KanoPool since 2014 🐈 - PPLNS and Solo 0.5% fee - Worldwide - 2435 blocks

[wavelengthsf]

I have a question for anyone willing to share.  According to the US Tax Authorities, blocks should be reported as income when they are earned or when they are paid (your choice as long as it is consistent).  Although this obviously is hard for anyone to track, but I am going to report this to reduce the chance of issues with my other crypto investments that is harder to report (little piggy is cute / big piggies get slaughtered).

As part of that, I am building in historical prices so any of us can import rewards and the system will give you the US dollar (tether) value based on the average price for the day it was found.  Going forward, it will have up to the minute BTC prices.  I am going to build in international currency tables as well and would like to know which currencies people have interest in and how far back I should go.  I have a data source that will give daily values for 166 currencies going forward.  I have another with history for 2017 for these currencies: AUD, BRL, CAD, CNY, EUR, HKD, INR, IDR, JPY, MYR, MXN, NZD, NOK, PEN, RUB, SAR, SGD, ZAR, KRW, SEK, CHF, TWD, THB, TRY, GBP, USD, VND.  

First off, is anyone interested in this at all?  Secondly, would you like a currency other than these?  Third, does anyone need this data before 2017?

I’d love something like that for BTC and LTC

[1713582864]

1713582864

[1713582864]

1713582864

[1713582864]

1713582864

[1713582864]

1713582864

[1713582864]

1713582864

[HSchmirPo]

@minergain.com

Good idea. I would like BTC and ZEC.

[Chili.Dog]

@minergain

A great idea, I've been going crazy tying to get all that together.
The IRS in the USA is no one you want to play games with.
Sign me up when you put it together.
Thank You for your effort.

Chili

[Sierra8561]

I have a question for anyone willing to share.  According to the US Tax Authorities, blocks should be reported as income when they are earned or when they are paid (your choice as long as it is consistent).  Although this obviously is hard for anyone to track, but I am going to report this to reduce the chance of issues with my other crypto investments that is harder to report (little piggy is cute / big piggies get slaughtered).

As part of that, I am building in historical prices so any of us can import rewards and the system will give you the US dollar (tether) value based on the average price for the day it was found.  Going forward, it will have up to the minute BTC prices.  I am going to build in international currency tables as well and would like to know which currencies people have interest in and how far back I should go.  I have a data source that will give daily values for 166 currencies going forward.  I have another with history for 2017 for these currencies: AUD, BRL, CAD, CNY, EUR, HKD, INR, IDR, JPY, MYR, MXN, NZD, NOK, PEN, RUB, SAR, SGD, ZAR, KRW, SEK, CHF, TWD, THB, TRY, GBP, USD, VND.  

First off, is anyone interested in this at all?  Secondly, would you like a currency other than these?  Third, does anyone need this data before 2017?

I’d love something like that for BTC and LTC

BTC is considered a commodity in the US I'm definitely not a accountant, but only claim BTC as income when converted to USD.

[rifleman74]

I have a question for anyone willing to share.  According to the US Tax Authorities, blocks should be reported as income when they are earned or when they are paid (your choice as long as it is consistent).  Although this obviously is hard for anyone to track, but I am going to report this to reduce the chance of issues with my other crypto investments that is harder to report (little piggy is cute / big piggies get slaughtered).

As part of that, I am building in historical prices so any of us can import rewards and the system will give you the US dollar (tether) value based on the average price for the day it was found.  Going forward, it will have up to the minute BTC prices.  I am going to build in international currency tables as well and would like to know which currencies people have interest in and how far back I should go.  I have a data source that will give daily values for 166 currencies going forward.  I have another with history for 2017 for these currencies: AUD, BRL, CAD, CNY, EUR, HKD, INR, IDR, JPY, MYR, MXN, NZD, NOK, PEN, RUB, SAR, SGD, ZAR, KRW, SEK, CHF, TWD, THB, TRY, GBP, USD, VND.  

First off, is anyone interested in this at all?  Secondly, would you like a currency other than these?  Third, does anyone need this data before 2017?

I’d love something like that for BTC and LTC

BTC is considered a commodity in the US I'm definitely not a accountant, but only claim BTC as income when converted to USD.

That's the way we've treated them as well...conversion only.  Otherwise it's just like a long-term stock gain, you are up on paper but haven't sold it to cash yet.

