Quote from: Searing on February 01, 2018, 06:22:37 PM

Quote from: User705 on February 01, 2018, 08:42:36 AM

As this thread rushes headlong towards the 1 year mark the results are exactly the same as the Bitcoin asic roll out. The very first people sort of made out ok but no one did much better after that. And of course just buying LTC was the best move all along anyways. /sigh Wheres that guy with 300k a year income?
All the posts are there from years back and yet no one learns.

well, my issue right now is 50% goes to tax man on mining I'm doing now.....(40% fed about and 10% something to the State)....I also get the good old 5 year compressed
equipment deduction applied in 1 year ..which IF I pay taxes (I will), I will get a solid 25% additional off taxes I'm gonna pay anyway

so risk is 25%

ok....still does not make much sense to get the bitmain products...at this point

BUT....

Looking at JUST the stuff I have mined SINCE Jan 1st for this month.....I'm looking at a 25% loss.....so no usual, if I use a months mining to buy a miner and I dont have the 40% capital
gains to take out LTC to make for miners....which is damn attractive...this also would go for if I move it to USD...but still...

at this particular point of time...it would be some loss....thus ...in this window.....LTC mined to BCH to bitmain equipment of which ALL can be applied to what I made this

month...thus ..with this ....I can start Feb 2018 as having NO INCOME yet...would be a wash ....LTC to BCH to MINER would be the risk on this newly mined coin this month

more or less

so....

one of two things

1) Crypto will come back....above 10k or even stay in the 9 to 10k range...and this brief respite will be a good hedge on having equipment BEFORE it ramps back up.
(games we have all played in the past) ...using the above .....newly mined crypto w/o consequences to the tax man (unlike dec 2019 when I took a bath paying elec/data hall)

2) Crypto will tank on say Tether games being revealed and BTC will hit say 6k and say LTC dumps to 60 bucks and all other alts crash....and I time warp back to
2015 ..when I mined barely floating and accumulated crypto..whining the whole year...in other words the lack of capital gains this year (last 30 days)on crypto mined and getting
equip at the supposed higher prices now (before it dumps0 ..under above.... dismal view above...is my hedge...as I mine away and hope for a price pump

so 1) do you feel lucky? 2) do you want to hedge your bets on crypto mined at these prices so far this year and little/no capital gains on newly minted coins and punt to equip

So at my level of tax man games and equip depreciation......can I make back 25% to break even assuming the tax man and equip deductions above

probably no wrong choices in my boat here...but still on the fence

As to folk who are going to use hard BOUGHT fiat....or crypto more than 1 year and a day and cashing out for 20% capital gains (or in my case that does not apply would be 30% with
state tax)...or god forbid take out a loan! Ack! stop reading this now!

that is a lot of hope on say 75% real $$$ not going to say the tax man and a 25% equip deduction....of course, if you make enough on your home biz mining you can probably
say 25% would go to tax man add the 25% equip deductions, if you mine enough.... and move that up to a 50/50 gamble...still ugly

but anyway, I'M STILL SITTING ON THE FENCE at my calcs...so be cautious...I"m playing with 25% to break even and STILL parinoid about the march equip dump by coming by all and

also, there is gonna be a HELL OF A LOT OF MINERS DUMPING IN MARCH FROM BITMAIN...of many flavors.......we very well could get some miners...and be mining for fun if

not profit with high difficulty in the old days of 2015 accumulation of LTC or other crypto games (ack! $1.80 ltc ack! flashback ack!)

But also be aware...in 2015 THERE WAS NO SCRYPT EQUIPMENT HITTING THE MARKET...thus the knc titans as the last boat to float could tread water at these low/low prices
that would NOT be the case say March/April...also the bitmain terms say they DON'T have to ship till April 10th...so if the price pumps, big time, they can do the usual
keep the miners and mine, for a month....(evil does as evil does)

anyway, much to contemplate at my side of this bet...and probably more complicated for hobby miners...not at my tax level....will have to think on this

1) hedge equip for high crypto prices maintaining or coming back?

or

2_ hedge for equip now at high crypto prices...to have something to mine...and/or accumulate (cry over) if say BTC tanks to 6k and scrypt pow coins follow
with eventual recoup as crypto prices recover over the year (knock wood)

this crap was a lot easier to dwell on when the price of crypto was trying for a moon shot.......now I feel like the crypto capsule I"m in may not make orbit
nor will the capsule's parachute deploy for splashdown! Damn, sad affairs for my 'supposed' moon shot in the old HODL capsule...this year for crypto!

again shall 'naval gaze at my belly button' and meditate (probably with a beer or two)

fun hobby this whole mining gig is an't it

Quote from: AdRandum on February 01, 2018, 08:47:11 AM

Hashrate from Litecoin went from 40 TH on December 1st to 120 TH January 31th, this is incredible. Revenue went down from 25$ a day to 6$ a day.

This is becoming the next D3 miner. And all the January and March batches aren't active yet..

There are no other great coins to mine as well..

Also a good point above......still thinking on this however, there is something 'comforting' in being completely revenue 'neutral' tax man wise up till Feb 1st
by getting some of this march equipment as a hedge, but even at my above tax situation.....I sense a 'trap'

bitmain: we trap miners and DON'T catch and release..... (tm bitmain)

TLDR.