What is Bitcoin "Mining"?



The Bitcoin network is a gigantic peer-to-peer ledger of past transactions, all of which need to be verified and confirmed. 



The ever-lasting confirmations require a huge number of hashing power (provided by mining hardware) to solve complicated and random mathematical problems. And to reward people who contribute their hashing power, the Bitcoin network will send out 12.5 bitcoins every 10 minutes. This is how bitcoins are “mined” – a reward mechanism of the network for hashing power contributors.

How Mining Pack refund policy works for/in special case users when then the hash rate decreased by the company Bitcoin India?



If your mining pack status is active then you will received the refund as follow.

The refund will be "total Difference in Value"= Mining Pack Purchase Cost - Total Mining Payouts Received till the refund processing date.



Scenario-1: Get a full refund within 30-days from email notification/press release: The users who has active Bitcoin/Litecoin/Ether/DOGE mining pack subscriptions with Bitcoin India™️ are entitled to get a full refund within 30-days if they wish to cancel their active mining packs subscription and if they have not taken away their mining payouts (if already taken their mining payouts then the amount will be in overdue account or will be deducted from main cash account or respective coin account and also if the referrer hasn't taken away their referral bonus linked to this mining packs, it will be recovered from his referral cash account if not then from his main cash or coin account respectively.

Example one:- Customer purchased mining pack of $100 and requested for refund, then all his mining payouts will be recovered back and he will receive only $100 back to his main cash or coin account. All his mining payouts will be cancelled as per refund policy can refer the below link for an example Am-I-Eligible-to-get-full-refund-on-PickAxe-Mining-Pack? and if customer has taken away all his mining payouts and zero balance is in his account, then customer need to payback the amount and it will be updated in overdue account, in the same way customer who received the referral bonus linked to this mining pack will be recovered from his referral bonus account if no balance found then it will be recovered from main cash/coin account accordingly.

*Claiming refund of mining packs are like cancelling the mining agreement with the company hence only mining pack subscription amount will be paid back and no mining payouts benefit will be given to customer/no referral bonus will be given to referred user also.
**Please note that once the refund has been processed successfully, it cannot re-activated back.

Am I Eligible to get full refund on PickAxe Mining Pack?



Get a full refund within 30 days (please check below provided scenario's from 1 to 4 to see you fall under which scenario), however, you are able to get a refund minus the proportionate cost of anything you have used or withdrawn away from your wallet.



After that, you are not eligible to receive any sort of refund of your PickAxe Mining Pack purchases.

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Scenario-1: Get a full refund within 30-days: The users who buy PickAxe mining packs are entitled to get a full refund within 30-days if they wish to cancel their subscription and if they have not taken away their mining payouts and also if the referrer hasn't taken away their 10% of referral bonus* (that's $3 if in case of $30 PickAxe silver pack mining user, $30 for $300 PickAxe Gold mining pack, $100 for $1000 PickAxe Platinum Mining pack).

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Scenario-2: Get a partial refund within 30 days: The users who buy PickAxe mining packs are entitled to get a full refund within 30-days if they wish to cancel their subscription and if they have not taken away their mining payouts.

However, in this case, if the user was referred by someone whom company has credited 10% as referral bonus* (that's $3 if in case of PickAxe silver pack mining user, vice versa,.).

E.g., If a user bought mining pack for $30 and if the referred person has already taken away 10% referral bonus, then the user is eligible to get partial refund of $27 [$30 (PickAxe Silver mining pack) -$3 (Ref bonus paid by the company to the referred person)].

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Scenario-3: Get a partial refund within 30 days: The users who buy PickAxe mining packs are entitled to get a partial refund within 30 days if they wish to cancel their subscription, but only when they have taken away their mining payouts. In this case, they are entitled to receive partial refund. And also if the referrer hasn't taken away their 10% of referral bonus* (that's $3 if in case of $30 PickAxe silver pack mining user, $30 for $300 PickAxe Gold mining pack, vice versa,.).

E.g., If a user bought mining pack for $30 and if they have already taken away mining payouts worth of $2, then the user is eligible to get partial refund of $28 [$30 (PickAxe Silver mining pack) -$2 (Payouts taken away)].

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Scenario-4: Get a partial refund within 30-days: The users who buy PickAxe mining packs are entitled to get a partial refund within 30 days if they wish to cancel their subscription, but only when they have taken away their mining payouts. In this case, they are entitled to receive partial refund.

However, in this case, if the user was referred by someone whom company has credited 10% as referral bonus* (that's $3 if in case of PickAxe silver pack mining user, vice versa,.).

E.g., If a user bought mining pack for $30 and if they have already taken away mining payouts worth of $2 and also company has already processed 10% referral balance to the user who has referred him/her, then the user is eligible to get partial refund of $25 [$30 (PickAxe Silver mining pack) -$2 (Payouts taken away) -$3 (Ref bonus paid by the company to the referred person)].

*Referral bonus - At the time of introducing PickAxe mining packs, the referral bonus was 20% as an introductory affiliated referral bonus which has been reduced to 10% at a later time on 12-Jan-2018.

What is "Cloud Mining"?



Cloud mining enables users to purchase hashing power from hardware in our data centers, without managing hardware, software, electricity or other issues to mine bitcoins.



With cloud mining, we will work as your agent to deploy and run the most advanced Bitcoin miners under professional operation and maintenance. We will help you achieve the best ROI secured by lower power consumption, electricity cost and higher mining yields in our own pool. You can start mining Bitcoin almost in real-time on purchase of our cloud mining contract. It will save you all the trouble and nuisance to run a miner on your own, and bring to you more yields instead.

How to start mining at home?



If you want to try mining yourself, you need to prepare with the following:

1. An ASIC miner: you can only mine bitcoins with enough hashing power using professional mining hardware;

2. Accessories: you need devices for power, internet connection, ventilation, cooling etc;

3. Mining software: you need to download special software to run your miner;

4. Mining pool: you need to join a mining pool in which, the profit from each block is allocated among pool members based on the hashrate they contribute.



What is ASIC Mining?



ASIC miners specifically designed for Bitcoin mining were first released in 2013. For the amount of power they consume, they are vastly faster than all previous technologies.



What is GPU Mining?



GPU Mining is drastically faster and more efficient than CPU mining. Yet they are still behind the exponentially increasing mining difficulty.



What is CPU Mining?



Early Bitcoin client versions allowed users to use their CPUs to mine. They went outdated by surging hashrate of the network.



How to Join Bitcoin India Pool?





  • Stratum Server for India based users: libertyone.bitcoinindia.com:3333
  • Stratum Server for other than Indian users: stratum.bitcoin-india.org:3333

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