|
I'm holding like 100 bux in BTC hoping it goes to the moon faster than ETH so I can cashout next week 
|
#
?
Jan 2, 2018 16:13
|
|
|
|
| # ? May 21, 2024 18:34 |
|
|
Taxation is theft
|
|
#
?
Jan 2, 2018 16:21
|
|
|
SSH IT ZOMBIE posted:20% on capital gains, if you buy or mine it at one price and then use it when it is 50% higher...then yeah. Maybe it will stop the wild swings. Even in communist Sweden you have to treat cryptocurrency mining as taxable income. Exactly how it should be reported is still a gray area though. The tax authority's website has information about selling cryptocurrency, CS:GO skins and TF2 hats but not about cryptocurrency mining, at least not yet. I guess you could try calling it "hobbyist income" (normally used for things like selling knitted sweaters or home made jam or such things) which is trivially easy to report and taxed like regular wage income, but I could see an argument being made that by mining for a pool you're effectively renting out your property (GPU) so it should be treated like capital gains. Not a tax accountant, of course, and especially not a US tax accountant.
|
|
#
?
Jan 2, 2018 16:26
|
|
|
For those in the US the IRS has posted guidelines and a FAQ a few years ago which you can find here: https://www.irs.gov/pub/irs-drop/n-14-21.pdf
|
|
#
?
Jan 2, 2018 16:54
|
|
|
Dear NiceHash users! Payments for external wallet balances, greater than 0.01 BTC are going to be processed today! As you might be aware, Bitcoin transaction fees have been extremely high for the past few weeks. NiceHash is covering the transactions fees to miners, and to mitigate the cost we are going to change the fee for those payments to 5% for future payments - today's payments will be still processed at 4% fee! Fee for external wallet unpaid balances, greater than 0.1 BTC stays the same at 3%. Payments schedule for sellers stays the same for internal wallets (paid daily for balances greater than 0.001 BTC) and external wallets (paid daily for balances greater than 0.1 BTC). Payment schedule for sellers with external wallet balances greater than 0.01 BTC will be adjusted accordingly to blockchain conditions. We strongly recommend every miner to start using NiceHash internal wallet. Altcoin payments for NiceHash internal wallets are already in the works and will significantly reduce the cost of transactions and also help smaller miners to be paid more regularly! NiceHash has already implemented the direct transfer of BTC funds to Coinbase. Users are able to withdraw their balance funds from NiceHash wallet to their Coinbase account without any fees and instantly! Minimum amount to withdraw is set at 0.001 BTC. If you are already mining to external wallet address that is a Coinbase address or any other external wallet, you are always going to be dependant on very unpredictable blockchain transaction fees and conditions so we recommend you switch to NiceHash internal wallet as soon as possible. Alternative payment features will only be available for registered users as altcoin payments won’t be possible for external wallet users. Your NiceHash team.
|
|
#
?
Jan 2, 2018 19:23
|
|
|
We strongly recommend you let us hold your money, and we're raising rates when you try to get it out.
|
|
#
?
Jan 2, 2018 19:25
|
|
|
the fact that coinbase was willing to cut any kind of a deal with nicehash makes me extremely worried about coinbase.
|
|
#
?
Jan 2, 2018 19:25
|
|
|
Dr. Fishopolis posted:the fact that coinbase was willing to cut any kind of a deal with nicehash makes me extremely worried about coinbase. Same. As soon as my external wallet pays out, I’m gonna switch to their bullshit internal wallet and withdraw twice weekly. Then I’m gonna withdraw from Coinbase. If they don’t have my money, they can’t keep my money, right? Side note: digging the ETH prices, my 1070s are making $4+ daily.
|
|
#
?
Jan 2, 2018 19:34
|
|
|
Dr. Fishopolis posted:the fact that coinbase was willing to cut any kind of a deal with nicehash makes me extremely worried about coinbase. Does it involve butts? Be worried. Always.
|
|
#
?
Jan 2, 2018 19:34
|
|
|
Oh nice, good timing. Already switched to their internal wallet, but Im just glad I dont have to wait on the external address to transfer at some unknowable time. I'll be withdrawing daily out of the nicehash wallet for obvious reasons, lol. No fees into Coinbase is very nice, which is then no-fees into GDAX, which lately has been my preferred method of converting fakebux into realbux.
|
|
#
?
