Mining Crypto Currencies: A Dimers Collective
Hey everyone!
I have created this thread as a placeholder for discussion related to mining crypto currencies. Let’s get together, share our findings, and learn from each other.
I will update the Deal Wiki of this thread from time to time depending on the information shared in the thread.
Deal Wiki
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Last updated by: DealSeeker
Note 1: If you don’t know what crypto currencies are or how to mine them then this thread is probably not for you. But you are still invited to read the discussion first and then ask any questions.
Note 2: Please do not discuss trading or price speculations in this thread.
Note 3: As should be evident from the above, the goal is to keep this thread focused on mining. Let’s keep the thread clean and focused on things related only to mining. No buying or selling questions would be entertained. There are already enough India specific guides available for that just a Google search away. http://lmgtfy.com/?q=how+to+buy+bitcoins+in...ia
Discussion Topic for June 26, 2017: As you all must be aware, the GPU mining boom has resulted in supply issues for the graphics cards popular in the mining crowd (RX400 / RX500, etc.). So let’s start with discussing what GPUs you are presently using and what your next upgrade is going to be.
Discussion summary as on 27-06-2017 2:30 PM:
(1) User Movieseeker mentioned that he has been able to profitably mine ETH and Zcash using his RX480 GPU. He hasn’t provided exact figures about his earnings per hour but he has been able to get around Rs. 2000 by mining part-time over a period of 20 days. https://www.desidime.com/forums/dost-and-dimes/...
(2) Cloud mining is generally discouraged as there are a lot of scams. So don’t get involved in cloud mining unless you know exactly what you are doing.
Discussion Topic for June 27, 2017: With the increasing DAG file size for Ethereum, the low-to-mid memory graphics cards (4 GB – 6 GB) are going to be severely impacted in terms of the hash rate. So what’s you plan to tackle this issue? Are you going to switch to other crypto currencies or do you plan to upgrade your GPU? Also, have you done some emulated benchmarks personally to evaluate the performance degradation on your specific GPU? Please share.
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99.9999999% cloud mining ventures are scam
I don’t want this thread to be plagued by such low quality posts
And even the remaining .0001% are very uncertain and there is no guarantee if you will ever break even or not
To be put simply why will some mine bitcoins for you instead of mining it himself if he has the hashrate
Asic mining is impossible for individuals to pursue on their own
China is already way ahead with access to unlimited subsidized electricity
Thought of building a 6 or 7 gpu mining rig consisting of rx470s but they are heavily overpriced thanks to the recent boom, coupled along with frequent electricity cuts and high electricity charges i gave up on the idea soon enough and just bought eth and antshares from that money and would Hodl them forever
And future is insecure , what if the mining difficulty goes up? Rates fall?
I will have to mine for at least an year to break even
although the idea of setting up machines that after the initial investment would mine on itself for me without moving a finger seems fascinating, I don’t like to work want to reach fi/re as soon as possible 
@DealSeeker Is there any source which can explain cryptocurrencies and mining in layman’s terms?
I found an interesting reddit thread about bitcoin milllionaire
https://www.reddit.com/r/IAmA/comments/6iw0b6/i...
The books titled “Digital Gold” and “bitcoin for the befuddled” are an amazing read for a begineer who wants to learn about bitcoin and block chain in general
And after this read " mastering bitcoin" by Andreas
And follow popular sub reddits on reddit and bitcointalk.org
is this upcoming intel i9 processor improve mining a lot ?
processors are not good for mining..
gfx card can do the job
Better is we make own assembled miner
Could mining doesn’t looks great to me
If someone wants to start mining From a scratch Download Minergate software and start mining Ethereum
Its not worth mining bitcoins now,if you have a good gaming rig go ahead with mining but cost of buying a one or two graphic card + electricity cost > bitcoins mined.
Earned 2k with my Rx 480 in 20 days just mine part time when pc isn’t using the GPU
anybody using ASIC for minning ? i think Litecoin is better than bitcoin
@runjesh @desibuddy This thread isn’t about mining BTC or LTC alone. There are other currencies with much higher potential like ETH. And such currencies don’t even require ASIC or CPU intensive mining. GPUs are yielding excellent performance for Ethereum, Zcash, and some other proof of work (PoW) algorithm based coins. CC @noobminer
Yea there are too many crypto currencies now I tried Zcash but it was take 1mbps net when mining and gives 4$ /day, where as nicehash mines ETH and payout on btc works even on 2g and gives 3.56$/day
Excellent thread. Keep it up!
Hey Guys how do I buy Eth with no knowledge of crypto currencies. Is it even possible to buy Eth in India without owning any other coins
Btcx India but they take forever to process’s your kyc verification
Best option would be to buy btc from zebpay/unocoin/coinsecure etc and get them exchanged on any international exchanges
I want to invest some money in Bitcoins however I am not sure if it is still legal in India. Can some one pls guide me? Thanks
Really? Right after I discouraged someone from asking this type of questions in this mining thread?!
As for the legality, it’s neither illegal nor regulated. There is a government committee investigating crypto currencies. They are expected to release their report by the end of July.
can anyone explain me this in simple/lucid language?
Then tell us how to mine these crypto currencies?
