Techniques for tracking mining ROI | Bitcointalksearch.org

firejuan

sr. member

Activity: 256

Merit: 250

Because it's sterile...

Not a tax expert, but some of beatljuice's list could possibly used as tax information for US miners since mining income is considered a type of self employment so now you can keep up with ROI and HOPEFULLY get some tax breaks.

Quote from: windpath on April 07, 2014, 11:19:32 AM

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

Quote from: beatljuice on April 07, 2014, 12:08:25 PM

Spreadsheet.

Cost of equipment
Electricity (Don't forget cooling and lighting)
Repairs
Re-investment
Current value of equipment (depreciation is fast on mining equipment)
Time (most people don't keep track of this, but at least keep it in mind)
Snacks/entertainment (Do you have a subscription to Pandora you listen to while working? Need energy drinks to stay awake?)
Mileage (Had to hit Fry's for a power supply?)
Space used (Renting to your business is a good money maker/write off)
Internet access and equipment

It can be kind of fun, and I'm sure I'm missing things.

cloverme

legendary

Activity: 1512

Merit: 1057

SpacePirate.io

Quote from: windpath on April 07, 2014, 11:19:32 AM

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

Started out with a spreadsheet then made a custom app written in C# that provides some minimal forecasting.

beatljuice

full member

Activity: 196

Merit: 100

Spreadsheet.

Cost of equipment
Electricity (Don't forget cooling and lighting)
Repairs
Re-investment
Current value of equipment (depreciation is fast on mining equipment)
Time (most people don't keep track of this, but at least keep it in mind)
Snacks/entertainment (Do you have a subscription to Pandora you listen to while working? Need energy drinks to stay awake?)
Mileage (Had to hit Fry's for a power supply?)
Space used (Renting to your business is a good money maker/write off)
Internet access and equipment

It can be kind of fun, and I'm sure I'm missing things.

precrime3

member

Activity: 84

Merit: 10

PM for journalist,typing,and data entry services.

Quote from: windpath on April 07, 2014, 11:19:32 AM

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

keeping a log? There is no automatic system, is that whats your after. its not that hard to say "okay I earned this much on this day" and just add them together.

windpath

legendary

Activity: 1258

Merit: 1027

I'd love to hear how various miners track their ROI, what systems you have developed, how you keep track, etc...

Topic: Techniques for tracking mining ROI (Read 903 times)