Bitcoins/Litecoins/Virtual Currencies

Alkorin · May 22, 2013

The difference is important... there are different rules for income and capital gains. Anyway, I'll probably have my answer by next tax season. It's a long way away.

Eomer · May 22, 2013

Big Phoenix_sl said:
You do realize that all those people who win cars/boats/whatever on game shows pay taxes on those assets, right? I mean if you where to dig a million dollar gold nugget out of the ground you think you wouldnt pay taxes on it?

Actually in Soviet Canuckistan we don't have to pay taxes on lottery winnings or other prizes. Not sure of the exact details, like if the entity running the contest has to pay the taxes on behalf of the winner or if they're just totally tax free.

Alkorin_sl said:
The difference is important... there are different rules for income and capital gains. Anyway, I'll probably have my answer by next tax season. It's a long way away.

Yeah, it's going to be a complicated mess, on that I agree. But:

Burnesto_sl said:
You also have to remember that when you're dealing with a tax agency it's a matter of, "Heads they win, Tails you lose."

You're really over thinking this. I'm sure it's reportable under other income or capital gains. Or whatever your other income is up there.

That's the problem. If the CRA or IRS or whatever decides that it's straight income, they don't really have to prove anything or answer any questions. It's up to you to prove to them otherwise.

Alkorin · May 22, 2013

Yeah, I get that. I want to do the right thing here. The problem is that there is no right thing yet, because no firm decisions have been made. Hopefully that's forthcoming.

Alkorin · May 25, 2013

Difficulty is up again today. 12,153,412 now, up from 11,187,257.

Arative · Jun 5, 2013

Difficulty jumped 28% to 15605632.6813. Probably be another jump to around 20 million by the 14th of June. I would expect that those with GPU's will stop mining or switch to another digitial coin, like litecoin. BFL has started shipping but as slow as they seem to be, I don't expect my order to go out until well after the 6/14.

Alkorin · Jun 8, 2013

Not quite ready to switch to Litecoin yet, but that's the talk of the forums, yeah.

Apparently BFL has only shipped 35 units at this point, which is kinda closer to 0 than it should be.

Arative · Jun 10, 2013

Alkorin_sl said:
Not quite ready to switch to Litecoin yet, but that's the talk of the forums, yeah.

Apparently BFL has only shipped 35 units at this point, which is kinda closer to 0 than it should be.

BFL has said they have shipped all of the 5 g/hs orders through July. Not sure how many devices that is. From pictures it is way more than 35 though. They have gotten the boards in for the 25 and 50 g/hs machines and are suppose to start shipping those this week.

Alkorin · Jun 11, 2013

Cool. I hope I'll see my 25GH/s box before it becomes a paperweight. The 5s are headed firmly in that direction already...

Arative · Jun 11, 2013

Alkorin_sl said:
Cool. I hope I'll see my 25GH/s box before it becomes a paperweight. The 5s are headed firmly in that direction already...

Yeah at least I have 3 coming that will help recoup the cost. Still hoping to get enough to get a few 50 GH/s machines

Alkorin · Jun 13, 2013

I added 5 GH/s to my 25. My order page says I owe -250$ now that I paid for it. Ugh. I emailed them and we'll see what they say... worst case, I'll get a refund or a second Jalapeno out of it.

They've starting shipping Singles, at least. And they're almost through August shipments of 5s.

Arative · Jun 13, 2013

My order should ship today or tomorrow. I have an 8/30 order. I did upgrade my 5's to 7's for $100 each.

Alkorin · Jun 16, 2013

Well, you can tell that BFL is shipping a good number of units, anyway. Difficulty is up to 19,339,258 as of earlier today.

Also, my mining rig blew up. No idea how much of it is still working, but it isn't likely much, so... yeah. Was fun while it lasted.

Arative · Jun 17, 2013

How did it blow up? Video card go or power supply?

Still haven't shipped my 5 GH/s units, but I know they are in production because the order disappears from your account when they send it to production. So hopefully I have them by Wednesday or Thursday

Alkorin · Jun 17, 2013

At least 1, possibly 2 video cards. They were sitting too close together in the chassis so I had to separate them, but looks like something came loose and they shorted together. I'm pissed off, but there's nothing I can do, and there's little hope that warranty will cover it. If this is the case, there's no telling what else might have been affected, but hopefully the damage is limited to one or both GPUs. In the future, I'm going to buy video cards that have a full sleeve over the card instead of going cheap(er).

BFL has shipped through 8/26 now, so yeah, yours should be up soon.

Arative · Jun 17, 2013

That sucks about those cards. I'd try for the warranty replacement, you never know. You might get lucky.

I just got an email from BFL, that they shipped. BFL is in Kansas City, I'm in Saint Louis, so maybe tomorrow but by Wednesday for sure.

Alkorin · Jun 18, 2013

Well, they didn't short together. Only 1 of the cards is dead. The others are mining away again. Highly unlikely that the warranty will be honoured:

I might try to RMA it, but they are unlikely to believe me if I say that I don't know what was going on given that those are the capacitors opposite the RAM. Fairly obvious that I blew them out by overclocking, so... I'm probably better off just buying a new card if I plan to continue GPU mining.

Arative · Jun 19, 2013

I'd at least try to RMA it. Got nothing to lose really. Thankfully I haven't had anything like that happen to one of my cards. Do you underclock the ram when mining?

Alkorin · Jun 19, 2013

Yeah, RAM is at 975 down from 1375. I'm thinking I should lower it even more.

Tempted to try it from work but if it dies, I have no way to reset it until I'm home in ~10h. So maybe I'll try to lower it tonight. I've heard of people running the RAM as low as 300 or so, since it isn't a bottleneck for GPU mining.

Arative · Jun 19, 2013

I set my memclock down to 600 for all my cards. I tried to go lower but it made them unstable but then I was also messing with the overclocking the gpu and changing the voltage.

Skanda · Jun 24, 2013

http://arstechnica.com/tech-policy/2...in-foundation/

I don't expect this to be around much longer.

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