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    GPU Mining A long time ago in a galaxy far, far away...

    February 26, 2018

    GPU Mining A long time ago in a galaxy far, far away...

    A long time ago in a galaxy far, far away...

    Posted: 25 Feb 2018 11:05 AM PST

    Had a consultation with a tax professional

    Posted: 26 Feb 2018 07:13 AM PST

    So I bit the bullet and paid a pretty high hourly rate to see a tax professional.

    I'm in Canada so this won't apply to everyone here, but he basically confirmed what everyone else here says. Calculate capital gains on every trade and pay capital gains taxes on it. Nothing special there.

    Things I found out that I thought were interesting were:

    1. Here in Canada the CRA looks at your intent when deciding if your mining is a business venture or not. I was advised to keep my mining coins separate from my buy/hodl coins because if they decide my mining is a business then those coins get wrapped into that bucket and capital gains tax on businesses is higher than on personal. Mined coins and coins earned from forks both have $0 cost basis.

    2. He couldn't tell me exactly what differentiated a formal business from a personal venture, but he did say other than intent frequency of trading mattered a lot. If I'm trading every day it would be hard for me to say I'm not a day trader for example, and trading is not holding.

    3. In Canada you can act as a sole proprieter and file a t2125 form that lets you claim your electricity, equipment and any other costs of running the mining operation. You can even pro rate your rent/property tax based on the size of the mining room in your house and claim that as part of the expense.

    4. Ways or reducing taxable income include timing gains and losses so they offset or go in specific years, gifting coins to family in countries with better tax laws or splitting gains between spouses or family to prevent you from going into much higher tax bracket.

    5. He made the point that people in the tax agencies are not very sophisticated and if you can show reasonably what you've done they will have a hard time proving you wrong. For example, do they really understand the difference between addresses within an HD wallet? You could probably tell them those were each a different account and they'd not know any different.

    6. He has clients who have written 7 figure cheques for taxes and he has clients who have left the country and will not come back because they made so much. He pretty much said it's up to you how much risk you want to take and how much you want to claim. Thought that was pretty interesting. Also Portugal. If you have family in Portugal apparently they are very crypto friendly. Have them cash out and then gift you the money.

    submitted by /u/shadowofashadow
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    SmartMine: GUI, Profit Switching Miner (Beta 7 release)

    Posted: 26 Feb 2018 05:57 AM PST

    SmartMine is a profit-switching mining application that allows you to mine coins directly using whatever mining pools you choose. Download link: https://www.smartmine.org/

    Screenshots:

    GPU Info

    Coin Statistics

    SmartMine Log

    Pool Setup

    Benchmark

    Coin Selection

    Coin Setup

    The newest release adds an easy setup process for new users. When you first open SmartMine you are greeted with detailed instructions on how to create mining pool accounts. This way you should have SmartMine up and running in little time, even if you haven't mined with pools before.

    For help on setting up SmartMine, please visit: https://www.smartmine.org/help We also provide support on Discord.

    Why do we stand out?

    Mining with SmartMine is consistently more profitable than using services like NiceHash. This is because SmartMine allows you to mine coins directly instead of having to rely on on a hashing power marketplace, where both buyers and sellers need to make a profit. This can be verified on [WhatToMine](www.whattomine.com).

    SmartMine is able to detect when GPUs become inactive and restarts the mining program. This way, you'll have close to no down time on your mining. Detailed statistics are displayed for each GPU with the ability to set which GPUs to mine with, as well as temperature limits for each GPU.

    SmartMine Ltd. is based in London, UK. We're a passionate group of developers who want to bring you the best mining application we can. If you would like to request features / give suggestions, feel free to join our communities: Discord, Reddit, Facebook, Twitter

    Mining with SmartMine means you have complete control of your funds, as everything you mine goes into your mining pools. Please refer to the Help section on our website for information on setting up mining pools and converting funds.

    Features:

    • Switching mining to the most profitable coin
    • Automatic algorithms benchmark
    • You can choose any pool to mine into
    • Modern GUI with Dark and Light themes to select from
    • Intuitive setup process
    • GPU temperatures, power consumption etc. are displayed
    • Mining pauses while the GPU temperature limit is exceeded
    • SmartMine detects when the mining has stopped for whatever reason, and restarts it
    • Profitability statistics are displayed in a selection of many fiat currencies
    • Profitability takes the power cost per kWh into account
    • Auto-start mining when SmartMine.exe is run
    • Adjustable time to wait between coin profitability refreshes
    • Adjustable % revenue to switch mining from one coin to another
    • Detailed logging and analysis of all mining related data

    Features to come soon:

    • Estimated rewards obtained for each coin
    • Estimates of total power consumption over time

    Features to come at a later date:

    • Auto-conversion of mined coins into whatever coin you choose (the list of supported coins will be released when the feature is ready)
    • Coin price and mining difficulty forecasting using Machine Learning. With this feature, SmartMine will attempt to predict which coins will be more valuable in the future, hence giving priority to those coins. You will also be able to manually modify these priority values. We hope that this feature will greatly improve your mining revenue.
    • Linux support
    • AMD support
    • Remote monitoring

    Frequently Asked Questions (FAQ)

    How will we implemnent autoconversion in the future?

