Topic: Free Electricity for Mining. (Read 1239 times)

If you are really interested in mining then better double your investment and as mentioned above one of the user gave good detail about low end desktop with graphics card and start mining altcoins like ETH, DASH or other good coin and sell it on exchange as they are giving good returns at present and bitcoin price is also good.

I dont think you could be able to setup your hardware in just 10,000 INR.
if you have free electricity, you can use it to the fullest. Purchase some good ASIC miners or some GPU miners and start your earning.
You can earn a lot with ASIC/GPU miners as electricity cost is just 50rs per month.
Increase your investment and start earning some coins.
Feel free to contact if any help needed.

i'm interested in both trading and mining BTC and alt coins but due to lack of finance i'm not able to set my own mining rig.

Whats your plan? Are you planning to mine any btc in coming time or only buy/sell altcoin i.e trading? Are you also planning to mine any altcoin ? i see there are couple of such threads here who are interested to mine so you all can come together and do mining .

Thanks a lot for filling me up with these information.

I would suggest that you do your own research because for example I might suggest a coin say ZEC, and you invest your money in it, and if it increases in value then its good, cheers all around but if it crashes who will be have the hard time? I might have sold it or I might not have made any investment in it, so there is zero risk in this but for you, your entire capital is at stake. so do your research.

There are couple of questions that I ask before I will invest my money, they are

1. Who are the people developing the coin? What are their previous positions and what are their achievements?
2. What is the purpose of the coin? What makes it different? Is there no other coin that can offer the same function?
3. Was there any instamine/premine/ICO?
4. Was the coin being actively developed/promoted?
5. How volatile is its price? How big the pump and dump cycle is?
6. What is the general opinion about that coin? What do outsides think about it?

like I said above, do your search, no one other than you stands to loose anything here, its your money.

Hope this helps.

Regards,
BLife

Thanks a lot for your reply. Can you help me by suggesting which coins should I buy for good returns

Hi,
 If I were you this is how I would do it.

First option : Buy some coins and hold, and sell it when it does nice returns like 100x or 50x based on potential

Second Option : Build a low end one GPU system as below.

CPU                 : Second hand Celeron G460                                                           Rs 1,849
RAM                 : 2GB DDR3 Ram                                                                              Rs 769
Mother Board  : Gigabyte GA-H61M-S2P-Rev2.0 LGA 1155 Socket Motherboard   Rs 2000
GPU                 : nVidia GTX 750Ti                                                                            Rs 8000
HDD                 : Sandisk 16GB Cruzer Blade Pendrive                                            Rs. 315
Power Supply   : Corsair VS Series VS450                                                                Rs 2759
-------------------------------------------------------------------------------------------------------------------
Total                                                                                                                          Rs 15,692

I know its around 6,000 more but I dont think you can do it for any less.

 This will not return much but with free electricity you will be making around $1.26 per day thats around Rs 80. In about 6 months you will get back your  money and will start making profit.

Hope this gives you some idea.

Regards,
BLife

Links to stuff, I found the values from ebay.
Power Supply  http://www.ebay.in/itm/Corsair-VS-Series-VS450-450-Watt-ATX-Gaming-Power-Supply-PSU-SMPS-/191881685665?hash=item2cad0a2aa1:g:iuQAAOSw-0xYNrcF
Sandisk http://www.ebay.in/itm/Sandisk-16GB-Cruzer-Blade-Pendrive-16-GB-5-Yrs-Warnty-FREE-OTG-CONNECTOR-/371724154249?hash=item568c7c7589:g:jvgAAOSw9IpXxqnI
Motherboard http://www.ebay.in/itm/Gigabyte-GA-H61M-S2P-Rev2-0-LGA-1155-Socket-Motherboard-/192175127784?hash=item2cbe87bce8:g:hXEAAOSww3tY3zXo
RAM http://www.ebay.in/itm/2GB-DDR3-RAM-HYNIX-ORIGINAL-BRAND-NEW-SEALED-PACK-3-YEARS-WARRANTY-/232065078471?hash=item36082814c7:g:K9AAAOSwFV9XxX7K
CPU http://www.ebay.in/itm/Intel-Celeron-G460-Processor-CPU-FC-LGA-1155-Socket-Warranty-/112412316581?hash=item1a2c4bd3a5:g:1HgAAOSwx6pYn~Kw

Hi mate.

Welcome to the cryptocurrency world.
Free electricity is great but... I'm sorry but I'll let  you down.

#1 , you said you have 10k Rupees and according to google that's about $155 only ! You can't even get a single gpu for the mining rig with this tiny amount of money.

Look at this list I found on a forum:


So, apparently you need about $1900 to build one complete rig which is about 122k rupees.

PLUS, having a daily power cut time is horrible. 

Hi everyone, I'm Mohsin 18 years old new to these currencies. I want to start mining as here in my city electricity is almost free. We just have to pay 50/ month to the authorities and they let us use it. unlimited. Power cut in my area is 1-3 hours/ day. I just have 10,000 Rs to spend on hardware. Please suggest me something.