Mining on your primary use machine? Who does it?

vegeta535

Supreme [H]ardness
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Jul 19, 2013
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I don’t know if Nicehash reports anything to the IRS. They aren’t US based, but that doesn’t mean they or others don’t. That’s one reason why I think it’s not worth it to try to hide it. Bitcoin is not anonymous. It’s difficult to trace but it’s not impossible. The open ledger records EVERY transaction and balance. IP history is a thing, and after a few transactions it’s generally regarded that your account info could be start being linked to an owner. Most of the exchanges that have KYC (know your customer) have to report to the IRS.

alternatives to reporting your cryoto earnings would be spending it on gift cards, look at gyft. Selling it on the forum, or exchanging for goods. Many places take crypto and BTC as payment. Newegg. Microsoft, etc. if you want to convert it to USD on an exchange without tax implications you’ll have to pick a non US based exchange that doesn’t have KYC and then use VPN, and anonymous e-mails and such. That’s a lot of hassle, and then the exchanges are less safe IMO.

I file my taxes with crypto as “hobby mining”. I have to list mining dispersements as additional income, and pay taxes on it as regular income. When I sell it, if it’s been longer than 1 year, then I will have to pay long term capital gains on it, which is 10% currently. (Just like stocks).

I think the US taxes are rubbish and unfair — especially in the crypto space. Not like the US government does ANYTHING to benefit you with cryoto. If I had a Bitcoin stolen and told the police or government they’d tell me to go pound sand — so not sure why they get to tax it — But you’ll have to find your own way here and weigh the risks of reporting or not. Dont try to claim expenses as a mining business as a all time operation because your taxes get way more complicated, you’ll have to pay self-employment tax and social security tax and all that nonsense. If you want to claim expenses, in my opinion, you’d best be mining as an occupation. I’m no tax lawyer though and the usual disclaimers apply.
So since coinbase reports they will send you something like everyone else does?
 

Archaea

[H]F Junkie
Joined
Oct 19, 2004
Messages
11,278
So since coinbase reports they will send you something like everyone else does?
Coinbase has a way to self report. In previous years they’ve only actively reported people with over a set amount of transaction value ($10k or $20K whatever).

but bear in mind it’s all open ledger and the history NEVER goes away. In 15 years when the IRS is better at auditing the space who knows what’ll happen.

there used to be things like shapeshifter that charged a small fee to help you anonymize your BTC. I’m not in that particular arena of need so that’s about all I know.

https://www.coinbase.com/learn/tips-and-tutorials/crypto-and-bitcoin-taxes-US
 

oldmanbal

2[H]4U
Joined
Aug 27, 2010
Messages
2,547
I have a question for everyone. i mine here and there on my 3090, and i usually get 110-113 mh/s with the power limits in place for the past month, but today, I booted up dagger and I'm hitting 140+mh/s avg with all the same settings, and it hasn't budged an inch in an hour. Did something change that I'm not aware of? It's like another 30mh/s completely out of the blue.
Efficiency getting close to 500 kH/J - which is absurd for what i'm used to seeing.

Memory hot spot is still peaking in the mid 90c range, and as far as I can tell, it's just another 30mh/s out of nowhere.
 

vegeta535

Supreme [H]ardness
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Jul 19, 2013
Messages
6,568
I have a question for everyone. i mine here and there on my 3090, and i usually get 110-113 mh/s with the power limits in place for the past month, but today, I booted up dagger and I'm hitting 140+mh/s avg with all the same settings, and it hasn't budged an inch in an hour. Did something change that I'm not aware of? It's like another 30mh/s completely out of the blue.
Efficiency getting close to 500 kH/J - which is absurd for what i'm used to seeing.

Memory hot spot is still peaking in the mid 90c range, and as far as I can tell, it's just another 30mh/s out of nowhere.
Running NH? The site is having maintenance atm so it might have something to do with it. I been at the same MH/s this morning. I can't check atm since I am at work.

Edit:
Just came back up. While my MS/s is showing the same my profitability is double. So something goofy is going on.
 
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oldmanbal

2[H]4U
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Aug 27, 2010
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Running NH? The site is having maintenance atm so it might have something to do with it. I been at the same MH/s this morning. I can't check atm since I am at work.
Yeah, I'm just reporting what I see in excavator running dagger which is accurate as far as I'm aware ?_?

Here's an example -

140MHS.png


usually the speed would be 110-113, same power, and way less efficiency
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
18,782
Got my laptop with a 1060 mining now. I underclocked the video a bit to keep hest lower and have a little fan blowing on it. Even underclocked its doing ok.

Up to like 6 to 7 bucks a day between both machines.

