Quote from: Searing on May 15, 2014, 06:15:00 AM

Quote from: kthejung on May 14, 2014, 02:01:32 PM

Quote from: novello on May 14, 2014, 08:31:25 AM

Quote from: Somekindabitcoin on April 18, 2014, 01:04:28 AM

Quote from: infinitewealth on April 18, 2014, 12:42:12 AM

yes. soon knc will be setting up their own mining farm.

knc already has a private mining farm.

As to the ASIC's Spondoolies-Tech has a 5.4 TH machine in the works due to be ready to ship in August of this year. They also have said they are working on their third generation miner that would have so much TH that other miners will be obsolete.

In war it's a fatal mistake to assume that you are a lot smarter than your enemies. History has proven this over and over.

The commercial world is exactly the same, and arrogance usually gets rewarded with failure and defeat. If the Israelis think they're the only people around that can design efficient asics, then they're in for a rather rude awakening.

5.4 T/H at the end of August will not mean sh*t. It will only generate about 7 bitcoins before becoming obsolete... and how many bitcoins did it take to buy the machine?

most reliable profit calculator I've found https://cex.io/calc

well mining 'legal' under IRS rules last year and this year with deductions of 50% OFF full equip costs 1st year rest in 5 years this was 2013 (and likely to pass again 2014 in congress i heard on the news today) 2014.....with the equip last year and in the pipe this year...it will work out ..at least for what I've done so far (I like to mine)

with electricity and depreciation of tax burden by use of equip purchase up to 100% for 5 years (i assume bitcoin will last that long as well as I hold and hope btc price per coin goes way up!) *heh* * my CPA says "I'm really just a Farmer" lol*

If I can basically keep 6 coin out of every 10 coin I make. if i can run the equip out to the 100% depreciation still a pretty good deal at 50% off the 1st year
even if i find that ambitious in the long run...mining wise...i pay some to the IRS after equip is deducted but pay 2.3x as much in elec so not a big deal
the taxes paid for equipment for the depreciation stuff imho

how the guidelines are set up as of last year and this year ...i expect it in USA taxes to change in 2016 but will play this game 'legal' as long as possible

only real regret in my area no one else to bitcoin mine co-op with..this would be a lot more fun with a group of guys in the biz together...would be a hoot!

Searing

there will always be faster hardware, I take the middle road and go from there.

Grin