Hi Everyone,
I know we all hold a common interest in crypto currencies, probably primarily due to Bitcoin trading, but Mining is starting to pick up in India. Beware though, there are several scammers who sell weird MLM schemes based on Bitcoins or other crypto currencies. You should Only invest in crypto currencies if you have read a lot about it, see it having a stable future and understand the technology behind it. Once you have done all that, I believe the only two safe routes of investment are :
Buying Crypto Currencies and trading them at exchanges, or holding them if you believe in going long for larger profits.
Investing in setting up mining hardware, keeping it up and running with the latest software, generating crypto currencies through mining, and then trading, selling or holding it.
Now while the former is easier, its still largely open to financial risk. I personally chose to go with the latter, that is Mining, because I understood computers and it interested me. But for someone who is new to this, the amount of information that you need to assimilate and process is daunting. This is where people who sell pre-built mining computers come in. Look around the marketplace, and you will find some interesting deals.
I've been into mining for a while, started with Ethereum in August this year post the introduction of the RX 470 cards, which is the first time mining at India's temps and electricity costs made sense.
I have already almost recovered my initial investment, and am bullish on the future of crypto currency mining.
I grew my
personal setup to 1000MH/s at which point I hit the electrical capacity of my current apartment. So I began building rigs for other people.
I have sold a few Rigs in Bangalore and in Delhi.
I use Bios Mods and Voltage tweaks to keep power consumption to
under 100W per card while getting 25.5 Mh/s (Eth) or 170 Sol/s (Zec).
My cost structure is simple :
25k per card. So a
4 Card Rig is 100K, a
5 Card Rig is 125K, a
7 card Rig is 175K and so on.
If you are interested in purchasing such a rig from me directly, please go to this thread for more information
https://bitcointalk.org/index.php?topic=1703590In anycase, even if you decide to build your own machine, please do, I would love to see the Indian Mining scene grow, our neighbor China already holds about 70% of the worlds mining hashpower and I believe we have as lot of potential as well.
