How our Bitcoin India Mining works?
Wij are a hosted mining company && wij are not a “Cloud mining” company, or wij are not a “MLM” company.
- Wij are the most profitable mining pool operation te india
- Or te a way that customers earn the most from mining revenue
- No middle man
- No MLM
- Miner indeed mine to customers wallet
- You can buy 1 unit worth of hashing and it work Utter FORCE for you With electric current toverfee paid each month
- So Projection of mining revenue is straight
- Very close to https://alloscomp.com/bitcoin/rekenmachine
If you wants to mine into our mining pool = payouts are PPLNS. So you get paid when pool finds the block. Here is how to mine BTC into BTCI pool
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Still have a question? Ask your own!
and see if you truly want to invest ter mining.
Pagina on rigwarz.com has all of the current mining hardware available with amazing informatie.
6 TH/s will mine you about 0.1529 BTC today which will decrease spil the difficulty inevitably rises.
But attempting to estimate the difficulty adjustments or the price of bitcoin is zuivere voodoo. Who knows what fresh ASIC is gonna come along and send the network hash rate into oblivion. So it',s safe to assume that whatever you are getting when you very first commence mining is going to undoubtedly decrease
100 Yukons would pull about 350000 watts :/ so the power bill alone to run such an operation is going to be fairly a bit.
$115054 dollars a year on power assuming your electro-stimulation rate (USD/kWh) $0.15
Brief response No
Long reaction – possibly, but it’s not effortless:
You may if you had massive amounts of money and access to lots of resources – like large numbers of powerful asic equipments and cheap power. Like thesis guys:
Stats quotes ter the movie:
3% of computing power (October 2014)
6 dedicated Bitcoin mining sites
Generates Four,050 Bitcoins a month (20–25 bitcoins each webpagina vanaf day)
Monthly tens unit bill $80,000 a month
If you consider what you see ter the video… if you’ve got access to the type of location, network access, hardware and electro-therapy that they vertoning (that’s just 1 webpagina of their 6 sites), I’d very likely use it for something that provides better comebacks.
Why is it worthwhile te China? Because of the monetary control policies and request for Bitcoin te China.
India? Not sure… If I had that level of access to resources and computing power te India, I’d most likely do something more useful
Also, recall that the prize blocksize has already halved since the movie, so the most you’d get if you managed 3% of the global Bitcoin computing power, is half that prize size
Two,000 BTC / month
Thanks for A2A. I am sorry to say this but it is practically not possible to mine about 4000 bitcoins overheen a year ter India. Why? It is Elementary, the hardwares are expensive. The cost of electrical play and internet is big and the internet deep-throats. It is true that there are companies like 21 who are coming up with affordable hardwares specifically designed for mining Bitcoin but their success rate is still doubtful. Another major hindrance is that halfway through this year the block prize is going to get halved from 25 Bitcoin ter every Ten minutes to 12.Five Bitcoin.
4000 Bitcoins by mining? Next to unlikely!
Online cloud mining services', terugwedstrijd of investment is too low. It would take either giant investments ter their mining services or a lotsbestemming of time and patience to make 4000 BTC ter a year.
Setting up your own equipment to mine Bitcoins by solving the hash? Again, ample investment, large maintenance and a lotsbestemming of real estate. Very impractical.
Only way to get 4000 BTC te a year is by buying them. Buy 333 BTC every month to make 4000 BTC overheen the year.
My guess would be very likely not. Unless you get access to utterly cheap Mining hardware, free tens unit, and live someplace cold enough that you won',t have to pay to cool the equipment, you',re at a disadvantage te the mining industry. And it doesn',t matter how much money you throw at the problem because it scales. For more information read my article Article Four – Should I Begin Mining Bitcoin?
Ter my view, commercialization is already te place te the mining industry. Big players are indulging ter mining practices, making market for petite players difficult.
And cloud based mining, where users are permitted to mine through cloud is also going on total sway.
So, i am not sure of the income you get on your investment on Bitcoin mining.
But, presently, you can attempt some cloud based bit coin mining services and see if the overall mining concept reaches your expectation.
Still have a question? Ask your own!
Bitcion mining works on Proof Of Work overeenstemming mechanism
What is proof of work?
All miners lend their computation power to the Bitcoin network and verify transactions. Thesis verified transactions are clubbed into a block. On every block mined, Bitcoins are awarded . For the purpose of earning via mining, you need to understand this that the probability of you mining a block is proportional to your contribution to the entire network hash rate.
