Read-only forum archive. PROHASHING has closed. Posting, registration, and account access are unavailable. Preserved from the April 3, 2026 server backup.
jasonddennis wrote: submitted a support ticket, waiting on a verge payout. any idea what could have held it up? says mature, credited.
I looked at that ticket and found that the block just confirmed, so it will become eligible for payout tonight at midnight EDT and will execute sometime during the next day
sincere profitability doubts here, for sha256, measured turn out - normalized in USD for sha256 mining over the past 1 1/2 week consistently came in just under what nicehash makes (20 S9 miners, so not just a single unit variance), compared to the bitcoin.com being consistently 5% higher; so it seems the 5% fee on this pool for the most part defeats any significant profit advantage over the others, and leaves the "any coin payout" as remaining motivation. Any seconds ?
I had hoped for the coin-switching proving a tangible higher turn-out but seems to get "lost in translation" (5% fees (and pool risk retainer) for the convenience of "any coin payout")
what most of us have noted for months and months now. If you want highest payout, its not here, if you want to have payouts converted to another coin and YOU dont want to pay the transfer tax, let the pool pay you in the coins you want.
I'm still at a loss on how the pool can mine coins, and list them as the price they sell them for, with no receipt, and not having paid income tax on the mined coins. No capital gains taxes due from coin sells to convert payouts to other coins just seems fishy to me.
Doesn't matter what you do to the money after its sold, at the time of sale there is tax due, they claim they aren't paying it, so i asked if we are and was told no one pays it, again seems fishy.
coin exchange / transfer tax as such has become less and lesser of an issue with since ever more exchanges have come online, incl. one-click "shapeshifting". and the benefit of a near-realtime coin-switching algrorithm which is at the core of this pools differentiating value proposition seems to be defeated outright.
sha256 seems to at least hold up on par (sort a), while scrypt and x11 seem to compete daily for last in contest. sadly. miningpoolhub taking the cake for profitswitching AND auto-exchange, nicehash for above average reliability AND free-of charge btc coinbase transfer (not even a btc network means nicehash online wallets likely are multi-signature wallets at coinbase in the first place). Add to it that prohashings universal port for all algos actually makes real-time profitability data capture per algo / worker impossible .. defeats a great US based, hardworking teams effort ..
with all due respect, and the teams frequent public articles and cases for change and high standards amongst the wider crypto community, I would hope for some critical self-evaluation of these developments, to hopefully secure the business (model) for the time to come.
CSZiggy wrote: Doesn’t matter what you do to the money after its sold, at the time of sale there is tax due, they claim they aren’t paying it, so i asked if we are and was told no one pays it, again seems fishy.
you are correct here. it used to be that cryptos were treated as ’property’ under the tax guidelines. which meant like kind exchanges were not necessarily taxible. however, with the tax reform that was passed this year, now any time there s a transaction, it is a taxable event.
CSZiggy wrote: Doesn’t matter what you do to the money after its sold, at the time of sale there is tax due, they claim they aren’t paying it, so i asked if we are and was told no one pays it, again seems fishy.
you are correct here. it used to be that cryptos were treated as ’property’ under the tax guidelines. which meant like kind exchanges were not necessarily taxible. however, with the tax reform that was passed this year, now any time there s a transaction, it is a taxable event.
https://www.coindesk.com/owe-irs-crypto-crypto-trades/ check out the section on Like-kind exchange exception.
...... Buried deep in the massive tax bill enacted at the end of 2017 was a provision that limits like-kind exchanges to real estate transactions, effective after December 31, 2017. As a result, there seems to be zero ability for crypto traders to claim that their coin trades undertaken after 2017 qualify as Section 1031 like-kind exchanges.
jwillson wrote: I am trying to get started here.. I have loaded CGMINER, and it shows as being connected to PROHASHING, but it keeps telling me there are no shares.
is it possible that you’re using a GPU, and therefore the difficulty is so high that you’re unlikely to find any shares?