    This will be possible by developing our own mining pools without a fee. This way we can 'cut out the middle man' and offer our users a lower overall fee. However, develping our own pools will require quite a few users for the pools to be effective.

    ETA for auto-conversion?

    Unfortunately we can't give an accurate estimate at this time, since we can only start developing our pools once we have sufficient users that will use them. We hope to bring you this feature within a year. For the time being, you can mine coins directly with SmartMine and covnert them on an exchange. Please refer to this guide for instructions on doing this: smartmine.org/help If you decide not to use our auto-conversion in the future, that's OK, you can continue mining coins directly as SmartMine will have support for both options.

    How can we tell the dev fee is accurate?

    When SmartMine is mining for the developers, a message will appear in the SmartMine Log tab in the GUI. The application also runs ccminer, EWBF and Ethminer externally as shell commands, therefore, you can create a script to monitor the authentication (i.e., username and password) sent in those commands to confirm they are yours.

    Open source?

    SmartMine is currently closed source. We have spent a lot of time developing the application, adding multi-threadding, downtime detection, a GUI, as well as many other features to make your mining experience better. We love open source software and we plan to make it open source when we add the auto-conversion feature.

    Supported coins: ALTCOM, BTG, CRC, DCR, DGB, ETC, ETH, ETN, EXP, FTC, GBX, GRS, HUSH, KMD, LBC, MONA, SIB, TRZ, UBIQ, VIVO, VTC, XVG, ZCL, ZEC and ZEN (with more added periodically).

    We made an post here about a month ago, we've listened to your feedback and implemented a variable fee, which allows you to modify the dev fee (as low as 0.5%).

    submitted by /u/aL_eX49
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    If whattomine goes away tomorrow how can one calculate coin profitability?

    Posted: 26 Feb 2018 03:48 AM PST

    How to safely buy a rig with btc?

    Posted: 26 Feb 2018 03:41 AM PST

    I'm trying to buy a rig from someone with btc, what's the safest way to make sure I get the shipment after I pay? Can I write a contract?

    submitted by /u/Winnal
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    RudeHash 3.0 released with algo mining + zpool support

    Posted: 26 Feb 2018 02:48 AM PST

    Asus b250 mining expert issues with cards coming unplugged

    Posted: 26 Feb 2018 05:59 AM PST

    I am having a hard time with my b250 mining expert. The cards seem to come unplugged or something a lot. If I just have the machine running for a couple days, ill log in and the miner will be closed and Ill have all these gpu errors. When I restart the machine, I get less gpus then are actually plugged in. 2-3 of them show as red in the bios. I have to go to the machine and start unplugging and re-plugging, then after a couple restarts, I get all 13 again... its a huge pain the but. This doesn't happen on either of my 2 8 gpu racks. Anyone who have the board experience this issue? Any advice? Thanks!!!

    submitted by /u/kansurr
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    All In! GPU Mining!

    Posted: 26 Feb 2018 07:55 AM PST

    Setting P0 performance level in Linux?

    Posted: 26 Feb 2018 07:55 AM PST

    Does anyone know how I can set the P0 performance level for 1080/1070/1060 cards in Linux? I do it in Windows using NvidiaProfileInspector and I have confirmed the cards are in P0 and my hashrate goes up accordingly. I actually get a better hashrate just setting P0 state than overclocking, so I would like to try this in Linux, but information is limited on it.

    I've tried setting various parameters using nvidia-smi in Linux, but it never goes to P0 and my hashrate never changes. I can only do it in Windows using NvidiaProfileInspector and I'm worried I just cant do it in Linux. Any ideas?

    submitted by /u/jmayniac
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    Questions about powering a 6x GPU rig with risers

    Posted: 26 Feb 2018 07:41 AM PST

    Hi guys,

    I am currently a hobbyist miner, using a couple gaming PCs to turn some extra profit.

    I am looking into building a dedicated 6 GPU rig. Please spare me the "it's not profitable" and "you should have started 6 months ago" stuff. This is fun to me.

    Anyways, I am trying to figure out how most people are powering their 6 GPU rigs with 1000W and 1200W PSUs.

