jeffms2003 wrote: So there is no difference between selecting BTC and USD
with the slight exception that your earnings are converted to USD (if you select that option)at the moment they sell them on the exchangeand you therefore receive the USD value at that point.. waiting for BTC to go to Coinbase and you to sell it, the USD price may fluctuate a bit.
I can’t get the hang of this chat - apologies - the accountant (UK) has suggested forwarding any HODLs to a personal wallet so that the business is not responsible for capital gains, only personal CGs. Hope that that is useful.
For U.S. dollars we store payouts in Bitcoins before sending the Bitcoins to Coinbase to convert to dollars, the value of your dollar holdings will fluctuate with the BTC/USD exchange rate before we send the bitcoins to Coinbase for sale. It is possible that if the BTC/USD exchange rate fluctuates between the time you view your account and the time coins are sent to Coinbase, your Coinbase account could receive more or fewer dollars that were estimated.
jeffms2003 wrote: When I export payments, why do US Dollar payouts show as BTC? In trying to keep up with revenue for tax purposes it will show as BTC and trigger capital gains calcs when it is really USD, correct?
You don’t earn cash here - you earn coin. Country regs are different - and I’m speaking to a tax adviser in the UK. As a business, I think you will face a number of levels of computation to determine your company profitability - the investment in miners is a capital expenditure (one hopes), running costs, etc. As for the income, I think you need to look at the value fluctiuations from the time you actually receive the coin on Coinbase to the time it is sold - this will diverge from the indicative $ amount displayed on the Prohashing screen. I believe that there is a time element associated with capital gains of assets, but I don’t know enough about the US law since I no longer have to worry about world wide income levels (no offshoring profits for US citizens)
cloaker wrote: i rarely solo mine but my m3’s were finding sha blocks daily.....digibyte every 3-4 days etc....all that is gone- i find a rare shit coin block for sha and plents all day every day for scrypt
I tried solo mining digi on L3s, S9 and t9 and came up with nothing because of the drop on the return - I put that down to sheer hashpower at the current difficulty level. I have hit my first Digibyte not solo mining - which is the best luck I’ve had here the whole time. Long winded way of saying I don’t know what has changed, but something has. As long as the sh$t coins are paying the highest returns and improves daily earnings, I’m happy. I just want to max out earnings in my target coin. I believe I’m finding more blocks, but I don’t know to what is responsible.
so listen to what he saying steve you got the same access to data we do - we arent finding blocks with sha like we were and if you want to look at my block explorer in my Cp do it- your dead wrong on the end result, i dont follow wth 1% gain over btc even means as it relates to finding blocks
i always ran 3 miners until the difficulty changedc so i added a 4th i had ready so my profits would not see a hit but ill be damned if Determined hasn’t hit on an observation the rest of us are seeing as well and thats the lack of found blocks all of the sudden
BTC or USD aren’t capital gains alone. I don’t see how my USD payouts could be held in BTC due to price fluctuations. Maybe the USD payouts are initiated as BTC and instantly converted to USD and then will be transferred to CB as USD? When you have a mining business you have your initial amount earned daily which is revenue and then when you sell a coin you then either have a capital gain or loss.
@Raptor1 : that’s some serious tonnage there. good to know that that would do it though. @mycide : did you turn the frequency down on the D3’s? Bitmain recommended reducing it. i forget what the frequency they recommended to reduce it to, but you would get about 17 GH/s. mine seemed to run better before i shut them down due to lack of profitability.
A/C= Trane 7.5 tons packaged unit exclusively used for mining room. I agree with your statements re L3 & S9 temps. Your max ambient is 34C v/s mine of 43C. You could drop 3-4C by blowing air 36” away from air intake (I used box fans 4,150 cfm ea) Could not use evaporative cooling (high relative humidity). This project was a proof of concept. Now building up a portable insulated 13’ container to house 96 ASICs with A/C And also building portable insulated 13’ container to house up to 192 ASICs without A/C to be located in a part of the country where max summer temp does not exceed 31C / 88F
@Raptor1 : holy crap! what tonnage is your AC unit? i am moving roughly the same amount of air here but no way do i think my house air conditioner would be able tocool that much air continously. my L3’s will run below 70C with a max ambient air temp of 85 fahrenheit. my S9’s will not run in that heat. however, if i turn the frequency down, i can pretty much run them in any temp. the hottest it has gotten here is about 93 Fahrenheit.
