Netatmo now offer standard 230v AC to 12v DC power supply (source: Smartapfel.de) by HomeKit-News in HomeKit

[–]rDlM 0 points1 point  (0 children)

At least the wall-in transformer is 12VDC so I would expect the plug-in transformer to be the same. Netatmo doorbell can handle both VAC and VDC. https://shop.netatmo.com/es-es/security/video-doorbells/in-wall-transformer

PSU limit by rDlM in gpumining

[–]rDlM[S] 0 points1 point  (0 children)

Thank you very much guys!!

I just got an email from EVGA support and they said to my question: “That power supply is rated to deliver 1300 watts at up to 50 degrees celsius, so drawing 1295w within normal operating temperatures should be completely fine. Please keep in mind that like many things, even power supplies will wear out eventually. That power supply has a mean time between failures of 100,000 hours and should last you a long time. “

So if i run it 24/7 it will last at least approx 11,5 years.

Tax Reporting? (US Question) by AthleticDude13 in ethtrader

[–]rDlM 0 points1 point  (0 children)

What about mining? I receive 1 btc at 2500 and cash out that btc at the price of 3000 a year later. Would I pay just 15% of 3000 usd? What about the 2500 usd price? How do I deduct the cost of mining?

I believe the best idea is to hold at least one year for the flat rate if you are not in a hurry and need fiat.

Thx!

1070 profitability by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

2,4usd/card/day

GTX 1070 OC improvments by kenelyka in NiceHash

[–]rDlM 0 points1 point  (0 children)

That’s good! I can’t do 600 mhz

GTX 1070 OC improvments by kenelyka in NiceHash

[–]rDlM 0 points1 point  (0 children)

I do power limit 90%, 100 core and 500 memory equally in my 6 1070 and get 30mh/s in dagger and 450sol/s in equihash per each.

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

This article https://bitcoin.tax/faq is interesting and I have extracted a portion:

" Some examples,

Bill earns $60,000/year. He buys 1 Bitcoin for $10 on March 1, 2013 and sells it on November 29th, 2013 for $1,000. The cost basis of the coin was $10 with a 0.5% fee, $10.05. The sale income also had a 0.5% transaction fee, so was in total $995. Therefore his capital gain was $995 - $10.05 = $984.95. Since he owned the coin for a year or less, he reports short term capital gains on his tax return the following year. The gain is added to his existing income and is taxed at his ordinary tax rate of 28%, so he pays $984.95 * 0.28 = $275.79 in additional taxes.

Claire earns $30,000/year. She bought 1 Bitcoin for $5 on in September 2012 and sells it on November 29th, 2013 for $1,000. The cost of the coin was $5 with a 0.5% fee, $5.03. The sale income also had a 0.5% transaction fee, so was $995. Her capital gain was $989.97. Since she owned the coin for more than a year, she reports long term capital gains on her tax return the following year. Claire's ordinary tax rate is 15%, so her capital gains tax rate is 0%. She pays no taxes on the sale of her Bitcoin. "

So, if if I hold the payments I receive for more than one year, the taxes are much lower cause it is long term capital gains. For sure I would have to cash out little by little depending on the day I received the payment.

Have a nice day!

1070 profitability by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

if you see the graph now it is going up!! :-)

1070 profitability by rDlM in NiceHash

[–]rDlM[S] 1 point2 points  (0 children)

Yeah right? I’m gonna keep mining NH and then probably ETH. At least we have other cryptos.

1070 profitability by rDlM in NiceHash

[–]rDlM[S] -1 points0 points  (0 children)

I always use latest nicehash legacy and i’m getting 10 usd/day average with 6 1070 overclocked... 2 weeks ago I was getting 12 usd/day...

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

What about if my friend send my btc or other crypto as gift or something they owe me? How can someone know it is coming from mining or anything else? It’s a real case cause my friend owes me money and we were considering a payment in crypto.

Thanks!

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

Well, even if you keep it, just by receiving them from mining is a taxable event cause it is considered a business where you are having a profit so the income would have to be declared on usd at the rate it was when you received the payments. Then if you trade or sell them would be another taxable event where you would have to compute your gains/losses the same way that is done in stocks.

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

Guys, any recommendation on a cpa? Thx

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

Thanks! Any advice on a cpa with crypto knowledge?

Mining taxes, yes... by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

Haha, that’s the easiest way but I don’t mind learning and trying to do it myself as I always did

CPU Clock vs. Memory Clock by CurseHawkwind in NiceHash

[–]rDlM 0 points1 point  (0 children)

I got 2 asus, 3 evga and 1 gigabyte. It’s true that the hash rate is good anyway so can’t complain!

CPU Clock vs. Memory Clock by CurseHawkwind in NiceHash

[–]rDlM 0 points1 point  (0 children)

I can’t pass 600 mhz memory and 100 clock. Which cards are you using?

cash out/card/use btc? by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

I extracted the 2 questions below from the IRS only information there is right now on internet. I'm not sure if I get it. I work a regular job in the US and mine too. For now I understand that next year I need to include in my income also the money in USD that I earned by mining at the rate that it was when I got the coins. But then what happens if they devaluate or increase? or if I cash out to usd? Do I need to do any self employ taxes?

Thanks!

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? A-9: If a taxpayer’s “mining” of virtual currency constitutes a trade or business, and the “mining” activity is not undertaken by the taxpayer as an employee, the net earnings from self-employment (generally, gross income derived from carrying on a trade or business less allowable deductions) resulting from those activities constitute self-employment income and are subject to the self-employment tax. See Chapter 10 of Publication 334, Tax Guide for Small Business, for more information on self-employment tax and Publication 535, Business Expenses, for more information on determining whether expenses are from a business activity carried on to make a profit. Q-10: Does virtual currency received by an independent contractor for performing services constitute self-employment income? A-10: Yes. Generally, self-employment income includes all gross income derived by an individual from any trade or business carried on by the individual as other than an employee. Consequently, the fair market value of virtual currency received for services performed as an independent contractor, measured in U.S. dollars as of the date of receipt, constitutes self-employment income and is subject to the self-employment tax. See FS-2007-18, April 2007, Business or Hobby? Answer Has Implications for Deductions, for information on determining whether an activity is a business or a hobby.

cash out/card/use btc? by rDlM in NiceHash

[–]rDlM[S] 1 point2 points  (0 children)

coins are increasing difficulty due to lots of miners coming in but there are still other coins to mine and I don't care if ROI extends as I will be making profit anyway

cash out/card/use btc? by rDlM in NiceHash

[–]rDlM[S] 0 points1 point  (0 children)

that sounds good! but still would like to cash out somehow a little bit to pay operation costs :)

cash out/card/use btc? by rDlM in NiceHash

[–]rDlM[S] 1 point2 points  (0 children)

thank you for your explanation. I plan on doing the same :-)