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Author Topic: [~200PH] KanoPool kano.is 0.9% fee 6.3 BTC giveaway 🐈 US,UK,JP,NYA,DE,SG  (Read 5166653 times)
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minergain.com
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April 08, 2018, 06:51:49 PM
 #39061

Thanx Kano!!! I was receiving alerts, saw the website was down, and instantly knew you'd be a busy fella.

Just a thought here about the new accounting page:

Is there any chance you could write a code/script that could, show the price of Bitcoin at the time of a reward payout? This feature
would certainly be helpful, for those of us who need to have a date with Uncle Sam! Ha!
minergain.com takes care of this automatically (in US dollars right now - if someone needs other currency, I can add that in an hour of programming).  Just do a file, save as of your rewards, upload that file to your minergain rewards section and the price of BTC when the block was found is assigned to the display below.  As I understand it, that is one way to report your cost basis.  Unfortunately I do not have the wallet transfers built in yet, so this method is only good for reporting based on when it is found for now.  Of course this can be used with any pool we are monitoring as well.  You can list your rewards by day, week, month or year.  You will have your accounting info done in about 2 minutes with this process!  PM me if you have any issues with the process.

www.minergain.com - Free miner equipment tracking and reporting
Mike is a tiny miner: 3 S9, 1 D3, 6 RX470
I mine at Kano Pool, for better BTC Profits!
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dutchlincoln
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April 08, 2018, 06:58:46 PM
 #39062

If anybody has any 400+$ coupons I'm looking to buy another 20-25 miners within a week if I can get enough coupons. Currently have 6

Aaaaaahhh... So you could spare me 2...  Grin Grin Grin Grin

I offered 2! Just not 400$ ones Smiley


Didi i miss it?
You dont accept msg from newbies (a highly annoying status on this forum...) can that be the cause of miscommunication?
DCGOO
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April 08, 2018, 07:23:45 PM
 #39063


I can understand where your coming from, but personally I want to leave no stone unturned, when it comes to maximizing my profits.

The United States taxes BTC as a capital gain, I believe. The price of BTC when you receive it is important. If you ignore that number, they will tax you at it's price when you convert,  instead of when you received. As of right now the price is around  $7000usd. Long term miners, like myself, do not convert at this price. Unless Forced too. Cashing out rewards at this price is going to be a waste of profit.

.US only worries about Bitcoin as a capital gain if you are TRADING in BTC. IOW, if you buy 1 bitcoin for $US6000, and sell it for $US7000, that is a gain of $US1000 when you sell it, not before.  But if you MINE 1 bitcoin for that is 1 BTC of pure income. Not the same.  If you sit on that mined bitcoin until it is worth $US10000, and sell it, that is pure income of $US10000, but not until you exchange it for USD.  IOW, the price in US$ of BTC when you actually acquire it has no effect on your cost to acquire.

The actual direct cost to mine BTC is zero, it is found money. I bought my miners with USD, and I pay my electricity bill with USD. I can deduct those expenses against my mining revenue, but only after the revenue is converted from BTC into USD,  regardless of what the price was at the time I "found" the bitcoin.  Hopefully I can continue pay the bills from other sources until the BTC price increases to something worthwhile.

The BTC cost for MINING is likely zero.  The cost for TRADING is whatever you paid and sold it for in US$. If you are doing both mining and trading, my suggestion would be to keep separate wallets for each activity.  
ccgllc
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April 08, 2018, 07:28:34 PM
 #39064

How close are we to a miner revolution? I'm presently in process of upgrading to 40~ miner strong and as I am nearing the end of the upgrade process for electricity, I am weary of investing heavily now into this generation of 13.5 THs miners..

Appreciate your insight.

My guess is that we will see something new for Bitmain in June, shortly after the coupons expire.  Others say November.  My SPECULATION is that they will simply be S9s with ASICBoost or some similar variation.  I don't see any smaller die/significantly more efficient product coming out in the short run.

