Indian Bitcoin Miners

[kathir]

hi i am planning to earn some soney by mining bitcoins.can some one suggest me wheather it will be profitable or not.
and is there any one from india mining bitcoins and can you guys plz guide me
thanks
and i am currently mining a 200MH/s which i know is very low

[Luno]

Option 1:
If you have an ATI graphics card (used $85-$150), you can setup a computer to mine. Some places in India have "free" electricity. You recoup your investment, but you will only make a little money.

Option 2:
You buy dedicated ASIC based mining hardware, when it becomes available (entry $400-$1200). But the payback time is longer and you may wait 6 months or a year before you got your original investment back.
If you are planning to live off of it it's more like $30.000-$60.000 you have to invest in hardware, and there is some risk that the price of Bitcoin and mining difficulty will make your investment unprofitable.

Option 3:
Make your business or make a business accepting Bitcoin. Little risk, little investment, profit from day one.

mining heaven India style:

[kathir]

thanks for the reply.
i thought i would be cheap

[spndr7]

Some places in India have "free" electricity."

What do you mean ?

[Luno]

Some places in India have "free" electricity."

What do you mean ?

In poor neighbourhoods people just hook up an extension cord to the power cables that run from street lamp to street lamp.

[Pinwheel]

with BFL ASIC getting real. other option for mining going to extinction. In India cost of electricity different in different states and free for farmers in many states. Also electricity is heavily subsidized. So it can quite profitable.

[Benson Samuel]

[/quote]

In poor neighbourhoods people just hook up an extension cord to the power cables that run from street lamp to street lamp.
[/quote]

Read a recent report where the BESCOM is clamping down on illegal connections.

But electricity is dirt cheap in India. It has potential to be an outsourcing destination for Electricity for Mining.

[18dew]

with BFL ASIC getting real. other option for mining going to extinction. In India cost of electricity different in different states and free for farmers in many states. Also electricity is heavily subsidized. So it can quite profitable.

BFL heats up a lot poor farmer would require HVAC System.

[vagabond911]

This page seems to have some Info.



https://www.facebook.com/BitcoinIndia

[grimreaper]

mining heaven India style:
http://1.bp.blogspot.com/-Wdm_lyaf5XQ/UBiioQwzsCI/AAAAAAAAC20/unDPISM_f-A/s640/dangerous+power+lines.jpg

@Luno --- Nice Pic, and yes you do get to see a lot of these in India 

BTW about GPU mining it will be difficult to earn soon with those ASIC monsters being flooded to market soon. I wish I was in US could have bought a BFL Jalapeno
But if I am correct they haven't even shipped one of those

[Benson Samuel]

That is correct, none shipped as yet.

I have received a bunch of mails from people who either wish to buy or manufacture ASICS in India.

[wisard]

Does anyone know what the custom fees will be for importing ASICs to India?
Avalon batch #3 pre-ordering has just opened.

[Benson Samuel]

Where are the batch 3 orders opened? I do believe that it was a teaser to show the prices and then remove.

They seem to be planning to open the 3rd batch on Friday.

(price is about 88BTC-115BTC, 1BTC= 360RMB,SO the batch3# avalon price is 31680-41400 RMB (5000-6666 USD) .)

[wisard]

Yes - it was a teaser.
I thought it was opened because the translated post in Chinese said it would be Friday (and the Chinese post was published before this last Friday.)

From what I've heard, pre-ordering should open within 48 hours however...

Anyways, I've actually partnered with other forum members to buy ASICs where they handle it in China and we share the profits after the investment has been recouped.

[wtman]

I'm new to bitcoin mining but I'm not new to business.

Interested in learning more.

btw you guys could move to mining the other upcoming currencies. There's no reason why there won't be 3-4 major popular currencies rather than just bitcoin.

I'm interested in learing about mining

[Pinwheel]

I'm new to bitcoin mining but I'm not new to business.

Interested in learning more.

btw you guys could move to mining the other upcoming currencies. There's no reason why there won't be 3-4 major popular currencies rather than just bitcoin.

I'm interested in learing about mining

that is not that simple. I think not much information shared actually. Do some maths and try practically, then you may get a picture, if it worth mining other coins or not. with ASIC introduction and difficulty rise in bitcoins, other coins making some alternative for many miners. But even despite of difficulty rise bitcoins mining profitability on highest level ever, thanks to rise in btc/usd rate.

[Benson Samuel]

Alt coins can only take off once services start revolving around them.

Build an LTC casino or a FRC game and watch the prices soar if done correctly.

Bitcoins biggest advantage was that they had merchant adoption before it came out in gawker.

[18dew]

Do any one know how to put Scrypt and SHA256 miner on GAE.

[Benson Samuel]

i have used scrypt on cgminer

[legendster]

THIS is a thread I wanna live on !