Well LTC difficulty just changed....from July 1st to today July 20th CST
the difficulty has risen 38.5% so far this month...this is gonna be ugly...
Bitmain L3+ Toaster City for July 2017
Just don't sell all your LTC mined, wait for 100 usd at the end of year
Yeah...just what I need 100 buck LTC to really drive me crazy on what to do these last 5 months!!!!! Hoard or get enough eguip to get out from under from the nice Tax man
I"m really, really trying to BUT....when you ROI on everything equip wise...in TWO frigging months....and the LTC price goes from 4.15c per LTC to as high as $56 per LTC
as you mine LTC income for the year...
The nice IRS man wants my $$$ now..thus I can get a 'crap load of equip' and pay no taxes (using LTC sigh) or I can just pay the IRS 50% of
the equip I would have gotten ...(yeah....I made that much money on paper anyway) and they get 1/2 my hoard and I hold the other half in crypto.
be careful what you wish for...now kinda scratching my head...double down on equip and pay NOTHING to IRS or pay the nice IRS people (in case they are watching)
and with state taxes...fed taxes and the good old self-employment tax for soc sec and Medicare of 12.3%...over 50% goes to IRS and I keep the other half
(at least from this June onward on income)
My thinking is ..screw it ...I have a decent BTC hoard..perhaps I should just shoot the works on equip and owe NO taxes and punt and hope
the equip I mine next year (at a much lower tax rate likely) will come thru...and I can pull off this mining merry go round again...
fun times....so hold and take it like a man from the IRS (I mean really IRS if I'm gonna get screwed a little dinner...some soft music a bit of dancing first?)
or
Double down and go equip crazy and try this whole merry go round next year....( I mean was not my 2014 knc Titan's supposed to be Doorstops by now?)
I'm sure I'm not the only one on here going ...whoa! two month ROI may have been a BIT much ..Ya think?
All that pretty equipment....tempting me to try to pull this off again next year....
of course whatever I choose
That is a 'given' I always choose the 'trap' in 20/20 hindsight
Anyway, gonna be damn hard to do both 'hoard' and 'get enough equip to owe no taxes this year'
fun times
silly hobby