7 – Consider Ethics of Choices – I had to consider the choices i made during every step of the process of how it would affect my carbon footprint. whether it was what hardware to use, what software to use, what algorithm to use for mining, etc. all the decisions had an impact and i had to consider multiple solutions and find the best one.
In conclusion this process allowed me to explore into the world of cryptocurrency while igniting my passion for computer hardware even brighter and improving the skills i already possessed.