It makes me sad to read this thread. Fighting so hard for .002 BTC per day. My x10s were good little boxes for so long. $40 a day, $80, $100. The good ol days I suppose.

I was curious about this as well since everyone seems focused on Monero only here, but with so many CN coins available for mining at $150+/day return, what’s the fuss if Monero does fork? Is everyone concerned ALL of the other CN algos will as well? That doesn’t seem logical to me. And with so many available coins to spread the ASICs across, it seems possible the profits won’t diminish as much as anticipated, especially if these machines truly have been used on the network by Bitmain already like people believe. So will this guy stand to get his $12k back in 2.6 months?

Whattomine > nicehash has the highest profit even considering fees with quark or Qubit. MG was decent for a while and I’ve never seen anyone argue for x11 or skein on this asic. Explain where to find a higher ROI and I’d love to hear it. Thanks

To those who mine the X10 using Nicehash, I’m curious to know if anyone has been able to utilize the ‘enable-nicehashsma’ feature posted on their site? I was pointed to Quark for a long time, but it seems Quark/Qubit are now going back and forth and I’d prefer this automated feature to work, but for all my efforts, it does not. Any help would be appreciated. Thank you in advance -

I obviously don’t post often, but I’m hoping my own frustration and success may help others.

I ordered several A3’s that arrived this morning - no problem. Connected to Siamining - no problem. Mined nearly all day - great. Around 3 hours ago, 1 of the asics kept crashing with xxxx on all hash boards. I rebooted it and it was good for 30 mins and it crashed again. Now I’m getting a little nervous and irritated, but only 1 unit is doing this. I check it out a little more and note the temps on the pcb and chip are far higher on this unit than the rest. I have no idea why - same batch, firmware, pool, everything. I reboot a couple more times with it crashing after 30 mins before I have to do something. The chip temp keeps hitting 107 while the other asics are hovering around 94.

Good or bad, to solve the problem, I lowered the frequency from 600 to 500 and voila, the temps are now in the same range as the rest of the A3’s at full frequency. I’m only pulling 680-700 instead of 815, but at least my unit won’t crash every 30 mins now... thanks Bitmain.

I don’t typically post on here, but this topic has garnered far too many ‘opinions’ instead of facts. To the OP: see the following for taxation of currency mining in the US.

Also, as mentioned by others, nearly every reputable pool will offer a downloadable spreadsheet of your data for tax and audit purposes. If they don’t - good luck.

Keep tabs on every purchase and use it as a write-off, from monthly rents to power cords. Larger items, such as your ASICs, may have to be depreciated over time (and you may want to in order to reduce future tax burdens). Typically these are on a 5 year straight line depreciation, or you can choose to do a Section 179 deduction and write off the full amount in year 1. See your CPA for all tax questions and what is best for you.

IRS Notice 2014-21, Q-9

https://www.irs.gov/pub/irs-drop/n-14-21.pdf

Q-8:  Does a taxpayer who “mines” virtual currency (for example, uses computer resources to validate Bitcoin transactions and maintain the public Bitcoin transaction ledger) realize gross income upon receipt of the virtual currency resulting from those activities?

A-8:  Yes, when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income.  See Publication 525, Taxable and Nontaxable Income, for more information on taxable income.

Q-9:  Is an individual who “mines” virtual currency as a trade or business subject to self-employment tax on the income derived from those activities?

A-9: If a taxpayer’s “mining” of virtual currency constitutes a trade or business, and the “mining” activity is not undertaken by the taxpayer as an employee, the net earnings from self-employment (generally, gross income derived from carrying on a trade or business less allowable deductions) resulting from those activities constitute self-employment income and are subject to the self-employment tax.  See Chapter 10 of Publication 334, Tax Guide for Small Business, for more information on self-employment tax and Publication 535, Business Expenses, for more information on determining whether expenses are from a business activity carried on to make a profit.