I'm probably going to use up my $400+ coupons to buy up more 13.5TH units, but once those are gone will continue to expand with 841s.  They just RUN.  No issues, no having to monitor them for performance decreases fixed by reboots, no cards mysteriously failing.

I mine bitcoin for a living, and I mine at Kano.is!
Blokforge Affiliate:  https://blokforge.com/?ref=21
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rifleman74
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April 08, 2018, 07:39:41 PM
 #39065


I can understand where your coming from, but personally I want to leave no stone unturned, when it comes to maximizing my profits.

The United States taxes BTC as a capital gain, I believe. The price of BTC when you receive it is important. If you ignore that number, they will tax you at it's price when you convert,  instead of when you received. As of right now the price is around  $7000usd. Long term miners, like myself, do not convert at this price. Unless Forced too. Cashing out rewards at this price is going to be a waste of profit.

.US only worries about Bitcoin as a capital gain if you are TRADING in BTC. IOW, if you buy 1 bitcoin for $US6000, and sell it for $US7000, that is a gain of $US1000 when you sell it, not before.  But if you MINE 1 bitcoin for that is 1 BTC of pure income. Not the same.  If you sit on that mined bitcoin until it is worth $US10000, and sell it, that is pure income of $US10000, but not until you exchange it for USD.  IOW, the price in US$ of BTC when you actually acquire it has no effect on your cost to acquire.

The actual direct cost to mine BTC is zero, it is found money. I bought my miners with USD, and I pay my electricity bill with USD. I can deduct those expenses against my mining revenue, but only after the revenue is converted from BTC into USD,  regardless of what the price was at the time I "found" the bitcoin.  Hopefully I can continue pay the bills from other sources until the BTC price increases to something worthwhile.

The BTC cost for MINING is likely zero.  The cost for TRADING is whatever you paid and sold it for in US$. If you are doing both mining and trading, my suggestion would be to keep separate wallets for each activity.  



Not true at all.  Mining does cost money, you can write off power, machines, hosting, etc...


Now we're getting off-topic, so back to MINING ON WITH KANO-SAN!
maddadata
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April 08, 2018, 07:46:44 PM
 #39066


I can understand where your coming from, but personally I want to leave no stone unturned, when it comes to maximizing my profits.

The United States taxes BTC as a capital gain, I believe. The price of BTC when you receive it is important. If you ignore that number, they will tax you at it's price when you convert,  instead of when you received. As of right now the price is around  $7000usd. Long term miners, like myself, do not convert at this price. Unless Forced too. Cashing out rewards at this price is going to be a waste of profit.

.US only worries about Bitcoin as a capital gain if you are TRADING in BTC. IOW, if you buy 1 bitcoin for $US6000, and sell it for $US7000, that is a gain of $US1000 when you sell it, not before.  But if you MINE 1 bitcoin for that is 1 BTC of pure income. Not the same.  If you sit on that mined bitcoin until it is worth $US10000, and sell it, that is pure income of $US10000, but not until you exchange it for USD.  IOW, the price in US$ of BTC when you actually acquire it has no effect on your cost to acquire.

The actual direct cost to mine BTC is zero, it is found money. I bought my miners with USD, and I pay my electricity bill with USD. I can deduct those expenses against my mining revenue, but only after the revenue is converted from BTC into USD,  regardless of what the price was at the time I "found" the bitcoin.  Hopefully I can continue pay the bills from other sources until the BTC price increases to something worthwhile.

The BTC cost for MINING is likely zero.  The cost for TRADING is whatever you paid and sold it for in US$. If you are doing both mining and trading, my suggestion would be to keep separate wallets for each activity.  


