Ever since I set up GBMiners, I have wanted to talk about the miners who have been constantly working towards making our mining farms with an enormous success. The relationship we share has benefitted both GBMiners and the various members of our mining team.
Here are the Week 2 Stories:
1. Name/Author: Sominder Kumar
Hello, everyone. My name is Sominder Kumar and I started mining with GBMiners sometime around November last year. I am not a full-time miner. I just offer my services. As far as mining is concerned, GB miners does it for me. I am merely a cloud mining contract holder with GB Miners.
I personally feel that Bitcoin or any other form of virtual currency for that matter has a lot of potential in India as well as all over the world. People are showing an interest and are attracted towards virtual currencies due to the safety, speed and transparency they provide and the low cost involved in transactions. But there is a lot of talk happening about the government stepping in and trying to regulate the virtual currencies. My view is that a clear majority of people will shy away from using Bitcoins or Alt-coins the very moment Government steps in as a regulator. The freedom and fun in Bitcoin is the lack of regulatory control and that is what makes it so popular.
Secondly, it the high percentage of return from Mining contracts that makes Bitcoin so popular. According to rough estimates, a respectable number of people who purchased Bitcoins in the last year and a half year are those who have purchased mining contracts with Bitcoins. Prior to that, the number of people holding Bitcoins for capitals gains was not great.
Every form of virtual currency has an interesting future in India. A few years ago, we had daily lotteries operating in India. Many people in those days used the winning tickets as currency to be used in future for a certain period. The only reason was Lack of regulation.
I do see a good market and future for Alt-coins also but somehow their popularity may be inversely proportional to the popularity of BITCOIN, so to say. Other coins may gain a foothold only in two situations-
(i) Bitcoins are regulated or lose prominence for some reason
(ii) Bitcoins reach a level where it may be difficult for an individual to buy even a few bitcoins due to prohibitive price.
2. Name/Author: Andras Szekely
My name is Andras Szekely and I am from Hungary. I have only been associated with GBMiners for the past six and a half months.I’ve been in the IT industry for over 30 years developing and building IT networks in Hungary and in several countries. I even had the opportunity to participate in Sydney 2000 Olympics Games and build up the whole IT infrastructure for Hungarian National television. I participated in Kairos Technology and became “popular” quickly. I travelled twelve countries on behalf of the company in less than six months and spoke to more than 6,000 people about the need of data storage and backup technologies. In January and February this year, I started dealing with cryptocurrencies and Sanjeev asked me to participate in this big opportunity. Also, we began talking about other projects with a Hungarian inventor about energy systems which could be a gain for Bitcoin mining farms. I built an IT system and the inventor helped the technology get very efficient. We used solar energy — energy from the sun — for bitcoin mining.
As far as I can see, GBMiners is very trustable and thus I decided to stay with this and work big. I got an invitation from Sanjeev and after visiting GBMiners mining farm, I’m sure that a lot of people will trust GBMiners and join the system.
I think, mostly I answered above. But, what I know is that Bitcoin mining, connected with a good economic environment is likely to build up it in India and could be a very powerfully “package”. Also, Bitcoin should not be reduced to only the “money side”. Rather it could be a new way of storing sensitive data around the world.
When dealing with coins and seeing the movement of this technology, we notice a bottleneck of “Bitcoin” and the AltCoins can be a suitable alternative of this technology. But I also think that Bitcoin will evolve in many directions and as for big companies, banks and governments the core coin will be for a longer period the basic interface.
3. Name/Author: Sudhakar Hannda
Hello, guys. My name is Sudhakar Hannda and I have been working with GBMiners since October last year. Before I ventured into mining, I was working as a hospitality consultant.
I am not sure about the future of Bitcoin in India, considering our Finance Ministry’s mysterious ways. We may see heavy taxation or a complete ban on Bitcoin in India for trade purposes.
I strongly believe that Bitcoin will remain Numero Uno. But Ethereum seems like a winning currency too.
4. Name/Author: Ajay Chhabra
My name is Ajay Chhabra and I became involved with GBMiners in January this year. Prior to becoming a miner, I was managing my own business which dealt in industrial gases.
I think that sooner or later, the Indian government will also accept Bitcoin would help in the growth of digital India.
I think nowadays, the entire world is taking keen interest in cryptocurrency and more than 180 countries are accepting this virtual currency. I hope to see a bright future for Ethereum, Ripple, Zcash etc.
5. Name/Author: Ankit Ahlawat
Hi! My name is Ankit Ahlawat. I am new to mining and started working with GBMiners in January this year. Prior to this I worked with IndiaFirst Life Insurance company.
I think that the future of Bitcoin in India is great but I believe it will be greater after legalization.
Talking about other cryptocurrencies, I don’t know much about Alt-coins like Ethereum, Ripple, zCash etc.