That wasn’t the intention of this thread, bro. Perhaps I should have used stronger language to discourage newbie questions. So accept my apologies. Here is a “let me Google that for you” link to get you started on the right path. http://lmgtfy.com/?q=how+to+mine+cryptocu...cy
I created this thread for existing miners (or for those who have the motivation and DIY attitude to research and become a miner) to share and discuss their findings.
Discussion for yesterday has been summarized and a new discussion topic for today has been added in the Deal Wiki. Please share, learn, and explore.
Are any of you on CEX & registered your card? Do Indian cards work there?
@MovieSeeker @hitmanranger Please do look at the discussion topic posted for yesterday in the Deal Wiki. Would like to hear your perspectives.
Good info and clear topic discussions instructions.
Regarding how much I earned
I get 10₹/hr I only do it when I am surfing/YouTube for first 10 days after that I saw Indian sellers buying Btc for almost 2L so I started mining at night while I put downloads for games and movies,I will put mining from 12am-6am and turn on automatic pc shut down when I come back pc would have downloaded 5-8gb files+1$ mined so in total of 20 days I earned 0.012 Btc got payout from nice hash on Tuesday and sold it for cash
I also learnt that installing custom bios on GPU will increase mining to 29 hashrate with my Rx480 currently I get 23-25Hashrate heard that it impacts the life time of GPU by a large margin so I didn’t do it.
Personal thoughts GPU lifetime on stock bios with mining it does take a hit on long run usually GPU will last 3-5 yrs now it will be reduced to 2-4
any source to earn on android??
You mean mine on Android 
anybody own antminer or asic, or any made in india ASIC ?
Started using Excavator GPU miner (by Nicehash
getting around 265-270 sol/s with slight modifications via After Burner
Initially was getting 255-260 Sol/s on default settings with a 68-72c GPU temperature consuming 110-115W power
Reduced power limit to 70%, bumped up core clock to +100 and memory clock to +700
Now GPU is at 57-60c and consuming 80-83W power
My knowledge regarding mining is restricted to 24hrs so I could be wrong about couple of things
great sir!
Great Video for people who don’t know about Crytocurrency
Here is the WhatsApp chat @MovieSeeker and I had about this. I would like to know what you guys think. @DealSeeker @desibuddy @hitmanranger @getready @noobminer
MovieSeeker: "Video" Bitcoin(Cryptos) vs. Normal Currency | Things Are About to Change!
Socrates: The ways of living and operating in this world are getting more and more specialised. I don’t think that’s good.
Hacking is not the only problem with digital systems. There are many other issues like energy resources (to develop and maintain such systems), lack of specialised knowledge in handling them among the majority and so on.
The industrial revolution gave humanity much hope but look at where we are today. We are not supposed to manipulate the laws of nature beyond a point which we can control. It’s already proven disastrous. When will we learn?
MovieSeeker: we learn from our mistakes so there is no way stopping mistakes from happening
Socrates: The question is: Do we really learn from our mistakes?
MovieSeeker: we do
but change doesn’t come within a day sadly
Socrates: May be that’s the biggest mistake we are doing – thinking that we learn from our mistakes when we actually do not.
MovieSeeker: See another mistake.
and when I said I don’t trust cryptocurrencies is because -
It is still to do difficult for a common man to understand and is far from common adoption. Most of the transactions are for illegitimate darknet transactions or ransomware , money laundering or trading . No mainstream actual world usage. If governments want to , it can shut the entire bitcoin market [ don’t believe the fanboys , the government can do anything it wants to , if you are alphabay and hansa market , the most prominent darknet silk road markets were shut down recently]
and very prone to attacks , even after 8-9 years since its inception I see a lot of exchanges getting hacked too often
Indian BTC seller are buying BTC for 2L60K /BTC
I was wondering how come my earnings increased overnight
So this is the reason
Anyone aware of any ERC-20 compatible wallet in India?
I am looking to invest in an ICO, but not able to find any ETH compatible wallet for investing.
interesting post https://www.reddit.com/r/Bitcoin/comments/6zshl...
Hi @DealSeeker @MovieSeeker interesting thread, thanks for contributing. How I repent not buying BTC in the years past. They’ve now been priced out of a meager salaried servant like me. I read up a bit after chancing on this thread. Why don’t you restart the discussion, the thread has been quiet for a while. How much do you guys hold, and what sort of spread across various currencies? What’s the outlook on ETH, I’m tempted to buy one (going rate seems to be 20k) but as a guy perennially short of funds, even that might be a giant leap
even more highr nw
hope u had bought some 
BTC 6000$+ now ,will peak at 6500USD before the Fork
interesting post https://www.bloomberg.com/view/articles/2017-10...
Mine Bitcoin without dedicated hardware – There’s another way to mine bitcoins which doesn’t involve any specific hardware requirements. The process is called Cloud Mining, which is perhaps the simplest way to mine bitcoins.
Cloud mining is an online process of producing or mining a particular type of cryptocurrency regardless of any sophisticated hardware requirements. All those who mine through a cloud have a direct access to a remote data centre with shared processing power. So in this way, the cloud miners don’t need to have their own hardware. All they need is a computer with internet connectivity along with a local bitcoin wallet of their own.
It is very easy to get started with cloud mining and anyone can do that. You just need to register on a cloud mining website. Do good research before choosing a cloud mining website.