That is too shady for me.

Looking to buy asap. Message me on here

Does the new york bitlicense requirement apply if you are trading your personally mined bitcoins for something other than "fiat currency"?

Let's say you trade bitcoins for gift cards,  or money orders?

Or if you trade bitcoin for gold and then sell the gold for cash?

any input here will be greatly appreciated.

Can someone please clarify this for me? 

What are you new york miners doing to unload your bitcoin if you can't legally sell them?

I was thinking that maybe this restriction applies to conversion into cash and not goods And services?    So maybe it would be legal to sell the bitcoin mined in new york for gold, prepaid visa cards, or other goods?

I would appreciate some ideas here.   Thanks

If you are a successful miner, you've probably had to deal with this issue.  Your input will be greatly appreciated.

I've seen a guide online which states that how miners are taxed on their mined coins depends on how the IRS decides to treat bitcoin (https://en.bitcoin.it/wiki/Tax_compliance)

But I need to know how I should file my tax return for 2017 (while the IRS figures out how it will treat bitcoin that is mined and sold for cash).

I can form an LLC.  would this mean that all income would be offset by all expenses? so if i mined @ $100 and sold for cash @ $1000, that $900 income would be offset by my $900 hardware expense so I pay $0 tax?  Or, would I have to pay capital gains tax on that bitcoin I mined and sold for cash?  If i have to pay capital gains tax, would I be able to offset those  capital gains with my hardware expense?

It would seem that at the current time, as the IRS hasn't yet been clear on how bitcoin should be treated for tax purposes, it would be my choice as to whether to treat the profit as income or as capital gains.   Does this mean that until the IRS actually does decide on this, i can choose the method that results in the least tax owed?  For example, in my first year treat the profit as income so I can offset the loss with my expenses and next year, when my profit is much higher than my expenses,  I elect the capital gains treatment so I can pay only 15%?

I want to fully comply with the law.  I also would like to pay the least amount of taxes possible.   In other words,  I want to pay only as much tax as I am required to pay by law.

Anyone with experience,  please weigh in here.   if possible, please use the example I gave above where 1 bitcoin is mined @ $100 and sold @ $1,000... showing the tax owed in different scenarios assuming a $900 hardware and electricity expense.

Thank you all in advance for your help with this.

The blocks above in bold have matured and will be paid out on the next block the pool finds.
[/quote]

but why does my kano pool statistics page show that all of the blocks on my payout page are mature (which means they have been confirmed at least 101 times): 

The blocks above in bold have matured and will be paid out on the next block the pool finds.
[/quote]

What VRobb said. ^^^^^^Above.
I lost track of the blocks that have actually been paid out.
[/quote]

so should the blocks that have not been paid out yet show up in my payouts page?

maybe it will be more clear if i post pics.

So I originally had a question about KANO POOL PAYOUTS and created a thread about it here:  https://bitcointalk.org/index.php?topic=1816372.0

My payouts page shows i should have gotten paid a total of 0.01529572 in the form of four payments:

455999   18ra2rHjbQMgPCKqBqemkvdRmwhigRXnBL       0.00490208   
455993   18ra2rHjbQMgPCKqBqemkvdRmwhigRXnBL       0.00456871   
455933   18ra2rHjbQMgPCKqBqemkvdRmwhigRXnBL       0.00348673   
455877   18ra2rHjbQMgPCKqBqemkvdRmwhigRXnBL       0.00233820

My rewards page shows the same.


But my bitcoin receive address shows only two transactions for a total of 0.00919057
(see this link:  https://bitref.com/18ra2rHjbQMgPCKqBqemkvdRmwhigRXnBL)

Can someone help explain this to me? I thought the cumulative amount i see in my payouts page should be the same as the amount in my wallet.  I use KEEPKEY wallet.

Thank you

I started pointing my machines to kano pool march 2nd....

And i do not really have a problem with the amount I am getting paid (i really don't know what to compare it to anyways to know if the payout is good or bad).  The only issue i am having is that the amounts stated on the KANO PAYOUTS page are different from the amounts I actually received in my wallet.  I figured if it says I should have gotten X, then when i log into my wallet I should see X.  But i am starting to get the picture that the amount in my wallet is the amount after transaction fees have been subtracted....

so are you saying that these transaction fees are subtracted from my payouts at first and then given back to me over time to prevent pool hopping?

Thanks a lot for answering my questions.  I appreciate it

Thank you for your response.

To clarify, transaction fees are not charged when kano makes a payout....but, if this is the case, why would TX fees seem to have been subtracted from the total i was supposed to receive?

