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Thank you for answering my question. Correct me if I am wrong but buried under the discussion of the business model I am sure that I read you already working on your third generation chip? Wow, that is very aggressive for a new company. I am not saying that is bad actually this could be extremely very beneficial much like bitcoin high risk high reward. Can you give any specs for the 3rd gen chips? or is that currently hush hush?
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Guys,
Let's keep the discussion civilized please.
We're committed to distribute the hash-rate. It will become evident very soon.
The days of small DYI miners are almost over. We're preparing for the next phase of mining while taking utmost care to distribute the hash-rate.
Can you please clarify this statement it seems very contradictory. How can you be working with a goal of spreading the hash-rate when you have the belief that "small" miners will soon be extinct? This screams centralization of hash power. |
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I truly hope this guy turns the Ants back on and says this was his "warning." It is getting harder and harder to find trustworthy people in this community. I was scammed out of $2300 about a month ago so I definitely understand your frustration.
I can tell you that monitoring the wallet address is useless since it very easy conceal BTC movement. Part of the advantages of BTC can also be used maliciously unfortunately.
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I am sure that you have read IRS Notice 2014-21 Question #8:
"when a taxpayer successfully “mines” virtual currency, the fair market value of the virtual currency as of the date of receipt is includible in gross income"
What about CEX.io? If you don't transfer the BTC out of the site, but reinvest what is the scenario? Did you have taxable income then use BTC (property) to purchase an item which essentially creates two taxable events? Or would this be considered not for profit since all gains are reinvested? I do not have a clue. Once you cash out I understand what the ramifications are, but this is just one of many questions I have. The biggest being if this is considered a type of self employment, I want to know what is considered a deductible expense. |
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The article I read and this subsequent website states the Heart bleed bug has been around since 12-11. http://heartbleed.com/This is incredible... who found the bug ? Wladimir ?
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Meeting Minutes Overview:
Refined the prototype focus towards new asic chip Hornet then Wasp for April as there is excellent support from the 3rd party chip fabricator.
Discussion of internal production numbers for the WPC.
Discussion of financial outlay for chips and production.
Discussion of long term vision for next generation chips and pricing of gh/s projected.
Need for more EE's and members.
Discussion of IPO for funding future Wasp / Hornet production.
In general there was a lively set of discussions on a wide range of topics that focused on the future production of miners. We are currently focused on getting out to community the Hornet and Wasp and potentially a specialized card to test in 2 phase cooling with a HK company.
Are these more public members similar to those that joined at the end of last year? I regret not joining. Thanks. |
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Not a tax expert, but some of beatljuice's list could possibly used as tax information for US miners since mining income is considered a type of self employment so now you can keep up with ROI and HOPEFULLY get some tax breaks. I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...
Spreadsheet.
Cost of equipment
Electricity (Don't forget cooling and lighting)
Repairs
Re-investment
Current value of equipment (depreciation is fast on mining equipment)
Time (most people don't keep track of this, but at least keep it in mind)
Snacks/entertainment (Do you have a subscription to Pandora you listen to while working? Need energy drinks to stay awake?)
Mileage (Had to hit Fry's for a power supply?)
Space used (Renting to your business is a good money maker/write off)
Internet access and equipment
It can be kind of fun, and I'm sure I'm missing things.
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Last post since I don't want to derail pcfli's thread, but when you start a reply with "FYI,you will lose money and this miner is no longer profitable" in someone's thread who is selling miners instead of the appropriate Speculation section you should expect some upset miners. There is always going to be the debate of mining BTC vs. investing BTC, but again this is not the appropriate place for that discussion. Who will support the BTC network if people didn't mine? Purchasing miners with BTC strengthens BTC value and is another transaction for miners to confirm. For a healthy BTC ecosystem you must have investors and miners sometimes they are not mutually exclusive. Anyway, thanks to those who have purchased Dragon Miner rebate coupons. I have 11 more $50 rebate coupons $35 each or $50 buy on get one free. Assuming a static BTC value you maybe correct, but it was only a month ago that 1 BTC = ~$650 so it is extremely difficult to speculate on BTC value and mining. I will gladly invest in your crystal ball that gives you the ultimate knowledge. FYI, this is no longer profitable. It currently costs 6.4 BTC and at most you'll get back 5.5BTC with 17% difficulty increases. At most, you can hope to break even by selling the miner.
Jeez why is everyone so defensive? Just giving a heads up. All I'm saying is that if you were to invest money now, it would probably be much better spent buying BTC. You will end up with more BTC in the long run. If you buy the miner, it would currently cost $2900 or around 6.4BTC. You will mine at most 5.5BTC and if you sell the miner, maybe you can get 1 more BTC. Maybe. It's a losing deal no matter how you look at it. Lee is rolling in the dough now. He has hired a few hotties to "work" around the office.  Beware of scams. I just received a message from someone claiming to be selling units in this group buy that was not pcfli. Be safe.
I have hired two girls to send advertisement with the account leegroupsale.1 and leegroupsale.2, but your guys still need to confirm the deal with my account: pcfli or email: peicaili@gmail.comsorry for the confuse, |
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The issue is not ckolivas's opinion or his request for the software even if he is the developer. He released cgminer under a GNU general public license which allows modifications to the software, but in an effort to promote growth and open source those changes must be made public since the original code was public. https://github.com/ckolivas/cgminer/blob/master/COPYINGThe manufacturer is hopefully aware of these requirements. I would like to respectfully request you post your hardware driver's custom modifications to the cgminer source code as per the agreed upon license when you chose to develop on cgminer.
