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dagarair
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March 07, 2018, 01:26:41 AM |
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hmm in the usa you can instantly depreciate your hardware using section 178 in 2017 and now with trumps new tax plan the cap is removed..... Just saying
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Searing
Copper Member
Legendary
 Offline
Activity: 2898
Merit: 1464
Clueless!
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March 07, 2018, 04:53:24 AM |
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hmm in the usa you can instantly depreciate your hardware using section 178 in 2017 and now with trumps new tax plan the cap is removed..... Just saying
I’m doing so. But I’m told by cpa it is 25% in real $$$ back on equipment, on taxes You would pay anyway. If you don’t make enough for that, it is a loss. This means I’m basically a Farmer, equipment wise. Problem is I need to overkill month to month at beginning of the year, in that my Legacy miners may be doorstop mode by June. Also price dump at end of year could Make hard for me to catch-up. Also, if I do have a lot of extra $$$ by being to cautious, as a self employed business I can fund a solo401k at $24k plus. Then once funded, flip back into crypto. With this $24k acting like Equipment and all available to deduct from gross income. But the solo 401k can only be funded from self-employment setup. Again how long Can I mine. So playing it tight first 1/2 of year mining or equipment. Pm me details if questions. I may not be using proper terms. (Thus CPA) |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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tomothy
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March 07, 2018, 04:54:32 PM |
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I think l3+s stay around $8/10/day in profit, just the difference is how much ltc you get. Bitmain has done an amazing job pegging returns to USD in all of their ASICs besides the D3. (If you bought a D3 I feel bad for you. You got hosed, no if and or buts about it). So I think any purchases you will break even USD wise. The issue is whether your returns can break even in crypto spent. It gets really complicated mining stateside however since coins are immediately valued as USD income. All I'm getting to is I think you can continue to buy hardware unless next gen release in 2018. I have a feeling we may get nextgen in 2018 but I'd love for the can to be kicked until 2019. Seeing the new coupons, Bitmain either has LOTS of new units they need to sell or has next gen coming out soon. Ultimately it still means they have units to sell that aren't getting bought. This means maybe prices will continue to drop a bit more. Also, this new Asicboost stuff may change things. Feels too early. Has anyone received stuff bought from HalongMining? I saw those Blake miners for decred at $10k... that seems more risky then s9s or l3+s right now imho...
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isukabtc
Newbie
Offline
Activity: 78
Merit: 0
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March 07, 2018, 04:59:29 PM |
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Hi guys,
I just order L3+ in March batch. Mine is March Batch 3, they said will be shipped after Batch 2 and guarantee shipped before 10 April. I know it might be shipped 9 April, but anyone have experience with "Monthly batch" like this ? When usually it will be shipped ?
Thank you..
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suchmoon
Legendary
Offline
Activity: 3654
Merit: 8922
https://bpip.org
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March 07, 2018, 05:11:27 PM |
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hmm in the usa you can instantly depreciate your hardware using section 178 in 2017 and now with trumps new tax plan the cap is removed..... Just saying
I’m doing so. But I’m told by cpa it is 25% in real $$$ back on equipment, on taxes You would pay anyway. If you don’t make enough for that, it is a loss. This means I’m basically a Farmer, equipment wise. Problem is I need to overkill month to month at beginning of the year, in that my Legacy miners may be doorstop mode by June. Also price dump at end of year could Make hard for me to catch-up. Also, if I do have a lot of extra $$$ by being to cautious, as a self employed business I can fund a solo401k at $24k plus. Then once funded, flip back into crypto. With this $24k acting like Equipment and all available to deduct from gross income. But the solo 401k can only be funded from self-employment setup. Again how long Can I mine. So playing it tight first 1/2 of year mining or equipment. Pm me details if questions. I may not be using proper terms. (Thus CPA) I never got into doing taxes this way mainly due to me hodling and long term cap gains tax being so ridiculously low (0% or 15% depending on your bracket). And the equipment is often resold at a substantial price or even at a profit, which makes depreciation less useful since I still have to pay taxes on the sale. $24k... shows your age  us youngsters can only do 18k. |
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1464
Clueless!
