Topic: Alt coin mining - All that time and investment worth the pain ? (Read 170 times)

I mine burst coins and admit that i'm not making much. However, it's still profitable considering that I use my PC for work while mining at the same time.

Yeah it is profitable. I am in Mumbai which probably has the highest electricity costs in India. With the right hardware and constant electricity, it is still profitable.
If you are in need of a rig, you can check my website - http://www.cryptominingrig.in/

Guys ! Being in India is it profitable to mine alt coins, considering temperature and the electricity cost ?

The biggest issue you will face is the hardware availability here in India. As you are planning to get around 10 GPUs, if you buy them all from India then expect a minimum price of 30K per card, that is if you go for the AMD ones.
If you go for NVIDIA, then that around 45K per card.

A budget of 4.5 for 10 GPUs should get you the RX 570/ 580 rigs.

About the electricity fluctuations, you'll need a pretty solid stabilizer with almost 3KVA capacity for safe and stable operation. That would set you back by quite a bit.

Even then, its cool that you guys are planning this out. Let us know how it turns out. Good luck and keep learning..

https://www.buriedone.com/images/What-GPU-to-choose.png

1. Power cuts can be a issue because when we mine, we get the reward after completing a block. The less amount of block you mine, the less reward you get. So power cuts can be a disadvantage. But still, winter might be okay for you, but given your summer situation, it can be a big deal.

2. I live in Mumbai and provide rigs to people nearby. And as far as my knowledge goes, the RX 400 series has stopped coming here. Only way here is if someone has very old stock, or if you go for used 400 series.

3. With your budget, their are two ways to go for:

a. Build a high end less quantity build, like 6 * Vega Series, but they are hard to get. Focus on this if you plan to mine Cryptonight's like Monero(XMR) and others.

b. Build a mid end more quantity build, like 8/10/12 (depending on what price you get) RX 570/580. Focus on this if you plan to mine Ethash's like Ethereum(ETH) and others.

NOTE: Ethereum is rumoured to shift to Proof of Stake (Google it). So plan accordingly. But if you still decide to go for it, prefer 8GB Cards for Ethereum mining for future proofing (Because Ethereum DAG file is about to reach 4GB).

Hope this gives some help to you. If anyone thinks I made some mistakes in my points, please correct me. I am no expert in this.

And just for reference, do check my website where I give pricing of rigs in Mumbai. http://www.cryptominingrig.in

Have a nice day.

Me and two friends of mine are thinking about trying to mine.
Can you suggest which coins will be profitable and what setup to go for.

We live in North so temp is around 30 to 45 during summers and from 20 to 5 in winters.

We want to ourselves assemble a rig of 10 GPu like Radeon rx 480 8 gb
Is that good enough or we can get something better ? something economical and profitable.

Our total bud get is around 3.5 to 4.5 lakhs.

There is a voltage issue in our area - I think we can fix that with voltage stabilizers.
Sometimes there is a power cut of 5-6 hours like 1-2 days a month.
In summer it's 4 hour cut everyday. Are power cuts a big issue?

I thought to take some advice from experienced people here as how to proceed with this and is it really worth all the pain.
 

Please don't Pm just reply here with your suggestions. Whatever we buy and decide to go ahead with - I will post pictures here.

Thanks guys!!