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Author Topic: Need Suggesion from Mining Experts !  (Read 1374 times)
tenaciouzd
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May 14, 2016, 04:28:16 AM
 #1

I don't know if this is the right board to post this.

I am using bitcoin from last 3 years and i am from a country where bitcoin is banned.But the electricity cost of my country is way too low or i can use electricity all day free.But i don't have any information about mining.I only that mining bitcoin needs a mining hardware that's it.

Questions : 1

Is it possible to get mining software as bitcoin is banned here? will custom release?

Question : 2

I have no knowledge about mining just know need hardware.Then how to set hardware to start mining?


I am interested as electricity is way too low or i can get free.Any input will highly appreciate !

Regards
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cloverme
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May 14, 2016, 01:39:34 PM
 #2

Mining is actually fairly easy these days without a lot of difficulty. You just need some basic IT skills.

"Is it possible to get mining software as bitcoin is banned here? will custom release?"

You don't need any software, just hardware.

"I have no knowledge about mining just know need hardware.Then how to set hardware to start mining?"


Get your miners from Bitmain https://www.bitmain.com/

Someone put together 2 videos for setting up the S7 miner:
https://www.youtube.com/watch?v=QGTprGgRitA
https://www.youtube.com/watch?v=QIs74wNtXIU

Unbox your miners and connect them up to power supplies
Connect your miners to your network
Connect them to a pool, I recommend http://solo.ckpool.org/ but you can use whatever pool you want.

Someone put together a nice guide here:
https://www.bitcoinmining.com/getting-started/
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May 15, 2016, 01:48:53 AM
 #3


I don't know if this is the right board to post this.

I am using bitcoin from last 3 years and i am from a country where bitcoin is banned.But the electricity cost of my country is way too low or i can use electricity all day free.But i don't have any information about mining.I only that mining bitcoin needs a mining hardware that's it.

Questions : 1

Is it possible to get mining software as bitcoin is banned here? will custom release?

Question : 2

I have no knowledge about mining just know need hardware.Then how to set hardware to start mining?


I am interested as electricity is way too low or i can get free.Any input will highly appreciate !

Regards

The first decision you have to make if you are set on becoming a bitcoin miner is whether or not you want to host your own hardware. It only makes sense to host your own hardware if you are either able to get free electricity or your electricity cost is less than the average electricity cost globally. To give you some perspective, the average electricity cost in the US is about 12 cents per kilowatt-hour, compared to China where the electricity cost 8 cents per kilowatt-hour.

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May 16, 2016, 06:58:06 AM
 #4

where do you live, because you say it's banned? if it is like venezuela or other countyr like bangladesh it's better to avoid, you may end in jail there

usually besides this you need to look at bitmain, they sell the antminer s7 for cheap and with your electricity it would be profitable an you would reach roi, in a reasonable time frame
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May 16, 2016, 09:53:15 AM
 #5

where do you live, because you say it's banned? if it is like venezuela or other countyr like bangladesh it's better to avoid, you may end in jail there

usually besides this you need to look at bitmain, they sell the antminer s7 for cheap and with your electricity it would be profitable an you would reach roi, in a reasonable time frame

I've heard that Bitcoin mining was banned in some countries but I still can't imagine someone really goes to jail for it. Were there such cases actually? I hope not, but unfortunately I may be wrong.

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jacobmayes94
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May 18, 2016, 08:36:39 PM
 #6

Ecuador is another place where bitcoin is banned.

Jacob
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May 18, 2016, 10:24:33 PM
 #7

Ecuador is another place where bitcoin is banned.

Jacob

Really??  They started their own coin though didn't they??

https://www.cryptocoinsnews.com/ecuador-first-nation-create-digital-currency/

There are other coins you can mine with video cards if getting a bitcoin miner shipped to you is not possible  Wink

You can exchange them for BTC at various exchanges & keep a BTC wallet on your PC/laptop.

Not sure if you can use localbtc.com to cash out your BTC to gift cards or paypal though.

"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole."  -Raylan Givens
Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be
"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan Smiley
tenaciouzd
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May 19, 2016, 06:33:26 AM
 #8

thanks for the response guys !

I think i am interested to mine lite coins with video cards.

Can anyone guide me how much will it cost to set up? i want to mine as much as possible to mine per day


Thanks again
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May 20, 2016, 10:14:01 AM
 #9

thanks for the response guys !

I think i am interested to mine lite coins with video cards.

Can anyone guide me how much will it cost to set up? i want to mine as much as possible to mine per day


Thanks again

Why not look into mining ethereum with gpu(s)? Here's something to get you started: https://www.cryptocompare.com/mining/guides/how-to-connect-to-an-ethereum-mining-pool/

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May 21, 2016, 03:40:25 AM
 #10

Really??  They started their own coin though didn't they??

https://www.cryptocoinsnews.com/ecuador-first-nation-create-digital-currency/
If you mean "coin" as in crypto-currency then no:
https://bitcointalk.org/index.php?topic=933987.0

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