What is the status of Bitcoin or other cryptocurrency mining in India?

Fellow Indian and also foreign brothers and sister,
I am looking for some legit answers regarding crypto mining in India. I have read that the Indian government has banned or restricted the imports of ASIC miners. I am going to check the specifics with the DGFT, India. India is also on the verge of closing all the gates to cryptocurrency, call it insecurity or motive to run commercially established banks with crores of investment.
I am highly motivated to start crypto mining but these legalities are causing some hiccups in the process.
I don’t want to break any law of the land called India but still work with cryptocurrency like Bitcoin,Erethreum, Dogecoin, Monero,etc.
Your input will be highly appreciated. I anticipate a good amount of advises from both fellow Indian and foreign miners alike.

mining hardware – Can I mine Dogecoin using an old laptop with 2GB RAM

Your privacy

By clicking “Accept all cookies”, you agree Stack Exchange can store cookies on your device and disclose information in accordance with our Cookie Policy.

mining pools – Who enforces new consensus rules in Bitcoin?

I have been reading at few places that miners will enforce new consensus rules. Examples:



04:20 < AaronvanW> aj: I think “my” type of futures market could be combined with “your” type of futures market? My futures market would inform miners if the market wants them to activate or not, your futures market would inform them (post-activation) if they should enforce or not. I think the second futures market (enforce or not) would be kinda pointless in this context, since the market already told miners to activate (among other reasons), but hey if people want to bet on that they can. (And I think this should address Matt’s point/concern.)

04:32 < AaronvanW> the second futures market would have an asymmetric advantage in favor of enforcing, but I’d say that’s a good thing. (again, I think this futures market would be kinda pointless… just addressing concerns here.)


According to my understanding:

  1. Devs code implementation for a BIP, followed by reviews and discussions

  2. MASF: Miners are asked to signal readiness, new consensus rules are activated if most miners are ready in time. Blocks that do not follow new consensus rules after activation are rejected by full nodes.

  3. UASF: Miners are informed about a deadline, new consensus rules are activated irrespective of miners readiness if enough miners fail to signal before deadline. Blocks that don’t follow new consensus rules after activation are rejected by full nodes. (In BIP 148 blocks are rejected that do not signal and BIP 8 has a MUST_SIGNAL phase and lockinontimeout)

In both cases, rules are ‘enforced‘ by full nodes.

Are miners “following” the new consensus rules after activation that they agreed to activate and signaled readiness or miners are “enforcing” new consensus rules? If they are enforcing new consensus rules, what is the role of full nodes? And if miners enforce new consensus rules can we consider miners signaling as voting?

❕NEWS – CleanSpark bought 23,000 Bitcoin mining devices | NewProxyLists

CleanSpark, a US-based software-technology company traded on the Nasdaq stock exchange, has made a major mining investment. In the press release made by the company, it was reported that 22,680 devices were purchased.
What do you think about the increasing mining investment of companies?

mining theory – Is it possible that two miners mine blocks with different headers because they include different transactions

Yes, different miners will almost certainly always search for different nonces. Besides including different transactions from the network, they will also almost certainly send the proceeds from the coinbase transaction to different accounts. There are many other places where the block can also be different.

❕NEWS – Will Bitcoin Mining Be Affected As China Try To Stop Energy-Consuming Projects? | NewProxyLists

The Chinese administration is expected to ban projects that consume large amounts of energy to reduce their carbon footprint and emissions. Chinese journalist Colin Wu, who has studied all developments regarding coins, reported that some measures that the Chinese government will soon start to implement could put Bitcoin miners in a difficult situation.
What do you think Chinese miners can do to continue their activities?

chainanalysis – Can stolen or otherwise tainted coins be laundered through mining fees?

Do chain analysis techniques consider the fee portion of block rewards as tainted funds?

e.g. if known stolen funds are moved in a certain block, the fees the sender pays end up “polluting” the block reward. I want to know how much weight this taint actually gets when it comes to chain analysis. Would the largest exchanges accept these coins as deposits?

If so, then a thief could launder the funds by colluding with a miner. e.g. do a self transfer that pays 10% in fees; don’t broadcast the tx, just pass it to the colluding miner who mines it and later returns a portion of the fees to the thief out of the block reward.

If not, then a thief could taint every block’s reward by simply self transferring a minimal amount with sufficient fees for next block. Then none of the blocks rewards can be deposited in any heavily regulated exchange. I guess miners could censor those txs if the thief’s UTXOs are well known, but it’s still an attack vector I guess.

block – Is my Bitcoin address valid for mining?

I am looking at the specific block at height 680175.

When comparing the address which received the block reward

# bitcoin-cli validateaddress 1KFHE7w8BhaENAswwryaoccDb6qcT6DbYY
  "isvalid": true,
  "address": "1KFHE7w8BhaENAswwryaoccDb6qcT6DbYY",
  "scriptPubKey": "76a914c825a1ecf2a6830c4401620c3a16f1995057c2ab88ac",
  "isscript": false,
  "iswitness": false

to my newly generated address

# bitcoin-cli validateaddress bc1q403w7zrj74azzunk89srt2m3vuajatlmskcktm
  "isvalid": true,
  "address": "bc1q403w7zrj74azzunk89srt2m3vuajatlmskcktm",
  "scriptPubKey": "0014abe2ef0872f57a217276396035ab71673b2eaffb",
  "isscript": false,
  "iswitness": true,
  "witness_version": 0,
  "witness_program": "abe2ef0872f57a217276396035ab71673b2eaffb"

there are some differences in the scriptPubKey and the witness program. Are these differences relevant for mining?

The inferred PubKey hash of the miner address is c825a1ecf2a6830c4401620c3a16f1995057c2ab. Would my PubKey hash be abe2ef0872f57a217276396035ab71673b2eaffb?

cryptography – Start mining with 2GPUs vs Re-selling for profit

I currently own a rtx 3060ti and 3070 (bought them at 503usd and 657usd on january 2021) I wanted to ask if I should start mining ethereum with these two rigs or should I just re-sell them right now. If I start mining, I already have:
CPU: i5-10400f x2
PSU: Thermaltake 750W (80+ Gold) / Corsair 650W (80+ Bronze)
Motherboard: Asrock b460 phantom gaming 4 / Asrock b460 pro 4
RAM: Corsair Vengeance DDR4 (8GBx2) / Gskill DDR4 16GB/3200 sniper x
SSD: Corsair M.2 PCIe 480GB
Since I have two gaming computers, I want to use the components from one of them to create a 2GPU rig. I’m planning to buy a cheap GPU to replace my current PC since I rarely game nowadays. The extra costs are the GPU risers and frame which are cheap.

blockchain – How do nodes contribute to security when the power comes from mining and what is the chain of transaction validation?

Blockchain security comes from the decentralisation of hashing power by miners. They append transactions to a block, perform PoW and add them to the blockchain when that validate blocks. How do nodes contribute to this? Doesn’t all the validation power come from the longest chain, which is decided by miners. And how do miners detect an invalid block that has been added to the blockchain?

When transactions are broadcasted, I though that public key cryptography is used to verify the transaction. At what level does this happen? Do nodes do this, and if so, is it every single node? When a block is added, do miners perform steps on the block to make sure they are legit. And what does an illegitimate transaction look like?