That's how it works. If you fail to declare this annually, you're evading tax and they can very well charge you for it penalties depending on each nation. For mine it's up to 10 years in prison.
Just for new miners out there, Tax payment is A MUST REGARDLESS OF AGE. You maybe a kid of 10/12 years old, but you are mining for profit, you are still obliged to pay tax. If you don't your parents will be held responsible for it.
Correct me if I'm wrong.
You straight up wrong.
While technically correct, that is NOT in any way how it would go down in real life. The chances of it being found in the case of a child mining is pretty much none - and were it, it would have an EXTREMELY low chance of being prosecuted. I wouldn't wanna be the poor bastard put in charge of winning that prosecution. The kid would - AT THE VERY MOST, get a deal that involves him paying some vanishingly small amount of money and promising to learn how he should do things to be on the right side of the law next time.
@rdnkjdi do u undervolt your 390s ? If you do the produce 30mhs at the same power at 280x cards same with 290s
I suspect with a modded rom a [email protected] could produce 25to 28mhs for 190 watts
It's weird - when I tested my brothers 290's they were doing 28 to 29 mhs using 200w. I wonder if the guy who had them before flashed them with a different ROM.
I'm actually in the process of doing that. Or rather that's the next thing on my list after I finish setting up my last rig and finish moving everything over to Windows / dual miner (tomorrow). I am undervolting the GPU now that I'm using Windows with Afterburner but I haven't gotten around to testing it with the killowatt yet. Such a pain - linux is easier to manage but there's no way to undervolt from aticonfig.
One of the problems I'm having is undervolting the ram. In the 290's there was a modded Trixx that could do it but it's looking like I'm going to have to mod the bios. There's also a ROM floating around out there that shuts down a parts of the 280x/290's that significantly reduces the watt usage but I have found no one referencing using it on the 390's. I may test more when I have time.
Well well I guess I'm right on track with the price drop predictions Ethereum is going below 8 dollars soon. Who was it again who said they don't think that's possible while difficulty continues to rise?
Again those who have money to invest I suggest either buy Ethereum outright or buy BTC now while the price continues to go up.
Ethereum is now below the 8 dollar mark. Lets see where this goes and if my observation analysis proves those in denial wrong and that I'm right to say that It is better off buying ETH than getting any mining gears.
That said, there're no other profitable altcoin to mine using GPU besides Ethereum at the moment and it would be better to just buy Ethereum, so basically if you're buying new mining gears, you're wasting your money at this point.
Already moved on. FTC (!!) is far more profitable than ETH, like 50% more. I can mine $12 worth in the same time I can mine $8 in ETH. Seems that Cryptsy going away has helped a lot of coin valuations rise, including FTC.
Already moved on. FTC (!!) is far more profitable than ETH, like 50% more. I can mine $12 worth in the same time I can mine $8 in ETH. Seems that Cryptsy going away has helped a lot of coin valuations rise, including FTC.
Are you actually able to sell it? I think the market cap is pretty low on that if I recall.
Already moved on. FTC (!!) is far more profitable than ETH, like 50% more. I can mine $12 worth in the same time I can mine $8 in ETH. Seems that Cryptsy going away has helped a lot of coin valuations rise, including FTC.
@rether Market cap is rising of late. Bittrex is probably best place to exchange for BTC or other, volume is up almost good enough though spreads can be a bit wide.
Shapeshift.io used to have a conversion for FTC which worked well before, but they've severely cut down the number of coins available. They have shitcoins I just don't understand like Bitcrystals, GEMZ and StorjX instead... might have to contact them and ask WTF.
@rether Market cap is rising of late. Bittrex is probably best place to exchange for BTC or other, volume is up almost good enough though spreads can be a bit wide.
Shapeshift.io used to have a conversion for FTC which worked well before, but they've severely cut down the number of coins available. They have shitcoins I just don't understand like Bitcrystals, GEMZ and StorjX instead... might have to contact them and ask WTF.
Thanks for the info. Are you mining on a pool or solo? I remember looking around for a pool before for FTC but I think I only found MPH maybe?
Pool; coinotron. There are others like give-me-coins, and coinking (but I don't think there's any pool hash going on there at all). Some have stopped their pools, suprnova just did this month — perfectly bad timing for them, given the rise in price. feathercoin.miningpoolhub.com looks like they fixed their issues last month, so good to go.
