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ComputerGenie (OP)
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June 11, 2017, 07:54:56 PM
Last edit: June 12, 2017, 11:26:24 PM by ComputerGenie |
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...Well I don't know if you've looked up the profits that the Antminer L3+ ....
And why would I look up the profits of an X11 miner for a thread about a SHA-256 miner?  ...So you're saying that as soon as you have your mining equipment payed off (you hit ROI) ....
No one that knows what ROI stands for (Return On Investment) has ever said that. |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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GMPoison
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June 11, 2017, 08:08:48 PM |
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...Well I don't know if you've looked up the profits that the Antminer L3+ ....
And why would I look up the profits of an X11 miner for a thread about a SHA-256 miner? ...So you're saying that as soon as you have your mining equipment payed off (you hit ROI) ....
No one that knows what ROI stands for (Return On Investment) has ever said that. You cut off the rest of my original post in which I was speaking of Litecoin as well, and I'm also not here to argue semantics. How about you try to be constructive? |
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ComputerGenie (OP)
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June 11, 2017, 08:14:19 PM |
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...How about you try to be constructive? How about you try to be on topic? |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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ComputerGenie (OP)
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June 11, 2017, 08:18:38 PM |
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...and I'm also not here to argue semantics... It's more than an issue of semantics. When you misuse a financial word, you spread dis/misinformation. If you spend $1,000,000,000 on an investment and you only get back 1¢, then you have an ROI of 1¢. In such a case, $1,000,000,000.01 is an ROI of $1,000,000,000.01 not an ROI of 1¢. Because, words matter! |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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GMPoison
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June 11, 2017, 08:28:43 PM |
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...and I'm also not here to argue semantics... It's more than an issue of semantics. When you misuse a financial word, you spread dis/misinformation. If you spend $1,000,000,000 on an investment and you only get back 1¢, then you have an ROI of 1¢. In such a case, $1,000,000,000.01 is an ROI of $1,000,000,000.01 not an ROI of 1¢. Because, words matter!I didn't misuse the word Return on Investment. Return on investment is a measure of the gain or loss generated on an investment relative to the amount of money invested. When people say they've "hit ROI" - which they commonly do - it often means they've recuperated 100% of the amount of money they have invested. Antminer L3's "hit ROI" or "break even" in ~45 days. |
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ComputerGenie (OP)
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June 11, 2017, 08:40:53 PM |
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I didn't misuse the word Return on Investment. Return on investment is a measure of the gain or loss generated on an investment relative to the amount of money invested. When people say they've "hit ROI" - which they commonly do - it often means they've recuperated 100% of the amount of money they have invested. Antminer L3's "hit ROI" or "break even" in ~45 days.
You did. It doesn't. And they're uneducated. ROI
Definition: A profitability measure that evaluates the performance of a business by dividing net profit by net worth . ROI
A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. .... No educated definition of "ROI" means "recuperated 100% of the amount of money they have invested". None! In fact, by some ROI formulas, "break even" = 0 (literally). The only thing worse than you still yammering on, about an L3 in an S9 thread, is the fact that you're wrong about your yammering. |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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GMPoison
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June 11, 2017, 09:43:20 PM
Last edit: June 11, 2017, 10:14:04 PM by GMPoison |
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I didn't misuse the word Return on Investment. Return on investment is a measure of the gain or loss generated on an investment relative to the amount of money invested. When people say they've "hit ROI" - which they commonly do - it often means they've recuperated 100% of the amount of money they have invested. Antminer L3's "hit ROI" or "break even" in ~45 days.
You did. It doesn't. And they're uneducated. ROI
Definition: A profitability measure that evaluates the performance of a business by dividing net profit by net worth . ROI
A performance measure used to evaluate the efficiency of an investment or to compare the efficiency of a number of different investments. .... No educated definition of "ROI" means "recuperated 100% of the amount of money they have invested". None! In fact, by some ROI formulas, "break even" = 0 (literally). The only thing worse than you still yammering on, about an L3 in an S9 thread, is the fact that you're wrong about your yammering. You're right, no educated definition of "ROI" means "recuperated 100% of the amount of money they have invested". That's why I didn't define ROI that way. I defined the informal phrase/slang referred to as "hitting ROI" as recuperating all of the money you've invested, not "ROI" itself. Obviously. The only thing worse than berating someone for yammering on is the fact that you feel the need to keep replying yourself, when that's the very thing you're berating me for, being off topic. If I'm so wrong, then clearly I'm just an idiot that doesn't deserve to be replied to, and you won't reply to this. Stay on topic and drop it, right? Be the bigger man, right? Quit being a dick for no reason other than your psychological need to be right and use only the most formal of grammar on an internet forum, right? Goodbye and good luck my friend. |
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ComputerGenie (OP)
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June 11, 2017, 10:41:03 PM |
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...then clearly I'm just an idiot...