[minergain.com]

I asked my accountant of almost 30 years and he shared the following document that I posted on our forum at minergain dot com under the MinerGain Forum › Getting Started With Crypto › Investing In Bitcoin, Ethereum and other AltCoins area.  It directly covers mining rewards as immediate income (power and equipment can be subtracted as costs of course).  It does seem that buying and selling the currency has a few more gray areas - which I have chosen to use the method Sierra8561 described for those.  I would post a link here but it would probably be removed.  

Also, you can sign up for a free account and add your kanopool api information under the pools section.  I do not have the miner monitoring happening yet, but the real time currency tracking has been active for about 2 weeks (current details shown on home page).  I have also brought in lifetime prices for BTC and ETH already.  Since my plan is to offer this is free forever, I am doing this in my spare time, so it is a little bit slow - but should be done well before the end of the year since I need it.  Once tracking is active, I will send an email to everyone who is registered.  I will also have an import of your kano rewards created soon as well since that is not shared via the API.

[firetreeactual]

I have a question for anyone willing to share.  According to the US Tax Authorities, blocks should be reported as income when they are earned or when they are paid (your choice as long as it is consistent).  Although this obviously is hard for anyone to track, but I am going to report this to reduce the chance of issues with my other crypto investments that is harder to report (little piggy is cute / big piggies get slaughtered).

As part of that, I am building in historical prices so any of us can import rewards and the system will give you the US dollar (tether) value based on the average price for the day it was found.  Going forward, it will have up to the minute BTC prices.  I am going to build in international currency tables as well and would like to know which currencies people have interest in and how far back I should go.  I have a data source that will give daily values for 166 currencies going forward.  I have another with history for 2017 for these currencies: AUD, BRL, CAD, CNY, EUR, HKD, INR, IDR, JPY, MYR, MXN, NZD, NOK, PEN, RUB, SAR, SGD, ZAR, KRW, SEK, CHF, TWD, THB, TRY, GBP, USD, VND.  

First off, is anyone interested in this at all?  Secondly, would you like a currency other than these?  Third, does anyone need this data before 2017?

I’d love something like that for BTC and LTC

BTC is considered a commodity in the US I'm definitely not a accountant, but only claim BTC as income when converted to USD.

As a former bank examiner, that's my understanding. While the US Treasury recognizes BTC as a currency, it is "virtual" until it's negotiated. That can be via buying online and paying via Bitpay, or exchanging to a bank. I report when I sell BTC to Bitpay to go on the debit card. While I don't wish to argue with someone's CPA, I think it's a bit ludicrous to try to figure a tax liability on something as volatile as BTC at ANY given point in time, and call it "tax debt." I know three people who actually work at IRS who have told me up front that the agency really doesn't have BTC...or any other coin...under even basic understanding. Their focus is collecting tax, and they want to get it at the earliest possible moment. We'll have to see, I guess.

Re knowing the various exchange rates...here's a good place.

https://bitpay.com/bitcoin-exchange-rates

[padrinogtr]

Block! by miner3311
Welcome to the acclaim board

Yeah for waking up to a block this morning.  If my daily math calculations are right (which is actually through the end of 11/24), we are at .00020386 BTC per Day per TH which is 29% better than last month even though we are about 1/5th the size.

I have a question for anyone willing to share.  According to the US Tax Authorities, blocks should be reported as income when they are earned or when they are paid (your choice as long as it is consistent).  Although this obviously is hard for anyone to track, but I am going to report this to reduce the chance of issues with my other crypto investments that is harder to report (little piggy is cute / big piggies get slaughtered).

As part of that, I am building in historical prices so any of us can import rewards and the system will give you the US dollar (tether) value based on the average price for the day it was found.  Going forward, it will have up to the minute BTC prices.  I am going to build in international currency tables as well and would like to know which currencies people have interest in and how far back I should go.  I have a data source that will give daily values for 166 currencies going forward.  I have another with history for 2017 for these currencies: AUD, BRL, CAD, CNY, EUR, HKD, INR, IDR, JPY, MYR, MXN, NZD, NOK, PEN, RUB, SAR, SGD, ZAR, KRW, SEK, CHF, TWD, THB, TRY, GBP, USD, VND.  

