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How to mine bitcoins in India? Is bitcoin legal in India?

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How to mine Bitcoins in India?Is bitcoin mining legal in India?

Bitcoin has gained a lot of popularity nowadays, everyone is talking about bitcoins.All this attention is especially because it’s price has gone through the roof!  Though there are still a lot of people who are unaware of cryptocurrencies, and how they work.

What is Bitcoin?

Bitcoin is a cryptocurrency and a payment system worldwide.It is the first decentralized digital currency, as the system works without a central bank or single administrator.It was invented by Satoshi Nakamoto in 2009.It is an open source software. This means, that no person, company or country owns this network just like no one owns the Internet.

The system is peer-to-peer, that is, users can transact directly without an intermediary like a bank, a credit card company.Transactions are verified by network nodes and recorded in a public distributed ledger called the blockchain.

What is Bitcoin mining?

Just like anyone can join the Internet, anyone can help to verify and record payments into the blockchain. This process is called mining.In mining, users offer their computing power.Miners are rewarded with newly created bitcoins and transaction fees.

Currently, miners receive 12.5 bitcoins every 10 minutes. This halves every 4 years. The next halving will happen in mid-2020.

How to mine Bitcoins in India?

Now the question is, how you can mine bitcoins in India? There are mainly two ways by which you can mine bitcoins-

1.MINING BY OWN HARDWARE

How to mine Bitcoins in India?Is bitcoin mining legal in India?

Credit:ebay.ca

Bitcoin mining can be done by a personal computer, tweaked a bit especially for cryptocurrency mining.It requires basic software and some specialized hardware.

When mining began, regular PCs were fast enough to generate bitcoins. That’s the way the system was set up and it was easier to mine in the beginning.It becomes harder to mine as more bitcoins are generated. Over the last few years, miners have had to move on to faster hardware in order to keep generating new bitcoins.

It was found that graphics cards were more efficient in executing these tasks than the conventional CPU processors.So that multiple GPUs are assembled together are used to mine.

New faster hardware is being created by various mining start-ups at a rapid rate dedicated to mining only and with a price tag of full mining rig starting with approx $3000.

The software required to mine is very straightforward and easy to use and is open source, meaning free to download and run.

A miner needs a bitcoin wallet which is an encrypted online bank account. The problem is, as in most bitcoin scenarios is that, a lot of wallets are unregulated and are more prone to attacks.Late last year, hackers stole some $1.2 million worth of the currency from the site Inputs.io. When bitcoins are lost or stolen they are completely gone, just like cash. With no central bank backing your bitcoins, there is no possible way to reimburse your losses.

The second piece of software needed for Bitcoin mining is the mining software itself.One of the most popular software available is GUIMiner.When launched, you don’t need to do anything the program begins to mine on its own and it looks for the magic combination that will open that padlock to the block of transactions. The program keeps running and the faster and more powerful a miner’s PC is, the faster the miner will start generating bitcoins and start getting back their investment made for the hardware.

2.CLOUD MINING

How to mine Bitcoins in India?Is bitcoin mining legal in India?

Credit:bitcoin.com

If you don’t want to buy all these expensive hardware and worry about setting it up and all, then cloud mining for you.It is gaining a lot of popularity nowadays as it is a great option for mining.

Some companies like Hashflare, Genesis and Bitconnect have set up so-called farms to collectively mine cryptocurrencies for individuals unable to assemble their own machines, for a fee.Individuals can now spend as low as $2 to start mining, and these companies assure fixed returns every month which makes it a great option.

Is Bitcoin legal in India?

Even as economies like Japan and Russia move to legalize the use of Bitcoins, India, despite being at the cusp of a digital revolution is yet to officially recognize the cryptocurrency.
As per now, we can say that Bitcoin is neither legal nor illegal in India.

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Business

Jio Fiber :100 MBPS Ultra High speed internet in India ! Everything you need to know.

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Jio has been taking over the responsibility of revolutionalizing the Indian internet market for last 2 years and till now they have been extremely successful in doing so, the company introduced themselves well in the Indian networking market when they launched their Jio sim cards which provided free 4G internet for 1 year with free calls and messages, this scheme caused a vast scale impact as everyone could now use high-speed internet without giving a penny ! By doing so Jio Placed themselves in the Networking market at a high position and caused terrible loss to their rivals like Idea, Vodafone, Tata Docomo and Airtel.But Jio didn’t stop here after attacking the Networking market, they’re planned to go for the Home Broadband Market, now this is tough as Home Broadband has a lot of difficulties like they should be well established locally, provide better scheme so as to attract customers. detaching the people from their existing home broadband is another issue.So as always Jio came up with a revolutionalizing concept of using optical fiber in-home broadband by doing so they are well above their competitors as very very few Home Broadband providers use Optical Fiber.

