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1  Alternate cryptocurrencies / Marketplace (Altcoins) / Futereum Pre-Order on: January 21, 2018, 03:59:14 AM
Updated 1/21/2017
- Personal Endorsement by Futereum! (https://medium.com/@futereum/how-futereum-will-to-change-the-world-168d0853dc8d)
- Added AK899 to supporters
- Combined information on checking token validity
- Updated member count

Pre-Order (20% Below Lvl 1 Mining Cost, Ends Feb 2nd)

I have been in the Telegram Community: https://t.me/FutereumCommunity chat for the last few days and the community has been a great help in helping us understand this product, especially Amanda, who never sleeps and AK899.  I知 excited about this project (I知 a large FUTR investor) that I want to get more people involved.  To do so I知 selling a portion of my FUTR pre-order for 20% below level 1 mining cost!  You don稚 get it cheaper than that when it gets listed on Open Ledger, February 2 (when this pre-sale ends).  This discount is on the honor system but I figure it would be enough to get you to join into our chat room to learn more. 

EtherDelta Listing: https://etherdelta.com/#0xc83355ef25a104938275b46cffd94bf9917d0691-ETH

Token Validity can be confirmed by checking the Contract Address on EtherDelta to Etherscan: https://etherscan.io/token/0xc83355ef25a104938275b46cffd94bf9917d0691 click the link "Make sure Futereum Tok is the token you actually want to trade. Multiple tokens can share the same name." and it will launch to Etherscan.   Check the Futereum website and you will see the same Contract Address: https://futereum.org/

There are 117 members in the FutereumCommunity Chat and I'm in the chat room if you have questions.

Thanks
Bluelogic
2  Other / Beginners & Help / Paying 2013 taxes on Bitcoin earnings (United States) on: November 29, 2013, 04:34:42 PM
All-

I'm having trouble finding information on this.  My Bitcoin earning in the past were very small but now my short term selling income is significant.  In the United States I want to self report that I obtained this income through mining and selling on Coinbase.  I know Coinbase can care less about the US Government but my bank that has direct deposit setup with Coinbase will either tell my government or my government will know from auditing me which has happen twice already within the last seven year.  Please keep this on topic I usually file my taxes early and want to the right thing.

How do I self report?

1.  Fill out a 1099-G and treat as short term capital gains?
2.  Treat it as undocumented W2 income?
3.  Are mined coins treated differently from being bought directly?  In an investment scenario you only pay the taxes on the profit from the initial cost.

Thanks
Bluelogic
3  Other / Beginners & Help / A Noobs Discoveries (ALT Coin) on: November 22, 2013, 09:31:55 AM
Hey everyone this is my first post so I figure instead of a typical introduction I give back with some noob advice from by trial by fire.  So I値l start with boring stuff first.  I have ONE computer mining with a 7850 in California.  I started mining Litecoin in the beginning just to see how it works.  I知 not a long term investor but I find it kind of exciting to convert energy to coins to dollars.  So on to the good stuff.

Do your research!
   Mining is all about the number of kH/s vs number of watts
   Don稚 mine for Bitcoin (waste of time)
   Don稚 mine with a CPU
   Don稚 mine with a laptop
   Don稚 mine with a Nvidia GPU
   Don稚 mine if you have a crappy power supply
   Don稚 mine if you have something lower than a ATI 7850
   Don稚 mine if you don稚 have this: http://www.amazon.com/P3-International-P4460-Electricity-Monitor/dp/B000RGF29Q/ref=sr_1_2?ie=UTF8&qid=1385106130&sr=8-2&keywords=kill+a+watt
   Don稚 mine if you can稚 read your electric bill
   Real work will always be better than mining
   Mining will stress out your GPU so save that warranty information

What to mine?
This is debatable and will depend on what you are hoping for.  I知 going to say right now I知 not a long term investor and right now will mine as long as I make more than I put in.  So when deciding to mine an alt coin you can choose one and hold or you can use something like Middlecoin or MultiPool to max out the profits.  When starting out I went with Middlecoin because it gives 24 hour metrics with all the fees included and can be a good baseline measurement.

Show me the money
You have to have a place to put your money first.  Coinbase seems to have the lowest fees and handles direct deposit to your bank.  This fee is
   1% of the dollars amount + $0.15
In the above example I used Middlecoin and the fee is 3.388% of your BTC; however, there is no exchange middle man or transfer from exchange to Coinbase steps needed.  You can find pools that suit you better and shave off this fee which can be pretty significant such as Multipool which is 1.5%; however, Middlecoin seems to have a pretty stable system.  So while Middlecoin has a higher fee you are not getting as many rejections which can hurt you more than fees.
So time for an example
I mine with one ATI 7850 on low intensity and get about 300 KH/s.  Middlecoin shows in 24 hours I get 0.00260795 BTC.
Converted to dollars on Coinbase as of 11/22 that is $1.70
Now remember that energy measuring device I mentioned above this is where it matter.  Measured under full load I get 256 Watts
Looking at my energy bill I知 on a two tier system were tier one is 0.09$/KWH and tier two is 0.1789/KWH.  This is a huge difference and has a huge impact on your profits.  So 24 hours of mining cost in power
24 hours X 0.256 KWatts X 0.1789 (Worst Case Scenario) = $1.09
Total Profits per day is drumroll$0.61!!! or $19/month.  Don稚 QUIT your day job.

Lessons Learned
   Mining is great in the winter and works well as a space heater no need to use gas heater
   Mining has made me more energy aware.  I look at everything to lower my energy cost and increase my profits
   Do not talk to your girlfriend or wife about bitcoin. They will look at your funny.
   A PV solar will return more money than Alt coin from net metering

Plans for the future
I got two Sapphire 7970 Dual X OC with boost for $520 with $50 in rebates and $60 in free game cards that I plan to sell on ebay for a total of $410.  These card should run at 700 KH/s netting me 1400 with the two.  I wanted the cards anyway so I don稚 care if I make a profit.
Should be 400 watts per system so 800 watts or .8 KWatts
In one day this is 0.0128
Converted to dollars on Coinbase as of 11/22 that is $8.98
24 Hours x 0.8 KWatts x 0.1789 (Worst Case Scenario) = $3.43
Total profits per day is: $5.54 or $166/month.
So the cards pay for themselves if nothing changes (cough) difficulty/price in 2 Months.  I haven稚 decided yet if I wanted to also you the 7850 with one of the system. 
I only have a 630 watt power supply and a 430 watt power supply so I知 thinking of putting the 7970 with the other 7970 in the 630 watt and the 7850 leaving in the 430 watt until I buy another power supply.  One thing is for sure to be an effective miner you need at least 750 watts+.

If you got this far thanks for reading and I appreciate your feedback.
Bluelogic
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