First off, is anyone interested in this at all?  Secondly, would you like a currency other than these?  Third, does anyone need this data before 2017?

good stuff

[minergain.com]

As a former bank examiner, that's my understanding. While the US Treasury recognizes BTC as a currency, it is "virtual" until it's negotiated. That can be via buying online and paying via Bitpay, or exchanging to a bank. I report when I sell BTC to Bitpay to go on the debit card. While I don't wish to argue with someone's CPA, I think it's a bit ludicrous to try to figure a tax liability on something as volatile as BTC at ANY given point in time, and call it "tax debt." I know three people who actually work at IRS who have told me up front that the agency really doesn't have BTC...or any other coin...under even basic understanding. Their focus is collecting tax, and they want to get it at the earliest possible moment. We'll have to see, I guess.

Re knowing the various exchange rates...here's a good place.

https://bitpay.com/bitcoin-exchange-rates

Thanks so much FireTreeActual.  Nice to have another respected opinion (mine is not by the way - I'm still learning).  It makes sense that BTC is not real because it all could be gone tomorrow with the wrong circumstances.  My accountant did tell me that tax/accounting issues are in their infancy and subject to a lot of change.  And as I mentioned, it is pretty hard for tracking to happen.  I have seen the exchanges starting to require more info, so I suspect moves are being made by the IRS to "collect" as much tax as they can. 

My feeling is that having a consistent approach and making an effort to report some income will go a long way to keeping "the man" from taking a heavy handed tax / penalty approach later on.  Could it be that mining is supposed to be reported as income as it occurs since the power would be written off?  If anyone is like me, my BTC holdings will most certainly go longer than the year it was mined. 

[padrinogtr]

Difficulty is down slightly. Enjoy

[firetreeactual]

I generally put 30% of any BTC earnings in a separate, unlinked Core on a dedicated laptop. It only accesses the Internet to sync up every couple of days, or if I'm transferring BTC in or out. It's my "cold storage." EDIT: That's what I consider my "tax reserve."

I track BTC earnings in a LibreOffice database, so that if I ever have to produce a record it's there. Since my other income puts me below poverty level, I'm not in any great risk in any case...but I'm not so stupid as to ignore tax liability.

Mine on.

[Waztim]

https://halongmining.com/

I am interested in buying these miners, forum please provide any insight into these. Many thanks.

 

[minergain.com]

https://halongmining.com/

I am interested in buying these miners, forum please provide any insight into these. Many thanks.

 

I looked at those too. It is tricky to know what are scams and what is legit. I have had a couple instances of scams  on eBay and fortunately I asked lots of questions before I pulled the trigger which scared then off.  Sending wire transfers to China is pretty tough in the crypto world and no matter how you pay, there is no way to get your money back if the vendor does not return it themselves. And waiting till March delivery is a long time to be without your money that may be gone  for good. Ask questions if you can and good luck with it.

[Apprentice]

https://halongmining.com/

I am interested in buying these miners, forum please provide any insight into these. Many thanks.

 

The demo clip is not convincing. There no real correlation between the unit and the software.

[kano]

Block! by Moosawi
Not very big coz it was only 18s (and the previous network block was only 65 seconds also)
The first two confirms were also quick (72s and 107s)
Lotsa quick blocks!

[Newko]

https://halongmining.com/

I am interested in buying these miners, forum please provide any insight into these. Many thanks.

 

The demo clip is not convincing. There no real correlation between the unit and the software.

Smells fishy to me. I would NOT invest until they are proven to be real. If they succeed, that would be great and then you can buy during 2nd production run. Right now, I would not go anywhere near this. Just my humble opinion.

[nazzer]

Block! by Moosawi
Not very big coz it was only 18s (and the previous network block was only 65 seconds also)
The first two confirms were also quick (72s and 107s)
Lotsa quick blocks!

I'm so glad I connected my first S9 to Kano last week despite so many large miners leaving.

Looking forward to connecting many more from January

[Waztim]

Thanks, I am going to take your advice. I sent an email to them to see if they would hold the $$$ in a smart contract, meaning if they didn't deliver, they wouldn't get the money..... I got crickets back from them. They may be legit, but I am think maybe not. Wait and see......

[minergain.com]

Thanks, I am going to take your advice. I sent an email to them to see if they would hold the $$$ in a smart contract, meaning if they didn't deliver, they wouldn't get the money..... I got crickets back from them. They may be legit, but I am think maybe not. Wait and see......

Super smart option.  So can you do smart contracts with BTC or is it just Ethereum?

[Didley1JT]

So many blocks!! Kano pool is on fire.