philipma1957
Legendary
 Offline
Activity: 4116
Merit: 7867
'The right to privacy matters'
|
 |
June 14, 2014, 05:15:53 PM |
|
road stress has the best gear available in the world the sp10 and eventually the sp30 will be better gear. But simple math shows buying the rk-box is a better purchase . I can earn from June 30th to Sept 30th ... The sp30 is delayed too long.
Also if you are in the USA and buy a rx-box at .9btc you are not subject to US federal reporting laws.
A transfer of .9btc x 600 usd = 540 USD UNDER THE CURRENT 600 TRANSFER LAW. So I am looking to buy these and not worry about extra tax reporting.
I would have purchase an in hand sp10 but was offered a deal in btc only not paypal. I was offered to buy an sp30 and that was also btc purchase.
I trusted the seller but with reporting laws I did not buy the gear. My last over 600 usd purchase was a grid seed blade I did this purchase via paypal.
I did a purchase of 2800 for a 1th dragon miner and that was paypal.
What make these rx box items interest me is the sale price will work with btc reporting laws of the USA.
These laws do not apply if you are not running a btc business, but i am so I have to report any 600 usd of btc transfer.
|
|
|
|
|
|
|
|
|
|
|
Bitcoin mining is now a specialized and very risky industry, just like gold mining. Amateur miners are unlikely to make much money, and may even lose money. Bitcoin is much more than just mining, though!
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
|
|
Biodom
Legendary
Offline
Activity: 3752
Merit: 3869
|
|
June 14, 2014, 07:02:37 PM |
|
These laws do not apply if you are not running a btc business, but i am so I have to report any 600 usd of btc transfer.
Finally, I got it, before that number of $600 that you cite was a complete mystery. I know that any business that pays a person more than $600 in one tax year has to give out form 1099, but that's all. I was not sure that purchasing something qualifies as well. Such purchase does qualify as expense on a yearly tax report, but that's trivial. I am not sure what exactly you gain by NOT having your RK-box booked as an expense which could be used to offset the revenue, but i am not a tax expert. |
|
|
|
|
|
kabopar
|
|
June 14, 2014, 09:07:42 PM |
|
road stress has the best gear available in the world the sp10 and eventually the sp30 will be better gear. But simple math shows buying the rk-box is a better purchase . I can earn from June 30th to Sept 30th ... The sp30 is delayed too long.
Also if you are in the USA and buy a rx-box at .9btc you are not subject to US federal reporting laws.
A transfer of .9btc x 600 usd = 540 USD UNDER THE CURRENT 600 TRANSFER LAW. So I am looking to buy these and not worry about extra tax reporting.
I would have purchase an in hand sp10 but was offered a deal in btc only not paypal. I was offered to buy an sp30 and that was also btc purchase.
I trusted the seller but with reporting laws I did not buy the gear. My last over 600 usd purchase was a grid seed blade I did this purchase via paypal.
I did a purchase of 2800 for a 1th dragon miner and that was paypal.
What make these rx box items interest me is the sale price will work with btc reporting laws of the USA.
These laws do not apply if you are not running a btc business, but i am so I have to report any 600 usd of btc transfer.
Rockminer read your post, and understood that their price is 'too good', so they increased it to 1 BTC on their web site...  It would be nice if it was priced under about USD 500, as the import threshold for GST in Australia is AUD500 (which the Antminer S1 met, but Bitmain probably was not aware of this). Cheers |
|
|
|
|
RoadStress
Legendary
Offline
Activity: 1904
Merit: 1007
|
|
June 14, 2014, 09:22:16 PM |
|
road stress has the best gear available in the world the sp10 and eventually the sp30 will be better gear. But simple math shows buying the rk-box is a better purchase . I can earn from June 30th to Sept 30th ... The sp30 is delayed too long.
Also if you are in the USA and buy a rx-box at .9btc you are not subject to US federal reporting laws.
A transfer of .9btc x 600 usd = 540 USD UNDER THE CURRENT 600 TRANSFER LAW. So I am looking to buy these and not worry about extra tax reporting.
I would have purchase an in hand sp10 but was offered a deal in btc only not paypal. I was offered to buy an sp30 and that was also btc purchase.
I trusted the seller but with reporting laws I did not buy the gear. My last over 600 usd purchase was a grid seed blade I did this purchase via paypal.
I did a purchase of 2800 for a 1th dragon miner and that was paypal.
What make these rx box items interest me is the sale price will work with btc reporting laws of the USA.
These laws do not apply if you are not running a btc business, but i am so I have to report any 600 usd of btc transfer.
Thank you! Don't forget shipping costs too for the rx-box. I don't understand how come you didn't get a SP10 for $2800 and you got a 1TH dragon miner, but it's your choice and I respect that. |
|
|
|
|
xzempt
|
|
June 14, 2014, 10:15:25 PM |
|
is the raspberry pi included?
|
|
|
|
|
philipma1957
Legendary
Offline
Activity: 4116
Merit: 7867
'The right to privacy matters'
|
|
June 14, 2014, 10:41:25 PM |
|
These laws do not apply if you are not running a btc business, but i am so I have to report any 600 usd of btc transfer.
