Yes, you can do cryptocurrency mining!
But here's the secret: mine only cryptocurrencies that just got released.
So, let’s say, in a year, a hundred cryptocurrencies got released that you can mine with your very powerful computer.
Why does this make sense?
Well, when a new crypto gets released, very few people are mining it, so it doesn’t take long for you to generate coins with your PC.
Even if your PC is relatively weak compared to dedicated mining rigs, it wouldn't matter—there are still not enough installations of the software for the blockchains powering the different alternative coins that you are mining.
Now, the only drawback to this is that you have to mine coins that have their own blockchain.
If you're going to be mining Ethereum-derived coins, that's going to be a problem because you're still mining Ethereum, and there are tons of people mining the Ethereum network.
So focus on dedicated blockchains and set a limit.
So, let’s say, 10,000 or 100,000 coins, and then you stop, and then you install another software for another coin, and you keep repeating the process.
Now, how does this convert your electricity bill into cash?
Well, let’s get the unpleasant stuff out of the way first: most of the coins that you will be mining will remain worthless—that's just the nature of the beast.
You're going to have to absorb that loss; this is, after all, a gamble.
The good news is, depending on how the global cryptocurrency market evolves within the span of a year, some of the coins that you have mined will be worth something.
In fact, some of them can go up by a lot!
So if you mine enough coins, and you spread your risk far and wide through diversification, enough would increase in value by so much that you not only break even, but you actually turn a profit.
Now, the key is to keep mining the successful ones so your assets grow in value even more.
Eventually, you’ll be mining only the ones that have a good chance of continuously increasing in value.