So what is Optical Fiber?

an Optical fiber is a thin flexible fiber with a glass core through which light signals can be sent with very little loss of strength.This means the transfer of data with the use of this fiber can be done if the speed of light and thus this help provide Ultra Highspeed internet up to 100-200 Megabytes per second. the first use of Optical fiber in the home Broadband market was done by Google in Kansas City in the USA on the year 2011 by now Google Fiber had well established in other parts of the US. The same picture is seen here in India from the year 2016 when Jio fiber started their beta versions in south Bombay.

Jio fiber scheme and installation charges.

Jio fiber is currently under beta phase which means it is not commercially launched yet. it is currently available in few parts of India and mostly in South Bombay and some Suburbans of Mumbai.

The scheme goes as this “100 GB DATA  of  100 MBPS for per month,if 100 GB data is over before 1 month then 1 MBPS speed with unlimited data but if you want more 100 GB data you can do a FREE RECHARGE at jio.com also you can do this recharge for over 10 TIMES A MONTH! that means 1000GB DATA of 100 MBPS ! and do you know what is the best part this scheme is absolutely free for first 3 months ! you just have to do a security deposit of  3,400 rupees which is refundable if you like to discountinue the service.” well isnt is this great and mouthwatering for a guy who wants to use ultra high-speed internet in the house . 

now about the installation charges, the Jio engineers will come to your house for setup and installation, with the optical fiber is a very thin white colored cable which has a glass-like thread size fiber in it also an important thing to note is that the wifi router will be provided by Jio itself and your old router will be removed as only jio routers are capable of  handling optical fiber signals .  the installation is FREE but might take a bit of time as it is a lengthy process and involves a lot of things.

The good, The bad, The ugly

the good thing is of course very obvious that you can now enjoy highspeed internet without any loading time, the youtube videos load flawlessly and now you can enjoy 4k videos too. downloading files and videos is a matter of few seconds and not at all time-consuming. the service and technical support is extremely good ! my experience with them has been excellent, when I called the service center after my router stopped working properly , they were quick in response and tried their best to resolve the issue by instructing me over phone but when the problem was unable to be solved, they sent their technicians within 1 hour and they did a good job of fixing it, without charging me any money .

the bad thing is if you are a heavy online gamer it might cause a problem as the wifi router they provide heats up quick if you play online games too much , I once tried the limit of the router by playing Counter-strike : global offensive  for 5 hours straight and well it was not a good result as after 2-3 hours the router was so heated up and started giving a loss of 40% in the game, but after I restarted the router after 10-20 mins it was working fine.

another minor problem I faced was the range of wifi the router provided, yes the range is quite less, my whole apartment is not able to get the connection as some spaces are left out, this was eventually overcome by using boosters.

as you can see the all the problems I faced was due to the router and not Jio network. but I think Jio will improve it as the progress.

the ugly part of Jio fiber is that after 2  months of use it is not giving me 100 MBPS as promised now it comes up to 35- 40 MBPS which is way below their specified number.  in overall, after using Jio fiber for 7 months I will rate them as follows

Netspeed – 3.5/5

Service-4.4/5

Router-2.8/5

scheme-4.5/5

Quality-3.5/5

Overall-3.74/5

 

 

 

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Business

A crossover SUV the Lamborghini Urus

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Lamborghini Urus 2018 stuffboxnews.com

A crossover SUV the Lamborghini Urus

A luxury SUV from Lamborghini.
Lamborghini has unveiled a new hybrid Cross over in it’s SUV range called the Lamborghini Urus. The concept car Urus was revealed in the 2015, so most of the SUV fans knew that something good can be expected from Lamborghini. There seems to be a limited appeal for the the Lamborghini Aventador and the huracan. Lamborghini was able to sell only 188 cars in the world’s largest car market, China compared with 303 in UK, a market that’s 90 percent smaller.

lamborghini urus stuffboxnews.com
The Italian performance car maker shared some specifications of the car with a series of pictures and videos. The company says that the urus design will be pure Lamborghini and that it’s look will be evolved considerably since the concept reveal in 2015.
The Lamborghini urus will the first SUV to be sold by Lamborghini. It has introduced the prototype 5 years ago. The Lamborghini officials have said that they have estimated to sell 4000 performance Cross-over per year, which will give a rise to their sales to more than double. They also hinted about a battery powered vehicle which they are going to offer.

The fastest SUV

It is the brands first plugin hybrid with a horse power of 650 hp and a torque of 850 Nm. The Urus will also get a 4.0 liter twin turbo charged, V8 variant. It can go from 0-60 mph in just 3.6 seconds. The company has released videos to show the Urus dynamic abilities. It has a four wheel steering system like the Aventador’s and a traction control system with six different settings according to terrain such as road , sport , sand , dirt , snow ,track.

Production

Lamborghini will release the car in India in 2018. Lamborghini is very quick to launch it’s cars in India. It will come with a heavy price tag of around 3-5 crores, depending on the type of customization you want. Visit their official website Lamborghini Urus.

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