IRS treats BTC as a commodity.  Commodities have producers, traders, and consumers.  Each of these has a different tax liability.  For miners of BTC who HODL their coin, there may be capital gains, but the IRS has yet to specify how we are to establish cost basis.  They have specifically said BTC may be taxable as income as soon as it is generated.  I read that as confirmed reward.  That doesn't mean they instantly generate a tax liability, they would be considered unrealized gains at that point.  Hopefully we will have clarification on this in the next year or 2.  Also BTC is taxable if it is exchanged for flat, OR, goods and services...so keep a record of what you spend.

I Mine at Kano Pool [/url (https://kano.is/)
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April 08, 2018, 08:16:42 PM
 #39067

Thanx Kano!!! I was receiving alerts, saw the website was down, and instantly knew you'd be a busy fella.

Just a thought here about the new accounting page:

Is there any chance you could write a code/script that could, show the price of Bitcoin at the time of a reward payout? This feature
would certainly be helpful, for those of us who need to have a date with Uncle Sam! Ha!
minergain.com takes care of this automatically (in US dollars right now - if someone needs other currency, I can add that in an hour of programming).  Just do a file, save as of your rewards, upload that file to your minergain rewards section and the price of BTC when the block was found is assigned to the display below.  As I understand it, that is one way to report your cost basis.  Unfortunately I do not have the wallet transfers built in yet, so this method is only good for reporting based on when it is found for now.  Of course this can be used with any pool we are monitoring as well.  You can list your rewards by day, week, month or year.  You will have your accounting info done in about 2 minutes with this process!  PM me if you have any issues with the process.

THANK YOU Minergain!!! I will definitely set some time aside, to take a look at this.





.US only worries about Bitcoin as a capital gain if you are TRADING in BTC. IOW, if you buy 1 bitcoin for $US6000, and sell it for $US7000, that is a gain of $US1000 when you sell it, not before.  But if you MINE 1 bitcoin for that is 1 BTC of pure income. Not the same.  If you sit on that mined bitcoin until it is worth $US10000, and sell it, that is pure income of $US10000, but not until you exchange it for USD.  IOW, the price in US$ of BTC when you actually acquire it has no effect on your cost to acquire.

The actual direct cost to mine BTC is zero, it is found money. I bought my miners with USD, and I pay my electricity bill with USD. I can deduct those expenses against my mining revenue, but only after the revenue is converted from BTC into USD,  regardless of what the price was at the time I "found" the bitcoin.  Hopefully I can continue pay the bills from other sources until the BTC price increases to something worthwhile.

The BTC cost for MINING is likely zero.  The cost for TRADING is whatever you paid and sold it for in US$. If you are doing both mining and trading, my suggestion would be to keep separate wallets for each activity.  



Not true at all.  Mining does cost money, you can write off power, machines, hosting, etc...


Now we're getting off-topic, so back to MINING ON WITH KANO-SAN!


You are correct. This has turned from a simple question, into alot of speculative responses. I just wanted the info for recording keeping, in the event the IRS decides to pull the wool down over unsuspecting eyes. The information on hand, would be ALOT easier to see, than having to go back and dig up.

Goodluck to us ALL!!! C'mon BTClock!!!

Click these links to learn some truth about Big Corporate mining pools stealing your money and centralizing BTCitcoin!!!
Help support the BTCitcoin community!!! Mine your BTCitcoin at a non-Corporate pool!!! BTC: 1ShazamjsPnpWDNnk3n2tAiKGMdXaSjay
I mine BTCitcoin at a non-Corporate pool with no hidden fees, no empty BTClocks: Kano Pool   ■ get Kano Pool signature banners here ■
jhoren
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April 08, 2018, 08:32:25 PM
 #39068

Someone had mentioned they wanted a notification if their miner was off the Kano pool and I thought that would be a great idea.

I went ahead and threw together a quick cron that will sms me if my hashrate goes under a particular amount.

It will draw from your kano api and I use Twilio for my text api.

It will check on every five minute mark: 12:00, 12:05, 12:10...

