You are correct regarding the likelihood of the ASICs being counterfeit on Alibaba.
They are more than likely a generic chip with fake asic number screened over the chip.
There are no 'generic' chips that can be used for counterfeiting. Unlike say the USB-Serial converter chips from FTDI, mining ASIC's cannot be built up and (poorly) cloned using mask-programmed micro-processors or gate arrays. Ja, if a counterfeiter *really really* wanted make a functional SHA256D ASIC then yes the mask programmed (and dirt cheap) route could work but performance would be horrible and not even come close to what Genuine chips run. The internal physical layout of mining chips are optimized to the nth degree for maximum throughput and trying to emulate them to burn into blank gate arrays just does not work anywhere near as fast. That leaves the chips as either improperly disposed of (stolen) rejects or a relabeled other kind of chip. Either way has SCAM written all over it. |
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*** Halongmining Dragonmint miner is a SCAM! If someone buys their miners without any well-known and trusted Forum Users 1st getting one for doing a review and posting it here then well, you have been warned ***Since we're all waiting for a reliable review of this machine, I have an off topic question. What is a good bitcoin wallet that also exchanges to other crypto currency? Some vendors only take bitcoin cash and some only litecoin. I'm on Coinbase and wanted to exchange 1 bitcoin to bitcoin cash. Coinbase offers a wallet for both, but doesn't offer to exchange it. Tried to exchange with Chanelly, but Coinbase held my bitcoin for 72 hours even after verification with drivers license image Jpeg and webcam picture. It took too long for Channelly so they cancelled the order and I had to cancel the send from Coinbase which was still in status "Waiting to clear". Do any of you have a good experience with a bitcoin wallet where you can store you crypto currency and exchange it quickly if you need to send something in something other than what you have enough in?
Even in a very poor topic topic about a scammy 'maker', it still is very bad form to hijack topics and go OT. Your query is discussed to death in the altcoin areas and Services areas.
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But your basis is the price when you received the "Reward" from mining the blocks...it's not just straight 100% income. That's what the IRS is "trying" to do. No, the basis is when you SELL the BTC. Ja the 1st revs of the IRS rulings were shooting to use value when the reward is received, similar to how they tax bartering however as is the case with the metals market, the price volatility prevents that method from working fairly. That and the fact that barter does not allow for accumulating income. So, for simplicity they now view it as simple income at time of exchange into fiat or durable goods. Another way to look at it: Farming. If ya grow crops you are not taxed on the crops themselves. You can grow and stockpile for years and never owe a single cent. You are taxed when they are sold. lol, no way the basis can be when you sell the BTC...that's the gain or loss. Otherwise you'd have zero taxable gain/loss...that's not going to work for the IRS. Read Q8 on the following link. https://www.irs.gov/pub/irs-drop/n-14-21.pdfThat IRS drop is what I was referring to with the viewing BTC tax as barter. Much of this has been hashed and re-hashed in Taxes on Bitcoins thread (now locked). Point is, as firetreeactual and I pointed out, that guidance is useless because there is no reference to which used exchange given in it. Look at the exchanges and you will see several hundred $ spread in pricing so which to report with? The lowest one? The highest one? Let's face it, the IRS still needs to nail this down. The only thing that makes fully repeatable sense - and the only verifiable way - is basing taxes owed when you actually do the exchange into fiat. Only then is there no question as to the 'real' value. Then there is the matter of *just how* the IRS would have any knowledge of your (mined) BTC holdings? When you exchange into fiat, that goes straight into my bank and both Coinbase and my bank record it/report it to the IRS. That is all they see so that is all I report. As for P&L, that mainly enters in only if you are trading or running as a business. Trading is straightforward cost-to-buy vs sell price. As a business, the taxable value of BTC is being offset by Section 179 deducts and normal business operating expenses, eg power/rent, etc. With personal mining there are no deducts so is pure additional income and taxed as such. |
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But your basis is the price when you received the "Reward" from mining the blocks...it's not just straight 100% income. That's what the IRS is "trying" to do. No, the basis is when you SELL the BTC. Ja the 1st revs of the IRS rulings were shooting to use value when the reward is received, similar to how they tax bartering however as is the case with the metals market, the price volatility prevents that method from working fairly. That and the fact that barter does not allow for accumulating income. So, for simplicity they now view it as simple income at time of exchange into fiat or durable goods. Another way to look at it: Farming. If ya grow crops you are not taxed on the crops themselves. You can grow and stockpile for years and never owe a single cent. You are taxed when they are sold. |
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The ONLY way to be consistent on taxes from earned BTC is to track the income when you exchange it for Fiat.
Because different exchanges give us different rates there is no way to just track value of BTC earned -- which exchange would be used as the reference? Throw in the wildly varying price and profit/loss would be impossible to calculate.
Tracking the income at time of exchange into 'real money' or purchased goods is the only way it works.
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Hi All Miner, I am very noob and just wanted to learn mining, before buying ASIC/GPU mining, I want to try on my Raspberry Pi Model B RASP-PI-3 (CPU Mining). Can i Get List of Coins which are minable on Raspberry Pi with Details Instruction ? Note : I know now a days Bitcoin mining required ASIC mining so i am not asking about bitcoin mining.
Thanks in Advanced  This is the Bitcoin-only areas. You need to post in the ALTCOIN areas: altcoin discussionaltcoin miningaltcoin speculation |
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Save yourself a lot of time and just go to the Awesome miner thread... Rather good place to find out all you want to know about it. As long as the miners are able to respond it works great. Be aware that some miner faults such as from a very brief power glitch causing the PSU to momentarily trip off will require a hard power-reset to clear. That said, lots of RiPi/Audroni based remote power switches on the net for sale. |
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Interesting... but this applies to just Bitcoin mining ?
