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Tax loophole. Not evasion. I think it’s the perfect scenario. Buy and sell with Swiss addressed wallet, gift the cash to American Coinbase.com and cash out, tax free, but report the gift on American tax return.
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So what about if I sell them with my Swiss-addressed wallet, then gift the cash to my American addressed Coinbase.com account? There’s no tax in America on gifts received. But they do have to be reported.
So this is a good idea? Buy and sell with Swiss addressed wallet, then gift to American Coinbase.com and cash out tax free, reporting my income as a gift on my American tax return? |
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So what about if I sell them with my Swiss-addressed wallet, then gift the cash to my American addressed Coinbase.com account? There’s no tax in America on gifts received. But they do have to be reported.
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I set up a wallet using a Switzerland address. But I used my American passport, American tax id #, and American bank account. If I buy and sell crypto (in Switzerland, because my address is a Swiss address), are there no capital gains technically? Then I simply deposit the funds to my bank account tax free? Is this true?
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Can ASIC mining machines mine in parallel? Can they pool their hashing power to mine in parallel and avoid doing the same work twice? Are machines in standard mining pools actually competing on one block? Do they mine in series? Or do they mine in parallel, genuinely adhering to a hierarchical tandem cooperative relationship so they don’t do double work? I mean, if I take 3 ASICs and stick them together, they’re just 3 independent machines, so yes I have 3x the chances of mining a block. But if they were to share the same mining algorithm, mining in parallel and sharing each other’s task- each mining a different part of the block so to speak, to avoid repeating each other’s calculations- they would be exponentially more effective. Is this already done? What is the software for this? Are mining pools typically series or parallel? Is this a common configuration?
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OP got scammed
I resent the merit of this. But I appreciate the tough love. |
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It’s the kind of mining pool based on crypto signals. All I know is, it’s elite and they’re not accepting new customers. Can’t find any info on it anywhere…… really, she’s very sensitive and finicky. If I try to set a fixed time to talk, she might say I’m being too controlling. One time she said to me “I don’t need your money” and I was like “nooooo!” And paid in right away and now there is some peace, but I want to, naturally, get the most out of this. She offered me to join multiple times I was like nah- until I lost my job she was like this is what you need so I said ok. I’ve asked her about the amounts, but she predictably hasn’t responded. Maybe she’s bad at math, maybe she doesn’t want to be micromanaged. So at some point I’ll ask her about the mining pool, tell me about the signals and we are collaborators let’s work together to manage reinvestment and withdrawals to make the most money we can.
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It’s the kind of pool where you invest bitcoin and it generates returns. If you invest $100 you get up to $300, $1000 and get up to $3000. Not sure if it’s cloud mining?
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I’m in a mining pool- rather I forwarded 10k BTC to a person, who I know pretty well, to invest in their mining pool. I have asked them to tell me how much is mine, how much is theirs, and how much total is invested, so I can track the progress of my gains- for example, if they have 4 BTC and I have 6 BTC, total 10BTC, then at the end of the month they tell me there’s now 12, I can say 60% of 12 is mine, or 7.2 BTC. Is this reasonable? Right now, they’re stalling and aren’t being active in telling me. I want to talk business and strategy, reinvesting and calculated withdrawals, but they’re aloof and disinterested. How do I tell them it’s necessary to know the standings ahead of time to guide investing process? In fact, I don’t really even know how it works and I want to find out more but they’re always distant and reluctant to talk for more than 5 or 10 minutes. How do I get their attention and say “hey. I need more information about this” without pissing them off?
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For a seasoned team of blockchain developers with in-depth cryptography knowledge? Not that hard (i'm not saying it would be a fast job tough, it would require a considerable amount of time... especially because they'd be "inventing" a new POW algo and they'd have to adapt or write mining software for cellphones)... It would basically just be adding code to your fork to make sure that at height x (a height in the future) you would no longer use sha256d to find a valid block header, but instead use your_own_private_algo. Offcourse, the code would need some other adaptations aswell, and you'd have to adapt some pool software to run a pool, and write a mining software for android and ios. Am already doing this but the developers seem oblivious in certain ways. Like they told me the bitcoin code was changed and can only be mined by asic mining chips. So, considering I want it to be minable by average members of the public at the beginning, they’re totally off-base and I paid a lot of money and it’s very troubling. I would love to have someone sit in on the meetings who is knowledgeable about this. Would you be interested? You’d be invited to mine some early on. I can tell you about it, pretty exciting. Goal is to reach the price of bitcoin from $7 in 1 year, supply 51 million, other neat features. Let me know. We can talk over whatsapp. https://wa.link/gh3krvCheers! |
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Is it feasible to Hard Fork the bitcoin blockchain, duplicate bitcoin (in every way), 1 difficulty, renew the supply, and use a modified form of the current bitcoin core 27 software for cellphone mining? If so, how hard would it be to adapt that software for cpu, GPU, fpga and asic? Thinking of a project…
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Given the difficulty level, and low sophistication of the code, would it have been possible to mine Bitcoin with a cellphone in 2009? Is it possible to fork the blockchain, and make a new version of bitcoin and the bitcoin software that can be mined on a cellphone again? Or at least a low grade CPU?
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but that it’s at least technically possible using Awesome Miner and EasyMiner.
I don't know what these two are but theoretically anything is possible. Mining is based on luck. For example you can get lucky and the first hash you compute is the correct one and you can submit your block. That means you can get lucky with the oldest CPU with lowest hashrate as well. But the chance of that happening is so low that it is practically impossible to "get lucky".
Pooya87, I am tempted to believe you especially due to your veteran level experience. However, how is it possible you don’t even know what Awesome Miner and EasyMiner are??? I’m puzzled! FYI they are mining software, I would think veterans would know about mining software? Here’s the link on Koinly, dated December 2023: https://koinly.io/blog/best-crypto-mining-software/I see there are 2 mining software programs that support CPU mining of Bitcoin (Awesome Miner, EasyMiner) and 3 mining software programs that support GPU mining (Multiminer, Awesome Miner, EasyMiner). |
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Is it true that the Bitcoin code was changed so that only ASIC chips can mine it? I am under the impression it can still be mined with CPU/GPU- although of course not successfully mining a block due to low hashrate- but that it’s at least technically possible using Awesome Miner and EasyMiner. But a developer I am talking to insists the Bitcoin code was modified recently, so now it can only be mined by ASIC chip machines. Please confirm.
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