Quote from: kthejung on May 25, 2014, 05:23:41 AM

Quote from: Somekindabitcoin on May 23, 2014, 08:37:15 PM

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.

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

It's actually $5,350 for one 5.4 TH miner. It can actually go up to 6.5 TH, but 5.4 is the guaranteed Hash rate. I'm buying 4 of them which is over 20 Th. The hash rate does not increase 50% every month. It barely jumps 2 billion ever month. You can say what you want, but i'm the big miner here. You're the guy with the antminers. I'm here with the huge ass money generators. I should return over >50 BTC. I'm going to keep 50% and spend the other 50% to buy more miners. Only 11 bitcoins to buy the miners...

At the time of the original post, the price of bitcoin was about $450. For what you would pay to pre-order the spondoolies, you can just buy 47.5 bitcoins outright; without paying additional costs for the huge electric bill. Have fun with your huge ass heat and noise generators.

yeah you may have a point i'm in the usa mining legally (don't get me started on how that happened but it got the bank and irs off my bank seeing my 'legal' bitcoin tax return for 2013..so i'm taking it as a win..sorry....the zombies got me the rest of you run away

anway I DO have to pay 25% of whatever I mine at the time it hits my block address as income....I can however take off ALL in equip depreciation last year it was 50% this year may be the same...usually 20% for 5 years (hey as long as guidelines stay as they are written)...so SUPPOSEDLY I can get a lot of my equip costs back..but in my unigue case I bought equipment as a hedge at the first of the year due to the fact I make 50 to 75 coins mining and btc tops 1k a btc..i could be in some serious hurt to the tax man

it an't much....but it is a hedge as long as i'm legal and/or until they change the rules back to 20% captial gains on coin only and equip risk is your own....etc

last year anyone will mine at home anyway imho

again my situation is unigue..backed into being legal and it saved my butt...but then again....looks likely i'll pull out of this ok...IF BTC survives as a business for next 3 yrs or so
etc etc...if not i'll just make a bigger splash then you guys when i fall out of orbit (good to have goals)

so it goes..i do know some people that trade gold/silver that mine legal for their other biz reasons etc but there are few of us in usa in this position most are sitting imho
till 2015 when rules hopefully (likely) will be more sensible and then they will 'gasp' announce to the IRS what a good year they had Wink

was my plan..alas

remember me when you get past the guard towers and to the trees...i be caught...(damn it)

Searing