Topic: First Asic for SIA - Obelisk SC1 - page 16. (Read 29272 times)
It is safe to order this miner? How can I be sure that they won't run with my money.
Obelisk was sent an email about "Confirmed! We have received your coins. You will receive a second email when we verify + process the payment, and convert it to USD. This should be within 1 day. Thanks so much for your support and patience!
- Zach Herbert, VP of Operations "
But no any reply after this email.
Does anyone receive reply after received that email??
- Zach Herbert, VP of Operations "
But no any reply after this email.
Does anyone receive reply after received that email??
Yes, you should get a second email. They have been swamped trying to get the v1.3.0 of Sia out the door and have been slow processing the orders. You can always reach out to them and ask for your status in particular. If it is has only been a couple days, I wouldn't worry. If it is over a week, I would reach out to Zach and get an up to date status on your order.
I am new to this
I would like to ask a question
How much is mining return if I invested in $1000 of devices ( I have solar electricity so it can be considered free)
Thank you
I would like to ask a question
How much is mining return if I invested in $1000 of devices ( I have solar electricity so it can be considered free)
Thank you
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no?Was talking more about a tax deduction which will help with profitability.
In my case....I'm looking at 50% to IRS if I hold coin I mined (talking LTC)
28% FED
10% STATE TAX
12% SOC SEC/MEDICADE (setup as self-employed)
thus...I can give 50% to IRS/state/etc taxes and keep 1/2 my coin mined (or xfered from LTC to BTC etc in USA they call mining income..the IRS is not pleased mining coin out of thin air)
or
I can figure that 50% is lost...to the IRS as a done deal..and get another 25% off in equip deduction applied to taxes this year...I know I'm gonna pay some in anyway
so that is 25% off in real $$$ towards this year's bill.
and thus my real risk on a Siacoin miner is 25% more then Just paying the tax man for the BTC in question to purchase one...ASSUMING I pay this year and it arrives
next year
odds..its all about odds..why you see folk double down on equipment ..in USA if I make 60k in coin I pay 30k in taxes. (could be less of a % but had a huge year)....if I buy 60k in equip I owe nothing and have equip to putter along and mine into next year
this goes for all equip I get this year ASIC wise etc ..no matter the flavor or ASIC or Coin mined. You get 100% off All equipment applied to your gross income.
thus having an 'interesting' year
be careful what you wish for mining ..you may surely get it
silly hobby
I am looking into various methods, currently running down the idea of contributing into a retirement account to reduce income. If its on behalf of yourself, its not a deduction for the business, but is a pre-agi adjustment, so some tax benefit, but if its for an employee, say a spouse
, then its a deduction. I need to run some numbers.yeah.....I need to look into this probably.... but again my situation is unique this year with 4.15 to 50 buck LTC...thus will make in income 100k or more
(40k spent to get me into this thing as it chugs along) and maybe 40-60k (all profit) due to all expenses for the year (elec/hosting/etc) already paid.
If I can get over the hump into 2018...then back to normal ..you can't have above LTC price increase AND ROI on all your stuff (with prev ROI'd stuff) in 2 months
without getting caught like this at the end of the year
(knocks wood: hope same thing happens with obelisk sc-1 miners next year..that would teach me)
the die is cast......at least for the next 5 months.....buy everything
sheeshsilly hobby
HEHE I know the pain. If I come up with any other ideas I will make sure to pass it along to you. Being a tax accountant, this is always on my mind.
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no?Was talking more about a tax deduction which will help with profitability.
