It is an Indiegogo Tixie...I tripped over this and got one of the 50 1st adopters for 69 bucks you get the unit ...see video..I like the 2 wallet add it up option display perk

anyway 1 btc symbol usb/t-shirt and the unit 69 bucks

does time/temp/btc and merges 2 wallets for display real time too i think it said

again look at the video

I'm just plugging this cause i paid for 1 of the 1st 50 above for $69 bucks

pass it around and take the poll if your ordered it or not

here's the link been up 2 days out of 30 I think

https://www.indiegogo.com/projects/tixie-the-money-clock/x/6474681#/





again i don't have zip to do with these folk just thought it was cheap for the price and pretty slick

Note: This is a "LONG" frigging post for folk still HOME mining ASIC's in Winter areas of the world....specifically on how to get winter heating rates at a savings ( 4.43c kwh DECREASE  in my

case with Xcel Energy (Midwest USA) .....thru the 'circumstances' I describe in detail  below...hopefully it helps some folk ..that are home Minng ASIC's like me trying to extend their

"Home Miner Dream"

If it does not apply to you in anyway ....just move on....(I don't need folk in Florida yelling it is 'not fair' I agree...it is 'not fair' but here it is in detail)



Once upon a consumer call to Xcel.......a Xmas Miracle.....

Just a note for folk with ASIC miners either BTC or LTC. I called a REGULAR help line person for Xcel Energy (Electric) (Midwest USA) on a billing question *unrelated*...and the

rep goes " Man your electric bill from last year is up 225 bucks a month on average" ...Not sure exactly what is going on...got a bit spooked ....( I have a 100 amp service running 2500w

for two KNC Titan Scrypt Miners (LTC to BTC)....I replied (to re-direct any inquiry by Xcel  because not sure where to go with above) and said....

"Yeah I have 'computer servers' in the basement (kinda true she likely would not know what an ASIC Miner machine was anyway ...and again trying to re-direct off this topic)...

" I have to cool the 'equipment' in the Summer. (If they want to think the extra electric is from central A/C use so be it ..I don't have such used shutter fans etc) keep it around 72F

and of course need to heat basement in the winter to keep the same at 72F don't ya know)

So I'm ready to hang up....again 'spooked' ...and have successfully re-directed inquiry into large electric use on my modest 3 bedroom home and such ....and 100 amp service....etc

The young woman rep goes "So that means that with the electrical use increase you are using Electric Heat as your primary heating source now and you qualify for winter rate reduction

for home heating with electric?"

Five or seconds go by...I'm dumbfounded......(It seems that in Midwest in winter they knock off about 4.43c kwh for the folk using 'electric heat in winter' from later calc's I did

So I think...yes ...electric is my primary heat source this winter (it is even true....mild winter I've kept the whole house at 62F (64F upstairs bedroom) and 68F in basement

all winter ...I mean really I used 9 therms of gas in Dec 2015 usually I use like 300 or so I think it was)

Yes indeed I say to the nice lady xcel rep... I was not aware of such....she redirects me to the back of my Xcel bill sure enough..there it is in black and white.....again dumbfounded

So she goes...OK I"ll flag your change..if it is to change back to something other then Electric as your Primary method of heat let us know (sweet girl who am I to tell

her that even if I did have 'server equip' that puts out HEAT indeed ..rather then LTC ASIC equipment ...I doubt Xcel Electric Energy Company... means for it to be used for a discount in
 
such a manner....as "winter home electric heat' etc....but who am I to tell the nice lady... it was her idea and she "flagged it" as such...(again this is a REGULAR Xcel rep on the customer

line after hours....I doubt this would work...if they xfered me to someone who goes out and checks stuff like this during the day...so call after hours on this is my recommendation..the

regular Xcel help line on billing issues it was)

So I go ...will I need an "Inspection" or something for this to go thru? (Hey what do I care ..they come by .....look at miners...grin...and go nice try buddy...again...the

nice lady flag'd this for me..helpful soul that she was...so worse that can happen is I pay my regular 13.7c kwh rate I expect to if they give me a big NO!)

She goes ...MAYBE.....but probably not in that she says she already flagged the account and they should just look at it and 'rubber stamp it' as such...especially looking at my

'logical' increase of $225 in electric costs from last year (before big ass miners) etc etc...all looked very cut and dried to her

So anyway I have sat on 'pins and needles' all month waiting on this and today got the 'good news'...