My outdoor (fresh air) temp is 41C and that is the intake temp of the ASICs. Without cooling, chip temps on an L3 was in the 85C++on D3s (95C –shut them down) S9s = 90C. Fans always on @100 % Was having board failures (XXXXXXXX). The INTAKE temp of the fan (not chip Temp) is now down to 23C instead of 41C. All ASICs running from 57-78C (depending on algo) Now I have zero failures been running with cooling for 2 weeks & also outdoor temp in shade peaked at 43C for a couple of days. No other option to cooling – tried massive airflow across the boards- it did help by bring down chip temps by about 4C but 41C ambient is way too high to be able to cool the chips. Will have to pay the 16% extra power cost to continue mining in summer. The cool bay is completely isolated from the hot bay
Raptor1 wrote: With outdoor fresh air temp of 41C, achieved ASIC intake temp of 23C using ducted air-conditioning. Moving 12,500 cfm of fresh air. Cooling & Air circulation increased power cost by 16.5%
On Bitmains I just set the fan to be 100% on all the time. I stay well under 70'C, show no issues, and do not pay 16% more electric for the same hashing power. So you got the miner to go down to 23'C...does it provide any more hashrate for the money spent to cool it? If it gets the same hashrate at 70'C as it does at 23'C why waste money to cool it for no gains?
Yeah - got my 1st Digibyte block - the miner says 2 blocks found in 25 minutes, but I assume the 2nd is not real. ANd no, it’s not solo mining Digibyte - I did the calculations and reckon I could pay for more than the block reward by specifying it as the payout coin.
alim wrote: Setting scantime to 1 second as Prohashing recommends .....When I first started 2 of my miners were classed as "not lucky" and didn’t earn at all until after some testing with Steve. Even now, they routinely drop to less than 75% of miner hashrate which can’t be solely attributed to work submissions (eg 100MH or 2THs less than the miner). Part of that is expected with higher difficulty, but mine are often connected for more than 2 minutes, and increases the likelihood that it will be stale.
They recommend that for BFG MINERS, NOT CGMINERS. Unless you are using a KNC TITAN from 5 years ago, likely does not apply if using bitmain asics that utilize STRATUM protocol implemented correctly. No settings would change the badluck. Your miners say 715MH but how many errors are they throwing that the overclocked units would hit only 75%? 2 minutes...you need closer to 2 hours to get accurate readings. You cant hash 2 minutes and get accurate readings.
@CSZiggy Hi - thanks for that. Setting scantime to 1 second as Prohashing recommends seems to help reduce the number of stale shares (routinely up to 40%) - When I first started 2 of my miners were classed as "not lucky" and didn’t earn at all until after some testing with Steve. Even now, they routinely drop to less than 75% of miner hashrate which can’t be solely attributed to work submissions (eg 100MH or 2THs less than the miner). Part of that is expected with higher difficulty, but mine are often connected for more than 2 minutes, and increases the likelihood that it will be stale.
alim wrote: now that the problems have been resolved, I’m only using the scantime setting as suggested.
Scantime was for BFGminers, not CGminers like bitmains. Are your restarts less than 1 second? Are you wasting resources asking to scan 2X as many as the rest of the pool miners to end up with the same restart times?
@cloaker thanks for your words of wisdom - my miners were definitely underperforming here - now that the problems have been resolved, I’m only using the scantime setting as suggested. Again, thanks - I’m glad to hear that others have not had the issues I’ve had.
have you ever mined under the auspice if it’s not broke con’t fix it? your messing with settings during specific periods the pool here was having intermittent problems. that is going in the opposite direction - you would be surprised how less is more with these miners