Bitcoin is a Proof of Work cryptocurrency that now cannot be mined with computational power from a CPU or GPU. This means it better to use an ASIC to mine Bitcoins than using your average pc
- On an average a block is mined ter Ten minutes, i.e. 144 blocks are mined ter a day
- Total network hashrate is approx 7,522,498,553 GH/s
- Mining prize is approximately or less than 12.Five BTC/block presently
Using the formula n = (Network Hashrate) / (144 * Avg Block Prize) :
where n is Computational Hashrate required to mine 1 BTC ter a day
n = 4000TH/s to mine 1 BTC vanaf day
=>, Approx 14TH/s is required to mine 1 BTC te a year.
The total prize will decrease spil network hashrate and difficulty will increase.
Now lets say you are mining 1 BTC ter a year with 14TH/s and you purchased 1 Antminer S9 for this. You will have to spend almost $3000 for the hardware plus invoer duties and other accessories.
Total approx cost of hardware: ₹ Two.27 Lacs
Violet wand cost: 1.3KW with cost of electro-therapy for the miner equal to ₹ 8 vanaf unit. Yearly violet wand cost would be around Rs.90000
Te addition to this you will have to spend on cooling equipment and its electro-therapy cost. Plus other wear and rip. This makes cost of mining 1 Bitcoin to be around ₹ Three.5–4 Lacs.
If you believe that Bitcoin will rise more than ₹ Five Lac te a year than it is profitable to mine Bitcoin else it will be better to buy 1 directly.
This is something of a conversation with a friend, think this might come handy here:
Q: Reasons? Isnt legality a big hindrance. Also power of currency ter supply getting challenged?
A: Just my opinion, I feel that there is a request for anonymous decentralized transactions and it is going to grow te the future. Any legal alternative will defeat the purpose and thus, with developers integrating fresh technologies it seems Bitcoin will keep soaring.
Q: Any idea about mining bitcoin yourself?
A: Yep, anyone can do it, need a high upfront cost to achieve profitability, again with a high risk factor due to volatility
Q: Is the process automated?
A: Mostly yes, needs specialized graphic cards tho’ and domain skill
Q: I agree that the transaction is not traceable hence, the illegal transactions (or hawala) :p would be fairly simpler.
A: Yep, there could be significant barriers that governments could create like the latest kerkban te China, which will increase the associated risk. Here is nice article I read a few days back covering a few Indian miners : https://factordaily.com/cryptocurrency-bitcoin-ethereum. /
Q: China banned the trading, not the currency however!
A: What will you do with a currency you can',t trade, spil good spil dead
Q: Isnt it like Stamping your own currency through mining.
A:not ter case of bitcoin, the miners just verify transactions on the network and the network ter turn pays them with some coins
Q: pls explain, this is fresh to mij. what i perceived wasgoed that you can samenvatting bitcoins through block chain technology. However the only differentiation te Bitcoin and other crypto wasgoed that bitcoins are stationary and limited,
A: you are right that fresh coins are created, but the are the result of transaction verification the limit will never be reached spil it will become more difficult overheen time to mine those coins Here is a good movie
Q: yes the prizes are decreasing.. so extraction opf bitcoin will take more time
A: more investment so to say
Q: yes.. time will convert into cost only
BTW, interesting discussion forum you just began
Q: i did not understand this part, transaction verification
A: It took a lotsbestemming of time for mij to get it spil well, the system is designed such that verification of transactions is done by peers, if you participate te that verification (this involves solving a cryptic problem needing computing powers), you are rewarded by the network with some coins.
Q: Ok.. so only money will not get mij bitcoins, a programmer can if possible fetch bitcoins spil prizes
A: yes, there is the meteen way to exchange bitcoin with money + 2nd way of mining it
Cuz i wasgoed contemplating why not mine it yourself..
A: Earlier the system grew like that, but now mining is costly
but it is not the cost, challenge is if any intellect is reqd for mining
A: many people are self-taught miners, I don',s see any barrier te that direction
A: The mining software is itself loosely available
Q:So if i want to mine, i can mine bitcoins even however im technically handicapped
A: Technically, you can do it but risk and high upfront cost are the obstacles.
Q:Bitcoin is also on the trajectory of a bubble ter the future.
A: Once you embark mining you get locked ter, unlike traders who may dessert. Exactly!
It wasgoed nice discussing with you.