Sorry, CK, i will transfer your opinion to the factory owner, but i canot promise anything, However, they did said they will let user to change frequency and other cgminer related factors into the controller windows, they said they just want to make the interface as simple as possible, i one ask them type both the chinese and english into the interface, but they prefer to choose two version because of that will make windows too complex, another issue is about the chip, it seems like when it runs at high frequencey, it will lead to many HW error, maybe they donot want to user destoryed the chip by over-clocking |
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Assuming a static BTC value you maybe correct, but it was only a month ago that 1 BTC = ~$650 so it is extremely difficult to speculate on BTC value and mining. I will gladly invest in your crystal ball that gives you the ultimate knowledge. FYI, this is no longer profitable. It currently costs 6.4 BTC and at most you'll get back 5.5BTC with 17% difficulty increases. At most, you can hope to break even by selling the miner.
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Thank you for your support. Please leave trust feedback when you get time. I greatly appreciate it. I have sold 2 $50 rebate coupons leaving me 15 more which can be purchase for $35 individually or $50 buy one get one free. Thanks to everyone who has supported me.
I just wanted to thank firejuan for a very smooth transaction. Thanks again |
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I have sold 2 $50 rebate coupons leaving me 15 more which can be purchase for $35 individually or $50 buy one get one free. Thanks to everyone who has supported me.
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Fortunately, the author of cgminer is a Mod of this forum so he can fully clarifly the licensing. Two A few questions: - will your driver and/or mining software be open source?
- In the case where GPL code is used, will you respect the license and post your modifications? You know, unlike your competitors (I'm looking at you bitmain and lketc
 ). - will you make your circuit schematic docs open source - or at least available as PDF?
If the answer to the above questions is 'no' how exactly do you expect customers to maintain/repair your products? One more question: how long do you plan to support the product e.g. firmware updates for bug fixes, new miner software versions, and performance improvements? Hi all, As I said I just can answer the question regarding the sales and distribution. some of these questions will involve technical and I may not be able to give the perfect answer. While I will answer first and beeminer will make up if I missed some. 1, We use CGminer as mining software and we based on the open sources CG and developed by our own team to suit our hardware. at the current stage, we will not be able to open source. I believe others won't either.2, I can not answer this question at the moment while our Beeminer.com will have support document in the near future for end users to upgrade the firmware and some technical support. for all the products we sell out we will provide 90 days repairing and replace warranty. While we will not bear the mining lose during the repair and replacement. we will make sure all the product is working fine before sending out. and when customer received the unit you need do some generally checking especially the wire connection before fire up. Thanks Jbcheng As per the GPL license you must supply source code and all modifications. This is mandatory.Here are some relevant snippets from https://www.gnu.org/copyleft/gpl.html: When we speak of free software, we are referring to freedom, not price. Our General Public Licenses are designed to make sure that you have the freedom to distribute copies of free software (and charge for them if you wish), that you receive source code or can get it if you want it, that you can change the software or use pieces of it in new free programs, and that you know you can do these things.
To protect your rights, we need to prevent others from denying you these rights or asking you to surrender the rights. Therefore, you have certain responsibilities if you distribute copies of the software, or if you modify it: responsibilities to respect the freedom of others.
For example, if you distribute copies of such a program, whether gratis or for a fee, you must pass on to the recipients the same freedoms that you received. You must make sure that they, too, receive or can get the source code. And you must show them these terms so they know their rights. and... Some devices are designed to deny users access to install or run modified versions of the software inside them, although the manufacturer can do so. This is fundamentally incompatible with the aim of protecting users' freedom to change the software. The systematic pattern of such abuse occurs in the area of products for individuals to use, which is precisely where it is most unacceptable. Therefore, we have designed this version of the GPL to prohibit the practice for those products. If such problems arise substantially in other domains, we stand ready to extend this provision to those domains in future versions of the GPL, as needed to protect the freedom of users. |
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Thank you both. I greatly appreciate the support. Unfortunately, no one seems interested in this GB and I have made all the modifications and price changes I can make. If anyone is interested but has concerns about not reaching 1T, please feel free to list your interest level. No BTC risked. I have no problem refunding BTC until mining has started. In my dealing with Firejuan he has been a fair and trustworthy individual, refunding me a coupon worth $75-125. He offers the best price for hashrate that I know of. Bumping his thread.
up for this thread also.
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i vouch for fire juan in this plan, and i will promise that all of the miner will 99% time online.
Thank you. I have purchased the first 8 shares. TxID Removed . My vote for mining pool is Eligius. |
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Change in ToS: Management fee reduced to 1.5% and will be decreased by 0.25% after every 2 payouts.
BTC-e price update: 1 BTC = $458.499 @ 07.04.14 15:14
1 Gh/s = $3.10
1 share = 25 Gh/s = $77.50 = 0.1690 BTC
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username: takemymoney game: craps Credited everyone above. Enjoy!
pagona, I sent you a pm regarding your account.
By the way, we just launched Roulette and our product team is on a shipping spree. Which game would you like to see next?
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Price update:
1 Gh/s = $3.10
1 share = 25 Gh/s = $77.50= 0.1723 BTC
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Alright let me try this again.
1 Gh/s = $3.25
1 share = 25 Gh/s = $81.25 = 0.1934 BTC
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