My previous bill of use of about 2505 kwh ....it came out to (again this is with fees/taxes/local/etc just the 2505 divided into my monthly bill (not budget) I think it was like
 
@235 or some such)

Anyway I did the figures and it comes out to a now electric rate of NOT 13.7c kwh ..to the current rate


wait for it...but for the next 4-5 months (probably till April bill due in May 2015) of

9.2c kwh!!!!!

Was a $115 buck savings per MONTH..you add on to the fact that at 2500 watts of 2 Titans in the basement heating the house (so far) and my GAS BILL on budget has gone down

(according to the Gas Bill from before miners) of 45 bucks.........from last year a month..this is working out damn nice for Winter Mining!

I"m gonna be $160 bucks ahead with miners in the basement with Gas Heat savings from normal budget (pre-asics)  and Winter Rate Elec Heat rates as noted above!

So anyway..call the 'REGULAR HELP REP" ...probably 'after hours' like I did .......make up a 2nd question....look on back of bill  and go 'innocently' ask

'what is this winter electric rate for home heating discount I see here (xcel bill) ...and try something like the servers in basement etc stuff above

you could get lucky...and hell again I'm not lying at all .....the damn bitcoin miners in 'electric heat' are heating the majority of my house heating needs this year

I have used like 9 therms of Gas in November...jeez ...I should be using something like 200 to 300 themes...it is all miners heating house for me so far!

Anyway ...maybe my situation was a 'fluke' but take a chance ..talk to your electric rep... with a call ..with your giant jump in electric bills since you plug'd in your Home miner....they look

at your last year electric  use and the most 'obvious' reason from their point of view is you 'obviously' have electric heat now...but again giving them the
 
'computer server equip' line of cool in summer and heat in winter to 72F ...seems to have done the trick ...I could have just been lucky..but I'm posting it

on this thread because I bet you have more then a 50/50 shot of pulling this off also ..again IF you talk to the regular customer billing rep (Xcel for sure) after hours

so they don't bump you to some 'tech folk' who would not buy the 'server equipment in basement' argument...just saying...

man it sure helps the old LTC calculator now ..at $115 bucks less electric a month to mine (2500w) and of course my previous winter savings on my Gas Heat budget from

pre-mining from before the asic's hit the basement that $160 bucks a month compensation for these 2 KNC Titan ASIC beasts ...sure does help!

Now it looks like if I can find some 'appropriate' used asic or btc miners 'next winter of 2016-2017' this STILL MAY WORK FOR HOME MINING...even NEXT Winter!

Also you only tell them WHEN you switch back from electic as your primary heat source ...to gas again. (I will do so promptly for all I know they can call the Gas company to see if I am

legit on my Bill) ..but.....hell if BTC prices (i convert ltc to btc) goes up etc this next year...as I really, really hope with halving....... I may NEVER have to change back ..till say 2017!


anyway ...sorry about the length....... but folk who can pull this off ..it is a BIG DEAL.....if you do pull this off also ..post here in thread and feel free to 'tip' to the

address below...it can be 0.000002 btc or some such ..it is not the amount..but the....thought that this helps someone that counts......(I like to keep score on advice

lame as that may be.)


I would like to see everyone who looks into this with any kind of ASIC (BTC/LTC etc) be able to pull this off if it applies to their situation......so let us know how it works out

and please post your results here.


Good Luck! (hopefully this is a slam dunk and you won't need it!)

Searing

Tips appreciated if this helps someone:        (however meager/modest appreciated as a way to 'keep score' on my advice here)

BTC address: 1PbhCD56EE1ur45UvTca5wEUkAPpTi25oq          LTC  address: LTF6G3ncCsAJ9svJt3q8vvKdZtAAvJ4cdM

Here is the Ebay Link. We will see how it goes..if you want to jump in..will take BTC or LTC equiv for whatever price. (thou paypal for you all is probably safer)

http://www.ebay.com/itm/Game-of-Thrones-Sword-Catspaw-Knife-Serial-001-of-2500-HBO-Valaryian-Steel-/151914436841?hash=item235ece58e9:g:k0AAAOSwAKxWbQ~T

not many #0001 Valayrian Steel Licensed and HBO Licensed Reproductions out there, and this price is lower because it is a KNIFE not a sword.

Anyway if you are interested (or not why it is here in the for sale area)

 Well cex.io (ghash.io) has dumped its alt mining multipool operation (see below)

http://www.newsbtc.com/2015/12/06/cex-io-terminates-support-for-altcoins/

 Is this why we've had like a 24% jump in LTC difficulty the last few go a rounds?