It will send an sms if the hashrate goes below the amount I set in the config or if the values comes back undefined/null. I only have one worker so it has only been set up for one. You'll need to expand it for more if you have others.

It should be easy enough to run from your own machine's command line. Just update the configSetup.json file with your own info and save it as config.json. Then npm install and then node app.js.

The very first sms will always be "not defined".

https://github.com/jhoren/checkhashrate


I Mine at Kano Pool (https://kano.is).

BTC: 3DnjqXfLddc6zG7kN7gyzQHcG51yEhm9Si
clgrissom3
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April 08, 2018, 09:10:52 PM
 #39069

Someone had mentioned they wanted a notification if their miner was off the Kano pool and I thought that would be a great idea.

I went ahead and threw together a quick cron that will sms me if my hashrate goes under a particular amount.

It will draw from your kano api and I use Twilio for my text api.

It will check on every five minute mark: 12:00, 12:05, 12:10...

It will send an sms if the hashrate goes below the amount I set in the config or if the values comes back undefined/null. I only have one worker so it has only been set up for one. You'll need to expand it for more if you have others.

It should be easy enough to run from your own machine's command line. Just update the configSetup.json file with your own info and save it as config.json. Then npm install and then node app.js.

The very first sms will always be "not defined".

https://github.com/jhoren/checkhashrate

You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
jhoren
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April 08, 2018, 09:14:30 PM
 #39070

Someone had mentioned they wanted a notification if their miner was off the Kano pool and I thought that would be a great idea.

I went ahead and threw together a quick cron that will sms me if my hashrate goes under a particular amount.

It will draw from your kano api and I use Twilio for my text api.

It will check on every five minute mark: 12:00, 12:05, 12:10...

It will send an sms if the hashrate goes below the amount I set in the config or if the values comes back undefined/null. I only have one worker so it has only been set up for one. You'll need to expand it for more if you have others.

It should be easy enough to run from your own machine's command line. Just update the configSetup.json file with your own info and save it as config.json. Then npm install and then node app.js.

The very first sms will always be "not defined".

https://github.com/jhoren/checkhashrate

You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

Not sure. I have the ckpool app installed and it pushes a notification if a block is found but I haven't seen it push any other notifications. I can check my hashrate but I'm not notified.

If there's other apps or monitoring systems, I'd be happy to see them. As a noob I'm unaware of all the tools available and I certainly don't want to remake any wheels.

I Mine at Kano Pool (https://kano.is).

BTC: 3DnjqXfLddc6zG7kN7gyzQHcG51yEhm9Si
clgrissom3
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April 08, 2018, 09:49:26 PM
 #39071


You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

Not sure. I have the ckpool app installed and it pushes a notification if a block is found but I haven't seen it push any other notifications. I can check my hashrate but I'm not notified.

If there's other apps or monitoring systems, I'd be happy to see them. As a noob I'm unaware of all the tools available and I certainly don't want to remake any wheels.

I currently get 3 notices when one of my miners drops below the hashrate I set; 1 push notice from the Apple app to my iphone; a text message to my phone from zachmonroe web site, and an email from the zachmonroe website.  I also get 2 notices each time we hit a block; 1 from the Apple app and 1 from the zachmonroe website.  I understand that the minergain web site does the same thing and I have never tried the android app so I can't speak for that one.

Apple App (find on the Apple App Store):
https://bitcointalk.org/index.php?topic=1344360.0

Android App, read in the thread here:
https://bitcointalk.org/index.php?topic=789369.msg11091187#msg11091187

For miner monitoring (Zach Monroe Web site):
https://ckpoolmonitor.zachmonroe.com/
https://bitcointalk.org/index.php?topic=1331875.0

For miner monitoring (minergain Web site):
https://www.minergain.com/

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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April 08, 2018, 10:03:58 PM
 #39072

I have never tried the android app so I can't speak for that one.

