I don't see the point to mining with anything cloud or otherwise since it is a loss. Sell your miners and hold BTC till you get the price you think you feel comfortable cashing out is probably the best solution.
Only if you are looking to write off losses to offset other tax burdens elsewhere would mining be something worth looking at or if you had access to Petahash and the power to run it without cost. Say something like a solar, wind, wave, hydro or biogas farm coupled with mining. The end of home or small scale mining is now. The end of B2B sales to those who would farm is coming and the what will be left are large companies as we see them gobble up power and the percentage of the network. There is no safe haven now for mining. Another sustained crash of something like a sub 50$ in BTC price will pretty much wipe out every weak cloud hashing or mining farm. What will be left are those entities with low power costs or with the ability to shut down large parts of their network without too much overhead.
My situation is I'm a legal miner (bank error forced to file see thread below so as not to go off topic....do the poll also if you'd like)
https://bitcointalksearch.org/topic/m.10585422So essentially I've been a mining like heck and due to the circumstances of the above thread ..with little choice have managed or will manage
to pull it off for 3 years with equip deprecation and home biz etc and will likely pay NO TAXES to IRS thru 2015 when my last miner poops out (knc Titan)
THE CATCH
is if home mining equip is dead...for usefulness with perhaps cloud mining the same soon......then I will have in 2016 (2.5k or so equip depreciation off of mining I could use) and 2017 (maybe 1K left of the same)
so if no home miners and I doubt cloud mining (see my tag line below) applies ..how to get the rest of my equip depreciation kudos for these last 2 years
round this all out to keep the IRS happy? need an option to home miners that makes sense and can kinda sorta make some coin don't ya know
of my 5 year biz plan ...as a legal usa miner (2013 IRS virtual currency guidelines)
so the point is (further details in above thread link off topic)
1) IS THERE any very small data hall type arrangement of a more robust manner then cloud hosting..ie some small share/part owner of small pooled data farm that people
could recomend? again not cloud mining.....i really don't think that would fly..i mean like 10 guys renting something and pooling equipment kinda thing
to get around the home miners going bye bye?
If there are ....anyone here got some that are legit? or they run? or they use? etc
2) same as above but more of a co-op non profit arrangement ( like farmers would use to get/pool equipment under same kind of showing of equip to 'crop
so to speak' revenue stream...ie IRS wants 25% of what I mine (less equip deprecation and other biz expenses) this is also true of a farm co-op arrangement
again catch is if i want to show revenue (mining or as an example farmer) then mining (crops) has to make some kinda sense.....or why farm/mine or buy
the tractor/miner etc you get the analogy....has to make 'some' sense even if at some loss in long term
3) perhaps frigging cloud hosting qualifies (see my tag line) i sorta doubt it .....IRS audit and you point to a web page....? virtual cloud miner? probably not
anyway just here to point out that some of us (thru no fault of our own) kinda had to want to or forced to be legal miners in USA so to expand this beyond the
home miner drought of equipment in the future...are there any small co-op / data hall arrangements of equip that may make sense in the future (2016/17 in my case)
that are getting off the ground to fill in this void of the home miners going bye bye
this thread may want to review such 'real' equip situations co-op or otherwise as a stop gap or bridge away from home mining equip (now that esp scrypt seem to be toast)
anyway just my thoughts I used to run a large bbs game server back in the day....it was a lot more fun with 5 guys involved making the bbs 5x bigger then it was
just running a puny game server /bbs by your lonesome...that also was a biz.....same kinda logic....
and again (see my cloud hosting tagline) imho cloud hosting per say ...will probably not cut this ...(but i could be wrong)
anyway if this is off topic feel free to kill this post...but if home miners are going kaput here soon this seems the only small scale option left small group equip
arrangement of a data hall /bldg or co-op
looking for some legit options with the above in mind....supposedly there have to be small players of this of some note and reputation that would apply to this thread
thanks for reading the above mess and feel free to kill this post if it is too far off the home miner topic of review