 Have there been other multipools dumping their multipools as well..is this a trend? .... that I am unaware of?


https://bitcoinwisdom.com/litecoin/difficulty Note: since Nov 29th difficulty rise of 24.26%!


LTC difficulty jump below. Anyway my 'premise' is with the abandonment of 'alts of a dubious nature' and multipool of alts....is everyone running back to LTC or am I full of it?




                        LTC Difficulty History
Date                   Difficulty     Change       Hash Rate
Dec 06 2015    50,115    2.61%    1,435 GH/s
Dec 02 2015    48,842    19.44%    1,399 GH/s
Nov 29 2015    40,893    2.21%    1,171 GH/s
Nov 26 2015    40,010    -5.51%    1,146 GH/s

Anyway your thoughts. I will assume I don't know wtf I'm talking about but would appreciate the conversation in that I'm mining LTC to BTC currently don't ya know,
so kinda would like some clarity on some of this stuff. Thanks.

This was found on the www.litecointalk.org forum for anyone interested...not sure how legit it is ...but here you go..the orig www.litecointalk.org link is below

https://litecointalk.org/index.php?topic=28046.0;topicseen

Who the hell knows when it will show up on market...but considering I can get a  USED KNC Titan 1st batch now off ebay for like 3K it better be soon at that price

So 2 versions (see below) 128mh ($1,299 usd) and 512 ($4,950 usd)


anyway whatcha think ...too much $$$ and not out in time to matter much too boot?



quote from above litecointalk.org posting



Launched last year, our Alchemist successfully won 20% of the entire LTC mining shares.
Thank you all for your support of AlcheMiner.
Now to your delight, we are thrilled to initiate a new Scrypt project.
The AlchemistII will bring you a whole new level of mining experience!


About our team
Mr. Tom Soong, CEO of AlcheMiner, has accumulated abundant RTL development experience in Digital TV and Digital Media Player chips when he served Realtek Semiconductor Corp. He also supervised world’s first 28nm Bitcoin miner IC development project. Our engineering team comes from Mediatek and Realtek and boasts decades of system-level and IC design experience. AlcheMiner’s core team graduated from U. C. Berkeley, National Taiwan University, National Tsing Hua University, and National Chiao Tung University. With a solid technical backgound, AlcheMiner launched its 1st generation 40nm scrypt miner last year which relentlessly beat our competitor’s 28nm miners.

The brief spec is as below.
Scrypt 2 chip:
*Hash rate: 2Mash/s
*Power consumption on the wall: 3~4J(1.5J~2J/MHash)
*TSMC 28HPC tech node
*Full custom design
*The value may change in the real product

Miner:
AlchemistII-128
*Hash rate: 128Mash/s
*Power consumption: 280W(on the wall)
*2 hash boards
*Built in control board
*Plug n play
*Support BFGMINER update
*Traget reseller price: $1299
*6 month warranty

AlchemistII-512
*Hash rate: 512Mash/s
*Power consumption: 1150W(on the wall)
*8 hash boards
*Built in control board
*Plug n play
*Support BFGMINER update
*Traget reseller price: $4950
*6 month warranty



end quote from litecointalk.org posting
See the poll also

Anyway for whatever it is worth enjoy


edit re-read the above they expect these out in SIX MONTHS lol So yeah gotta love the 'optimism' on LTC and ALT prices don't ya know

 
Well what do you think guys. American Express is teaming up with Abra and looking at Bitcoin and the Blockchain thereof
 
  http://www.coindesk.com/how-american-express-is-testing-the-waters-of-bitcoin-and-the-blockchain/



American Express in the above article said they are primarily looking at how blockchain and how it all works but seem to be open to using bitcoin
from the below quote.

quote

"Sanghi left the door open to support for bitcoin by American Express, stating:

“Let’s see what currencies are important and we’ll transact in the currencies that our customers want to transact in.”

unquote

Well that is somewhat more refreshing then some stuff I have heard from credit card companies. Anyway for your consideration feel free to comment on how
big a deal you think this is..myself I'm hoping for the 'bandwagon effect' everyone is trying to jump on the float on the parade before it picks up speed




   

Well this Ted Talk on virtual currency/Bitcoin (5/27/15) video from Helen Wong an attorney FTC sorta came out of nowhere.....like that she kinda gets it (hubba hubba)
well anyway for what it is worth..its bitcoin and it is a Ted Talk ..has to help BTC I guess?