A:I should thank you too, got mij thinking on thesis things spil an investment chance
Q: haha.. let mij know if u invest.. im also contemplating
you know that there is an ATM te India, that does accept Bitcoin
A: not aware of that, only know of BTCX india exchange
Investment for mij will take some time now, all this loan to pay off
Q: hahaha. can understand.. but see an chance for u to pay off swifter
with 5X terugwedstrijd on bitcoins
A: will take some drinks to gather that courage
The best bitcoin miner available te market today is the 14 TH/s Antminer S9 with power consumption of 1370W and is priced at $1700 on bitmain.com . You will also need to purchase a 1600W power supply along with it. Suggested one is the APW3+ power supply which is also available on the same webpagina at $105. So, total hardware cost is around $1800. Along with the customs charges for importing it, the total comes to around $2300. This cost te number of Bitcoins will be around 1.16 Bitcoins (1BTC =$1980).
Now let us calculate the profitability of mining Bitcoins with an Antminer S9.
With the current difficulty factor which is at 559970892891( spil on 20 May 2017), if you have 14 TH/s power, you will be able to mine 0.Legal Bitcoins vanaf month. Assuming the difficulty level to be same and electric current to be free, it will take around 6.Five months to voorkant the hardware costs alone.
Let us now factor the electro-stimulation costs. The lowest electrical play tariff ter India, which I guess is ter Jharkhand, is around Rs. Three.Two/kWh. With the power rating of 1370 W, te one month wij will be using around 1000 kWh which amounts to Rs 3209 or 0.024 Bitcoins.
When more miners keep getting added to the network, the mining difficulty increases spil the number of blocks to be solved ter a specific interval of time remains onveranderlijk. On an average the difficulty factor increases by around 5% vanaf 14 days.
The number of bitcoins generated ter 19th month will be 0.026 and ter 20th month will be around 0.023 which is lower than the cost of electrical play.
The number of bitcoins mined ter Nineteen months will be 1.556 Bitcoins
Electro-stimulation cost for Nineteen months will be 0.456 Bitcoins
So, netwerken income will be 1.556-0.456=1.1 bitcoins
Televisiekanaal loss= hardware cost – income =1.16-1.1=0.06 Bitcoins
Since electro-stimulation cost becomes greater than the bitcoins mined, a break-even point will never be reached.
Thus, Bitcoin mining with the world’s most efficient miner, the Antminer S9, cannot even recover your hardware costs.
Bitcoin mining profitability is something that is always te flux. With Bitcoin having such a high difficulty and large total hashrate, at times profitability can come down to several things.
The very first set of gegevens you will want to use for discovering if Bitcoin mining can be profitable for you or not is the following but not limited to:
- cost of Bitcoin ASIC miner(s)
- cost of tens unit to power miner (how much you are charged vanaf kwh)
- cost of equipment to run the miner(s)
- cost of PSU (power supply unit)
- cost of network gear
- cost of internet access
- costs of other supporting gear like shelving, racks, cables, etc.
- cost of building or gegevens center if applicable
- key value of Bitcoin overheen the life of the miner
Taking all of thesis factors into account will give you a rough comeback on investment (ROI) date, which is the date by which all the components are paid for by your mining earnings. Several are reoccurring however like electro-stimulation costs, internet access, and building or gegevens center costs if applicable.
Spil noted the key to achieving ROI is the value of Bitcoin, spil wij all know it is has high volatility, sometimes with extreme swings. This can make calculating profitability problematic at times. Your purpose is to mine bitcoin at its current value spil efficiently spil possible. This means buying the most up to date equipment when you are buying it unless you can get some ASIC that is a generation or so back that is cheap enough that still makes more ter bitcoin than is costs ter violet wand. Newest gen Bitcoin ASIC miners are usually more powerful using less power vanaf gh/s.
With the rising difficulty it can also cut into your profits if you are taking less of a share of the block prizes due to rising total hashrate. The difficulty goes up or down based on how rapid or slow block times are. Block times are the time it takes for a transaction set to be recorded and the hash created on the blockchain. Bitcoin targets for a
Ten minute block time and will reset harshly every two weeks based on the average time to solve (process) a block. If ter the time period more miners are added to the network that permits a block to be solved te less than
Ten minutes it means that the difficulty will go up to slow the block generation to
Ten minutes. If enough hashrate has left the network and blocks are being solved te more than
Ten minutes the difficulty will druppel permitting the miners to process blocks te harshly
Ten minute intervals. You will want the hashrate to be fairly stable spil that will keep the amount of bitcoin you receive for mining harshly the same. If the Bitcoin value holds sustained or goes up spil well it will help spil well.
http://Bitcoin.com has launched it’s own pool mining operation along with cloud mining contracts with competitive pricing, which you can register for and start mining today . There is also a excellent third-party implement made by Grey Wyvern to estimate the come back on your investment on the Bitcoin Pool based on several variables the user can input which will calculate profitability.
