Is bitcoin gpu mining profitable business
The lowest electricity tariff in India, which I guess is in Jharkhand, is around Rs. With the power rating of W, in one month we will be using around kWh which amounts to Rs or 0. When more miners keep getting added to the network, the mining difficulty increases as the number of blocks to be solved in a specific interval of time remains constant.
The number of bitcoins generated in 19th month will be 0. The number of bitcoins mined in 19 months will be 1. But as time progresses the profitability is bound to decrease due to the very nature of Bitcoin.
How do the miners solve these advanced mathematical problems? With the use of powerful hardware. You can no longer mine Bitcoins using your normal PC, that runs on a normal C. That are designed for the sole purpose of Bitcoin mining. So Despite being profitable, I tend to stay away from mining because, the initial investment is high.
And it requires a large quantity of continuous electric supply This is a large part of the investment. And it is a very competitive space.
Given the current bleak scenario, the average home miner will struggle to recoup the cost of mining hardware and electricity. Profitability is highly unlikely given the current circumstances. The situation may improve in future once ASIC mining hardware innovation reaches the point of diminishing returns.
That, coupled with cheap, hopefully sustainable power solutions may once again make Bitcoin mining profitable to small individual miners around the world. This would also greatly improve the decentralisation of the Bitcoin network, hardening it against legislative risk.
CoinWarz  offers a good mining profitability calculator, which automatically fills in the current BTC price, difficulty and block reward info. Enter specs and cost, as well as other information such as power cost and pool fees to find your profitability. Do not expect gold, at best the number you get would be a few hundred dollars for a year and the warmth of your mini rig during the cold winters. Some regions of China have very low power costs, further most mining hardware being manufactured in China make it the mecca for hobbyist miners who make a pretty decent profit of a thousand dollars a year.
Footnotes  Cryptocurrency Mining vs. Bitcoin Mining Profitability 5. Besides I also mine bitcoin. Answered Jul 7, Bitcoin mining is mainly being done in China. There are reasons why it is happening so much in China and not in India.
Please see some basic requirements:. Based on above requirements, one can see if it is profitable to carry Bitcoin Mining in India or not. Yes Pool bitcoin mining options are there. It only makes sense to mine it, if you have lots of super powerful computers and cheap electricity. However, you still can invest in bitcoin. Its rate contionues to grow. Here is an article about 7 Reasons to Invest in Bitcoin in If you want to mine, there are a lot of alternative coins, that are possible to mine even on one computer.
Before mining, you should make a small research to calculate if mining on your computer is profitable, to choose best cryptocurrency. There are services, that will help you to do it. For example, What to mine. Recommended All Kostas Tsakaloglou , Have a blog about cryptocurrency: Is Bitcoin mining profitable in India? In or ? Bitcoin mining will be profitable, if the demand grows so it's price will be higher than the operating costs and the cost of the hardware.
I don't know when this will happen. For now, the cost of mining is high because of the energy needed. If you have a place near a waterfall, to get almost free energy, it is already profitable. I am not saying after reading just couple of blogs.
This comes from my own research. But there are several factors you need to consider. Your profit depends on that. If you are smart enough, this is like calculated risk.
I would recommend to be with cloud mining as buying your own hardware will make you out of date before you earn profit. Please be aware that most of the cloud mining are scams. So far, I could trust only 2 of them: Hashflare This one is my personal favorite due to good offers: I have written a blog if you are interested in more details. I share all the useful information which will help you to take the decision.
All you wanted to know about bitcoin mining Thanks3. The beginners first step would be to select a wallet. If you want to earn then there is bitcoin mining which is not at all profitable now and then there is bitcoin cloud mining which payout for real. Heres a video that can help you. An easy way to get started is with your computer. Install the software and log in with your account. It's very easy to use. Originally, Bitcoin mining was conducted on the CPU s of individual computers, with more cores and greater speed resulting in more profitability.
After that, the system became dominated by multi- graphics card systems, then field-programmable gate arrays FPGAs and finally application-specific integrated circuits ASICs , in the attempt to find more hashes with less electrical power usage.
Due to this constant escalation, it has become hard for prospective new miners to start. This adjustable difficulty is an intentional mechanism created to prevent inflation.
To get around that problem, individuals often work in mining pools. Bitcoin generally started with individuals and small organizations mining. At that time, start-up could be enabled by a single high-end gaming system. Now, however, larger mining organizations might spend tens of thousands on one high-performance, specialized computer. In the malware world, one of the more prevalent current threats is mining botnet infections, in which user systems mine for Bitcoin without the owners' knowledge and funds are channeled to the botnet master.
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