https://www.youtube.com/watch?v=i6PAazB5_f4

Well consider me confused (or more then usual)

Litecoin difficulty just jumped up from the halving in the below manner (see chart below) by 6.63%



Sep 03 2015    41,832    6.63%    1,198 GH/s
Aug 31 2015    39,229    -6.11%    1,123 GH/s
Aug 27 2015    41,782    -7.61%    1,196 GH/s
Aug 23 2015    45,224    -0.50%    1,295 GH/s


So since halving (up till this last one ..not including sept 3rd we had a 14.22% decrease in difficulty...ok I got that part.... 1/2 the miner revenues
old equipment shut off etc now to what I don't understand is this

Now this current sept 3rd 6.63 difficulty INCREASE of 6.63%....(which makes the total decrease in difficulty since halving imho a lack luster 7.59 current difficulty
currently)

Well as I said confused....so what is the reason from the following (also on poll)

1) people are just stubborn and will keep miners on mining LTC for a loss for next few months in denial?

2) some Chinese asic scrypt data hall miners or whatever hitting the network I'm not aware of (folk that speak Chinese please scour china for scrypt asic makers..i myself
suspect they are hanging out with unicorns..but just in case)

3) EVERYONE is abandoning other crypto ALTS to run to LTC at this point in time...due to lame prices...ie like lemmings to the sea?

4) A lot of miners have shut off ..there are just a hell of a lot more 110gh and above miners out in the world (alcheminer/knc titnans/innsilicon) that I ever expected
and really a 7.59 percent drop is all she wrote....just that many big units left in the scrypt world ..thus no real drop due to old equipment (that can't be right ?)

anyway thoughts but unless someone can find a hoard of Chinese asic miners being made and deployed I'm sorta at a loss on wtf is going on

I suppose knc could have started a 'stealth' knc Titan Data hall (hey evil empire and all its what they do..doubtful...but still)

please share your thoughts and take the poll

 Well there may be SOME KIND OF JUSTICE in the world. It seems in a Japanese Prison they put you to work. So if Mark Karpeles from MT.GOX fame is convicted
 and goes to a Japanese Prison he could be (hell probably) making HELLO KITTY items. LOL

 here is one of the links I found mentioning this unique way of punishment (the horror)

http://aminkamil5c.weebly.com/japanese-prison.html#/

 The irony....virtual coin swindling and now virtual toy making ...the circle of 'HUH' continues

 I live for the day we can get pictures of him making such in his little orange jump suit!

 Ok at around 2 months after Litecoin Halving, where do most of you see the price at?

 The 2 month timeframe is arbitrary, but should be enough time after halving imho to more or less have found its mark
 by that point in time. Anyway IMHO.

 Feel free to comment on why this should or not be so (your guess) and/or other reasons for your projections.

 Enjoy  the Poll and be sure to post your best guess for who was closest 60 days after halving to the price at that time


edit: I suppose you should also post your 'best guess' here and if this thread lasts we can see who was the closest on the price
       at 60 days after the halving...just for fun....use usd.

       My guess is $4.60 usd 60 days after the halving of Litecoin.

  Just a link to instructions on a BUILD IT YOURSELF .... how to run either a BTC or LTC node on your raspberry pi 2 1gb version (newest)
for those wanting more blinking lights in the basement or are missing the old home miner equipment and desire
to contribute to the decentralization of either network.

Anyway here is the links

http://raspnode.com/about.html   Main Page

http://raspnode.com/diyBitcoin.html  DIY Bitcoin Node Page

http://raspnode.com/diyLitecoin.html DIY Litecoin Node Page

Feel free to take the poll if you want also

Enjoy!

 Hope this video is correct

  it is free

   Ulterior States [IamSatoshi Documentary]  especially the part about 'State in a Box' at the end of the video
as messed up as the world is and all that could really kick start BTC as legitimate big time

https://www.cryptocoinsnews.com/new-documentary-explores-roots-bitcoin/


the direct youtube link ..... State in a box is at the end of the video ....wow!

https://www.youtube.com/watch?v=yQGQXy0RIIo

below is my rant on this on a LTC Is dead thread....figured it needed its own thread so i can get beat up on this properly

https://bitcointalk.org/index.php?topic=980998.msg10745602#msg10745602

Basically as the title says I am wondering what is gonna happen to LTC directly and POW coins in general when the last of the NEW and LAST
scrypt miners from KNC ...the Titan 400mh-450mh 2nd batch units (again last made) of around I heard 2.5k of units hit the world.