Jan 2, 2018 19:58
|
|
|
tehinternet posted:Same. As soon as my external wallet pays out, I’m gonna switch to their bullshit internal wallet and withdraw twice weekly. Then I’m gonna withdraw from Coinbase. If they don’t have my money, they can’t keep my money, right? Thought that said $4k daily.
|
|
#
?
Jan 2, 2018 20:02
|
|
|
Dr. Fishopolis posted:the fact that coinbase was willing to cut any kind of a deal with nicehash makes me extremely worried about coinbase. There are a number of ongoing hints that Coinbase has USD liquidity issues, this is probably an attempt to mitigate those
|
|
#
?
Jan 2, 2018 22:06
|
|
|
TraderStav posted:Thought that said $4k daily. Worth taking out a HELOC, to be sure!
|
|
#
?
Jan 3, 2018 02:18
|
|
|
4K daily is possible but the buildout would be massive. You’re talking 1200+ GPUs worth, which you will need the space and POWER for. At least 500 amps 240v just for the cards
|
|
#
?
Jan 3, 2018 03:01
|
|
|
SSH IT ZOMBIE posted:Burstcoin's wallet is only a couple gigs and it doesn't burn a lot of power since it's a proof of capacity coin - storage instead of CPU. Solutions to the blockchain puzzes sit on your hard drive in what they call plots. Hello fellow burst enthusiast! I plotted a few TB around a year ago and I let it run on an old rig just for fun. I bought some assets and it's fun to get a few BURST every now and then on it. Was pretty sure it was a dead coin but I had already plotted and the community has stuck through it so I did too. It's been interesting watching my pet crypto currency increase in value the last few months. To the moon! Or to a $1! I'm mining on http://pool.burstcoin.ro/ which is basically one guy who maintains the site AFAIK but it seems pretty stable. Join us fellow lovers of storage!
|
|
#
?
Jan 3, 2018 03:03
|
|
at the gravity people treat these coins with.
|
Numinous posted:Hello fellow burst enthusiast! I plotted a few TB around a year ago and I let it run on an old rig just for fun. I bought some assets and it's fun to get a few BURST every now and then on it. Was pretty sure it was a dead coin but I had already plotted and the community has stuck through it so I did too. It's been interesting watching my pet crypto currency increase in value the last few months. To the moon! Or to a $1! I don’t get it, aren’t you actually wasting the storage? Because it’s locked up in the blockchain plots or whatever. It seems an interesting alternative to wasting a shitload of electricity I guess
|
|
#
?
Jan 3, 2018 03:11
|
|
|
Comfy Fleece Sweater posted:I don’t get it, aren’t you actually wasting the storage? Because it’s locked up in the blockchain plots or whatever. It seems an interesting alternative to wasting a shitload of electricity I guess Isn't unused storage just as wasted as storage filled with blockchain plots? Unless he bought disks specifically for this, that space was wasted anyway, so you might as well get some money off it.
|
|
#
?
Jan 3, 2018 03:20
|
|
|
Comfy Fleece Sweater posted:I don’t get it, aren’t you actually wasting the storage? Because it’s locked up in the blockchain plots or whatever. It seems an interesting alternative to wasting a shitload of electricity I guess Yea, technically. These are old drives that are well past their prime. I wouldn't trust data on them at this point and I have much newer larger drives for things I care about.
|
|
#
?
Jan 3, 2018 03:46
|
|
|
Numinous posted:Yea, technically. These are old drives that are well past their prime. I wouldn't trust data on them at this point and I have much newer larger drives for things I care about. So the "plots" aren't actually filled with any data in them? Just "From sector X to Y is reserved for coinzzz" What happens when a drive finally dies? Do you lose your coins or something
|
|
#
?
Jan 3, 2018 04:09
|
|
|
1gnoirents posted:Etheruem going to the moon Why do all the cartoon women look sad or angry? Not a single smile. Even in their wildest fantasies women aren't happy to see them.
|
|
#
?
Jan 3, 2018 07:35
|
|
|
Facebook Aunt posted:Why do all the cartoon women look sad or angry? Not a single smile. Even in their wildest fantasies women aren't happy to see them. Smiles cost extra.
|
|
#
?
