Miners from India

[RapTarX]

Anyone active here? I'm interested in learning mining bitcoin. I'm not sure where to start my study for mining because I'm newbie in this industry. Is mining profitable in India?
Please guide me a little.

[1714135059]

1714135059

[1714135059]

1714135059

[SaShiRaJaVu]

Anyone active here? I'm interested in learning mining bitcoin. I'm not sure where to start my study for mining because I'm newbie in this industry. Is mining profitable in India?
Please guide me a little.

If your plan is to mine bitcoin in 2019 i would suggest you against it, if you are looking for profit, investing in bitcoin is the best option rather than investing money in mining hardware, even if you are able to spend a million for the hardware, the amount of heat that produces from these machines will be huge and you need to spend a lot of money to keep the temperature at bay, in short it is not a viable option but you can mine for fun.
If you really wanted to mine, then check out alt coins if you can get hold of cheap graphic cards, return of investment for the amount of money we spend and the maintenance will be a hurdle, consider all these before jumping into it.
If you are staying in a sub zero temperature and the electricity charges are cheap i will encourage you to mine.

[RapTarX]

Anyone active here? I'm interested in learning mining bitcoin. I'm not sure where to start my study for mining because I'm newbie in this industry. Is mining profitable in India?
Please guide me a little.

If your plan is to mine bitcoin in 2019 i would suggest you against it, if you are looking for profit, investing in bitcoin is the best option rather than investing money in mining hardware, even if you are able to spend a million for the hardware, the amount of heat that produces from these machines will be huge and you need to spend a lot of money to keep the temperature at bay, in short it is not a viable option but you can mine for fun.
If you really wanted to mine, then check out alt coins if you can get hold of cheap graphic cards, return of investment for the amount of money we spend and the maintenance will be a hurdle, consider all these before jumping into it.
If you are staying in a sub zero temperature and the electricity charges are cheap i will encourage you to mine.

I am interested to learn the process practically. Otherwise, it's almost impossible to acquire knowledge on it. I might consider mining altcoin later, but the only purpose is to learn it.
What's the minimum cost I have to spend?

[SaShiRaJaVu]

I am interested to learn the process practically. Otherwise, it's almost impossible to acquire knowledge on it. I might consider mining altcoin later, but the only purpose is to learn it.
What's the minimum cost I have to spend?

If you are considering altcoin mining, the cost of hardware depends on what graphic card you are planning to purchase.
AMD RX570/580 (The price might come around 15000 INR per card)
Nvidia GTX 1060 6GB (The price might come around 23000 INR per card)
AMD Radeon RX 460 (The price might come around 9000 INR per card)

You can built a rig with six to eight cards stacked together and you can built your own case or you can purchase that online and the cables and all the other connectors charges are extra. Hope you have an idea now.

[playboy654]

I am interested to learn the process practically. Otherwise, it's almost impossible to acquire knowledge on it. I might consider mining altcoin later, but the only purpose is to learn it.
What's the minimum cost I have to spend?

If you are considering altcoin mining, the cost of hardware depends on what graphic card you are planning to purchase.
AMD RX570/580 (The price might come around 15000 INR per card)
Nvidia GTX 1060 6GB (The price might come around 23000 INR per card)
AMD Radeon RX 460 (The price might come around 9000 INR per card)

You can built a rig with six to eight cards stacked together and you can built your own case or you can purchase that online and the cables and all the other connectors charges are extra. Hope you have an idea now.

I know someone who bought AMD cards and setup their own mining rigs,it cost around 4,00,000 for them and they used to mine altcoins on it but with the current price it is no more profitable they considering sale the equipments and want the money to invest back on the altcoins rather than mining it.

Mining can be profitable at long term.

[deadsix]

Mining is more of a low risk long term reward project, its usually better to just buy the coin directly if you believe in it and want quicker profits.
But investing in crypto also carrys the risk of all your investment being virtual, while mining atleast secures part of your investment in hardware which has some resale value.

I know someone who bought AMD cards and setup their own mining rigs,it cost around 4,00,000 for them and they used to mine altcoins on it but with the current price it is no more profitable they considering sale the equipments and want the money to invest back on the altcoins rather than mining it.
Mining can be profitable at long term.

Well thats a pretty steep price, I think he purchased the parts during the mining peak when everything was double the price, and even then he got scammed with the prices.
Mining hardware has been really cheap this year with the crash that happened last year, and prices are yet to rise again even though the bull run has begun.
There are a ton of great resources in the altcoin mining threads on bitcointalk, spend some time reading those, theyll help.

[playboy654]

Mining is more of a low risk long term reward project, its usually better to just buy the coin directly if you believe in it and want quicker profits.
But investing in crypto also carrys the risk of all your investment being virtual, while mining atleast secures part of your investment in hardware which has some resale value.

I know someone who bought AMD cards and setup their own mining rigs,it cost around 4,00,000 for them and they used to mine altcoins on it but with the current price it is no more profitable they considering sale the equipments and want the money to invest back on the altcoins rather than mining it.
Mining can be profitable at long term.

Well thats a pretty steep price, I think he purchased the parts during the mining peak when everything was double the price, and even then he got scammed with the prices.
Mining hardware has been really cheap this year with the crash that happened next year, and prices are yet to rise again even though the bull run has begun.
There are a ton of great resources in the altcoin mining threads on bitcointalk, spend some time reading those, theyll help.

Yes mining can be profitable forever or the crypto transactions will not happen since we need miners to confirm the transaction but again it takes time to make profits and also you said we are investing on hardware not on the cryptos.