Also, why would i receive payouts for blocks that have not yet been confirmed?  The last two payouts I received were for blocks that had not yet fully matured....

And yes, I will eventually just set and forget...but before I do that, I just want to understand how everything works....

Thanks again

I just started pointing a few of my machines to KANO.IS pool....here is what their payments page says:

Block           Address                                                 Status   BTC
455999   ###########################       0.00490208
455993   ###########################       0.00456871
455933   ###########################       0.00348673
455877   ###########################       0.00233820
-----------------------------------------------------------------------------------
Total:                                                                      0.01529572

When i look at my bitcoin wallet, I see the following:

Total Received: 0.00919057, Total Sent: 0.00000000

Final Balance: 0.00919057

Total transactions: 2

Recent transactions:
           Date ▼                          Amount           Balance
⚫   2017-03-06 09:34:40         0.00678640          0.00919057
⚫   2017-03-05 15:23:58         0.00240417          0.00240417
-------------------------------------------------------------------------
-------------------------------------------------------------------------

So, I seem to be missing 0.00610515 in my wallet.  as of this moment, all of the blocks but the latest one have matured.  Why am i getting less than the KANO.IS payout page is saying I should have gotten?

Can someone explain this to me?  The rewards page shows me the same exact information as the payout page.

Thank you in advance for your help on this.

Dear Fellow Solo Miners,

I am solo mining currently with about 61 TH/S....i am going through a solo mining pool (CKPOOL). 

Besides the fact that CKPOOL is trusted and well known and has been in business for a very long time, i would like to know IF IT IS POSSIBLE for other machines to get credit for finding a block that one of your machines actually found first?  Or could a solo mining pool operator steal from bitcoin miners?

Could there be a script which in a matter of milliseconds can detect when one of my machines has found a block, intercept my machines' communication with the CKPOOL server, and take credit for the block?

The thing is, I have invested a lot of money in mining machines and I just want to be aware of how a solo miner like myself using a solo mining pool could possibly be scammed.  Is there more or less risk associated with solo mining through a pool versus solo mining completely on my own using bitcoin core?

Think of it like someone who invests in a stock and would like to know what other risks there are besides market risk (i.e., what could a broker do to scam me? how could my stock assets be stolen from me due to lax security at the firm I use, and etc...)  I know every system has its flaws.  What flaws does the bitcoin mining system have (particularly when the bitcoin mining is done through a solo mining pool)?

How can i be sure that I will get credit for blocks my machines find?  How can I protect myself?

Have you heard of any schemes that have actually worked in taking a bitcoin miner's hard earned bitcoins without his/her permission?

It is already very difficult to find a block without the worry of others trying to steal from you; i would just like to know how to protect myself and what the security flaws might be.  What holes in security can hackers exploit to steal bitcoins that should rightfully belong to me?

Thank you.

So I am solo mining with my two S9's.  I am hoping to find a block in two years.....lol...don't judge this...instead,please help me know whether my machines are fooling me into thinking they are operating properly.

Everything seems normal when you look at the status page of each machine (please see the images I have attached).

However, when I look in the kernel log of one of the machines I see the following:  
----------------------------------------------------------------------------------
"total valid nonce number:57450
total send work number:57456
require valid nonce number:57456
repeated_nonce_num:0
err_nonce_num:45533
last_nonce_num:21952
chain[5]: All chip cores are opened OK!
Test Patten on chain[5]: FAILED!
Try to add voltage on chain[5]...
chain[6]: All chip cores are opened OK!
Test Patten on chain[6]: FAILED!
Try to add voltage on chain[6]...
chain[7]: All chip cores are opened OK!
Test Patten on chain[7]: FAILED!
Try to add voltage on chain[7]...
restartNum = 2 , auto-reinit enabled..."
----------------------------------------------------------------------------------
Also, the machine showing the test pattern problem has the standard blinking green light as the other machine does but in addition has steady (i.e. always on) red lights coming from where the power supply cables plug into the antminer.

So, from the status page it would appear that both machines are hashing correctly....but the kernel log of the one machine with the steady red lights shows errors.

Are they both actually hashing correctly? Is this something to worry about? I have the latest auto frequency firmware installed  (dated 11-29-2016) on both machines.

ALSO, the stats from my solo mining pool show that both machines are hashing at the proper 13.5ths average hash rate.  

I am worried that the 13.5ths on the steady red light machine may not be accurate (perhaps the machine is processing data at that rate but could be performing flawed operations which could result is a block never actually being found).

Also, can someone give me tips on interpreting the data in the status page?  For example,a way to know how close I've come to solving a block?