How about the multi algo pools?
Zpool, Nicehash, Prohashing?
good point but - this is the BITCOIN area so not the place to discuss that. If there isn't one already, start a thread about it in the altcoin discussion area. |
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Last block we hit on Kano about an hour ago paid me .000831396686/THs
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If you are mining on a laptop then you are NOT mining Bitcoin, you are mining altcoins. You might get paid in BTC but in no way are you directly mining it. For the past several years only ASIC-based miners can mine BTC and this is the Bitcoin-only area. You need to post in the altcoin areas.
That said, the app is most likely mining Monero and vids/popups are the price you pay to use it. Folks running the app make their money off of the ads you are forced to endure. For your um, patience, they in turn give you a tiny portion of what they make from the ads.
Either delete the app or live with it. Up to you.
TANSTAAFL.
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Ya. Got some 6" long PCIe extension cables from FrozenCPU, cut off the male ends and soldered each triplet of wires to the 10GA leads.
McMaster sells the wire, it is 10ga 2-cond automotive wire. Uber flexible and looks good.
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Just a follow-up, Antpool is working for me again. I'm sure you all are happy...  I have been looking for an alternative to Antpool as you all suggested, but I am mining BTC cash right now, <snip> No, you are mining the altcoin called Bitcoin Cas H aka BCH. You are NOT mining BTC nor supporting the BTC blockchain. Don't even get into why only Bitmain and friends keep trying to call it BCC which is an old and different altcoin... The only value to BCH is when you: a. use it to buy miners from the folks behind BCH - Bitmain or b. Sell it for fiat or c. Paying a fee to do it, convert BCH to BTC so you can spend real BTC at Canaan's distributors to buy Avalons, FrozenCPU for all kinds of PC toys, Overstock.com, eGift, Newegg, and a myriad of other places to purchase all sorts of goods rather than just Bitmain's miners.... |
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CS back end  I ran 10ga leads to the miners and then split them into 3 PCIe connectors per 10ga pair. |
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Narf.
The CS use only 6 control pins and wider middle power planes, your pic shows 10 pins and middle power planes are narrower. Won't work without surgery and knowing if at least the DC_ON pins are the same location.
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So *why* post here instead of on the Awesome Miner thread? Ya know - the thread where everyone using AM hang out? Trust me - you WILL get an answer there, most likely from the author of the SW. |
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btw, we have secured a batch of USB-miners (Gekkoscience 2Pac) and expect it to be ready to ship out between 30th of december 2017 and 8th of january 2018.
I'm wondering if anybody is ordering those USB miners. With current revenue and 25 GH/s, this USB miner will generate 7c/day (I don't even count electricity cost). Which means 119$ / 0.07 = 1700 days ROI Or I missed something and you get 10 miners for 100 euros? No, just for fun and as a type of Lottery ticket. Speaking of which, yesterday a person hit one on ck's solo pool worth 23.35BTC! Swaeeeet. https://bitcointalk.org/index.php?topic=763510.msg26745257#msg26745257 |
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Rule #1 when it comes to users of electrical equipment and power systems:
NEVER exceed manufacturers published ratings! Period.
We are here to make money with our gear. Not risk it by playing 'what-if's' with it.
Yes any decent electrical designer will have reserve margins built in but you have no way of knowing what they are nor how much they were squeezed by cost reductions.
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*** Halongmining Dragonmint miner is a SCAM! If someone buys their miners without any well-known and trusted Forum Users 1st getting one for doing a review and posting it here then well, you have been warned ***#Dragonmint "I'll believe it when I see it" - Virgilio Lizardo Jr - BitbankVideo date: December 15, 2017. Link to video interview: https://youtu.be/WdKOgNgyZM4?t=3m46sVideo description: Virgilio Lizardo, VP of International Affairs at Bitbank comments on Asian, Rusian and Latino American Mining Industry as well as his skepticism of the much hyped Halong Mining, #Dragonmint. Virgilio:
So, you know, if I was them with our product, with our Litecoin miner right now.
We send our miners to independent reviewers, and then the independent reviewers review them, make videos about them, whatever.
And everybody can judge for themselves.
That's me with the BW-L21 miner review.  We now have people from following companies telling they are very skeptical on the DragonMint: Bitmain (Jihan Wu), BW.com (Virgilio Lizardo Jr.), Bitfury Group (George Kikvadze). These people know everybody involved in the mining game. How come they haven't heard of DragonMint?  Now to see if this is real or not, we would really need that honest, transparent review made by an independent reviewer. Might as well add that there seems to be ZERO press about this supposed miner maker being seen at the Crypto coin Tradeshow held in China. Started on the 19-20th. Canaan was there with their A821, eBit with their '10nm' miner, even Bitmain and others such as BW.com, but no Halongmining.  What's wrong with this picture? Missed a great chance to prove themselves there...
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Will the Controller for Avalon Miner 741 work with the 821 and Will you be able to hook up an A8 to an existing A7?
A while back Canaan said yes you can. But... Caveat: As I found by mixing A721's and A741's, yes they work just fine together on 1 controller. BUT be very aware that if/when you apply firmware updates the update is specific to a particular model of Avalon and identified as being for 721,741, etc. Thing is, an update is applied to ALL miners on the controller. In my case the 721's did not like being told they were now 741's... Fortunately, easy to back out again. So, best to not mix models on 1 controller... Since RasPi's are cheap, painless to do. |
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