Jan 3, 2018 07:38
|
|
|
Comfy Fleece Sweater posted:So the "plots" aren't actually filled with any data in them? Just "From sector X to Y is reserved for coinzzz" The plot file is a series of pre-calculated nonces. It takes a regular amount of CPU/GPU mining power to generate them initially and then they are written to the drive. The nonces are seeded from your wallet ID so you can recreate them if a drive dies but it does take up space on the drive while you are using it to mine. The pre-calculated nonces are then used every round of mining to determine the solution. More hard drive space = more nonces = more likely to have a low-time solution so you win more rounds. Coins are stored in the blockchain so as long as you have your wallet password you can't lose them.
|
|
#
?
Jan 3, 2018 13:16
|
|
|
No fee transfer from Nicehash wallet to Coinbase worked! And it appears to be a daily thing if you make 0.001.
|
|
#
?
Jan 3, 2018 16:17
|
|
|
1gnoirents posted:No fee transfer from Nicehash wallet to Coinbase worked! And it appears to be a daily thing if you make 0.001. holy poo poo, NiceHash actually coughed up? And the money is actually yours (if on Coinbase)?
|
|
#
?
Jan 3, 2018 17:58
|
|
|
Winminer paid out to PayPal  In about nine days with a GTX 1080 (running the miner a bit off and on, not 24/7) I got $18.43 filthy US dollars in actual revenue on an account I control. In the meantime the computer used a bit under 40 kWh (all usage, not just mining - includes some pretty heavy number crunching on the CPU as well), costing me about $5 in electricity. If I'm being generous with how much of that electricity was other stuff, I've made slightly under $2 per day. I don't think I'll bother touching the poop any more than this.
|
|
#
?
Jan 3, 2018 18:16
|
|
|
TheFluff posted:Winminer paid out to PayPal Don’t forget your component usage
|
|
#
?
Jan 3, 2018 18:53
|
|
|
If I was mining with NiceHash and never registered an account (just had the app mining to a Coinbase wallet), is there a way to "claim" that wallet so I can have it go to the internal NiceHash wallet instead, and get the payout?
|
|
#
?
Jan 3, 2018 19:04
|
|
|
divabot posted:holy poo poo, NiceHash actually coughed up? And the money is actually yours (if on Coinbase)? Yes it took 10 minutes (presumably since its not going through the blockchain). From there I transferred it to GDAX for free where there are much lower fees Zero VGS posted:If I was mining with NiceHash and never registered an account (just had the app mining to a Coinbase wallet), is there a way to "claim" that wallet so I can have it go to the internal NiceHash wallet instead, and get the payout? I never found a way. I just mined until the 0.01 cutoff to the external address then switched to the Nicehash wallet address. My external address still needs to be paid, but Nicehash says they are doing that now as well. 1gnoirents fucked around with this message at 20:21 on Jan 3, 2018 |
|
#
?
Jan 3, 2018 20:18
|
|
|
I had 0.005 mined with Nicehash before the hack, pointing to a coinbase wallet. Does anyone know if I'll have to mine the other .005 before getting paid out? I haven't mined since they went down and trying to decide what to do next. If I have to finish that 0.005 I will, but otherwise debating swapping to MiningPoolHub.
|
|
#
?
Jan 3, 2018 20:49
|
|
|
could someone point me to the cryptocurrency general chat thread? or is this pretty much it? I've questions regarding cryptocurrency and I'm not sure where to ask it.
|
|
#
?
Jan 3, 2018 23:09
|
|
|
Q8ee posted:could someone point me to the cryptocurrency general chat thread? or is this pretty much it? I've questions regarding cryptocurrency and I'm not sure where to ask it. There's a few different ones - the ones I can think of off the top of my head other than this one are one in GBS (lol), one in YOSPOS (lots of people who can tell you in great detail about all he ways it is retarded) and one in BFC (people who actually speculate in cryptocurrencies and can tell you how to report taxes on it etc, also seems to have a few apologists in it).
|
|
#
?
Jan 3, 2018 23:14
|
|
|
There’s a GBS crypto thread where you’ll probably be made fun of for getting into this https://forums.somethingawful.com/showthread.php?threadid=3838405 Otherwise you could probably post here, or in YOSPOS
|
|
#
?