In my case....I'm looking at 50% to IRS if I hold coin I mined (talking LTC)
28% FED
10% STATE TAX
12% SOC SEC/MEDICADE (setup as self-employed)
thus...I can give 50% to IRS/state/etc taxes and keep 1/2 my coin mined (or xfered from LTC to BTC etc in USA they call mining income..the IRS is not pleased mining coin out of thin air)
or
I can figure that 50% is lost...to the IRS as a done deal..and get another 25% off in equip deduction applied to taxes this year...I know I'm gonna pay some in anyway
so that is 25% off in real $$$ towards this year's bill.
and thus my real risk on a Siacoin miner is 25% more then Just paying the tax man for the BTC in question to purchase one...ASSUMING I pay this year and it arrives
next year
odds..its all about odds..why you see folk double down on equipment ..in USA if I make 60k in coin I pay 30k in taxes. (could be less of a % but had a huge year)....if I buy 60k in equip I owe nothing and have equip to putter along and mine into next year
this goes for all equip I get this year ASIC wise etc ..no matter the flavor or ASIC or Coin mined. You get 100% off All equipment applied to your gross income.
thus having an 'interesting' year
be careful what you wish for mining ..you may surely get it
silly hobby
I am looking into various methods, currently running down the idea of contributing into a retirement account to reduce income. If its on behalf of yourself, its not a deduction for the business, but is a pre-agi adjustment, so some tax benefit, but if its for an employee, say a spouse
, then its a deduction. I need to run some numbers.yeah.....I need to look into this probably.... but again my situation is unique this year with 4.15 to 50 buck LTC...thus will make in income 100k or more
(40k spent to get me into this thing as it chugs along) and maybe 40-60k (all profit) due to all expenses for the year (elec/hosting/etc) already paid.
If I can get over the hump into 2018...then back to normal ..you can't have above LTC price increase AND ROI on all your stuff (with prev ROI'd stuff) in 2 months
without getting caught like this at the end of the year
(knocks wood: hope same thing happens with obelisk sc-1 miners next year..that would teach me)
the die is cast......at least for the next 5 months.....buy everything
sheeshsilly hobby
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no?Was talking more about a tax deduction which will help with profitability.
In my case....I'm looking at 50% to IRS if I hold coin I mined (talking LTC)
28% FED
10% STATE TAX
12% SOC SEC/MEDICADE (setup as self-employed)
thus...I can give 50% to IRS/state/etc taxes and keep 1/2 my coin mined (or xfered from LTC to BTC etc in USA they call mining income..the IRS is not pleased mining coin out of thin air)
or
I can figure that 50% is lost...to the IRS as a done deal..and get another 25% off in equip deduction applied to taxes this year...I know I'm gonna pay some in anyway
so that is 25% off in real $$$ towards this year's bill.
and thus my real risk on a Siacoin miner is 25% more then Just paying the tax man for the BTC in question to purchase one...ASSUMING I pay this year and it arrives
next year
odds..its all about odds..why you see folk double down on equipment ..in USA if I make 60k in coin I pay 30k in taxes. (could be less of a % but had a huge year)....if I buy 60k in equip I owe nothing and have equip to putter along and mine into next year
this goes for all equip I get this year ASIC wise etc ..no matter the flavor or ASIC or Coin mined. You get 100% off All equipment applied to your gross income.
thus having an 'interesting' year
be careful what you wish for mining ..you may surely get it
silly hobby
I am looking into various methods, currently running down the idea of contributing into a retirement account to reduce income. If its on behalf of yourself, its not a deduction for the business, but is a pre-agi adjustment, so some tax benefit, but if its for an employee, say a spouse
, then its a deduction. I need to run some numbers.
Obelisk was sent an email about "Confirmed! We have received your coins. You will receive a second email when we verify + process the payment, and convert it to USD. This should be within 1 day. Thanks so much for your support and patience!
- Zach Herbert, VP of Operations "
But no any reply after this email.
Does anyone receive reply after received that email??
- Zach Herbert, VP of Operations "
But no any reply after this email.
Does anyone receive reply after received that email??
I know this may be a subject for a different thread, but I like to live on the edge... also, I think there might be some overlap in interest...
Does anybody here own a SiaFund? If so, what has been your experience (maintenance difficulty, payout history etc?). Would you ever look to sell?
I'm considering it as an easier to manage alternative ...
Does anybody here own a SiaFund? If so, what has been your experience (maintenance difficulty, payout history etc?). Would you ever look to sell?
I'm considering it as an easier to manage alternative ...
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no?Was talking more about a tax deduction which will help with profitability.