I'm using ccminer-djm34-neoscrypt for nvidia cards. nsgminer for AMD's, which is very crashy and gets it's ass kicked by the cuda optimizations in djm34. Getting 650MH/s from each GTX970 (90-100 coins/day), but only 280MH/s from each R7-370 for the same power (30-40/day).
Pool; coinotron. I'm using ccminer-djm34-neoscrypt for nvidia cards. nsgminer for AMD's, which is very crashy and gets it's ass kicked by the cuda optimizations in djm34. Getting 650MH/s from each GTX970 (90-100 coins/day), but only 280MH/s from each R7-370 for the same power (30-40/day).
We'll that's good to know. A surge in price is more like an indication of buyers interest. If you could timed well your sell orders you could make profits.
Pool; coinotron. There are others like give-me-coins, and coinking (but I don't think there's any pool hash going on there at all). Some have stopped their pools, suprnova just did this month — perfectly bad timing for them, given the rise in price. feathercoin.miningpoolhub.com looks like they fixed their issues last month, so good to go.
I'm using ccminer-djm34-neoscrypt for nvidia cards. nsgminer for AMD's, which is very crashy and gets it's ass kicked by the cuda optimizations in djm34. Getting 650MH/s from each GTX970 (90-100 coins/day), but only 280MH/s from each R7-370 for the same power (30-40/day).
I just gave this miner a try on coinotron but getting "stratum_recv_line_failed" every time after about 45 seconds of connection.
My command line is just: ccminer-65.exe -q -a neoscrypt -o stratum+tcp://coinotron.com:3337 -O username.workername:x
The mining hashrate is still on the rise while my prediction stays true.
Ethereum dropping under 7 USD as we speak and number of Ethereum mined per day decreases. The newer Rig makers are now in for some doom panick lol. No more ROI as they will need 30 Month's time to recover cost.
I don't know about you @adaseb but i see him more as a clown than fortune teller.
What you see me as is of little to no consequence. *shrugs you off my shoulders* You're insignificant and will remain so, as is everyone else going for scraps in crypto trade.
@adaseb and so what if I did or did not? You wouldn't know lol. All I see are bitter responses because what I've mentioned is so obvious yet true but still so many were in denial that they wouldn't admit to it nor take notice of healthy and factual discussions.
All I can say now is we told you so! You reap what you sow.
@adaseb Still making plenty more with FTC @ .00011btc than ETH, fwiw. FTC used to be .000015btc two weeks ago. Just can't make anything on AMD opencl; nvidia is the only way.
Hoping volume comes up over time on the exchanges, but then again this was the same story with ETH last year. Everything is speculative, all the time.
Let's see if ETH picks up back towards 10USD tomorrow because BTC-e has added ETH to the exchange and also Slock.it The DAO sales.
If it doesn't then it is still a clear signal for interested miners to stick to buying ETH outright as compared to buying new GPUs.
Then again if it doesn't go up towards 10USD wait another month and you will see ETH in the 5usd-6usd range which is the perfect buying opportunity and knowing the remaining months left to mine, it's impossible for you to mine the same number of ETH as compared to what you could have bought at the price of 5-6USD with current assumed difficulty rise.
As long as we're predicting the future, I predict btc-e will have zero effect on ETH price. It's just another conduit for... selling ETH, so probably a negative effect. Trade history is already red with sells.
Slock.it will take time, it's effect on price will take more time. Anyone mining now is looking to cash in, pure and simple.
Let's see if ETH picks up back towards 10USD tomorrow because BTC-e has added ETH to the exchange and also Slock.it The DAO sales.
If it doesn't then it is still a clear signal for interested miners to stick to buying ETH outright as compared to buying new GPUs.
Then again if it doesn't go up towards 10USD wait another month and you will see ETH in the 5usd-6usd range which is the perfect buying opportunity and knowing the remaining months left to mine, it's impossible for you to mine the same number of ETH as compared to what you could have bought at the price of 5-6USD with current assumed difficulty rise.
Stop trying to predict things you can't predict. You are just making yourself look like a fool everytime you post something with that many if's and a bunch of made-up numbers. btc-e adding ethereum is next to irrelevant. btc-e simply isn't as large as it once was, and its eth market is not going to surpass poloniex's by volume. As for slock.it... who cares? Useful distributed applications don't validate ethereum's utility, they only validate the utility of distributed applications (which can be pegged against any blockchain).