The android app sends me a notification when hashrate has dropped below my set limit. It also sends one when a block is found, although there's about a 30min delay. When opened, it reports a fairly accurate hashrate of my miners.

Click these links to learn some truth about Big Corporate mining pools stealing your money and centralizing BTCitcoin!!!
Help support the BTCitcoin community!!! Mine your BTCitcoin at a non-Corporate pool!!! BTC: 1ShazamjsPnpWDNnk3n2tAiKGMdXaSjay
I mine BTCitcoin at a non-Corporate pool with no hidden fees, no empty BTClocks: Kano Pool   ■ get Kano Pool signature banners here ■
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April 08, 2018, 10:15:11 PM
 #39073


You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

Not sure. I have the ckpool app installed and it pushes a notification if a block is found but I haven't seen it push any other notifications. I can check my hashrate but I'm not notified.

If there's other apps or monitoring systems, I'd be happy to see them. As a noob I'm unaware of all the tools available and I certainly don't want to remake any wheels.

I currently get 3 notices when one of my miners drops below the hashrate I set; 1 push notice from the Apple app to my iphone; a text message to my phone from zachmonroe web site, and an email from the zachmonroe website.  I also get 2 notices each time we hit a block; 1 from the Apple app and 1 from the zachmonroe website.  I understand that the minergain web site does the same thing and I have never tried the android app so I can't speak for that one.

Apple App (find on the Apple App Store):
https://bitcointalk.org/index.php?topic=1344360.0

Android App, read in the thread here:
https://bitcointalk.org/index.php?topic=789369.msg11091187#msg11091187

For miner monitoring (Zach Monroe Web site):
https://ckpoolmonitor.zachmonroe.com/
https://bitcointalk.org/index.php?topic=1331875.0

For miner monitoring (minergain Web site):
https://www.minergain.com/

Awesome, thank you. I'll check them out.

I Mine at Kano Pool (https://kano.is).

BTC: 3DnjqXfLddc6zG7kN7gyzQHcG51yEhm9Si
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April 08, 2018, 10:18:31 PM
 #39074

Well...according to a close relative who is actually an IRS person...it's income when you cash it for USD...NOT when you mine it. Same as gold bullion.

I would recommend not taking tax advice from that person.  The IRS has declared that when you receive mining revenue it is treated as ordinary income, at the time you receive it, even if you don't convert it to USD right then.

There are financial reasons, if you are hodling, to pay your taxes now on coin mined now, that will save you a lot of money long term.
dutchlincoln
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April 08, 2018, 10:20:09 PM
 #39075

No rewards past 3 days...  Angry


i have to admit that its a hard bite to mine here.... Past week got me profit of one day mining at nicehash....
Hope to see better within next week, or i'll put all of them back to nicehash again... Sorry..
kano
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April 08, 2018, 10:21:21 PM
 #39076


You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

Not sure. I have the ckpool app installed and it pushes a notification if a block is found but I haven't seen it push any other notifications. I can check my hashrate but I'm not notified.

If there's other apps or monitoring systems, I'd be happy to see them. As a noob I'm unaware of all the tools available and I certainly don't want to remake any wheels.

I currently get 3 notices when one of my miners drops below the hashrate I set; 1 push notice from the Apple app to my iphone; a text message to my phone from zachmonroe web site, and an email from the zachmonroe website.  I also get 2 notices each time we hit a block; 1 from the Apple app and 1 from the zachmonroe website.  I understand that the minergain web site does the same thing and I have never tried the android app so I can't speak for that one.

