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Health, Wealth, and Happiness

October 25, 2023

“In the long run, it’s not just how much money you make that will determine your future prosperity. It’s how much of that money you put to work by saving it and investing it.”

- Peter Lynch

Howdy, investors!

We're hearing from many crypto enthusiasts that, while they want to get into mining, it's just too much investment without the return.

But is this true? We don't think so. With the right rig, you can still generate wealth with bitcoin mining in 2023.

That's why we're updating our reference guide to Crypto Mining on a Budget: Best Used Mining Rigs. You'll learn which rigs you can pick up on a budget to become a profitable miner sooner.

Additionally, we could be seeing a ramping up of bitcoin prices ahead of an expected spot bitcoin ETF approval, with the leading crypto topping $35,000 for the first time since May 2022.

The upcoming bitcoin halving event still looms over the horizon, and we share analyses on why, while this is an important event, the halving isn't a reason to put on analytical blinders.

And finally, Chainalysis has released its fourth Geography of Cryptocurrency report, highlighting the global adoption patterns in crypto. The results are eye-opening and well worth a read.

Read on to explore more!

Crypto Mining on a Budget: Best Used Mining Rigs

by Daniel Joel

Crypto mining rigs aren’t ordinary machines. They use a combination of specialty hardware and Graphical Processing Units (GPUs) to support the complex calculations required to verify transactions on a Proof of Work (PoW) blockchain. Accordingly, the parts for these machines are in high demand in the crypto community.

But there is an option for enthusiasts who like a little DIY while keeping their budget low. That option is used crypto mining rigs.

In this article, we're covering the best (used) crypto mining rigs, the different types of rigs available to miners, and what you should look for in a used rig.

Read on to discover our editorial picks on used crypto mining rigs >>

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Must Read

Today's most important stories for crypto investors.

Bitcoin Could Keep Rising, and Crypto ETF Hopes Aren’t the Only Reason (Barron's)

Investor takeaway:Bitcoin’s price (briefly) crept past $35,000 on Tuesday, a peak not seen since May 2022. Obviously, analysts are calling for a positive outlook for bitcoin, driven by an anticipation of a (potential) bitcoin ETF approved by the SEC.

You may have noticed the parentheticals. While the good news is still on the horizon, we are confident it is there. The bullish bitcoin market and the wide expectation on an SEC breakthrough have us feeling good about the future.

Why The 2024 Bitcoin Halving May Be Different Than In The Past (Coinmonks)

Investor takeaway: Analysts are reevaluating the impact of bitcoin halving, anticipating potential deviations in its historical bullish market influence.

This conversation is complex, and we must consider that there are more factors to bitcoin pricing than halving. There's a new trend correlating bitcoin with gold due to its potential role as a digital store of wealth, which resonates with those worried about shifting market prices and inflation.

However, the halving event will be a big deal, but we need to consider it as just one of many market factors. If you believe bitcoin is a hedge similar to gold, then look at the halving event, which significantly decreases the incoming supply of bitcoin, as a bullish move. Investors and stakeholders are encouraged to embrace adaptation, informed decision-making, and comprehensive strategies.

The Chainalysis 2023 Geography of Cryptocurrency Report (Chainalysis)

Investor takeaway: The fourth annual Chainalysis Global Crypto Adoption Index has been unveiled to measure grassroots crypto adoption across countries. This index emphasizes countries where ordinary people invest a significant share of their wealth into cryptocurrency.

This report is a must-read if you're interested in crypto as a currency. The index offers a tool for more strategic and informed investment decision-making based on real-world cryptocurrency adoption patterns. Investors interested in diversifying their portfolios geographically might be interested in how the world views crypto from the ground up. This can mean aligning investments with long-term adoption trends and mitigating risks associated with market volatility and regulatory uncertainties.

Best Cryptocurrencies to Mine with a PC in 2024

There's a whole world of mining beyond bitcoin.

An Open Letter to Rep. Patrick McHenry

With a copy-and-paste letter for your own state rep.

Best Bitcoin and Cryptocurrency Exchanges for 2024

See our updated picks for the top exchanges, as rated by our editors.

Ethereum Staking Yields: How to Maximize Your ETH Returns

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Crypto Hodlers Have Nothing to Fear from Friday the 13th

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The Quick Guide for Crypto Investors

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Best Staking Rates

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Click here to see our current staking yields, updated weekly.

Keep it cool.

(Thanks to @Mining_Memes)

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