Did this concept catch on ... i.e. are people using these services instead of dropbox or google drive?  I have a extra external HD and I was thinking about setting up an Odroid to host a node ... is it worth it?

Yeah, I do have a CPA, just wondering if there it's worth tracking and bringing up.  Forming an LLC is a good idea if you are a serious miner, but for me, it's a hobby.

I did find some info at IRS.gov.  Looks like can deduct hobby expenses, if you are also claiming income from a productive hobby.

https://www.irs.gov/uac/newsroom/five-basic-tax-tips-about-hobbies

I think RieCoin and Hodlcoin are both still cpu only ... I don't know what the profitablity is like on either, though.   I think Nexus has a "dual channel", for both CPU and GPU mining.

Ive started mining as a hobby.  It got me wondering if I can offset some of my taxable profits by claiming electity use and dedicated mining equipment. 

Anyone have expericence here?

My top 4 alts are Etherium, Dash, Litecoin, and Monero ... those are probably going to trade similar to bitcoin.  Growth but not "home run" investments, but I put most of the resources in those (and Bitcoin, of course).

But, for the big gains, you have to find that undervalued "next big thing" ... I put a small percentage into something that isn't popular, but has a good idea.

I'm not sure the IRS really needs to track all bitcoin transactions to find cheaters.  Couldn't they just subpoena the records from exchanges to see who is selling for US dollars?  They did the same thing with off shore accounts a while back, and got off shore banks to cooperate, for the most part.   I would not be surprised if in the near future the IRS requires exchanges to report buy and sells, at least the ones in the US.  I keep good track of my buys, and when I sell, I'll pay taxes ... but hopefully I'll be retired and lower tax bracket by then.

I have to echo some of the comments above.  When you trade, you are up against sophisticated operations with computer algorithms that will be one step ahead of you (unless you are really, really good at spotting opportunity).  

That's why you invest, long term, don't buy anything unless you think it is worth holding.  Stock market studies show amateur investors (buy and hold) outperform amateur traders.  Ive never seen a study like that specifically for crypto, but in looking at the long term growth of cyrptos,   long term holding has probably out performed ever asset class over the last 3 to.10 years.

Looking at 5 years, and using the S&P 500 as a benchmark, the stock market is up to $2425 from $1411 in 2012.  11% a year, on average.

During that time frame, Bitcoin went from about $7 to $4100.  258% a year, on average.

Sadly, I missed the boat and didn't start getting into Bitcoin and Altcoins unit this year.  Let's hope for another 10 years like the last.

What does this error mean?

[2017-08-15 01:55:11] Total: 381.14 H/m
[2017-08-15 01:56:08] Total: 381.33 H/m
[2017-08-15 01:57:06] Total: 381.46 H/m
[2017-08-15 01:57:41] stratum_recv_line failed
[2017-08-15 01:57:41] Stratum connection interrupted
[2017-08-15 01:57:41] Total: 381.35 H/m
[2017-08-15 01:58:42] Total: 379.67 H/m
[2017-08-15 01:59:41] Total: 377.79 H/m
[2017-08-15 02:00:39] Total: 380.17 H/m
[2017-08-15 02:01:36] Total: 382.25 H/m

I'm getting it pretty regularly and the pool is not showing me accomplishing any work.

Is this where the worker is trying to send the work done to pool, but the pool doesn't accept it?

At this point, it's mathematically impossible to get to 51% by mining alone.  Per CoinMarketCap, 16.5 million of the 21 million have been mined already. 

Did these guys take it down?  I'm getting a generic domain buying page and it looks like the domain expired today


https://www.whois.com/whois/poolinat0r.com

I wanted to give CPU mining a go and read this was good place to start.  I using the VRM2.poolinat0r.com pool (For slow mining).

I'm getting a lot of "Rejected" notices on CPUminer-Opt.  I'm only at 3/6 for "accepted" after about an hour.

Is that normal ... does it mean my computer is "too slow"?

I just wanted to give mining a try for fun.

Thanks

I don't understand all the hate for Bitcoin Cash.  Not trying to take sides here, but I just see it as free money.  I think it's too bad that the two communities could not agree on a scaling solution, but it's free coins and it didn't knock the price of bitcoin down at all.  Since the split, BitCoin went through the roof, and Bitcoin Cash seems to have found a near term bottom, and has been trending up for 3 days or so.  It's holding at #4 in market cap and #3 in price per coin (of the top 100 coins) ... it's future will depend on if the development team sticks with it, or if this was just a one time pump and dump scam.

Bitcoin was founded at the end of the "great recession", so we don't really what will happen if a recession hits....

I could see two scenarios.  People cash out their bitcoin to dollars so they can pay their bills, driving the price down.

Of, if the dollar declines and/or people are getting out stocks, there is a buying spree, a flight to safety or hard assets ... like we see with gold buying in a recession.

I'm hopeful of the latter. 

From a long term investing view point (not a trader) I would keep most my money in Bitcoin, etherium, Litecoin, dash, and monero, (maybe Bitcoin cash) and occassional dip into a new or low priced altcoin looking to hit a homerun. 

Sadly, you are right.  Seems like every bitcoin related website I visit is full of ads that set off my Scam alert senses.  Some more obvious that others.  There is an ad I keep seeing "Bit Great", IIRC, that promises 60,000% return in 3 days ... just send them a bitcoin and they'll send you back 600 on Thursday ... they promise.

I buy and move to cold storage as fast as possible.  

New here.  Is there a policy for quoting news articles or other sources for reference in a post you are making?  Like cutting and pasting a small section of text and citing the source with a link?

Back when Bitcoin first $2500 a couple months ago, CNBC had on their front page, "$100 invested in Bitcoin 8 years ago would be worth $75,000,000 today".

Pretty unbelievable.  It was probably the opportunity of a life time.  I doubt we'll see those kinds returns in anything again.

I heard an economist on the radio a few weeks ago say that if Bitcoin becomes used as the currency for 10% of the world's transactions, it would be worth $200,000 each.  It may be decades away, though, but his view wasn't based on speculation, it was based on actual use.  So, in his opinion, growth in bitcoin will require massive growth in adoption.

I read SegWit is going to activate Around August 23, at that point there should be more space for transactions in each block, and perhaps the mining fees come down.