Finally, I got it, before that number of $600 that you cite was a complete mystery. I know that any business that pays a person more than $600 in one tax year has to give out form 1099, but that's all. I was not sure that purchasing something qualifies as well. Such purchase does qualify as expense on a yearly tax report, but that's trivial. I am not sure what exactly you gain by NOT having your RK-box booked as an expense which could be used to offset the revenue, but i am not a tax expert. I do not have to fully explain the history of the btc transferred if it is under 600usd. I can say purchased a rx-box for 580usd. if the price was 580 usd the day i purchase it. now if I buy a 3000 usd sp10 all in coin I need to completely explain the full history of the 5.2 btc I paid with. Or I am not compliant with current law. So Lets say I purchased 3000 usd worth of coin from coin base wait 7 days for it to transfer I have to list price paid. I have to list price it was worth when transferred which is not to complicated if I bought from coinbase and moved it 8 days later….. But if the coins came from 6 sales here of .1 or .2 btc and from 3 miners and from coinbase it is a lot more complicated. So until irs gets it shit together I no longer do coin movements or transferers over 600 usd. I will use paypal which is how I purchased my 1th dragon miner…… I will use cc's which is how i purchased 5 gridseed blades. at about 650 usd each. I have a lot of back history with fed tax law so I really try to cross the t's and dot the i's |
|
|
|
|
bobsag3
|
|
June 14, 2014, 11:17:01 PM |
|
is the raspberry pi included?
No. |
|
|
|
|
|
ProudMiner
|
|
June 15, 2014, 12:29:40 AM |
|
The prototype looks like four independent miners each with its own power and controller/usb interface. Is the end product going to be like this?
Yeah seriously, are we going to need a USB hub for each miner?  |
|
|
|
gigacoiner
Member
Offline
Activity: 92
Merit: 10
|
|
June 15, 2014, 07:14:22 AM |
|
In the shop page, if you buy 4, the price goes down to 99 mbtc?
4 of these is almost 2 TH and the price for all 4 is only 396 mBtc?
Doesn't that sound too good to be true?
|
|
|
|
|
|
Blaater
|
|
June 15, 2014, 07:59:55 AM |
|
In the shop page, if you buy 4, the price goes down to 99 mbtc?
4 of these is almost 2 TH and the price for all 4 is only 396 mBtc?
Doesn't that sound too good to be true?
They already changed it  |
|
|
|
|
|
bobsag3
|
|
June 15, 2014, 03:09:31 PM |
|
The prototype looks like four independent miners each with its own power and controller/usb interface. Is the end product going to be like this?
Yeah seriously, are we going to need a USB hub for each miner? No you will not. |
|
|
|
|
TinyBBC
Member
Offline
Activity: 63
Merit: 10
|
|
June 15, 2014, 04:20:29 PM |
|
This machine looks like very nice, interested to buy
|
MY twitter is Bangel (@Bangel19)
|
|
|
Biodom
Legendary
Offline
Activity: 3752
Merit: 3869
|
|
June 15, 2014, 05:37:33 PM |
|
Gosh, the marketing materials get more and more confusing.
"raspberry pi and it's power supply for every 2 units"
so, do you need just one rasp pi for every two units or you need two (one for each RK-box)?
If you need two, then how many are included if you order 2 RK-boxes? One or two?
|
|
|
|
|
|
thcmakaveli
|
|
June 15, 2014, 06:04:08 PM |
|
In the shop page, if you buy 4, the price goes down to 99 mbtc?
4 of these is almost 2 TH and the price for all 4 is only 396 mBtc?
Doesn't that sound too good to be true?
yeah and if you consider rPI and PSU for the miner .... It is almost the same price if you buy 2 x 1 TH miners, but you have to wait 15 more days till you receive ur RK Box |
|
|
|
|
|
Glizlack
|
|
June 16, 2014, 02:24:57 AM |
|
This does look interesting. I don't have the budget currently to buy a 1t machine or higher but I can afford one of these. The power is a bit more than I had anticipated from the new am3 chips but still not awfull. Does anybody know any of the other variations they are planning on offering?
Steve
|
▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄▄
PRIMEDICE The Premier Bitcoin Gambling Experience @PrimeDice
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
|
|
|
|
bobsag3
|
|
June 16, 2014, 02:59:00 AM |
|
This does look interesting. I don't have the budget currently to buy a 1t machine or higher but I can afford one of these. The power is a bit more than I had anticipated from the new am3 chips but still not awfull. Does anybody know any of the other variations they are planning on offering?
Steve
There will be a 64 chip version. |
|
|
|
|
|
denniscdunbar
|
|
June 16, 2014, 04:06:39 AM |
|
Shipping to USA @ 0.25BTC seems a bit high for a miner that costs 1.05BTC
DoubleDD
|
|
|
|
|
|
|
CrazyGuy
Legendary
Offline
Activity: 1973
Merit: 1007
|
|
June 16, 2014, 04:29:41 AM |
|
I will also be shipping from the US. We'll be taking orders as soon as units begin shipping from China.
|
ASICPuppy.net ASIC Mining Hardware and Accessories - Compac F in stock!
|
|
|
infernoman
Legendary
Offline
Activity: 964
Merit: 1000
|
|
June 16, 2014, 05:34:50 AM |
|
any canadian resellers yet? and just looking for some clarification here.
will i be able to use a dedicated pc for the usb cables instead of r-pi?
and will the prices of the miners be adjust per batch or daily like bitmain?
|
|
|
|
|
|
