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Don Lapre posted:I have a customer who wants me to build him a 6 gpu 1060 rig. should i tell him hes dumb or take his money Take his money, what do 6GB 1060s cost nowadays? $300?
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Jun 21, 2017 18:45
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Somebody just sold 100k ETH (coins, not dollars worth) at market price and there was a flash crash where some people have made or lost paper millions in an instant. This is so dumb. Some buy orders under $50/coin got filled, and now it seems to be worth $300/coin again. Edit: If anybody wants to check it out themselves, looks like the trading range of ETH for the last 24 hours is from $0.10 - $355.98: https://api.gdax.com/products/ETH-USD/stats
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Jun 21, 2017 21:06
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eames posted:This will be fun to watch considering miners are already jumping ship to pascal. Four hundred and fifty GBP for an RX 480.
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Jun 23, 2017 19:04
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QuarkJets posted:I use GPUs for serious (physics) computation work with CUDA for a living and I run into academics all the time who think they can get by just slapping 4x 1080s (or 980s or whatever) into a server and running them at full-tilt. In my experience they lose about 50% of those cards after a year. Consumer-grade video cards are actually not designed to be used 24/7; their failure rates go way up when you do that, and those failure rates increase further when you pack several them into a poorly-ventilated space (such as a homebrew "computation" box or a mining rig). There are computational-grade graphics cards that are actually designed to survive in a high-load setting, but they cost a lot more So to be clear, something like using 8 1080 Tis as compute cards is an idiot trap, and Teslas are the only real answer?
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Jun 25, 2017 06:40
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Don Lapre posted:https://www.youtube.com/watch?v=9deSVpjm1Kk What will these things be useful for in 2 months? Discount entry-level deep learning GPUs? PhysX GPUs? What's a no-output no-warranty 1060 6GB worth? $60?
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Jun 27, 2017 17:26
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PerrineClostermann posted:What would prevent someone from simply having beef with everyone? The Fiddycoin!
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Jul 6, 2017 17:26
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Risky Bisquick posted:Anyone going to mine and hold? Ether hitting 200 soon. Will probably switch from nicehash to mining directly 
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Jul 10, 2017 16:00
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Stealthgerbil posted:I think the 7 layer burrito from taco bell is like $2.50. My 1070 is making like 1 1/2 a burrito a day now. Maybe more if I buy the shredded chicken burritos. 2 weeks ago, it was a chipotle burrito per day.
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Jul 12, 2017 15:47
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QuarkJets posted:Self-employment tax is for people who are self-employed, not people who happen to make some money selling their assets. You still have to report the income regardless but that's not a big deal so long as you keep accurate records So, the IRS guidance has been pretty clear that crypto mining income counts as ordinary income which you will owe self-employment tax on whenever it's mined, and then any difference in price between when you mine it and when you sell it is taxed as capital gains or loss. You will owe the 15.3% off the top for all self-employment income, followed by regular income taxes at whatever your marginal bracket happens to be.
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Jul 21, 2017 16:24
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QuarkJets posted:It doesn't say that: It very clearly says that quote:Q-8: Does a taxpayer who “mines” virtual currency (for example, uses computer resources to validate Bitcoin transactions and maintain the public Bitcoin transaction ledger) realize gross income upon receipt of the virtual currency resulting from those activities? Fair market value of virtual currency on the date of receipt is includable in gross income. This 100% means that you're paying income taxes on it, not capital gains tax. Which as you don't have an employer who is paying the other half of the payroll tax, leaves you on the hook for self-employment tax. Edit: Question 9 is even more relevant: quote:Q-9: Is an individual who “mines” virtual currency as a trade or business subject to self-employment tax on the income derived from those activities?
