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Indeed. The difference in power costs between countries mean it might still make more sense to pay 50% tax in a country with cheap power vs a 0% tax regime with expensive power. I'd forget worrying about tax until you have your costs figured out
Iceland isn't in the EU.
You are correct about Iceland, it was pretty late and I was only thinking of farms that I am aware of. Domestic power in BG costs me 7c at peak rate, combined with 10% tax it is attractive although the 40c summer heat does mean extra cooling for 2 months, pretty sure the -20c we had as a low in the winter should counter the summer cooling costs Hello Tman, So you are a miner too. Are you mining just for yourself as a private person? Have you ever exchange Btc to fiat? Did you pay any tax? Thanks for reply |
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We are going to mine in Slovakia, we have good price of electricity, but we are able to create a legal entity - company inside of any EU nation country. This company will pay taxes according to country in which it is created.
So my question is what is the best country in EU to have company in for officialy exchange Bitcoin to fiat and tax the fiat.
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Hello guys,
We found an investor who wants to invest some money to mining business. He would like to do everything by the law and tax every coin we mine and exchange.
We are going to use GPUs for mining, that means we will mine shitty coins and we will exchange them to Bitcoin.
What is the best country to have company in for paying the lowest possible taxes if you change Bitcoin to fiat? What is the most tax friendly country in EU?
I read about Germany and holding BTC for one year, but does it also include legal person - company?
Thank you for your answers!
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Hello fellow miners,
What tools or websites do you use for effective searching of new alt coins?
Any discord channel suggestions or website where people are discussing recently created projects (altcoins)?
Thank you for your answers!
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Good idea bro, will see  |
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The idea of USDT is good one, it should back USD but time will showe how it going to hold up...
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I believe it's going to float around 10k and then will go up to 12k... It looks like there is a struggle of price of the bitcoin.
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You should check the forum all the time and try to find new coins and setting from fellow miners. Good luck bro.
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Hey guys,
please can you help me with settings of this new cryptocurrency?
What intensity do you use and what are the best overclocking settings for 1080TI?
Thank you very much, your help is much appreciated!
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Thank you guys for your answers!
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Hello Minners!
I am about to buy Nvidia GTX 1080 TI for minning and I am wondering what is the lifetime of such a gprahic card in case that I care about the conditions of use. 70-75% performance with good cooling.
I know it is like a car and from time to time it can just stop working. But if we are talking in average numbers what is the lifetime of graphic card used for minning?
Thank you for your help!
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Thank you Subal_Damudar for your answer!
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Hello guys,
we are considering to start mining altcoins with my colleague but I still don't understand one thing.
As an effective miner you should switch mining of altcoins in terms of best increase prediction of the coin. If we would decide to mine some kind of unknown altcoin, how should we exchange it, if our wallet (Ledger) doesn't support it.
How does it work? Should I find a wallet which supports it, or can we mine this unknown altcoin directly to market such as coinbase or gdax and exchange it for Etherum or Bitcoin?
This is the last piece of puzzle which I am trying to figure out.
Every reply is very welcome.
Thank you!
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If you want to mine ETH,LTC,BCH,BTC you can use a GDAX (owned by Coinbase) wallet address. From there you trade to BTC or USD/EUR and transfer the funds to Coinbase for free, which also has cold storage available for free and all digital currency that Coinbase holds is insured. You can transfer USD to your bank account for a fee or get a Shift debit Visa card connected to your Coinbase wallet to spend the BTC with no fees.
The minimum BTC, BCH, ETH, or LTC deposit amount is 0.01 and GDAX only charges 0.30% fee on the taker of the trade. Transfers from a GDAX wallet to a Coinbase wallet are free and instant. Cash back transactions with the Shift card and purchases are also free or you can do an ATM cash withdrawal for a $2 fee + the ATM fee.
Thank you for your help! May I ask you how does it work if I want to mine different altcoin. I mean no ETH or BTC or BCH, but something like IOTA, Zcash or VeChain. If I successfully mine, do I need special crypto wallet to send it to? I don't understand how does it work with other altcoins. Thank you for answer! |
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Hello John Doe,
what is the conclusion of this topic. Which wallet did you choose and what do you recommend. I am facing exactly the same issue as I am going to mine with my friend and need to choose wallet for as many different coins as possible with great security.
I wanted to message you but, you are not receiving messages from newbies.
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