The effect (mainly) on LTC in that is about the only thing of note any Titan 1st batch or this last batch can mine with full out speed...and
the effect it will have on LTC /POW coins and in that there are NO FURTHER UNITS OF SCRYPT EQUIP BEING PLANNED OF ANY KIND HOME
MINER COMMERCIAL OR DATA HALLS ie...this be the last

below is my ramblings on what I see as the 2 choices all no roi no refund Titan users have from their somewhat 'dubious' future from back
in the day..so again will this splash of the LAST and the BIGGEST scrypt units ever made hurt or help LTC and/or by extension hurt/help all
POW coins?

again it is possible with a jump in BTC price and LTC and other ALTS haning on the coatails of such and also rising..if say it hit 600 BTC or 5 buck
LTC or some such...you would see MAYBE some equip annoucements either for commercial/home or data hall scrypt projects....but even so that
would take 5-7 months imho in that again there is NOTHING in the works by any manufacturer of any kind right now being planned beyond this
last 2.5k of units hitting the world of scrypt

anyway my ramblings below be warned ...again I own a Titan so my perspective is from the point of wtf am i gonna do and wtf is gonna happen
when this last 2nd batch of titan units hit the world and viola...nothing after? weird

a poll is also added feel free to chime in there on your best guess as well

NOTE: long speculative rant ...and i've  no idea on outcome ...either way LTC dead or otherwise..just the position of an asic miner at this point in time (ie stuck)
         feel free to skip below and/or put me on /ignore...i don't mind...you've been warned ramblings below.....(again asic miner skewed perspective to be clear)


so I'll give you why I'm mining LTC and holding (not that as you will see below i seem to have any choice) ... due to limits on full hash on equip (best LTC) and the stupid
knc titan no roi no refund purchase in the first place..

the setup:

now from my miners perspective.....from when i stated mining LTC (the only thing by the by that a Titan can mine full out with out a lot of hassle at least the first 3 months
not sure about current firmware) Nov 8th 2014 when i fired it up i was getting like 5.8 LTC on ghash and it was 3.80 a LTC now.  I'm getting on the 1 Titan 8.2 LTC per day..and the price is 2.00 usd ....so from my (admittedly dumb!.. knc purchase of the titan back in the day ..getting out of the hole $$$$ wise) perspective diff now is actually lower then when I started on Nov 8th mining LTC (hey it was my only choice with firmware/software on the SD at the time)..so sure i've lost a bit..but with diff unchanged and what i get out of the titan now per day vs when i started it up...anyway you can see my point on why (at this time) i'm mining LTC as fast as the little bugger can fly!

so...from the miner perspective...i've been mining LTC like all get out and the price has been around 1.70 to 1.80 say.. for a lot of that time....diff again is lower then when i started and from that point of view all is well....may not know where i am or where I'm going..but damn I'm making good speed

also I'm holding on the 'vain' if desperate hope that this mistake of a purchase of a knc no roi no refund titan 300mh can be 'lessened' as a loss somewhat by a 'hopeful' (if futile) chance that LTC will pop or at least stay at the 7/10's of a 1% it is now as BTC rises and again due to the fact of the firmware/software SD on the titan units....you can mine full out on LTC and if all else fails convert directly to $$$ or other POW coins on the fly..using multipools...but again what ya gonna do mine another ALT at 200mh or mine LTC at 300mh and convert or cash out....so everyone with these large 1st batch asic units are mining ..imho..even if not holding LTC initially


The choice of one out of the two below likely outcomes imho:


so anyway one of 2 things will happen to LTC (also realize my situation owning these miners skews my perspective)

thanks for reading..be interesting to see what happens

Well just a bit of info I am in the 'odd' situation where I am a LEGAL miner in USA  under the IRS 2013 virtual currency guidelines on mining (long story bank screwed up called up SEC saying I had shipped 90k worth of money orders over seas...it was 10.1k to KNC in Sweden ...ie was THEIR bank error..but at that point felt i needed to file and such ...good thing bank even after I proved it was their bank error they STILL tried to get me in trouble with SEC as me NOT being a biz....a nice filled out ameneded 2013 tax form from the CPA fixed that...Assholes!0

anyway with that in mind and the fact I know some of you are not in this position and are wisely imho waiting on your stash till this all gets more clear in a few years and then maybe
you will announce assets to IRS with a 'MAN IT WAS A REALLY GOOD YEAR" with a straight face after probably mining 3 years lol..


anyway....the catch is 2013 ..should have paid (imho) 4k of taxes on income made mining ...paid NONE got a bunch of equip depreciation that will go down for 5 years...I was
pleasently surprised....

