I'm sure you can understand that it's not my place to comment on what Nicehash's business model is; I suggest that you ask them for clarification about how they will be handling their paperwork.AppleMiner wrote:Steve Sokolowski wrote:Here is something which may be helpful to customers who are working on taxes. We may make a sticky notice of this in the future.
Our view is that mining pools rent computer systems from customers and pay customers for the usage time of those systems.
......This is the total value that we paid customers in exchange for the computer systems they are renting to us.
So for my apartment....I RENT from my landlord. That makes me the rentER...and him the rentEE.
The landlord is the one providing the service, and as the renter I am the one taking him up on that service as a customer.
So from your definition of mining pools renting systems....does that make you our customers and US the ones providing the service? I thought the service provider was the one that offered the service and the customer was the one who decided if they wanted to partake in that service.
The way that is phrased I am read that as the POOL is renting OUR machines. That means WE are providing the service. I dont have any licenses to operate any such service in my state. Do I need to charge you taxes for using my service?
I think it should be...the mining pools provide a service that allows customers to exchange hashing power for coin payouts for a fee.
I've never been contacted by any of the pools about renting my hashing power. I used to go to nicehash all on my own.
Is the pool setting itself up as a service or as customer? Im a bit confused from those statements.
Could you rephrase or explain that a bit better please.
As to our own model, I think it's pretty clear that when customers connect to our pool, they are allowing us to use their systems to find blocks until they disconnect. When something (like an apartment) is used for a short period of time, and ownership is not permanently transferred, it is a rental.
While we can't provide advice as to what licenses you need to obtain where you live, I personally am not aware of any jurisdiction that requires licenses to rent mining equipment. You might want to investigate that issue further before concluding definitively that a license is required.