Well, at least we agree on that much.  |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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Unacceptable
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June 12, 2017, 08:30:58 AM |
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GMPoison,I see you met Computer Genius!!! Have fun!!! I made ROI back on my S3+'s in about 6 months,I got em late in 2015 or so. Doubt most will get ROI on their S9's that quick  And I don't give a fuck about how ROI is SUPPOSED to be interpreted of if I'm using it wrong,it is how I & MANY others have used it around here since 2011  |
"If you run into an asshole in the morning, you ran into an asshole. If you run into assholes all day long, you are the asshole." -Raylan Givens Got GOXXED ?? https://www.youtube.com/watch?v=9KiqRpPiJAU&feature=youtu.be"An ASIC being late is perfectly normal, predictable, and legal..."Hashfast & BFL slogan  |
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AriesIV10
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June 12, 2017, 03:37:48 PM |
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GMPoison,I see you met Computer Genius!!! Have fun!!! I made ROI back on my S3+'s in about 6 months,I got em late in 2015 or so. Doubt most will get ROI on their S9's that quick And I don't give a fuck about how ROI is SUPPOSED to be interpreted of if I'm using it wrong,it is how I & MANY others have used it around here since 2011 Ditto! |
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Minor Miner
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June 12, 2017, 05:20:20 PM |
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...and I'm also not here to argue semantics... It's more than an issue of semantics. When you misuse a financial word, you spread dis/misinformation. If you spend $1,000,000,000 on an investment and you only get back 1¢, then you have an ROI of 1¢. In such a case, $1,000,000,000.01 is an ROI of $1,000,000,000.01 not an ROI of 1¢. Because, words matter!I didn't misuse the word Return on Investment. Return on investment is a measure of the gain or loss generated on an investment relative to the amount of money invested. When people say they've "hit ROI" - which they commonly do - it often means they've recuperated 100% of the amount of money they have invested. Antminer L3's "hit ROI" or "break even" in ~45 days. CG: You are incorrect. GMP is correct. You are thinking more about an asset investment where the asset retains the original capital value. In the case of miners, they have little value (unless someone on here would like to buy the pallets of Avalons/KNCs/CoinTerras/Spons that we have gathering dust) so you need to get the original investment back before you are getting a return on your investment. This equipment depreciates quickly and that has to be subtracted from your income until fully depreciated. This is not worth arguing with people over and you should let people be when you know what they mean. It just makes you appear petty especially when you are incorrect. |
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ComputerGenie (OP)
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June 12, 2017, 05:29:49 PM |
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...you need to get the original investment back before you are getting a return on your investment....
Because it's moot and off-topic, I'll leave you to your misconceptions and trust the definition used by my accountants (and the IRS, to whom both they and I answer to when it comes to such topics) over random uneducated strangers on the interweb. |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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Minor Miner
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June 12, 2017, 05:39:21 PM |
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...you need to get the original investment back before you are getting a return on your investment....
Because it's moot and off-topic, I'll leave you to your misconceptions and trust the definition used by my accountants (and the IRS, to whom both they and I answer to when it comes to such topics) over random uneducated strangers on the interweb. So your accountants and the IRS have informed that there is no such thing as depreciation expense? Return on Investment is not a measure you report on your income tax return. INCOME is. To have income, your profit (which is the cash you receive LESS your expenses (and yes, depreciation IS an expense)) needs to be greater than zero. I am not some "uneducated stranger", many here know who I am. I would put my education in this field and experience in mining up against "your accountant" any day. Stop being a jerk off. If your day job is to blindlessly fanboi Bitmain, then do it in a professional manner. You are speaking out your ass, and should shut up about things you know little about. |
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ComputerGenie (OP)
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June 12, 2017, 05:42:52 PM |
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...Return on Investment is not a measure you report on your income tax return. INCOME is....
