Bitcoin – More Than A Digital Crop

Bitcoin was never met to be what it has become: A digital crop.

The crop is sowed, in the way of word of mouth, social media and other channels, then nurtured by farmers (miners), who are basically nerds that setup and manage computer farms of any size, in countless locations around the globe.

When the crop is ripe, it’s harvested and sold (CoinBase), or traded (GDAX).

Like other crops, Bitcoin can also be used as an off grid currency, keeping personal transactions private and more importantly, cost effective since banks and merchants are kept out of deals.

Because it’s digital, the result of computations across a blockchain that are indexed in a public ledger, Bitcoin is a smart investment when compared to actual crops because it can’t rot, burn or dry up.

Farming Bitcoin

Anyone can become a Bitcoin farmer, or miner given the right circumstances. Farming basically requires a blazing fast computer rig connected to the internet, at home, the office or, an actual mining farm like Genesis Mining, for example.

You can also use your existing computer and a USB mining stick to mine Bitcoins on a small scale, but you’ll end up losing money in the long run trying to farm Bitcoins this way.

With Bitcoin reaching USD$15,000.00, few will argue the digital currency has been a phenomenally rewarding investment to date. That being said, it’s become obvious that the coin’s popularity is fueling it’s exponential rise in value, likewise for transactions volume

With this in mind, which is best? Investing in the digital crop, or farming it?

I choose to do both. You should too. :)