How to Start Mining in India

[prateek1978]

Dear all Member's

I am little bit confuse Please suggest me the best

I am not new for bitcoin but i am new for setup bitcoin mining hardware in my place. i lost lot of money over cloud mining, now i decided to purchase hardware for mining & do it self,

I am here because i am quite confused , for purchasing hardware for Mining in India please suggest me the hardware , i want to setup mining rig under Rs - 1,00,000 /- with those hardware we get maximum ROI ,
 


waiting for your response, Thanks 




 

[1715146552]

1715146552

[skang]

I used to mine till more than an year ago, so take my advice accordingly.
Firstly, I don't think that this much investment is profitable for mining bitcoins in particular.
Secondly, my suggestion is to get good graphic card and mine altcoins.
My strategy was to mine every new coin for 2 days to upto a month depending on how its launch goes, then I used to dump them and I "always" made profits.
Last suggestion, a big suggestion, would be to collaborate with others, display your mining management skills & profit and then do a group-buy crowdfunding. Then you'd be able to raise money and play into bigger risks and that would attract investors who are not into cryptocurrency as well.

[DineshLodhi]

Hi,
i also looking to same setup at my home under 1L.
So can u please guide us about the hardware for mining new coins with name specification.

[Digitalbitcoin]

Mining is a great way to generate Cryptocurrency.

I think firstly miner must have to understand basic things as what type of power you have already as there are CPU and GPU power can be used for mining Cryptocurrency.
Now there are some scrypts which are used to run coin scrypts.

There are mainly SHA256, X-11, X-13 and  Ethash and few more.

scrypts used to mine specific cryptocurrecny.

[prateek1978]

I used to mine till more than an year ago, so take my advice accordingly.
Firstly, I don't think that this much investment is profitable for mining bitcoins in particular.
Secondly, my suggestion is to get good graphic card and mine altcoins.
My strategy was to mine every new coin for 2 days to upto a month depending on how its launch goes, then I used to dump them and I "always" made profits.
Last suggestion, a big suggestion, would be to collaborate with others, display your mining management skills & profit and then do a group-buy crowdfunding. Then you'd be able to raise money and play into bigger risks and that would attract investors who are not into cryptocurrency as well.

thanks For reply "skang"
but if i compare GPU mining ( graphics card + mobo +cpu +ram +hdd)  & Antminer S7 the cost will same
   

[prateek1978]

Mining is a great way to generate Cryptocurrency.

I think firstly miner must have to understand basic things as what type of power you have already as there are CPU and GPU power can be used for mining Cryptocurrency.
Now there are some scrypts which are used to run coin scrypts.

There are mainly SHA256, X-11, X-13 and  Ethash and few more.

scrypts used to mine specific cryptocurrecny.

Thanks Bro, 
if i decided to do mining with Antminier S7 ( 4.73 TH/s) , it is based on SHA256 this minier only mine BTC or any other coine will be mine from this hardware

[skang]

I used to mine till more than an year ago, so take my advice accordingly.
Firstly, I don't think that this much investment is profitable for mining bitcoins in particular.
Secondly, my suggestion is to get good graphic card and mine altcoins.
My strategy was to mine every new coin for 2 days to upto a month depending on how its launch goes, then I used to dump them and I "always" made profits.
Last suggestion, a big suggestion, would be to collaborate with others, display your mining management skills & profit and then do a group-buy crowdfunding. Then you'd be able to raise money and play into bigger risks and that would attract investors who are not into cryptocurrency as well.

thanks For reply "skang"
but if i compare GPU mining ( graphics card + mobo +cpu +ram +hdd)  & Antminer S7 the cost will same
   

If more powerful ASICS come online in future then S7 will be obsolete whereas with a GPU you can switch to a new coin if difficulty gets too high.
If you have free electricity then value of S7 holds irrespective of future (unless it's something drastic) and its better than GPUsetup.
Otherwise, GPUsetup at same price is better than a bitcoinASIC.

Plus if it doesn't work out you end up using/selling a gamingPC

[prateek1978]

I used to mine till more than an year ago, so take my advice accordingly.
Firstly, I don't think that this much investment is profitable for mining bitcoins in particular.
Secondly, my suggestion is to get good graphic card and mine altcoins.
My strategy was to mine every new coin for 2 days to upto a month depending on how its launch goes, then I used to dump them and I "always" made profits.
Last suggestion, a big suggestion, would be to collaborate with others, display your mining management skills & profit and then do a group-buy crowdfunding. Then you'd be able to raise money and play into bigger risks and that would attract investors who are not into cryptocurrency as well.

thanks For reply "skang"
but if i compare GPU mining ( graphics card + mobo +cpu +ram +hdd)  & Antminer S7 the cost will same
   

If more powerful ASICS come online in future then S7 will be obsolete whereas with a GPU you can switch to a new coin if difficulty gets too high.
If you have free electricity then value of S7 holds irrespective of future (unless it's something drastic) and its better than GPUsetup.
Otherwise, GPUsetup at same price is better than a bitcoinASIC.