    Let's take a 1200W PSU. Safe loading at 80% is 960W.

    CPU + RAM + MOBO =~ 125W

    6x GPU (undervolted) =~ 600W

    6x PCIE risers (up to 75W each) =~ 450W

    Already we are above the safe 80% threshold for our PSU. So how are people doing this? Can someone explain what I am missing? I think I may be misunderstanding the risers.

    Thanks.

    submitted by /u/PM_ME_FROGS_MY_DUDES
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    Best place to mine w/ 1070 ti?

    Posted: 26 Feb 2018 01:32 AM PST

    Currently on Nicehash only making .0029-.003 with 11 cards. Thinking about going back to mph.

    submitted by /u/Winnal
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    Multi algo switching on MPH using simpler miner

    Posted: 26 Feb 2018 07:02 AM PST

    Does anyone know which miner to use in SMOS if I wanted to multi algo mine with equihash and lyra2re2? Will ccminer switch between the two algos?

    Thanks in advance

    submitted by /u/rezin385
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    Asus PRIME Z270-K supports 4 gpu's without M.2?

    Posted: 26 Feb 2018 06:53 AM PST

    Does this mobo supports 4 gpu's without using the M.2 slots?

    submitted by /u/Zcashfreak
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    Any point to increase core voltage?

    Posted: 26 Feb 2018 02:10 AM PST

    If cards are low temp does core voltage do anything?

    submitted by /u/Winnal
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    Rumor : NVIDIA GTX 2080, 2070 Ampere Cards Launching March 26-29 At GTC 2018

    Posted: 25 Feb 2018 03:49 PM PST

    What buying GPUs feels like recently

    Posted: 26 Feb 2018 05:17 AM PST

    Poolmining profit and expiriences.

    Posted: 26 Feb 2018 04:18 AM PST

    I just started poolmining yesterday. The mined amount is alot less that the projection said before i started. is there a luck factor involved if i manage to solve the blocks or is what to mine just plain wrong?

    i managed to tweak my cards to return me 7850mh/s doing neoscript. i have gotten like 0,4 gobyte since about 8 pm yesterday. does this sound right to you ? The pool takes a 0,5% fee so i dont think that is the culprit. are your mined amounts variable on a day to day basis by a factor of like 20-30% ?

    I can see the diffrent mined amounts on like 50 minute time interveals in the pool info and its transfers to the internal pool wallet and there is a variance between each transaction. Anyways please enlighten the nooblar

    submitted by /u/gunnar22
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    Got in two new GPU's and.......the horror

    Posted: 25 Feb 2018 11:21 AM PST

    Should I sell my alt crypto for a mining rig?

    Posted: 26 Feb 2018 02:00 AM PST

    I am currently holding a certain amount of ven. would it be wise to sell them to spend 5k usd on a 10x 1060 rig? or a 12x 1080 rig...

    Would any experienced user kindly advise?

    submitted by /u/licenselessdriver
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    Need help for a hybrid rig gaming+mining

    Posted: 26 Feb 2018 01:56 AM PST

    Hey guys! Found this subreddit today and asked this questions in other subreddits, too. But no one really helped me. I have currently a be quiet Dark Base Pro 900 case. 2 GPUs: 1x EVGA 1080 Ti Hybrid 1x Zotac GTX 1070 (2 Fans) 6 HDDs CPU : i7 8700k watercooled I want to get my 1070 out and put 2 more GTX 1080 Ti or keep the 1070 and put 1 more gtx 1080TI in this rig. So my problem is, im not really experienced with the temperature of a closed rig. There is like 2-4cm space between my GPUs. If i put there a third GPU in it, it would look like this

    First GPU watercooled 2-4cm space Second GPU Fan cooled 2-3 Fans 2-4cm space Third GPU Fan cooled 2-3 Fans 5cm space PSU Seasonic 1000W Titanium

    Anyone give me some advice for it? And no i dont want a open air rig, if I would have this option i would have it already. Thanks in advance!

    submitted by /u/Werwolf512
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    Is there a sub or anywhere on this sub for requesting to rent someones rig for a specific coin?

    Posted: 25 Feb 2018 09:49 PM PST

    I'm looking to rent some hash power for a specific coin, not sure where to look.

    submitted by /u/Jadencallaway
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    Update on the rigs...

    Posted: 25 Feb 2018 10:25 AM PST

    GDAX Automation with C# and MiningPoolHub

    Posted: 25 Feb 2018 09:18 AM PST

    Figured I would share. Pretty basic but allows me to sell what I mine automatically so it shows up in my bank account. This is using MiningPoolHub with auto convert and GDAX exchange to sell. I will later probably code logic for doing the 0% Maker fee with GDAX but for now it is just selling market.

