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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1395

post #13941 of 22315
Quote:
Originally Posted by blkdoutgsxr View Post

What board are you on? can always try swapping out the riser with one you know works and see if the other card stops working.

I have a spare riser I can try. The more important issue is now that I can't even mine under Windows 8.1. It either crashes for no reason an hour or two into mining. Or freezes when I try to start forcing a hard reboot.

I tried installing Ubuntu but I just got a blank screen with my cursor after selecting "install Ubuntu." Using a USB and I used the recommended program to create the USB boot drive.

Jeffinslaw
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post #13942 of 22315
Quote:
Originally Posted by DiGiCiDAL View Post

I think that's a very safe bet... I'm still holding off for the final announcement as I expect Gox to try to assuage fears a little longer until their true exit strategy (like new identities and moving to a country without extradition) can be fully implemented. My guess is they're sitting on a $100M+ shortfall and they fully understand that people will be murdered for that kind of loss. wink.gif

People have killed for much less. Not to mention, it's BITCOIN we're talking about here and people are sitting on MILLIONS of dollars worth of coins too...

Bitcoin
Anonymity
Tor
Deepnet
Silk Road
.
.
.


rolleyes.gif
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post #13943 of 22315
Quote:
Originally Posted by Syan48306 View Post

That's one way of looking at it, but it doesn't change the fact that you're using equipment you bought with money to convert to bitcoins. You could make the argument that you'd by a quad R9 290 system for the purpose of gaming but it'd be mining 90% of the time thus it's already paid off because it's purpose is gaming.

Either way, it doesn't change the fact that you're spending at least $100 dollars per bitcoin in electricity which is what it works out to be if you got an efficient system. That's not a bad exchange but by no means is that "free"

it does all depend how you look at it really. stop saying about 290's I don't want any rolleyes.gif are you trying to sell me some biggrin.gif

if I stop mining because it loses value I still have a gaming rig so that is actually not a loss really is it, it still has purpose. where as if your investing fiat into bitcoins what will you have if it collapses?

my point is basically mining is a better ROI,less risky & the electricity to BTC price is better than purchasing them.
Edited by korruptedkaos - 2/25/14 at 9:33am
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post #13944 of 22315
Quote:
Originally Posted by korruptedkaos View Post

it does all depend how you look at it really. stop saying about 290's I don't want any rolleyes.gif are you trying to sell me some biggrin.gif

if I stop mining because it loses value I still have a gaming rig so that is actually not a loss really is it, it still has purpose. where as if your investing fiat into bitcoins what will you have if it collapses?

my point is basically mining is a better ROI,less risky & the electricity to BTC price is better than purchasing them.

Look at it from a Tax stand point.. Its all capital gains so your taxed heavily.. As a trader any profit gets taxed..

If you are a miner.. you write off the hardware, electricity, internet, rent for the space.. then anything over the cost for operation that is profit gets taxed.. So at the end of the day when you call it quits you get hardware.. and maybe get to pay a portion of your rent through mining long with the internet

I am not in a position to say that what I am saying above is 100% fact.. I just read a few articles on it from Forbes this morning as I am concerned myself.
post #13945 of 22315
Quote:
Originally Posted by JMattes View Post

Look at it from a Tax stand point.. Its all capital gains so your taxed heavily.. As a trader any profit gets taxed..

If you are a miner.. you write off the hardware, electricity, internet, rent for the space.. then anything over the cost for operation that is profit gets taxed.. So at the end of the day when you call it quits you get hardware.. and maybe get to pay a portion of your rent through mining long with the internet

I am not in a position to say that what I am saying above is 100% fact.. I just read a few articles on it from Forbes this morning as I am concerned myself.

Trust me on this point... quit now. You will never succeed in anything but a lot of wasted keystrokes. smile.gif

Don't get me wrong... I agree with you 100% - but been there and done that... and you're barking up the wrong tree my friend. biggrin.gif
post #13946 of 22315
Quote:
Originally Posted by barkinos98 View Post

How do you guys still mine doge i dont get...
It has low rates, and difficulty is very high compared to other coins.
Like, why not find an easy coin and mine the hell out of it to profit more?
easy like what?
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post #13947 of 22315
Quote:
Originally Posted by JMattes View Post

Look at it from a Tax stand point.. Its all capital gains so your taxed heavily.. As a trader any profit gets taxed..

If you are a miner.. you write off the hardware, electricity, internet, rent for the space.. then anything over the cost for operation that is profit gets taxed.. So at the end of the day when you call it quits you get hardware.. and maybe get to pay a portion of your rent through mining long with the internet

I am not in a position to say that what I am saying above is 100% fact.. I just read a few articles on it from Forbes this morning as I am concerned myself.

Screw tax!

if your clever enough you can dodge that all day.

If you was earning that much from it to worry you, or you somehow you get caught out!
id happily do the 2 years inside for fraud & make sure no assets were in my name & that little nest egg was waiting for me when I come out biggrin.gif

seriously talking from experience knowing people who have done it. I would do 2 years for £2,000,000 in dodged taxes.

even at the lower level whats to stop you from purchasing goods with BTC and reselling it slighty undervalue locally with no tax or anything involved.
just cash sales to people! who would know?

tongue.gif
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post #13948 of 22315
Quote:
Originally Posted by DiGiCiDAL View Post

Trust me on this point... quit now. You will never succeed in anything but a lot of wasted keystrokes. smile.gif

Don't get me wrong... I agree with you 100% - but been there and done that... and you're barking up the wrong tree my friend. biggrin.gif

I dont get it.. what do you mean? Do you mean my topic on taxing?

I honestly only think someone who got in the at the beginning will even be bothered by the IRS.. My $100-$200 deposits everyone once in awhile will probably go completely unnoticed.. but if for some odd reason they do.. I have a spread sheet for my electricity usage and hardware purchases and for the larger purchases I even have copies of the receipts in a holder.. I highly doubt I will pay off my hardware and electricity let a long actually gain anything..

I cash out through Coinbase.. haha oh they know.. But your right thats what I should be doing.. tigerdirect.. haha

Now if only btc would rebound to $650 already.. I have another $200 that I would like to collect before I get my electricity bill for the month..
Edited by JMattes - 2/25/14 at 10:03am
post #13949 of 22315
Hey Kaos, you've been piquing my curiosity for some time now, what cards do you have at the moment?
post #13950 of 22315
Quote:
Originally Posted by JMattes View Post

I dont get it.. what do you mean? Do you mean my topic on taxing?

I honestly only think someone who got in the at the beginning will even be bothered by the IRS.. My $100-$200 deposits everyone once in awhile will probably go completely unnoticed.. but if for some odd reason they do.. I have a spread sheet for my electricity usage and hardware purchases and for the larger purchases I even have copies of the receipts in a holder.. I highly doubt I will pay off my hardware and electricity let a long actually gain anything..

I think he means trying to get me to understand your point about taxes!

Me & Digicidal have very different opinions on the whole thing, as he has said before we are from different demographics.

he abides & conforms to the current system, I on the other hand just look for ways to abuse it biggrin.gif
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