2014 just filed my taxes this year made...according to the IRS 19K or so mining etc...thought my taxes were gonna be 5k or some such..but after the equip depreciation I had and
the sale of a miner etc ...i came out with a 1.5K capital LOSS THIS YEAR...ie paid no taxes again

looking good right

now for 2015 I will have 4.3K of equip depreciation etc left..so that means if I want to show a profit (you need to show a profit 3 out of 5 yrs) i need to make more then that ..it seems likely even at this point I can pull that off

BUT here is the catch....I've NO FRIGGING IDEA with out some kinda home mining how I can show revenue to get the next year after 2015...that of 2016 the approx 2.15K or so again for 2017 and whatever remainder (very modest likely less then 700 usd) for 2017 projected

I suppose I can LIE one of those years to get 3 out  of 5 years at a profit to protect my past no taxes due and equip depreciation...but it is looking dicey to say the least



so anyway I am in the position I kinda sorta need something in 2016 and 2017 that I can mine at a modest level ...even a bit of a loss to show revenue to the IRS of some type
(ie i be a farmer ..i needs to be farming crops don't ya know)....I suppose I could get USED equipment? I am kinda doubtful on some co-op venture of shared equip/costs etc in some kinda co-hosting arrangement (i again doubt cloud hosting would count on this???)

so anyway long way around to explain my need for home miners and/or some kind of group co-op (like a grain elevator co-op of farmers) say on equip/bldg/expenses etc....but I assume you  would (for the above tax breaks) need to be a part owner of such an enterprise and not just a cloud hosting per say

Does anyone know of a non-profit (ideally) co-op type arrangement for mining coin in such a matter ....I assume up to this point it has not been an option in folk like
myself could simply home mine...but with my above situation has does anyone have anyone legit that does such data hall stuff (or shares) on a small enough basis to pull this off?

Again cloud hosting (see my tagline below) I don't think has the chops to pull this off....I think from my IRS situation .they would want something more along a partnership (even a small share) and/or co-op arrangement

anyway ...perhaps I'm wrong and cloud hosting for my purpose would work for the IRS as mining (doubt it) but fishing for info here...if I can pull this 'legal' miner biz off due to the luck of the balance it seems of the equip i have gotten vs what I've mined up to this point...I'd sure like to run it out the last 2 years showing mining revenue in some manner to the IRS

thanks for listening.....looking for legit stuff in this area...if home mining is dead...and cloud mining does not have the chops for this imho IRS requirement wise my only real hope
is a limited share in a physical group mining operation..and that of course leads me again to the example of farmers in more or less this same situation ..ie co-op?

(at this point not sure if i should send my banker for being asses a fruit basket or not...so far it has worked well...assholes they may have been to get me here)

anyway advice on the end game here if home mining is dead 2016 and 2017 it would be nice by hook or crook I could run my last equip deprecation due out there of around 4.5k
in my favor by showing some kinda mining revenue ...even if at a bit of a loss just to show i be a 'farming' so to speak

thanks and I know this may not apply to a lot of folk my situation but hey the work around has been working so far...again looking at a way to wrap this up if home mining is
really dead (or hell i just lose them last 2 years of 4.5k or so of equp depreciation as applied to my taxes due etc)

thanks appreciate the advice for my somewhat 'half assed' way I backed into being a legal usa virtual currency miner (sigh)

Here is the link to the info that mt.gox used bots to manipulate price....(I know it is a big yawn....everyone figured this out a long time ago)

but for those that are interested here is the links

https://www.cryptocoinsnews.com/mt-gox-trading-bots-manipulated-bitcoin-price/


also the wizsec security link on how they got this info for the above article

http://blog.wizsec.jp/2015/02/mtgox-investigation-release.html

and anyone more knowledgeable about this kinda bot useage and/or if/who/what exchanges 'may be' into this kinda thing ....

feel free to chime in ...(or not)

Well kinda being an ass here...but here goes...

The question is bitcoin/and alts doomed from the first 2 bubbles of price and
excessive mining (imho) as an investment (compared to price and demand)
to be the 3rd bubble...as yet another roller coaster drop and
balloon going pop?