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Jul 21, 2017 21:02
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QuarkJets posted:Self-employment taxes aren't for all types of income earned outside of an employer. They're for all types of income earned while self-employed. For instance, if you sell a car that's a form of immediate gross income but that does not mean that you are a self-employed car dealer. You're right that coin trading gains or losses are capital gains. However, coin mining is ordinary income. If you build a car and then sell it, that's income that you would owe self-employment tax on, not capital gains. If you sell a car that you previously bought for a profit, that's capital gains. The IRS is being very explicit that mining counts as income and you owe self-employment tax. https://ttlc.intuit.com/questions/3268778-where-to-report-bitcoin-mining-income-not-capital-gain-loss-from-trading Edit: If I'm a very gifted painter and I make a painting then sell it for $50k, did I have a capital gain of $50k, or income of $50k? Do I have to pay self-employment taxes? The IRS says that's income, and yes you owe self-employment taxes. Twerk from Home fucked around with this message at 21:21 on Jul 21, 2017 |
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Jul 21, 2017 21:16
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QuarkJets posted:If you regularly produce and sell paintings for a living then yes, that is a business. But if you paint in your free time and happen to sell 1 painting for $500, are you self-employed then? I don't think so, the IRS doesn't seem to say that you are, and that's more akin to what we're talking about now than a professional painter. If you sell a single painting that you made for $500, you sure as hell owe self-employment tax. The cutoff is $400 for reporting income like that, and if you made the painting, then that's earned income, which is subject to the self employment tax. You can owe self employment tax on hobby income. http://finance.zacks.com/income-subject-selfemployment-tax-9330.html The reason why gambling winnings don't have self employment tax is because the IRS considers gambling winnings unearned income. Coin mining is considered earned income. Twerk from Home fucked around with this message at 21:45 on Jul 21, 2017 |
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Jul 21, 2017 21:42
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1gnoirents posted:There is a serious boon to CPU mining from what I've seen, so much so I'm starting to be concerned about CPU's. A two core Haswell 4570T that I'm using in a mining machine was pulling in 24 cents a day yesterday, that CPU has a TDP of 35 watts. Remember us when you're a wealthy man of leisure.
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Sep 1, 2017 17:07
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This whole thread reminds me of when I go to ALDI and somebody left a quarter in a cart, so I come home with an extra quarter. Boom, 25c per day.
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Sep 1, 2017 17:12
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redeyes posted:Say I wanted 30Mh/s Etherium, what would the most efficient/cost effective video cards to get? Buy an R9-290, the finest 4-year old GPU in the land.
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Sep 14, 2017 17:56
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I'm still at a burrito a day, thanks to Taco Bell and the $1 beefy fritos burrito.
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Sep 14, 2017 19:36
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Q8ee posted:Don't use Coinbase, they're loving assholes. They make it notoriously difficult to withdraw your BTC, and don't make issues clear until after you've paid them all their transaction fees and exchange rates, only once that's been done do they hit you with a "Oh, by the way, you can't withdraw to UK bank accounts". Opened up a support ticket with them, they didn't reply to me for almost two months, so I got my bank involved and chargebacked. Do use Coinbase if you're based in the US, they're by far the most reputable of the exchanges and many of their hurdles are to ensure that they comply with US banking and tax law. If you're outside the US I guess use Bitfinex, but don't be surprised when it all goes mtgox and your money disappears.
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Nov 28, 2017 20:25
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Nyaa posted:Out of curiosity, how does an online currency’s bubble burst? Online retailers are accepting it and I don’t know what could ruin its value beside someone manage to break the encryption? I think it'll be one of the three below, but there's a million other ways it could fail too: 1) Major world governments effectively criminalize usage of bitcoin, making it almost impossible to ever convert from bitcoin to local currency through the control that governments are able to exert over banks in their countries and their citizens. 2) Either an intentional DDOS or just unintentional unchecked growth of bitcoin popularity makes the transaction volume so high that transactions get clogged up for days and become incredibly expensive, exposing how bitcoin can't scale. They might be able to continue to hard-fork their way out of this one. 3) Due to the complete lack of regulation that Bitcoin fans defend as a core feature of Bitcoin, somebody with deep pockets or one of the major exchanges starts engaging in wholesale market manipulation. There's a reason that the SEC and all major stock exchanges have rules and regulations. I saw this one happen in Ethereum, a major player ran the order books at an exchange all the way down to 0. He crashed the price right down to $0.10. 4) MtGox happens again. A major exchange, let's say Bitfinex, or GDAX, either is entirely bankrupt and gets asked for more USD than they are able to pay out, or alternatively the owners of the exchange see that they can walk away with a billion each and probably hide, and just decide to steal everyone's money and run.
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Nov 29, 2017 00:07
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How do people not run arbitrage all the time? The major bitcoin exchanges differ in price by more than 5%, are transaction costs really greater than 5%?
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Nov 29, 2017 21:15
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Risky Bisquick posted:So I got my 5 pack of RX580s in a gigantic MSI box. I modded them all and benchmarked them, 4 Elpida / 1 Samsung, so I’ll be looking at adding around 147 mh in dagger or just over 4100 h/s crypto night. Just waiting on the 008s risers coming tomorrow for this RISKY BUSINESS in the wooden tinderbox. I've never heard of dagger, but I know about daggering. Are they related?
