Quote from: OgNasty on Today at 12:27:43 AM

Quote from: MoparMiningLLC on Today at 12:18:38 AM

ok - I was unclear if the agreement allowed you to keep any portion of the revenue being generated. Are you compensated for the cost to run the miners?

Nope. All electricity costs have always come out of my own pocket. I know it seems odd that people would attack someone for running miners for others behalf and paying all the associated costs for them, but that's literally what is occurring here.

all other things aside, you should be compensated for the cost of operation. So, 100% of all mining revenue goes to the seats (minus what goes to nastymining)?

Quote from: MoparMiningLLC on Today at 12:18:38 AM

as for the ROI aspect, until the seats are worth more BTC than they cost (being worth more USD is irrelevant) the ROI is negative.

This is a dangerous statement that could potentially land you in big trouble with the tax reporting agencies in your country. If you claim a loss of funds to your government's tax agency the way people claim it on this thread, you will likely face penalty as you should be claiming your fiat gains. Stating otherwise is a dangerous claim that could land people in hot water if they listen to you, so be careful.

[/quote]

If they were to invest BTC as BTC and they lost BTC, it could be claimed as a loss. If they were to invest BTC by converting it to Fiat and it lost value in relation to BTC but gained value as Fiat, they would owe tax on the Fiat gains - because it was Fiat not BTC. In these people's cases, they gave you BTC and they are getting a return in BTC - at no point did they convert the BTC to Fiat nor are they being getting a return in Fiat. So, to have paid 1.6 BTC and have only 0.00950615 BTC in returns is a loss. If they were to cash out now (get no further disbursements) and convert the 0.00950615 BTC to Fiat, yes, they would pay taxes on the 0.00950615 BTC. I am pretty sure for investment purposes (I could very well be wrong), it is not taxable until one converts it to Fiat.

Personally I am not an investor with my BTC, I get mine thru mining and as a miner I have to claim the value of the BTC at the time it is mined, and then claim the loss/gain when I convert it.
My RL job pays me in Fiat, at which time I then convert it 100% to BTC. I use BTC to pay for everything I can and when I cannot use BTC, I convert it back to Fiat. At every conversion, I either owe tax for any gains, or I can file a loss if the value is lower. I add all that up at the end of the year. Have done this for my taxes since 2018.