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March 07, 2018, 05:51:49 PM |
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hmm in the usa you can instantly depreciate your hardware using section 178 in 2017 and now with trumps new tax plan the cap is removed..... Just saying
I’m doing so. But I’m told by cpa it is 25% in real $$$ back on equipment, on taxes You would pay anyway. If you don’t make enough for that, it is a loss. This means I’m basically a Farmer, equipment wise. Problem is I need to overkill month to month at beginning of the year, in that my Legacy miners may be doorstop mode by June. Also price dump at end of year could Make hard for me to catch-up. Also, if I do have a lot of extra $$$ by being to cautious, as a self employed business I can fund a solo401k at $24k plus. Then once funded, flip back into crypto. With this $24k acting like Equipment and all available to deduct from gross income. But the solo 401k can only be funded from self-employment setup. Again how long Can I mine. So playing it tight first 1/2 of year mining or equipment. Pm me details if questions. I may not be using proper terms. (Thus CPA) I never got into doing taxes this way mainly due to me hodling and long term cap gains tax being so ridiculously low (0% or 15% depending on your bracket). And the equipment is often resold at a substantial price or even at a profit, which makes depreciation less useful since I still have to pay taxes on the sale. $24k... shows your age us youngsters can only do 18k. yeah....the solo 401k is a nice trick...you can do more than 24K if you make a lot more $$...so less risk of me getting equipment..in that the self-employed solo 401k ACTS like equipment and comes of gross income (mining) and once converted to $$$ to get into the solo401k you can convert back to crypto and play with it, within the solo401k sandbox...hell...that is a NO BRAINER ...not as much dubious ASIC miner purchase risk (not that I can find any hardware that makes sense now over just Hodl'ing coin). Also...with the amount of FUD being pumped out today and the price in the $9.5k range....more roller coaster too boot ..it seems....crypto always drama... |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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Early_Waffle
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March 07, 2018, 06:00:14 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1464
Clueless!
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March 07, 2018, 06:46:15 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
2013 KNC 550gh Jupiter Miner BTC miner. (ROI'd in 3 weeks) 2014-1st half of 2015...nothing available of any note as NEW equipment...bought only used till July 2015...(see below) 2015 got SIX KNC Liquidation 5 cube (new) 400mh units for $1,900.00 and (1) KNC 4 cube (new) 300mh unit for $1,800 on Ebay Corp Dump. Total of 7 new units. Starting, April 1st, 2016 got (  Bitmain units, four L3's at 250mh and four L3+ units at 500mh by July...during the $4.15 to $50 pump. Got (4) more L3+'s last arrived in Sept. All units EXCEPT the 2013 Jupiter are still earning PROFITS and All my units, EVER, have ROI'd. I have not found ANYTHING since (September 2016) worth swapping crypto for ASIC equipment..so you may have a point. So yeah, it is rare, 2016 was the exception for scrypt-pow machines...I have KNC Titans that have been running 24/7 since Nov 8th 2014...still profitable... ...and I may have another couple years, after this, only chasing down USED ASIC equipment...but as you see above...mining can make you $$$ if lucky! brad |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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.F.
Jr. Member
Offline
Activity: 56
Merit: 2
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March 07, 2018, 07:30:58 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
To all people starting out - please know this is FUD and not true. I'm mining and make lots of money doing it. Just don't listen to this and do your thing |
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madmartyk
Legendary
Offline
Activity: 2674
Merit: 1030
Yes I am a pirate, 300 years too late!
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March 07, 2018, 07:40:00 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
To all people starting out - please know this is FUD and not true. I'm mining and make lots of money doing it. Just don't listen to this and do your thing What do you consider lots? |
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Sandal_Hat
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March 07, 2018, 08:42:50 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
To all people starting out - please know this is FUD and not true. I'm mining and make lots of money doing it. Just don't listen to this and do your thing Pls check your mining calculator. The numbers are not good now. |
Selling 100 dollar coupons (8units expire 11th June, 14 units expire 1st july) and 125 dollar coupon (2 unit exp 30th June). Selling at 20% of value
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hawkfish007
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March 08, 2018, 06:05:03 AM |
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Has anyone received Batch 2 or Batch 3 L3+s yet?
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Micky25
Legendary
Offline
Activity: 974
Merit: 1000
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March 08, 2018, 06:25:30 AM |
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2015 got SIX KNC Liquidation 5 cube (new) 400mh units for $1,900.00 and (1) KNC 4 cube (new) 300mh unit for $1,800 on Ebay Corp Dump. Total of 7 new units. after all these years I still envy you for those  I followed the development with KNC closly but completely missed out on that. |
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dnp
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March 08, 2018, 11:23:00 AM
Last edit: March 08, 2018, 04:03:58 PM by dnp |
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has anyone got https: working for accessing and configuring the L3+ ?
i have to traverse an insecure network (a network i dont have control over) and would prefer
not to have my L3 logon credentials in plain view of the network.