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Dec 5, 2017 08:23
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tehinternet posted:What would you say is a reasonable fee to build an 8 card GTX1070 mining rig for someone? I’d build and install the requisite software for whatever coin he wants. I see that people are selling them for $5800 which seems excessive, but I’m not sure. I don’t have a point of reference. Is the guy willing to pay you $5800? Charge him $5800.
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Dec 19, 2017 19:04
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Comfy Fleece Sweater posted:If you’re really into crypto currency for the money you can get, and you had 20k around, why not just buy the fake moneys and trade ? you’ll make more in less time. You seem to be taking it seriously In theory, mining is profitable regardless of the underlying crypto prices going up or down, as long as they don't crash AND keep high difficulty. The thing that you're missing about mining is that for whatever reason, idiots are willing to pay 80% of new price for used recent GPUs right now. If your mining doesn't work out, just sell your stuff to gamers. And yeah, the payback period is still a couple months so if you make it that far while selling your crypto as you go, you are now purely in the black. It's a bet that the crypto market won't explode in the next 3 or 4 months, basically.
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Dec 20, 2017 17:21
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Risky Bisquick posted:You are hedging your risk with mining vs buying directly. Coins can go to zero, hardware still holds value, but I would peg it closer to 50% not 80% when the fire sale happens. Yeah, 80% is what my friends are managing to sell cards that don't mine well or have fan issues for right now while the music is still going. P.S. don't buy any used GPUs in the next couple years. At all.
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Dec 20, 2017 17:56
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Zero VGS posted:Or, you know, buy cards from EVGA to they have a really good 3-year transferable warranty. Does that transferable warranty apply if the last guy flashed a bad BIOS onto it and then ran it in a humid sealed box for 8 months?
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Dec 20, 2017 18:23
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Kazinsal posted:Weekly reminder that putting money into this dumb hobby makes you a valid target for ridicule when things start sliding into oblivion. Flip side of this: If you're buying GPUs in the current overpriced environment and NOT using them to mine, you're paying more than you needed to for the GPUs.
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Jan 4, 2018 21:25
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Fauxtool posted:i feel like the low-mid cards have it worse because there are so so many more of them and they are less likely to be an actual upgrade for the people buying second hand. The 1070 and 1080ti were made in lower amounts and will be a huge upgrade for most people Yeah, I moved from a 290 to a 1060 and it was an absolute sidegrade. Each of them mined more than enough to pay for themselves though, so free GPUs.
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Jan 4, 2018 23:43
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Stoltec posted:Just snagged an Antminer A3. Gonna mine some Siacoin. You'd be better off buying $2500 worth of GPUs, at least there will be buyers for those in a couple months.
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Jan 19, 2018 00:12
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NihilismNow posted:There are still some 1080's for sale here and they are cheaper than 1070's. Why would you want a 1070 if you had to buy it at current prices? Because 1070s are more effective than 1080s at mining most altcoins, so a 1070 is worth a price premium over a 1080 to miners.
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Jan 19, 2018 22:14
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Paul MaudDib posted:Once upon a time, in the long-ago beforetime of May last year, you could get a 480 8 GB for $175 pretty easily. Historical low was either $150 or $130, I forget which. 4 GB cards usually ran $25 cheaper, or so. The 480 was dirt cheap. Worth noting that in that same time period, I bought a 6GB short, least desirable model GTX 1060 for $170 with one of the Jet.com promos.
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Jan 19, 2018 22:25
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Holyshoot posted:link source? https://www.reddit.com/r/legaladvice/comments/7rg45m/texas_invested_my_company_money_in_ponzi_and_lost/ https://twitter.com/TexasRelaysShow/status/954887508655034368
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Jan 25, 2018 22:24
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Given that this is the full-on poop touching thread, I'm just going to ask: Are any of the weird altcoins like Verium worth CPU mining right now at 7c/kWh?
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Feb 1, 2018 17:52
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Craptacular! posted:I guess I don't know what ssh is anymore because to me I imagine a terminal window and a command line prompt, which sort of defeats the purpose of a remote desktop. SSH can also forward any port locally to any port remotely after you've set up the SSH tunnel.
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Feb 8, 2018 22:16
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