1) 2013- 2014 price bubble popped...ie slammed..

2) 2014-2015 (now) the miner/data hall bubble popped...too much resources into miners/data halls vs demand/price crash
for demand/adoption and useage...ie mining...slammed...

3) 2015-2016? the adoption/USEAGE?infrastruture/as an actual means of use for bitcoin/and alts...is that the next bubble to pop?
   (ie slowdown of bitcoin/altcoin/adoption due to above other 2 bubbles with price tanking and press FUD) and way too much mining
   (i hope not just saying)

hope I am incorrect....but if adoption  is the next bubble we are all screwed imho....how likely do you think it is to happen
due to the price bubble going pop and now the issues with a mining bubble imho? ...see the poll...

In my own uninformed manner it seems like if price tanks/mining is no longer profitable vs difficulty and price for most of us
big and small ....and cloud mining as well is in this boat...can useage of bitcoin and adoption be the next likely to pop?

Searing

Having made the somewhat dubious purchase NO REFUND NO ROI KNC Titan 300mh scrypt miner
and finding out after electricity at 15c/kwh is taken out of such I make about $22 a day

I had a Eureka! Moment

I can easily MINE all the crap I have in the ATTIC on Ebay and get $22 bucks a day after postage

(you have an attic for 40 years you find you have now a collectible treasure trove)

So ATTIC MINING is probably the next best thing to cover your dubious miner purchases of 2014

(cardboard boxes extra)

Then WHEN I get all the crap sold out of the ATTIC and turn it into a REC ROOM ....it likely in this
area would increase (at least on paper) my net worth of my house easily by the $10,131.80 I spent
(in error) on this NO REFUND NO ROI Titan (pick your own personal dubious miner choice here BFL, KNC
Black Arrow, Alpha etc....common you KNOW we all have screwed up some equip order?

all humor aside.....the truth is doing the above and the rec room plan above is a win/win at the
very least I cover some of my losses on this beastie...get an attic cleaned out and get a rec
room....invite people over ..get a life...stay away from internet/bitcoin etc

anyway its true I can prob go as long as the Titan runs selling stuff for $22 bucks out of my attic
...probably longer......just needed being stupid as a kick in the pants

(the stuff people do with rationalizations to compensate for stupid purchases...)

rationalizations make the world go around "the big chill"

https://www.youtube.com/watch?v=X9FJiDFVoOo

   
   
    Well I called my local elec utility (xcel) and asked about this a couple months back...supposedly over the phone they said if I could show biz (yep i'm a biz) in my home (yep home
    office IRS all that setup) and my elec use is I think they said more then 1/2 my current use (yep fire up the GPU tower...two laptops with putty....the 'ahem' biz desktop for books         (really will i stoop that low just toss up a few more watts...yep) the KNC Jupiter oct 2013 (about 700w?) the no roi no refund 300mh (someday) Titan ( 1400w or some such)

    yep think I have it nailed they had no problems it being a house

    I doubt you even really have to prove to xcel you are a biz...i mean who'd have all this industrial type server looking stuff in their home if it was not a biz right?

    they did say that there is no 'budget' plan on elec like if residential rates and that the fees on commercial are higher so it MAY not make any sense to do this ...just to pay in full each month (no budget) to save say $10 usd a month or somehing silly

    anyway I'll let you know and see how fast I can get something setup..it is free supposedly (again this is all from a phone call couple months ago) they stick on a watt meter and go
    'yep you be using juice indeed' when they see the Titan hashing

    anyone else do this for home use yet? if so pipe in here...I figure it will take them a couple weeks to set this up...be nice if I could save 20% in elec costs off my 15c/kwh on this
    somewhat dubious Titan purchase (asic gods give me scrypt N or all hope is loss.....)

    anyway after this (one way or another) baring driving around with the asic in a van and stealing elec from wayside rests in the area......i have no other angle to cut costs

    then again they are a group of nice little space heaters the bsmt is cozy

    again imgur link to my somewhat demented mad scientist lair in the bsmt (pics)

    http://lostgonzo.imgur.com/


    well ..I"ve had dumber and more expensive hobbies....but at that point in my life (fast cars) at least I could get girls.....asic machines not so much)


    If anyone else has had any luck with the above post on here

 me I'm in upper midwest ....xcel energy is the utility and it is 15c/kwh so we will see

I don't see any reason for the price of Bitcoin to stop dropping  ...even down to the $150 usd or so mark my somewhat 'lame' reasoning below....

