Want to enter in mining business | Bitcointalksearch.org

sumantso

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Quote from: Pinwheel on October 20, 2013, 04:36:09 AM

Quote from: sumantso on October 20, 2013, 03:40:06 AM

Quote from: Pinwheel on October 12, 2013, 08:35:29 AM

it is always an option, you can buy bitcoins and start trading. Sure some money can be made in trading. Some reliable trading bots now available for btc-e. I personally almost never stopped trading, once some amount mined I'm putting it into trading.

Mining and trading do not contradict each other, but rather complement.

Its not about trading. The way ASICs are going, its better to spend money to buy the bitcoins rather than buy mining equipment and electricity to mine them.

People, who mined for some time usually buy equipment for mined coins. It is different, you investing nothing, but electricity cost. For those who want to enter mining better would be to buy bictoins and instead of just holding it, start trading. This summer people was making usd20K per month just buy trading on btc-e. If you holding bitcoins you gain only when bitcoins rate are going up. If you trading, you can make even more when bitcoins rate going down.

Fully agree with you. The OP though is entering the mining business, so IMO it doesn't make much sense to buy up equipment and start off.

Pinwheel

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Quote from: sumantso on October 20, 2013, 03:40:06 AM

Quote from: Pinwheel on October 12, 2013, 08:35:29 AM

it is always an option, you can buy bitcoins and start trading. Sure some money can be made in trading. Some reliable trading bots now available for btc-e. I personally almost never stopped trading, once some amount mined I'm putting it into trading.

Mining and trading do not contradict each other, but rather complement.

Its not about trading. The way ASICs are going, its better to spend money to buy the bitcoins rather than buy mining equipment and electricity to mine them.

People, who mined for some time usually buy equipment for mined coins. It is different, you investing nothing, but electricity cost. For those who want to enter mining better would be to buy bictoins and instead of just holding it, start trading. This summer people was making usd20K per month just buy trading on btc-e. If you holding bitcoins you gain only when bitcoins rate are going up. If you trading, you can make even more when bitcoins rate going down.

sumantso

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Quote from: Pinwheel on October 12, 2013, 08:35:29 AM

it is always an option, you can buy bitcoins and start trading. Sure some money can be made in trading. Some reliable trading bots now available for btc-e. I personally almost never stopped trading, once some amount mined I'm putting it into trading.

Mining and trading do not contradict each other, but rather complement.

Its not about trading. The way ASICs are going, its better to spend money to buy the bitcoins rather than buy mining equipment and electricity to mine them.

Eternity

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Never knew that thanks for the info

Pinwheel

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Quote from: coldbreeze16 on October 12, 2013, 03:33:39 PM

Besides all SHA altcoins are less profitable than btc, true ZET and TRC sometimes rise up, but rare.

I no see any alt coins going be in serious alternative to bitcoin, in a years... , but there is opportunities which are not presented in bicoins cause bitcoins too mature now, and cant be exploited such easily as alts can be. In that sense reliability and stability are rather negative.

Mental thing, like miner always bullish, they want to see their coin going up. But money can be made on the way down too, so what a hell why not.

Pinwheel

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Quote from: Eternity on October 13, 2013, 02:19:01 AM

You can mine litecoins they move up and down related to others

ASICs want mine lite, there is different encryption algorithm. So far only GPU been used to mine lite.

Eternity

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You can mine litecoins they move up and down related to others

coldbreeze16

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Quote from: Pinwheel on October 12, 2013, 08:10:36 AM

Quote from: coldbreeze16 on October 10, 2013, 08:47:00 AM

No risks unlike these specialized ASIC miners for which you might not find a taker when 2TH/s machines hit the market.

you can keep mining with ASICs for some time, there is also some alt coins which may worth mining. Thing is that manufacturers of 2TH/s machines is biggest risk takers at the moment. Most of them will go belly-up. Or just stop making 2TH/s machines, which no body buys. it may change and mining can get new spin in case of USA default, bitcoins price can go on new heights and when most 2TH/s machines sold for USD, cost of it may be quite affordable for those who mining.

I would say it is better to mine then not. When there is no way out there is always the way further in.

You're comparing yourself to others buddy, yours is a full time profession. You already have over a Th hashing, so it's simple: those big investors who have invested big well push further...well be worth in the long run...But us small time miners have no profit here where negative ROI is almost guaranteed. Besides all SHA altcoins are less profitable than btc, true ZET and TRC sometimes rise up, but rare.

Pinwheel

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it is always an option, you can buy bitcoins and start trading. Sure some money can be made in trading. Some reliable trading bots now available for btc-e. I personally almost never stopped trading, once some amount mined I'm putting it into trading.

Mining and trading do not contradict each other, but rather complement.

cowandtea

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Quote from: mudassiransi on October 10, 2013, 12:32:00 AM

Hi,
I want to enter in mining , the main things I want to know are

What is my earning daily if I use 20gh/s blade ( I have used the mining calculators online but I can't understand those) ?

From where I should buy the mining blade ( Want face to face deal ) ?

Is the earnings from mining changes daily ?

Can we withdraw any amount from bitcoins to Indian Rupee ?

Sorry to say but you wont ROI, just don't buy it and buy Bitcoin instead.