In my case....I'm looking at 50% to IRS if I hold coin I mined (talking LTC)
28% FED
10% STATE TAX
12% SOC SEC/MEDICADE (setup as self-employed)
thus...I can give 50% to IRS/state/etc taxes and keep 1/2 my coin mined (or xfered from LTC to BTC etc in USA they call mining income..the IRS is not pleased mining coin out of thin air)
or
I can figure that 50% is lost...to the IRS as a done deal..and get another 25% off in equip deduction applied to taxes this year...I know I'm gonna pay some in anyway
so that is 25% off in real $$$ towards this year's bill.
and thus my real risk on a Siacoin miner is 25% more then Just paying the tax man for the BTC in question to purchase one...ASSUMING I pay this year and it arrives
next year
odds..its all about odds..why you see folk double down on equipment ..in USA if I make 60k in coin I pay 30k in taxes. (could be less of a % but had a huge year)....if I buy 60k in equip I owe nothing and have equip to putter along and mine into next year
this goes for all equip I get this year ASIC wise etc ..no matter the flavor or ASIC or Coin mined. You get 100% off All equipment applied to your gross income.
thus having an 'interesting' year
be careful what you wish for mining ..you may surely get it
silly hobby
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no?Was talking more about a tax deduction which will help with profitability.
And expense/depreciation of equipment.
But with those numbers... surely you could stay ahead of the curve for a very long time, no? Who knows man, a lot can happen in a year. We'll see x number of turmoils like this.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
that does seem like a good way to go about it, but still, I really like the idea of a passive income from mining...I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
And expense/depreciation of equipment.
Who knows man, a lot can happen in a year. We'll see x number of turmoils like this.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
that does seem like a good way to go about it, but still, I really like the idea of a passive income from mining... I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
Who knows man, a lot can happen in a year. We'll see x number of turmoils like this.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
That's what I did, just bought 200k SC, decided to hold it until these miners come out.
Who knows man, a lot can happen in a year. We'll see x number of turmoils like this.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
I decided not to buy it personally, I'd rather put 1 btc now and hodl 300k sia.
Actually I bought millions back when it was 10 satoshis, but sold it.
No one knows how the market will be in 1 yr
that is true. they do seem like a well managed and professional team though.it might be a very good investment, if the market is still in a boom...
if I understood correctly, they will keep selling SC1's until they fill the 4000 order? so I could still wait a couple of months? or will they suddenly close the order book?
So, is this a good investment?
No one knows how the market will be in 1 yr
So, is this a good investment?
I can't decide if I should order one or not. It worries me that only 1350 have presold.
cause ppl don't have faith in the coin....that is all
That doesn't really help my concerns at all. I like the coin, but the development team seems to have issues, will this coin even be around by July of next year?
I was told these miners will only do blake2b is it? Not blake2 coins?
So could blake2b coins be invented? Or is that impossible and I just looped
into making a siacoin doppelgänger instead, defeating the whole concept?
(Ouch, sprained my brain)
I don't know all (/any) of the details, but there WAS a coin a few years ago called OCTANE that used Blake2b. Skunk coin, inactive dev. team, never made it onto an exchange.
https://bitcointalk.org/index.php?topic=1100713.160
BUT it does show that it's possible... and these ASICs COULD bring about a lot more attention to the algo... If IIIIIII were to attempt to release a coin right now, I'd definitely make it Blake2b on the expectation of these SC1 ASICs. I figure I'd have at least a 1,000 miners looking for a coin like mine... especially if I could make it an auxiliary coin capable of merge mining.
I can't decide if I should order one or not. It worries me that only 1350 have presold.
cause ppl don't have faith in the coin....that is all
That doesn't really help my concerns at all. I like the coin, but the development team seems to have issues, will this coin even be around by July of next year?
I was told these miners will only do blake2b is it? Not blake2 coins?
So could blake2b coins be invented? Or is that impossible and I just looped
into making a siacoin doppelgänger instead, defeating the whole concept?
(Ouch, sprained my brain)
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