About Bitcoin or Litecoin Mining in Vietnam

Know a bit about that business. have one acquaintance bragging bout mining it, but reeeally doubt that claim.

It's not that popular from where I stand.

The InterNet in VN is 'moderated'. Currency is 'moderated'. Gambling is very 'moderated'.

Given these government activities it is unlikely much is going on - and will be stomped on very hard. A more likely place would be Cambodia - and there in Phnom Penh.

There might be a few practitioners, but likely they keep their mouths tightly held shut.

I read somewhere that the VN Govt. has recognized the existence of Bitcoin like currencies and also added that VN banks will not deal in them.

I wouldn't exactly compare it to gambling, especially if one is involved in 'pooled' mining where the ROI is constant. Even in 'solo' mining the ROI can be easily calculated based on your hardware configurations and power consumption. The beauty about mining is that it can be done by virtually anyone, from anywhere and from any device (desktop, laptop, tablet, smartphone).

However, there is a major element of hoarding done by people who buy or mine crypto currencies so maybe that's why they don't let on about their activities.

@ParadiseCruiser In case you meet up with your acquaintance, do update me whether he's mining using ASIC miners and also a little info about the availability of that sort of hardware in VN. I would really appreciate the info and I'm in no rush. Thanks.

If electricity is not an expensive resource in Vietnam then I would advice everyone with a desktop, laptop, even a smartphone, to start mining using the idle time of their device so they can make some extra money.

@Jaitch Thank you and really appreciate your info.

Hi UmarSuhail,

My (male) cousin lives in Go Vap district
has two set of computers to mine bitcoins.

Tell me if you still need info, I can ask my cousin.

This thread is not new but things have only gotten harder mining bitcoin and competitors.  I did quite a bit of research on this and unless you are getting electricy for close to free and can cool your miners using little to no electricity [they run so hot that they will not work and crash if not cooled] the ROI, return on investment, is hardly worth the effort.  There are a variety of ROI calculators on-line that will show you this point.  Like I said, I'm was long time computer whore professionally and I decided not to do it.  BUT and there is a BUT, there are other cryptocurrencies that are possible as they are not so difficult due to them being much younger and less popular than bitcoin.  Just my opinion.

On the other hand IF you insist on try to make money more power to you.  The way to circumvent the VN officials is simply to run your computer's internet traffic through an in encrypted proxy so your traffic does not enter into the stream of prying eyes of VN, they can't see it because it's encrypted and does not route through their routers in a normal viewable manner.