Psh... I would still be making a profit at 40T diff and $5 eth value. Suggesting buying as an alternative to mining is utterly retarded, honestly. Buying is investing in ethereum (personally I think that's a terrible idea), mining is entirely different, and most miners sell off their mined coins for something else.
Comments
I suspect with a modded rom a [email protected] could produce 25to 28mhs for 190 watts
While technically correct, that is NOT in any way how it would go down in real life. The chances of it being found in the case of a child mining is pretty much none - and were it, it would have an EXTREMELY low chance of being prosecuted. I wouldn't wanna be the poor bastard put in charge of winning that prosecution. The kid would - AT THE VERY MOST, get a deal that involves him paying some vanishingly small amount of money and promising to learn how he should do things to be on the right side of the law next time.
I'm actually in the process of doing that. Or rather that's the next thing on my list after I finish setting up my last rig and finish moving everything over to Windows / dual miner (tomorrow). I am undervolting the GPU now that I'm using Windows with Afterburner but I haven't gotten around to testing it with the killowatt yet. Such a pain - linux is easier to manage but there's no way to undervolt from aticonfig.
One of the problems I'm having is undervolting the ram. In the 290's there was a modded Trixx that could do it but it's looking like I'm going to have to mod the bios. There's also a ROM floating around out there that shuts down a parts of the 280x/290's that significantly reduces the watt usage but I have found no one referencing using it on the 390's. I may test more when I have time.
Again those who have money to invest I suggest either buy Ethereum outright or buy BTC now while the price continues to go up.
That said, there're no other profitable altcoin to mine using GPU besides Ethereum at the moment and it would be better to just buy Ethereum, so basically if you're buying new mining gears, you're wasting your money at this point.
Shapeshift.io used to have a conversion for FTC which worked well before, but they've severely cut down the number of coins available. They have shitcoins I just don't understand like Bitcrystals, GEMZ and StorjX instead... might have to contact them and ask WTF.
I'm using ccminer-djm34-neoscrypt for nvidia cards. nsgminer for AMD's, which is very crashy and gets it's ass kicked by the cuda optimizations in djm34. Getting 650MH/s from each GTX970 (90-100 coins/day), but only 280MH/s from each R7-370 for the same power (30-40/day).
Any one tried 280x on FTC? how many coins/day does it produce? Eth price drops and difficulty rises.
This could free up some hashrate on eth.
My command line is just: ccminer-65.exe -q -a neoscrypt -o stratum+tcp://coinotron.com:3337 -O username.workername:x
Conclusion: I find Bittrex terribly boring and this coin takes years to move. Still very small market with 60 btc orders at most.
Ethereum dropping under 7 USD as we speak and number of Ethereum mined per day decreases. The newer Rig makers are now in for some doom panick lol. No more ROI as they will need 30 Month's time to recover cost.
If you could of "predicted this" then why didn't you go all short ???
Anyone can predict the stock market in hindsight.
@adaseb and so what if I did or did not? You wouldn't know lol. All I see are bitter responses because what I've mentioned is so obvious yet true but still so many were in denial that they wouldn't admit to it nor take notice of healthy and factual discussions.
All I can say now is we told you so! You reap what you sow.
Hoping volume comes up over time on the exchanges, but then again this was the same story with ETH last year. Everything is speculative, all the time.
If it doesn't then it is still a clear signal for interested miners to stick to buying ETH outright as compared to buying new GPUs.
Then again if it doesn't go up towards 10USD wait another month and you will see ETH in the 5usd-6usd range which is the perfect buying opportunity and knowing the remaining months left to mine, it's impossible for you to mine the same number of ETH as compared to what you could have bought at the price of 5-6USD with current assumed difficulty rise.
As long as we're predicting the future, I predict btc-e will have zero effect on ETH price. It's just another conduit for... selling ETH, so probably a negative effect. Trade history is already red with sells.
Slock.it will take time, it's effect on price will take more time. Anyone mining now is looking to cash in, pure and simple.
All that said without one "if"...
Psh... I would still be making a profit at 40T diff and $5 eth value. Suggesting buying as an alternative to mining is utterly retarded, honestly. Buying is investing in ethereum (personally I think that's a terrible idea), mining is entirely different, and most miners sell off their mined coins for something else.