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Explorer and full node hosting at explorer.dognose.net
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toptek
Legendary
Offline
Activity: 1274
Merit: 1000
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March 08, 2018, 09:08:30 PM |
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Has anyone received Batch 2 or Batch 3 L3+s yet?
waiting for Batch 3 i ordered mine form https://www.eastshore.xyz/ as a panic buy wish i hadn't now. why I ordered there:because my bitmain account is locked due to some bad info i put in wrong an it's a pain to get fixed plus I thought by the time i did get it fixed i might miss buying one from bitmain ...I have bought form https://www.eastshore.xyz/ before and got the miners as they said and when they said I'm trying to get them to refund back some of the BTC i paid because of the price drop on bitmain site and the waiting .... an it looks like I'm being Ignored on the partial refund request . |
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toptek
Legendary
Offline
Activity: 1274
Merit: 1000
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March 08, 2018, 09:20:28 PM |
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has anyone got https: working for accessing and configuring the L3+ ?
i have to traverse an insecure network (a network i dont have control over) and would prefer
not to have my L3 logon credentials in plain view of the network.
try SSH .. other wise no i haven't but you can log though a secure proxy or vpn ,.... or hide the IP other ways.. with your router . |
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Searing
Copper Member
Legendary
Offline
Activity: 2898
Merit: 1464
Clueless!
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March 08, 2018, 11:58:12 PM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
To all people starting out - please know this is FUD and not true. I'm mining and make lots of money doing it. Just don't listen to this and do your thing Pls check your mining calculator. The numbers are not good now. To BUY new ASIC equipment, I agree. To run my equipment that has ROI ‘d Golden. But yeah, in my case, if looking to buy equipment with miner gains it makes no sense, IF your equipment only ROI’s with coin price pump. So if you have equipment it is better to HODL and wait to buy equipment. IMHO. |
Old Style Legacy Plug & Play BBS System. Get it from www.synchro.net. Updated 1/1/2021. It also works with Windows 10 and likely 11 and allows 16 bit DOS game doors on the same Win 10 Machine in Multi-Node! Five Minute Install! Look it over it uninstalls just as fast, if you simply want to look it over. Freeware! Full BBS System! It is a frigging hoot!:) |
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Sandal_Hat
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March 09, 2018, 02:47:15 AM |
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Hey. mining has become quite unprofitable for a long time. if anyone can prove otherwise to me, I'd love to have a precious experience.
To all people starting out - please know this is FUD and not true. I'm mining and make lots of money doing it. Just don't listen to this and do your thing Pls check your mining calculator. The numbers are not good now. To BUY new ASIC equipment, I agree. To run my equipment that has ROI ‘d Golden. But yeah, in my case, if looking to buy equipment with miner gains it makes no sense, IF your equipment only ROI’s with coin price pump. So if you have equipment it is better to HODL and wait to buy equipment. IMHO. I dont think it makes sense to buy new equipment unless it is something like the antminer A3, a niche that did ROI. But if u are unlucky, it can end up like the D3, which will never ROI. I believe it is best not to buy too much of one type of equipment. As for btc, it is just too popular and new equipment may possibly not ROI also. It depends of course. |
Selling 100 dollar coupons (8units expire 11th June, 14 units expire 1st july) and 125 dollar coupon (2 unit exp 30th June). Selling at 20% of value
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jpl
Member
Offline
Activity: 154
Merit: 11
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March 09, 2018, 05:52:22 AM |
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A little confused as to why this miner difficulty got worse? One would think that more people mining, it would become easier. .. or better yet, a 'fixed' mining difficulty rate.
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kenji
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March 09, 2018, 02:51:04 PM |
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A little confused as to why this miner difficulty got worse? One would think that more people mining, it would become easier. .. or better yet, a 'fixed' mining difficulty rate.
If the price keeps declining, the difficulty will adjust, boosting profitability. If the price rebounds and begins to rise, the difficulty will continue to rise and catch up, but profitability should still rise. The only ones losing out on this are the ones selling their machines and/or selling their coins. The winners are the ones that hodl. |
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