Jan 3, 2018 23:16
|
|
|
Amounts mined in Nicehash are permanently linked to whatever wallet they were mined against. There's no way to switch values from one to another. That's the only value that Nicehash has to identify a miner. If they allowed you to switch wallets or consolidate between wallets then that would open up a gigantic hole in their app and create a huge nightmare for them when people started asking to merge other wallets into theirs that they have no way of proving they own. Then you would have to worry about everyone else also trying to steal your butts instead of just Nicehash.
|
|
#
?
Jan 3, 2018 23:16
|
|
|
Q8ee posted:could someone point me to the cryptocurrency general chat thread? or is this pretty much it? I've questions regarding cryptocurrency and I'm not sure where to ask it.
|
|
#
?
Jan 3, 2018 23:17
|
|
|
The YOSPOS thread is a wordier version of the GBS thread.
|
|
#
?
Jan 3, 2018 23:19
|
|
|
you all seem decent, if you don't mind me asking a question here, I'll just go for it: I'd like to buy some altcoins I've got my eye on. the only problem is, I don't know whether it's more efficient to purchase ETH or BTC or any other crypto. another issue I have is I don't even know where to buy these cryptocurrencies other than Coinbase, which I refuse to use again as they robbed me of £350. any advice would be appreciated.
|
|
#
?
Jan 3, 2018 23:25
|
|
|
Q8ee posted:I'd like to buy some altcoins I've got my eye on. Why do you want to buy them? Why not open a Robinhood account where you can buy a couple shares of SPY or QQQ over your phone for no commission? Pretty much the only legit answer is you need to buy illegal drugs online, which is fine, but if you think you're gonna make money or something my advice would be investment, not speculation.
|
|
#
?
Jan 3, 2018 23:34
|
|
|
Zero VGS posted:Why do you want to buy them? Why not open a Robinhood account where you can buy a couple shares of SPY or QQQ over your phone for no commission? I've no idea what Robinhood is. I also don't buy illegal drugs online. I've used speculation in the past and it has done me well, as there's usually a lot of hype surrounding these altcoins and I sell when it's high and take it as a win (even if it continues to go higher). Bought a fairly decent amount of NEO and sold when it hit $80, when I'd bought in at $8 (when it was known as ANS). Speculation has done me alright and I never put in what I can't afford to lose. But I appreciate the advice, investment is a better alternative to speculation.
|
|
#
?
Jan 3, 2018 23:38
|
|
|
Q8ee posted:you all seem decent, if you don't mind me asking a question here, I'll just go for it: If Coinbase is out of the picture, then so is GDAX (they are the same company). Typically I'd recommend GDAX, its a true market based exchange where you can make buys and sells with very little fees especially if you make market orders. However that is Coinbase related and if you aren't in the USA it can be difficult to even have a functioning account there as they require a bunch of manual verification. I no longer buy or sell with Coinbase at all because their spot prices are total bs, the appeal with that website is its ease of usability but you pay a lot off the top for the convenience Binance is another widely touted platform to buy and sell coins and they have a vast selection of buttcoin varieties to trade in. I have yet to actually use it though, but I consider it my fallback. You can take advantage of all those alt coins some of which are really moving. As far as efficiency, Ethereum is making a sudden upturn in the last two days. I literally think its because of cryptopussies (lol). Bitcoin and LTC have been pretty flat, but I'm talking in the scale of a few weeks - though thats a lot for buttcoins. Frankly its impossible to recommend anything without actual inside knowledge of some sort other than buying what seems to be going up at any given time. For example I bought Etheruem once its broke out of its slump, then sold when it was 10% up, because I dont trust it. I've been doing that from time to time with BTC, LTC, and ETH without any preference to any of them other than what I see them doing on any specific day. There have been fewer wild swings for those three coins so its a bit "safer" to do so than it has been, but the potential gains are equally less as well. 1gnoirents fucked around with this message at 23:51 on Jan 3, 2018 |
|
#
?
Jan 3, 2018 23:49
|
|
|
|
| # ? May 21, 2024 18:34 |
|
|
If you want to talk about gambling on crypto, the BFC thread is probably the best place for that.
|
|
#
?
Jan 3, 2018 23:59
|
|