Bitcoins/Litecoins/Virtual Currencies
- Thread starter Tripamang
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Sanrith Descartes
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Mist
REEEEeyore
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I've been talking about this too. I think it means that speculative investors are looking for big holes to light money on fire. I expect speculative tech stocks to also rip upwards, think fintech stuff like SoFI.
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Yeah, at this point the main exchanges are solely for on/off ramp work. And that role is being eroded by other ramp methods.
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Abigailicious
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Glenn Greenwald did a great program about how elites just bought up MBF trash, SBF, whatever his name is. He literally bribed worthless leftist globalist media.
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Rajaah
Honorable Member
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If all else fails, yeah. Just try not to create too many taxable events.
Got a question for the room: Been wanting to do some mining for a while now and the prices of Antminer T9+ and S9 seem to have really dropped recently. I'm thinking about making use of my ultra-cheap potential power sources and setting up a bank of like 7-10 of them to mine Bitcoin 24/7, which by all mining calculations would probably make me about $10 a day (give or take a couple dollars) even with BTC what it is now. Doesn't seem like much but it's a nice extra few thousand by the end of the year if I can get it up and running. So the question is, is it a particularly bad idea to buy used Antminers? Going for entirely new ones would basically double the buy-in cost.
Also, any preferences on T9+ versus S9? I'm reading that S9 is more beginner-friendly and pumps out a little more ROI, while T9+ is bargain-basement price and isn't much lower in output.
Goatface
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just dropping in here after seeing this in the news. wouldn't this been loud as the devil?
gizmodo.com
Teacher Charged After Crypto Mining Operation Discovered in School Crawl Space
A judge issued an arrest warrant for a teacher charged with illegal crypto mining at a Massachusetts school.
gizmodo.com
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Caliane
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Eth shanghai fork is coming soon. This will free up Eth staking, allowing staked eth to be sold again.
I imagine everyone here has been paying attention, and was aware, but no posts on it. so, thought I would mention it.
Along with that securities. Kraken folded. payed a fine and shut down staking. ADA staking was stopped feb 8th. Eth is being halted on kraken when shanghai fork hits.
Coinbase is "in talks" and apparently is still staking.
I'm not sure whats up with Gemini and staking.
Brave browser is also shifting its local web based BAT, requiring you to deposit it to an exchange. this is happening in march or april. you can do the exchange now.
currently, with Uphold or Gemini.
I shifted my BAT to Gemini, and I noticed Gemini had links for eth and matic staking still. so, not sure how theirs is working.
(I looked into Daedalus Wallet for ada staking, but that wants like 200+gigs.. ooph.)
I imagine everyone here has been paying attention, and was aware, but no posts on it. so, thought I would mention it.
Along with that securities. Kraken folded. payed a fine and shut down staking. ADA staking was stopped feb 8th. Eth is being halted on kraken when shanghai fork hits.
Coinbase is "in talks" and apparently is still staking.
I'm not sure whats up with Gemini and staking.
Brave browser is also shifting its local web based BAT, requiring you to deposit it to an exchange. this is happening in march or april. you can do the exchange now.
currently, with Uphold or Gemini.
I shifted my BAT to Gemini, and I noticed Gemini had links for eth and matic staking still. so, not sure how theirs is working.
(I looked into Daedalus Wallet for ada staking, but that wants like 200+gigs.. ooph.)
Sanrith Descartes
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Sanrith Descartes
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fris
Vyemm Raider
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tax question, sorry if this was previously answered
I know a guy that mined some coin for most of last year. he has a report every 6 hours, showing how much coin he 'received', and a corresponding report showing the value of that coin at that time.
the tax question is, is mined coins you get when part of a group considered income? or is there no tax 'event' until those coins are sold? i know that's the case for buying and selling, i never considered the taxable event when mined
I know a guy that mined some coin for most of last year. he has a report every 6 hours, showing how much coin he 'received', and a corresponding report showing the value of that coin at that time.
the tax question is, is mined coins you get when part of a group considered income? or is there no tax 'event' until those coins are sold? i know that's the case for buying and selling, i never considered the taxable event when mined
Sanrith Descartes
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Mined coin is taxed upon receipt, not when its sold.
Digital assets | Internal Revenue Service
You may have to report transactions involving digital assets such as cryptocurrency and NFTs on your tax return.
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Rangoth
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I do not have a problem with that if the law is clear and consistent. Honestly that is no different than paying taxing on you company options strike price at the time of execution vs time of sale. Now “is that right” fair discussion for another day, but the concept is certainly not abnormal.
this is my beef with crypto. I’m ok with any rules(not really but you get my drift), but make them honest and clear
this is my beef with crypto. I’m ok with any rules(not really but you get my drift), but make them honest and clear
Sanrith Descartes
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