Plus if it doesn't work out you end up using/selling a gamingPC

bro i know that S9 is also in market it will cost arround $2500 in india with 14 TH/s hash rate . and S7 came with 4.73 TH/s & the cost is $550 in india. if i purchase 4 S7 minier then my rig hash rate is arround 18 TH/s , it is profitable? as compare to S9 .

forget about electric cost,
i had place where electric bill is ZERO then. it is profitable or not in 1 years my expense is only internet connection,

[skang]

bro i know that S9 is also in market it will cost arround $2500 in india with 14 TH/s hash rate . and S7 came with 4.73 TH/s & the cost is $550 in india. if i purchase 4 S7 minier then my rig hash rate is arround 18 TH/s , it is profitable? as compare to S9 .

forget about electric cost,
i had place where electric bill is ZERO then. it is profitable or not in 1 years my expense is only internet connection,

If the electric bill is zero go for it!
A reporter recently asked several chinese miners about whether he might stop mining after halving. They replied they wouldn't because they had already invested in hardware and electricity cost is zero so no harm in running.

[Digitalbitcoin]

Its glad to share you few very useful information.

As you are looking for Antminer s7 or s9. But I will suggest you to stay away from bitcoin mining.

As Bitcoin is SHA256 based scrypt. And due to this scrypt it can be mined with only Asic miner. Now a days mining bitcoins is quite tough for newbies and old one too. Bcz of many factors as difficulty level, block height, increase in difficulty etc.

My suggestion is to go for any other scrypt . as x-11 or x13. Bcz many of coins run on these scrypts so we can decide what to mine and which currency mining will be profitable.

[jayguar]

If you are going for an Antminer, you can also look at mining other new or recently released SHA256 coins instead of bitcoin as they would be more profitable than bitcoin.

[samsan]

what about litecoin mining

[bitcoinusd]

I dont think mining bitcoin is not very profitable any more or may be it could cause some losses.
i also thought about it but changed my plan now

[gourav17]

Dear all Member's

I am little bit confuse Please suggest me the best

I am not new for bitcoin but i am new for setup bitcoin mining hardware in my place. i lost lot of money over cloud mining, now i decided to purchase hardware for mining & do it self,

I am here because i am quite confused , for purchasing hardware for Mining in India please suggest me the hardware , i want to setup mining rig under Rs - 1,00,000 /- with those hardware we get maximum ROI ,
 


waiting for your response, Thanks 




 

I will suggest you Miners by TechnoMiner.

Smart , Fast and Powerful Miner by TechnoMiner
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We provide energy efficient and profit generating miner at best cost in the market...

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We deliver our products all across the India.

[dvabit]

I used to mine till more than an year ago, so take my advice accordingly.
Firstly, I don't think that this much investment is profitable for mining bitcoins in particular.
Secondly, my suggestion is to get good graphic card and mine altcoins.
My strategy was to mine every new coin for 2 days to upto a month depending on how its launch goes, then I used to dump them and I "always" made profits.
Last suggestion, a big suggestion, would be to collaborate with others, display your mining management skills & profit and then do a group-buy crowdfunding. Then you'd be able to raise money and play into bigger risks and that would attract investors who are not into cryptocurrency as well.

How much you had invested on devices? secondly i heard there are lots of electricity has been taken place? right? waiting for reply.... 

[minersatwork]

1.In India - taxes are pretty high
2.Consider joining www.minersatwork.com upcoming pre-ICO on 6 Dec
3.It is a Singapore based startup for mining which has tax advantages
4.It has economics of scale,profitable and successful setup which is scaling up.
58% of rewards are shared with investors which will turn out to be higher than if u mine urself.
it has been highligthed in Indian media as well
http://www.zeebiz.com/agencies/indian-bizman-set-to-launch-ico-offer-for-asian-businesses-30938
http://businessworld.in/article/Indian-Bizman-Set-to-launch-ICO-Offer-For-Asian-Businesses/10-11-2017-131276/
Regards

[sanmankrauss]

Yes BTC Mining is still profitable iin India if someone says otherwise is just ignorant

But  you need to mine with ASICs mining with GPUs is old now
Mining altcoins with GPU is ok but BTC is going to be tough and not rewarding enough

[dongamk]

Dear all Member's

I am little bit confuse Please suggest me the best

I am not new for bitcoin but i am new for setup bitcoin mining hardware in my place. i lost lot of money over cloud mining, now i decided to purchase hardware for mining & do it self,

I am here because i am quite confused , for purchasing hardware for Mining in India please suggest me the hardware , i want to setup mining rig under Rs - 1,00,000 /- with those hardware we get maximum ROI ,
 


waiting for your response, Thanks 




 

better to mine altcoins. eth rig with 150mh/s can get you around 0.9eth/month easly. good roi compared to btc mining.

[sanmankrauss]

Dear all Member's

I am little bit confuse Please suggest me the best

I am not new for bitcoin but i am new for setup bitcoin mining hardware in my place. i lost lot of money over cloud mining, now i decided to purchase hardware for mining & do it self,

I am here because i am quite confused , for purchasing hardware for Mining in India please suggest me the hardware , i want to setup mining rig under Rs - 1,00,000 /- with those hardware we get maximum ROI ,
 


waiting for your response, Thanks 




 

better to mine altcoins. eth rig with 150mh/s can get you around 0.9eth/month easly. good roi compared to btc mining.

I think BTC mining also the ROI is good the only challenge is procurement of miners in India
I have been importing these for myself for last 3-4 months now and feel that they actually have a better ROI than ETH

[spmbharani]

what is the cost of miner that any can afford to get better ROI ?