assuming that bitcoin is actually following this type of action below (note: edit diff chart...scary thou it is)




again if the above is correct and this bubble (if I remember correctly) started last Oct 2013 (I got my knc Jupiter 550gh on Oct 18th 2013 when  BTC was $150 usd)

then again if the above chart has any merit...it will go BACK to about $150 usd ...before HOPEFULLY it rebounds or not (ie dead cat bounce and such) to another bubble?

right now ...it looks to me like it is following the above down the line...so imho (not that I know squat) $150 usd looks possible before it either dead cat bounces to oblivion

or starts upward again ....into another bubble (I'm holding hope this is the senario...but lately with bitcoin prices dropping adding to my stress/pucker issues)

HOPEFULLY $150 usd would light a fire under everyone and BTC would rebound ...maybe even likely into a bubble again....(hey a person can hope)

anyway comments on why/how this is following such a chart above and what you think the likely outcome will be rebound or dead cat bounce

or hell maybe there is actually NO way to tell at this point ...but again imho the above chart is 'daunting' to say the least!

NOTE LONG POST  WARNING FEEL FREE TO SKIP (or put me on /ignore or whatever)

ON FINDING OUT BY HAPPENSTANCE that being a LEGAL MINER according to IRS in USA may NOT be such a bad thing......(shudder bare with me)

well ...for those who know about bank error last summer and me forced to file as a "legal miner' in the USA....well....everyone got a good yuk yuk on my account
(hey bank error...to keep all happy looked really really good i was legit alt coin business according to the 2013 alt currency USA guidelines don't ya know)

anyway....supposedly owed 4k last fall for mining did not have to pay zip...same is prob true of this year due to equip orders etc (which the IRS lets you take
off as computers 5 years 100%....essentially 20% taken off gross income per year as applies to your taxes... comes out to .ie 25% in real cash if you have a tax bill due
on payment....they won't give you $$ but will take it off tax bill owed....(not a problem for me)..so equip wise did not have to pay the 4k last year 2013 when
I backed into being a legal miner....so that Titan now instead of 10k costs me in real $$ as a legal miner only 7.5k with tax breaks...well got my attention.

Also all them nice coin the IRS told me I had to pay mining taxes on 1100 coin from DEC 2013 at 25% (well equip got me out of the 4k tax bill but still) if I was
to sell that now at 300 and show a loss...well probably will hold.... but have other options if btc really went to 10 bucks or some such..you can add to the fun
and FURTHER lower your taxes ...like if you bought land at 1100 and sold it at 300 a capital loss..I don't plan on doing this but an option as well.

So for those who were 'equipment heavy miners"  or got a NO ROI KNC Titan for 10k like myself plus other equipment that may or may not be the wisest thing
you've ever done..you MAY want to ask your CPA if perhaps going legal... as an alt currency biz is the way to go
to salvage something this year if it really really goes way south of 200 usd or something silly....if by doing so you can salvage 25% off of your BTC equipment
in depreciation (5 years considered computer equipment)  and pay no taxes as was my case in 2013 and likely this case in 2014...well hell worth asking a CPA
I myself can only go by 2013 (did not have to pay 4k taxes on mined coin) and 2014 (likely the same)

BE AWARE however I have no other accounting issues ..i pay on what I mined...I HAVE ALWAYS HELD so no issues with that accounting mess under 2013
quidelines tax wise........you hold them after you pay your (or in my case offset by equip) taxes of 25% mined....thats it...holding you are golden....tax wise.
and again due to equipment I had that offset any of the 4K I should have paid to IRS in 2013...same is likely this year with btc price.

If BTC goes below 200 usd (when I start to go underwater)  imho we are all screwed anyway ....my views above are options to salvage what you can ...but from where I'm sitting
right now...it is looking better then if I WAS NOT a legal miner *hard to believe I know but so I've been told by my CPA...* but again I was backed into this
my situation my be unique.

hope this helps ..and again I'M HOLDING ..still have every coin I ever bought or mined...as to others with more complicated IRS issues avoid
the above advice..but for me holding with my equip investments like myself you may want to ask a CPA.....As to myself and the reason
for this thread....I looked around and went ..well this could be worse!

again just my circumstances that MAY help someone else in perhaps over their head with equip/and price they
got into BTC at..this MAY help ...but only your CPA could say for sure...and again I've always held on to all my coin
be sure to keep that in mind as well when dealing with legal miner status to IRS..my situation may be simplified compared to your own.

Searing