If i can just get a 3070 or 3080 or something now.
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,060
I have not mined on my primary use machine traditionally, and am generally against doing so due to concerns about closed code we can't see - virus/malware etc.

I have a dedicated mining machine (only crypto mining, local login account, no important passwords EVER used, etc), and a primary use machine (banking/crypto wallets/general use etc)

Lately I've been physically moving my 3080 gaming card back and forth from my primary machine to my mining machine once a day or so to play CyberPunk. Since the card makes close to $10 a day I want it working when I'm not gaming. Obviously I'd rather not do this...
Does anyone have a single pieced of software/algorithm they trust and have a positive history with? I was considering installing TREX Eth Miner on my primary use machine and just mining ETH to MPH, but decided not to when I was reading through their GitHub documentation and it said we advise not installing mining software on your primary use machine. I mean, even the first party TREX maintainer states that.

I could use Excavator, but it can only mine to NiceHash pools - which is okay I guess, but I'd prefer to mine to MPH.

At the end of the day. One cards gains are NOT worth risking ID theft, crypto wallet stolen etc...

Thoughts? Comfort level?

Get a hardware wallet and don't store coins on your PC. Also, there are open source mining programs you can use if that's a concern. I don't believe they're the fastest, but they're pretty close last I checked. I set my mining program on my main PC to autostart when the PC runs in a lower power setting. This way the PC is still totally usable for browsing, office work, and youtube videos, but I don't have to manually start it. That helps with me forgetting to start it up sometimes. At night I switch it over to use both the GPU at 100%. If I forget, at least it's still running the lower intensity program and making me about 80-90% of my max.

Also, I would consider setting a hiveos/raveos/linux USB or SSD to your primary boot and to boot the PC up after a restore from power loss, so that if you're away on vacation or something the computer can still mine 100% of the time without any intervention.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
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Got my laptop with a 1060 mining now. I underclocked the video a bit to keep hest lower and have a little fan blowing on it. Even underclocked its doing ok.

Up to like 6 to 7 bucks a day between both machines.

If i can just get a 3070 or 3080 or something now.

Yea i went kinda nuts but 30 bucks every 5 days seems good. Have another 1080 on the way. Dont care about the electric costs.

Now im torn if i should put the base 1080 in my gaming pc and used the 1080ti for full time mining.

I want to get back into games but dont want to kill my mining

Too bad cpu mining is silly bad. I may use my unused media pc as a cpu miner but a 3200g isnt going to do much.
 

Andrew_Carr

2[H]4U
Joined
Feb 26, 2005
Messages
2,060
Yea i went kinda nuts but 30 bucks every 5 days seems good. Have another 1080 on the way. Dont care about the electric costs.

Now im torn if i should put the base 1080 in my gaming pc and used the 1080ti for full time mining.

I want to get back into games but dont want to kill my mining

Too bad cpu mining is silly bad. I may use my unused media pc as a cpu miner but a 3200g isnt going to do much.

It's not a huge difference between a 1080 and 1080TI for mining. About a 6-10MH/s difference for me, so about $16-30 difference a month.

Also, CPU mining isn't big bucks, but it can add up. Mine monero and you might get an extra $10-15 extra per computer per month.
 

Bigbacon

Fully [H]
Joined
Jul 12, 2007
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It's not a huge difference between a 1080 and 1080TI for mining. About a 6-10MH/s difference for me, so about $16-30 difference a month.

Also, CPU mining isn't big bucks, but it can add up. Mine monero and you might get an extra $10-15 extra per computer per month.

I have an old work laptop mining monero. Thing it does 10 cents a day. My main pc crashes if i try to cpu mine. The othet two cpus cant even do it.

Yes, i have cards mining in old dual and tri core amds.
 

Zepher

[H]ipster Replacement
Joined
Sep 29, 2001
Messages
18,465
I am up to $261 after 28 days. Not too bad.
I didn't game at all for 3 weeks on this machine but last week I started playing again for 2-3 hours, so I probably lost 80 cents or so each day I gamed.

IMG_1229.PNG
 

dunkleself

n00b
Joined
Dec 9, 2011
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3

Bigbacon

Fully [H]
Joined
Jul 12, 2007
Messages
18,782
I am using NiceHash Quick Miner with a 1080 Ti - initially I was getting about 32 MH/s, but I am now getting 38 MH/s (dips to 36 MH/s but usually finds it way back to 38 MH/s). The only changes I have made was the optimisation from Lite to Efficient.

https://www.nicehash.com/blog/post/nicehash-quickminer-optimize-your-gpu-with-one-click

View attachment 350014
View attachment 350015


With the new quick miner and set to extreme it pushes like 46 now.

Trying to find tune on the 1080 i have now. It doesnt like the QM high memory timings.
 
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