    You will need to go to GDAX settings and configure the API to use for the authenticator object.

    Also I am converting and selling LTC - if you are doing something else you will need to update that.

    Also the withdraw is using the API's GUID ID for my bank account. You will need to know this from the API or debug this and step through.

    I may later make it nicer (args on startup, etc.) but suits my needs for now. Just figured I'd share in case anyone else wants it.

    You will need Visual Studio and grab https://github.com/dougdellolio/gdax-csharp or get it from Nuget.

    namespace Gdax.Automate { class Program {

     static void Main(string[] args) { Program program = new Program(); program.MainAsync().Wait(); } async Task MainAsync() { try { //create an authenticator with your apiKey, secret and passphrase var authenticator = new Authenticator("apikey", "secret", "passphrase"); //create the GDAX client var gdaxClient = new GDAXClient.GDAXClient(authenticator); //use one of the services var allAccounts = await gdaxClient.AccountsService.GetAllAccountsAsync(); GDAXClient.Services.Accounts.Models.Account usdAccount = new GDAXClient.Services.Accounts.Models.Account(); GDAXClient.Services.Orders.Models.OrderSide orderSide; GDAXClient.Shared.ProductType productType; foreach (GDAXClient.Services.Accounts.Models.Account account in allAccounts) { //sync through non-USD non-zero accounts to sell to USD if (account.Currency == "LTC" && account.Balance > Convert.ToDecimal(0.1)) { orderSide = GDAXClient.Services.Orders.Models.OrderSide.Sell; productType = GDAXClient.Shared.ProductType.LtcUsd; decimal balance = account.Balance; //market sell var orderResponse = await gdaxClient.OrdersService.PlaceMarketOrderAsync(orderSide, productType, account.Balance); } else if (account.Currency == "USD") { usdAccount = account; } } //withdraw to USD bank var paymentMethods = await gdaxClient.PaymentsService.GetAllPaymentMethodsAsync(); if (usdAccount.Balance > Convert.ToDecimal(20)) { var withdraw = await gdaxClient.WithdrawalsService.WithdrawFundsAsync("bank-guid-that-you-find", Math.Round(usdAccount.Balance, 2), GDAXClient.Shared.Currency.USD); } } catch (Exception ex) { throw ex; } } }

    }

    submitted by /u/Croireavenir
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    Capital gains when mining directly to wallet

    Posted: 25 Feb 2018 02:13 PM PST

    Firstly, I should say I don't mind paying taxes. I don't love it, but I do like having the things that taxes pay for, like schools, roads, etc. And, if we want crypto to become widely accepted, then paying taxes is going to be part of that.

    I've read some posts and looked at some other websites, and I understand the idea of capital gains. If I mine a coin worth X, and sell it later on for Y, then the gains would be the difference between the X and Y. If I'm mining to an exchange or a pool like MPH then this isn't really an issue. I can mine for a day or a week or whatever length of time, and once I transfer it to an external wallet, that's my X value. Whatever I end up selling it for would be Y.

    But what I'm struggling with, and what no one really seems to know is what to do about coins that get mined straight to a wallet. There's no starting point, since coins will trickle in. I can't imagine (and probably actually couldn't) that I'm supposed to calculate the value of each fraction of a coin as I receive it. I'm not even sure any pools provide that sort of info.

    So how does every handle it? Or is it so difficult to actually track that I might as well say "What capital gains?"

    submitted by /u/HumanKumquat
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    Rig doesn't boot / Solid white MEMOK light on Z270-A after adding 8th and 9th GPU

    Posted: 25 Feb 2018 06:32 PM PST

    UPDATE: The 1 to 4 adapter must be used in a PCI 16x slot, kudos to u/realslizzard

    Hello, I have an all Nvidia mining rig running Win10. I just added two more video cards using a 1-to-4 PCI-e usb adapter and now it will not boot up at all. The MEMOK DRAM light flashes red and then stays solid white, I can't get anywhere.

    I had all the proper BIOS settings to do 7 GPU's properly, so I don't believe I needed to change anything and I'm not using M.2 ports. I knew at one time people said you couldn't have more than 8 Nvidia GPU's at the same time in Windows, but I've read many posts and such saying that's been resolved.

    Regardless I'm not sure if maybe I need to do something with the PCIe adapter to get it to work? There's no real instructions and it just has 4 blue lights that flash around it in a cool pattern. The Amazon reviews were all quite good for it too.

    Any assistance would be appreciated, I'm stuck at a crossroads where if I can't get this to work with the 1-to-4 adapter then I'd need to consider getting a whole new mobo/cpu/etc... just for a couple extra cards xD.

    Thanks!

    submitted by /u/RobDaBomb
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