Non-IT News Thread
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You all should use extra computing cycles on BOINC for science instead of making fake, soon-to-be-illegal-or-taxed-at-ridiculous-rates money. Ive been doing this since 1998 when I got my first laptop for university.
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@momurda said in Non-IT News Thread:
You all should use extra computing cycles on BOINC for science instead of making fake, soon-to-be-illegal-or-taxed-at-ridiculous-rates money. Ive been doing this since 1998 when I got my first laptop for university.
Or I could mine free digital money and get out before it collapses.
N.B. - telling certain people what they "should do" can be very dangerous to your health. Careful with that statement.
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You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh. -
@momurda said in Non-IT News Thread:
You all should use extra computing cycles on BOINC for science instead of making fake, soon-to-be-illegal-or-taxed-at-ridiculous-rates money. Ive been doing this since 1998 when I got my first laptop for university.
Taxing a currency is a weird thing to do. Doesn't really work.
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@scottalanmiller Not directly, but youll be taxed when convert it to real money.
Also at current rate and difficulty, you need to be outputting thousands of GH/s to make BTC faster than the cost of electricity to make them. -
@momurda said in Non-IT News Thread:
@scottalanmiller Not directly, but youll be taxed when convert it to real money.
Also at current rate and difficulty, you need to be outputting thousands of GH/s to make BTC faster than the cost of electricity to make them.Unless you choose some other crypto currency... Oh wait, I'm supposed to be BOINCing for science, right???
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@momurda said in Non-IT News Thread:
@scottalanmiller Not directly, but youll be taxed when convert it to real money.
Also very hard to do as you'll just convert it to anything you want, then into "real" money.
Remember this is something that has existed since the country was founded and whole US communities live on alternative currencies and have for decades or more. The Ithaca Dollar, for example. Taxing currency transactions has never been accepted as an activity and would have impacts that are really, really broad.
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@momurda said in Non-IT News Thread:
Also at current rate and difficulty, you need to be outputting thousands of GH/s to make BTC faster than the cost of electricity to make them.
That's why I don't do it. It's generally a lost cause.
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@rojoloco Yes you should be.
But you can cash out BTC to whatever other fake currency you want. As soon as it is real money you pay your cut, either right then or on April 15. You can not do this, but eventually TaxMan notices, then he adds in all sorts of penalties and late fees. On top of the money you lost creating your fake money. -
@momurda said in Non-IT News Thread:
@rojoloco Yes you should be.
But you can cash out BTC to whatever other fake currency you want. As soon as it is real money you pay your cut, either right then or on April 15. You can not do this, but eventually TaxMan notices, then he adds in all sorts of penalties and late fees. On top of the money you lost creating your fake money.Just standard FOREX taxation.
https://www.investopedia.com/articles/forex/09/forex-taxation-basics.asp
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@momurda said in Non-IT News Thread:
@rojoloco Yes you should be.
But you can cash out BTC to whatever other fake currency you want. As soon as it is real money you pay your cut, either right then or on April 15. You can not do this, but eventually TaxMan notices, then he adds in all sorts of penalties and late fees. On top of the money you lost creating your fake money.Oh noes, will the taxman come get me over the taxes on what will equate to a pack of smokes worth of income??? I have many micro-income generating things going on, and none are taxable in the realistic, real world. But I'd BOINC for science if they agree to send me a carton of smokes, a bottle of liquor, or maybe a few grams of herbal medicine.
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Russia posts video game screenshot as 'proof' of US helping IS
http://www.bbc.co.uk/news/world-europe-41991012 -
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@black3dynamite said in Non-IT News Thread:
https://solus-project.com/2017/11/12/this-week-in-solus-install-48/
I love Solus, but their unique package manager is such a problem.
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@scottalanmiller said in Non-IT News Thread:
@black3dynamite said in Non-IT News Thread:
https://solus-project.com/2017/11/12/this-week-in-solus-install-48/
I love Solus, but their unique package manager is such a problem.
Isn't that the reason for them to adopt snap?
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@momurda said in Non-IT News Thread:
You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh.A lot of it depends on the crypto curency you are after. I've made $4 over roughly 2 week. in Litecoin just using the web browser. No, I won't get rich with it, but that puts a few bucks in my Paypal account for when Steam Sales roll around.
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@dafyre said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh.A lot of it depends on the crypto curency you are after. I've made $4 over roughly 2 week. in Litecoin just using the web browser. No, I won't get rich with it, but that puts a few bucks in my Paypal account for when Steam Sales roll around.
Is that net or gross? How much does it cost to run those machines?
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@coliver said in Non-IT News Thread:
@dafyre said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh.A lot of it depends on the crypto curency you are after. I've made $4 over roughly 2 week. in Litecoin just using the web browser. No, I won't get rich with it, but that puts a few bucks in my Paypal account for when Steam Sales roll around.
Is that net or gross? How much does it cost to run those machines?
I'm only into my first month of it. But these are machines that run all the time anyhow, so I don't expect my power bill to go up any.
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@dafyre said in Non-IT News Thread:
@coliver said in Non-IT News Thread:
@dafyre said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh.A lot of it depends on the crypto curency you are after. I've made $4 over roughly 2 week. in Litecoin just using the web browser. No, I won't get rich with it, but that puts a few bucks in my Paypal account for when Steam Sales roll around.
Is that net or gross? How much does it cost to run those machines?
I'm only into my first month of it. But these are machines that run all the time anyhow, so I don't expect my power bill to go up any.
Prepare for a shock then. Back when mining Bitcoin on a CPU+GPU still made sense I hooked my gaming desktop into a pool and mined for around 3 months. I ended up with 3 bitcoin, but also had a massive power bill each month. The gaming desktop was running flat out 100% all the time instead of sleeping. We're talking pulling a continuous 450 watts instead of 20 watts, you're power bill will feel it. Even if we're only talking about higher CPU usage, it takes more power.
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@travisdh1 said in Non-IT News Thread:
@dafyre said in Non-IT News Thread:
@coliver said in Non-IT News Thread:
@dafyre said in Non-IT News Thread:
@momurda said in Non-IT News Thread:
You cant really make money doing this unless you have a farm of gpus to do this stuff with. 2 ati/NVidia somethings aren't going to do squat by the time this is regulated to worthlessness.
Especially if you live somewhere where power is more than 8c/kwh.A lot of it depends on the crypto curency you are after. I've made $4 over roughly 2 week. in Litecoin just using the web browser. No, I won't get rich with it, but that puts a few bucks in my Paypal account for when Steam Sales roll around.
Is that net or gross? How much does it cost to run those machines?
I'm only into my first month of it. But these are machines that run all the time anyhow, so I don't expect my power bill to go up any.
Prepare for a shock then. Back when mining Bitcoin on a CPU+GPU still made sense I hooked my gaming desktop into a pool and mined for around 3 months. I ended up with 3 bitcoin, but also had a massive power bill each month. The gaming desktop was running flat out 100% all the time instead of sleeping. We're talking pulling a continuous 450 watts instead of 20 watts, you're power bill will feel it. Even if we're only talking about higher CPU usage, it takes more power.
I hope you kept those Bitcoins... I'm relatively certain that $18k is more than your power bill went up.