Pinwheel

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Quote from: coldbreeze16 on October 10, 2013, 08:47:00 AM

No risks unlike these specialized ASIC miners for which you might not find a taker when 2TH/s machines hit the market.

you can keep mining with ASICs for some time, there is also some alt coins which may worth mining. Thing is that manufacturers of 2TH/s machines is biggest risk takers at the moment. Most of them will go belly-up. Or just stop making 2TH/s machines, which no body buys. it may change and mining can get new spin in case of USA default, bitcoins price can go on new heights and when most 2TH/s machines sold for USD, cost of it may be quite affordable for those who mining.

I would say it is better to mine then not. When there is no way out there is always the way further in.

oneidentity

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Check PM

Eternity

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Benson

Sure why not

coldbreeze16

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Quote from: mudassiransi on October 10, 2013, 12:32:00 AM

Hi,
I want to enter in mining , the main things I want to know are

What is my earning daily if I use 20gh/s blade ( I have used the mining calculators online but I can't understand those) ?

From where I should buy the mining blade ( Want face to face deal ) ?

Is the earnings from mining changes daily ?

Can we withdraw any amount from bitcoins to Indian Rupee ?

First I don't want to dissuade you but the ground reality is mining isn't that lucrative. A 70% ROI in 2-3 months still means -ve ROI with difficulty at 190 million.
And ASICMiner's (manufacturer of blades and block erupters) cost to performance ratio is very bad. There are other manufacturers out there. And blades come in 10.7 Gh/s, not 20 GH/s. At the current 190 mil diff 10 Gh will make you 0.027BTC per day provided the luck is good and there're no power or network disruptions.

A blade will set you back by at least 3 BTC (though it'd fall soon) with shipping and you also have to buy a PSU too. You're thinking about ~28K Rupees for 10Gh/s. To break even with the riding difficulty? I don't think so. I can instead buy 2 second hand HD 7950 for ~28-29K and assemble a PC for 13-14K extra and mine scrypt coins. 2X 7950 will net you about 0.025 btc per day. And you can ALWAYS sell the cards and PC at (Almost) the price you bought it for. No risks unlike these specialized ASIC miners for which you might not find a taker when 2TH/s machines hit the market.

Benson Samuel

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Landscaping Bitcoin for India!

Quote from: Eternity on October 10, 2013, 01:42:56 AM

Check the calculators

http://www.coinwarz.com/cryptocurrency

http://coinchoose.com/

There is reseller for india contact him

You cant withdraw directly have to exchange them and yes that can be done daily

I am trying out a test service, where users can store their mined satoshi's on a coinsecure.in address and then cashout to INR when a certain threshold is met.

If anyone is interested to test it out, I do not mind adding 1 or 2 test accounts. The conversion will happen at buysellbitco.in's rates + 1% and am looking at a minimum exchange limit of 5K INR.

mudassiransi

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thanks to all

Eternity

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Check the calculators

http://www.coinwarz.com/cryptocurrency

http://coinchoose.com/

There is reseller for india contact him

You cant withdraw directly have to exchange them and yes that can be done daily

buysellbitcoin

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https://www.zebpay.com

Our contact numbers are displayed on our web site :
https://buysellbitco.in

+91 81416 27806

Regards

mudassiransi

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Quote from: buysellbitcoin on October 10, 2013, 12:41:17 AM

Quote from: mudassiransi on October 10, 2013, 12:32:00 AM

Hi,
I want to enter in mining , the main things I want to know are

What is my earning daily if I use 20gh/s blade ( I have used the mining calculators online but I can't understand those) ?

From where I should buy the mining blade ( Want face to face deal ) ?

Is the earnings from mining changes daily ?

Can we withdraw any amount from bitcoins to Indian Rupee ?

From where I should buy the mining blade ( Want face to face deal ) ?
- Contact Pinwheel on Indian subforums. He is retailing ASICMINER blades in India. Based in Pune, so depends on you if you want face to face deal. We can vouch for Pinwheel, we have done a lot of business together.

You can see below thread for more information :
https://bitcointalksearch.org/topic/asicminer-devices-now-in-india-277659

Is the earnings from mining changes daily ?
- Well that depends on how lucky you are, what uptime you can ensure

Can we withdraw any amount from bitcoins to Indian Rupee ?
- You can anytime sell your coins on https://buysellbitco.in

Regards

can I talk with you on phone ... please...

buysellbitcoin

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Quote from: mudassiransi on October 10, 2013, 12:32:00 AM

Hi,
I want to enter in mining , the main things I want to know are

What is my earning daily if I use 20gh/s blade ( I have used the mining calculators online but I can't understand those) ?

From where I should buy the mining blade ( Want face to face deal ) ?

Is the earnings from mining changes daily ?

Can we withdraw any amount from bitcoins to Indian Rupee ?

From where I should buy the mining blade ( Want face to face deal ) ?
- Contact Pinwheel on Indian subforums. He is retailing ASICMINER blades in India. Based in Pune, so depends on you if you want face to face deal. We can vouch for Pinwheel, we have done a lot of business together.

You can see below thread for more information :
https://bitcointalksearch.org/topic/asicminer-devices-now-in-india-277659

Is the earnings from mining changes daily ?
- Well that depends on how lucky you are, what uptime you can ensure

Can we withdraw any amount from bitcoins to Indian Rupee ?
- You can anytime sell your coins on https://buysellbitco.in

Regards

Topic: Want to enter in mining business (Read 2809 times)