And you can't have income from an investment without getting a return ON that investment. You really are a silly ...jerk off....
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If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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Minor Miner
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June 12, 2017, 05:50:47 PM |
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...Return on Investment is not a measure you report on your income tax return. INCOME is....
And you can't have income from an investment without getting a return ON that investment. You really are a silly ...jerk off....
So, you still do not understand the words that you are telling others they are wrong about. Your own quote just states why you are wrong and you do not even understand. You have NO idea that income from mining is likely zero for most miners after the equipment is depreciated do you? That you are an ass is quite clear but quit digging a hole on topics you do not even understand. |
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ComputerGenie (OP)
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June 12, 2017, 05:59:50 PM |
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...[blibityblablabla]....
Yay you, you managed to catch me in a semantic misstep while doing 14 things (one of which is earning revenue [and an income] from my S9s)! Do you feel like an adult now? Edit: For the record, Joe Schlockrock running 1 or 2 miners in his Mommy's garage has no reportable difference between income and revenue and no justifiable cause to depreciate a still running S9. |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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Biodom
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June 12, 2017, 06:04:42 PM |
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...you need to get the original investment back before you are getting a return on your investment....
Because it's moot and off-topic, I'll leave you to your misconceptions and trust the definition used by my accountants (and the IRS, to whom both they and I answer to when it comes to such topics) over random uneducated strangers on the interweb. So your accountants and the IRS have informed that there is no such thing as depreciation expense? Return on Investment is not a measure you report on your income tax return. INCOME is. To have income, your profit (which is the cash you receive LESS your expenses (and yes, depreciation IS an expense)) needs to be greater than zero. I am not some "uneducated stranger", many here know who I am. I would put my education in this field and experience in mining up against "your accountant" any day. Stop being a jerk off. If your day job is to blindlessly fanboi Bitmain, then do it in a professional manner. You are speaking out your ass, and should shut up about things you know little about. thank you |
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Minor Miner
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June 12, 2017, 07:27:06 PM |
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...[blibityblablabla]....
Yay you, you managed to catch me in a semantic misstep while doing 14 things (one of which is earning revenue [and an income] from my S9s)! Do you feel like an adult now? Edit: For the record, Joe Schlockrock running 1 or 2 miners in his Mommy's garage has no reportable difference between income and revenue and no justifiable cause to depreciate a still running S9. Sorry, I cannot let this go. You are spreading incorrect and stupid information to people. joe schlockrock DOES have difference between Revenue and Income even if he is running them in his mommy's garage. he should be taking REVENUE (the rewards he receives each month) and SUBTRACTING from that revenue his EXPENSES (if he steals the electricity from his mommy, he cannot expense it and that is stupid but he still would have other expenses the largest of which would be DEPRECIATION. To think that "no justifiable cause to depreciate a still running S9" is INSANE. IF (and I mean IF) an accountant told you that, he is a fool and you should report him. You think a cab company does not depreciate the cars because they are still on the road?  WHAT??? That is insane. You know there is special depreciation available also to fully expense these in year 1? Even if you do not want to do that, you still could do 1/3 of the cost each year. You are giving people very bad advice serving it with an attitude. Stop. |
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ComputerGenie (OP)
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June 12, 2017, 07:31:52 PM |
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...[blibityblablabla]....
And what is this claimable depreciation rate (for a hobby miner) that you plucked from your delusional Land of Make-believe? |
If you have to ask "why?", you wouldn`t understand my answer.
Always be on the look out, because you never know when you'll be stalked by hit-men that eat nothing but cream cheese....
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Minor Miner
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June 12, 2017, 07:36:35 PM |
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...[blibityblablabla]....
And what is this claimable depreciation rate (for a hobby miner) that you plucked from your delusional Land of Make-believe? Hobby? It is not a hobby when you are getting 1099s from the sale, it is reportable INCOME. so you could depreciate over 3 years (1/3 per year) and expense EVERY single cost you have (like cables, electricity, internet service, trips to the store to get supplies etc). EVERYTHING. Just like a business. Just because you are not a corporation or an LLC does not mean you cannot deduct your expenses. If you have one or two in a garage and live with MOM, it is likely you do not have an income high enough to pay taxes and this will not change that. |
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