Spil you can see Bitcoin profitability is a moving target so be vigilant ter monitoring your costs each month to mining prizes and their value at the time of receiving. Keep an eye on mining pool fees spil some are free and others are not with a percentage or more added into the cost of your mining. The higher Bitcoin’s value goes the longer you can run your mining gear profitably spil long spil the total hashrate does not keep going up spil well causing the difficulty to keep your earnings even or even down spil time goes by.
While running your own mining equipment can be joy and at times profitable it is not always something you can do at huis. Miners generate slew of warmth and noise. That needs to be taken into account for where you are going to place your miners. Most cannot be run ter the house unless you have a garage, basement or slagroom that can treat the warmth and noise. Te this case you may want to host your miners ter a gegevens center or some other suitable place. If you want to be able to mine without the hassle of the physical miners themselves you can use a cloud mining or hosting service.
Bitcoin mining is mainly being done ter China. There are reasons why it is happening so much te China and not ter India. Please see some basic requirements :
- Bitcoin mining requires servers specially made for Bitcoin Mining. China makes lots of such servers at very competitive prices. If wij invoer thesis servers into India, powerful invoer duty makes it less feasible.
- Lots of consistent electrical play is required. Electro-therapy is very cheap te China where spil ter India it is very expensive. If wij depend on self generation electro-therapy through generators etc, then it becomes more expensive and cumbersome. Ter India, supply of electric current is also an kwestie. With high powercuts, you are compelled to depend on generators which increases the cost of running servers.
- Maintainance : Servers needs lots of maintainance. Large amount of fever is generated while running thesis servers. They have to be running 24 hours, hence you need to have airconditioning to keep them cool and running slick.
- Consistent high speed internet is a necessity for bitcoin mining.
Based on above requirements, one can see if it is profitable to carry Bitcoin Mining ter India or not. Yes Pool bitcoin mining options are there. Refer : Pool Bitcoin Mining – A Business Chance
I am not sure about your current prices on electro-therapy te India and how available special hardware for mining is there, but there is always an alternative, which doesn’t depends on you country – Cloud Mining services.
HashFlare is one of the most profitable and trusted cloud mining service from all that present on the market.
I have made comparison table with forecast profitability of HashFlare cloud mining service for different mining contracts to make it more effortless for you to choose.
- BTC mining difficulty isn’t growing recently, because there is lack of ASIC miners available for sale, everzwijn several cloud mining companies have stopped selling mining contracts till spring!
- So, combining two factors: stable mining difficulty and meaty grow ter rente to bitcoin from investors, wij can await it’s future price grow and cloud mining be more profitable than usual!
- Moreover, maintenance fees are counted ter $, so with high bitcoin price they are low and mining everzwijn more profitable!
- Bitcoin is now best investment with good profitability and investment come back time.
- Dash cloud mining is worst investment now, because the difficulty enhanced dramatically after hardware miner wasgoed developed.
- All incomes counted for 1.000$ invested
- For BTC &, LTC cost of mining is excluded from the day income, so it',s clear income AFTER maintenance toverfee, not before spil you see te HashFlare panel.
- LTC is automatically converted to BTC, so ter table there is BTC values te LTC columns.
- All contracts are for 1 year long.
- BTC &, LTC contracts have maintenance fees, ETH, ZEC and DASH – no extra fees.
- For BTC &, LTC contracts if profit became less than maintenance toverfee, HashFlare guaranty to work 21 days before close them. Maintenance fees (te %) are fairly low now, because BTC price is high.
- Profitability ter my table is counted like (income – invested)/invested
- Forecast doesn',t count enlargening mining difficulty (and switching of block prize te some cases) overheen time, so on long period income te coins will be smaller than forecasted, may be everzwijn much smaller!
- Price of coins is volatile, none can grant that it will proceed to grow up, not down, so it',s risky investment!
- But everzwijn if price will druppel, this doesn',t mean it won',t raise again, ussually much fatter than wasgoed before – so patience is your weapon!
- Crypto-currencies are volatile investments, so don',t invest more than you are ready to lost ter worst case.
- Price and profitability for different coins can switch overheen time, so it’s clever idea to diversify your investments into different coins contracts.