Apple App (find on the Apple App Store):
https://bitcointalk.org/index.php?topic=1344360.0

Android App, read in the thread here:
https://bitcointalk.org/index.php?topic=789369.msg11091187#msg11091187

For miner monitoring (Zach Monroe Web site):
https://ckpoolmonitor.zachmonroe.com/
https://bitcointalk.org/index.php?topic=1331875.0

For miner monitoring (minergain Web site):
https://www.minergain.com/

Awesome, thank you. I'll check them out.
There is, of course, nothing at all wrong with sharing another way to do it yourself Smiley

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
kano
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April 08, 2018, 10:21:59 PM
 #39077

No rewards past 3 days...  Angry


i have to admit that its a hard bite to mine here.... Past week got me profit of one day mining at nicehash....
Hope to see better within next week, or i'll put all of them back to nicehash again... Sorry..
https://bitcointalk.org/index.php?topic=789369.msg34226997#msg34226997

Pool: https://kano.is Here on Bitcointalk: Forum BTC: 1KanoPb8cKYqNrswjaA8cRDk4FAS9eDMLU
FreeNode IRC: irc.freenode.net channel #kano.is Majority developer of the ckpool code
Help keep Bitcoin secure by mining on pools with full block verification on all blocks - and NO empty blocks!
dutchlincoln
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April 08, 2018, 10:23:03 PM
 #39078

Well...according to a close relative who is actually an IRS person...it's income when you cash it for USD...NOT when you mine it. Same as gold bullion.

I would recommend not taking tax advice from that person.  The IRS has declared that when you receive mining revenue it is treated as ordinary income, at the time you receive it, even if you don't convert it to USD right then.

There are financial reasons, if you are hodling, to pay your taxes now on coin mined now, that will save you a lot of money long term.


And since its different in every country, and way offtopic, we can quit the tax/irs discussion i guess?
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April 08, 2018, 10:43:38 PM
 #39079

No rewards past 3 days...  Angry

i have to admit that its a hard bite to mine here.... Past week got me profit of one day mining at nicehash....
Hope to see better within next week, or i'll put all of them back to nicehash again... Sorry..

I see 3 days, past week, 1 day, and next week in your post.  Are you sure you understand how BTC mining actually works?  The math will never work to the timetable you are working with.

All pools are expected to hit 100% statistically over time and the real separation comes in 1) does the pool give transaction fees to the miners and 2) what are the pool fees.  Once you understand this concept, short term physical comparisons become an exercise in futility...they simply can not resolve anything at all.  Making business decisions like that can become disastrous.  You may as well flip a coin...it would probably give you better results.

I proudly mine at the KanoPool, the Best Bitcoin Pool in the World!
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April 08, 2018, 10:48:05 PM
 #39080


You realize that there are 2 different apps and 2 different web monitoring systems that do this for the CKPool right now, right?

They all currently use Kano's API...3 are listed on page 1 of this thread and minergain.com does it also.

Not sure. I have the ckpool app installed and it pushes a notification if a block is found but I haven't seen it push any other notifications. I can check my hashrate but I'm not notified.

If there's other apps or monitoring systems, I'd be happy to see them. As a noob I'm unaware of all the tools available and I certainly don't want to remake any wheels.

I currently get 3 notices when one of my miners drops below the hashrate I set; 1 push notice from the Apple app to my iphone; a text message to my phone from zachmonroe web site, and an email from the zachmonroe website.  I also get 2 notices each time we hit a block; 1 from the Apple app and 1 from the zachmonroe website.  I understand that the minergain web site does the same thing and I have never tried the android app so I can't speak for that one.

Apple App (find on the Apple App Store):
https://bitcointalk.org/index.php?topic=1344360.0

Android App, read in the thread here:
https://bitcointalk.org/index.php?topic=789369.msg11091187#msg11091187

For miner monitoring (Zach Monroe Web site):
https://ckpoolmonitor.zachmonroe.com/
https://bitcointalk.org/index.php?topic=1331875.0

For miner monitoring (minergain Web site):
https://www.minergain.com/

Alright, I signed up on the CKPool Monitoring website and did a quick Zap to push it as an SMS to my phone. Should work well. Appreciate it.

I Mine at Kano Pool (https://kano.is).

BTC: 3DnjqXfLddc6zG7kN7gyzQHcG51yEhm9Si
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