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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1131

post #11301 of 22837
Quote:
Originally Posted by Minusorange View Post

It's only tax free as long as you keep it virtual, as soon as you transfer it at the exchanges to standard currency then by law you have to declare it as earnings once you go past the "tax free" freshold.

And that's why I am glad my dad worked for the IRS for 30 years. If there is way to avoid paying taxes he'll find a way.
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post #11302 of 22837
Quote:
Originally Posted by AnnoyinDemon View Post

how much bitcoins do you get in a month? a half?

You will not get Bitcoins directly with GPU mining, the difficulty of mining Bitcoin is beyond even the best GPU setups, which means you need to mine one of the 100-150 alt-coins. How many you get a month will depend upon a lot of variables such as which coin you want to mine, the more popular a coin is to mine, the higher the difficulty gets (this is the condensed version) but once you get coins in hand, those coins can then be sold on exchanges for usually slivers of Bitcoin if you wish or Litecoin. Beyond that, you need to start doing your own research, Google, YouTube and Ask.com are beautiful things.
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post #11303 of 22837
[/quote]
Quote:
Originally Posted by beans444 View Post

Yeah just noticed it is. I'm trying to set up still.. Can't link my crptsy to trademybit I read the FAQ but it I can't get my BTC Address: to validate.. Maybe I'm doing something wrong?

I was just doing the same thing. I have deposit addresses for some coins but not all of them.
Quote:
Originally Posted by phill1978 View Post

speculate to accumulate?

I'm not sure I follow? I was saying if I had enough disposable income to spend like he's interested in doing I would. If it came down to spending the 10 grand I have saved for my first house in hopes of doubling it in 6 months that's just crazy. Tempting but crazy. I wish I could though I see those people with 50 to a 100 mh/s generating serious money but it took serious money to get there. I feel like alot of those pool leaders are just a few people who trust each other using the same miner to get the benefits of more coins. Maybe I'm wrong? Hopefully I didn't get involved in this too late in the game and can still make a little extra money for a long period of time.

Edit -Cryptsy's back
post #11304 of 22837
You can mine scrypt coins and get paid in BTC on middlecoin.com

Anyways, Nutcoin difficulty is only 0.8 now, mine some Nut coins, buy some Nut coins and wait for the pump biggrin.gif
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post #11305 of 22837
Nutcoin is only worth 0.00000050 LTC?!?!? But what about NUTLAW? rolleyes.gif

Nutcoin could literally be the worst coin to mine ATM, I have not done the math yet, but I would be netting somewhere around 1LTC per 5Mhash per day LoL
Edited by blkdoutgsxr - 2/2/14 at 11:59am
post #11306 of 22837
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post #11307 of 22837
Quote:
Originally Posted by blkdoutgsxr View Post

Nutcoin is only worth 0.00000050 LTC?!?!? But what about NUTLAW? rolleyes.gif

Nutcoin could literally be the worst coin to mine ATM, I have not done the math yet, but I would be netting somewhere around 1LTC per 5Mhash per day LoL

It's all being done on speculation at this point, but I've been mining it 24/7 for three weeks now. And please read the latest posts in the thread in my signature. I've been making Nutcoin wallets for each of my kids and putting 1M Nutcoins in each wallet, it's starting to make me look Nutcoin poor.
Edited by Roulette Run - 2/2/14 at 12:07pm
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post #11308 of 22837
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post #11309 of 22837
Quote:
Originally Posted by Kenerd View Post


I'm not sure I follow? I was saying if I had enough disposable income to spend like he's interested in doing I would. If it came down to spending the 10 grand I have saved for my first house in hopes of doubling it in 6 months that's just crazy. Tempting but crazy. I wish I could though I see those people with 50 to a 100 mh/s generating serious money but it took serious money to get there. I feel like alot of those pool leaders are just a few people who trust each other using the same miner to get the benefits of more coins. Maybe I'm wrong? Hopefully I didn't get involved in this too late in the game and can still make a little extra money for a long period of time.

Edit -Cryptsy's back

well in this situation the first house is the 2nd already (as in 2 steps on the ladder) and existing full time jobs pay for everything so it would be an speculative investment. What im simply asking is: how long is the mining craze going to reap rewards for triple, quadruple or even as suggested 24 card setup before it bottoms out and either huge companies step in and make things more difficult with their uber server rigs or even just basic regulation and government gets involved (which usually ruins things) ? At the moment it just seems plain crazy to make $800 a month from leaving a 1KW rig on 24/7 mining to a pool and just checking your smart phone now and again at work for realtime updates to see how your GPU's are doing..

I mean really, 10 mins to setup and 3 7970's or 290's and your in the money? 8 cards and its more than a lot of peoples take home pay for doing naff all.

It sort of undermines (no pun, or perhaps its the exact metaphor) real physical work.
Edited by Pip Boy - 2/2/14 at 12:20pm
post #11310 of 22837
Quote:
Originally Posted by Roulette Run View Post

It's all being done on speculation at this point, but I've been mining it 24/7 for three weeks now. And please read the latest posts in the thread in my signature. I've been making Nutcoin wallets for each of my kids and putting 1M Nutcoins in each wallet, it's starting to make me look Nutcoin poor.

I don't mean any offense by this, but you mining this for the last three weeks has turned out to be a huge mistake. If you are looking to maximize your profits you would have been doubled your profits by sticking to DOGE and converting. I understand what everyone at the Fan site is saying, but realistically it is a bunch of wishful thinking based on a 'NutLaw' that is arbitrary. IMO nutcoin is just another scrypt coin that has a 'fancy' graph to trick people who do not understand valuation into mining it. I only bring this up because NutCoin followers commonly misguide people on mining it, always saying 'OMG but what if.... Nutlaw?'... Well, turns out people are not willing to buy at huge prices, people are willing to dump the coin. So per Mhash you have been mining .2 LTC/mhash per day (ish) and I have been mining .5/mhash/day (ish)...
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