Forrest Gump 9 Posted February 1, 2018 Report Share Posted February 1, 2018 Entertain us all with how much invested when you “got in at $8600”. Everybody in here talks about investing money here n there and chirping up “riding it out” “dumping everything” and for some reason I just picture some dilberts on here spending $42 and thinking they’re the new wolf on wall street when they make an .08ct profit. Shiiiittt, you know the standard CR unit, $$tree fiddy$$ Quote Link to comment Share on other sites More sharing options...
STEVE-O Posted February 1, 2018 Report Share Posted February 1, 2018 dipped down to 8900 for a second today Quote Link to comment Share on other sites More sharing options...
smokin5s Posted February 2, 2018 Report Share Posted February 2, 2018 Im not really interested in the whole crypto coin deal but while im not using my two desktops ive got them mining. So far its looking like its pulling in $150 a month after considering the extra power consumption. ive got both cards down clocked a bit and since they are watercooled its not causing much extra wear on the cards. IIRC while mining the GPU is staying around 30-32c under full load which is not bad at all jesus dude, what cards do you have? mine idle at that temp Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted February 2, 2018 Report Share Posted February 2, 2018 $7604, apparently my patience is not good. May have to dig deeper and buy some more Quote Link to comment Share on other sites More sharing options...
BIGGU Posted February 2, 2018 Report Share Posted February 2, 2018 jesus dude, what cards do you have? mine idle at that temp My Main PC is an old Maxwell Titan X which mines like crap, Simracing PC is a 1080ti. Both Systems have a custom loop water cooling which is the biggest help. Main Pc has a dedicated 560mm rad in push/pull configuration. Sim pc has two 240mm thin radiators which are shared between the GPU and CPU. Sim setup, This is before it was filled with water but you get the point. This system was built for silent computing and GPU power to run 3x 1440P monitors at 144hz. [/url] Quote Link to comment Share on other sites More sharing options...
STEVE-O Posted February 2, 2018 Report Share Posted February 2, 2018 Damn they down this morning Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted February 2, 2018 Report Share Posted February 2, 2018 My Main PC is an old Maxwell Titan X which mines like crap, Simracing PC is a 1080ti. Both Systems have a custom loop water cooling which is the biggest help. Main Pc has a dedicated 560mm rad in push/pull configuration. Sim pc has two 240mm thin radiators which are shared between the GPU and CPU. Sim setup, This is before it was filled with water but you get the point. This system was built for silent computing and GPU power to run 3x 1440P monitors at 144hz. [/url] That’s one beautiful rig! What coin are you mining? Quote Link to comment Share on other sites More sharing options...
Forrest Gump 9 Posted February 2, 2018 Report Share Posted February 2, 2018 Bitcoin has spectacularly 'died' several times - 94% June-November 2011 from $32 to $2 because of MtGox hack - 36% June 2012 from $7 to $4 Linod hack - 79% April 2013 from $266 to $54. MTGox stopped trading - 87% from $1166 to $170 November 2013 to January 2015 - 49% Feb 2014 MTGox tanks - 40% September 2017 from $5000 to $2972 China ban - 55% January 2018 Bitcoin ban FUD. from $19000 to $7500 Quote Link to comment Share on other sites More sharing options...
99StockGT Posted February 2, 2018 Report Share Posted February 2, 2018 Entertain us all with how much invested when you “got in at $8600”. Everybody in here talks about investing money here n there and chirping up “riding it out” “dumping everything” and for some reason I just picture some dilberts on here spending $42 and thinking they’re the new wolf on wall street when they make an .08ct profit. I got in before the jump got out at $11,200 with more than 2 coins to rub together, made a handsome profit that put me in the crosshairs as soon as the IRS said hey... wait a second! Currently have the initial investment back where it was, some of the profit money is riding the waves while the rest is paying for my next engine build. Quote Link to comment Share on other sites More sharing options...
SloSVTruck Posted February 3, 2018 Report Share Posted February 3, 2018 I got in before the jump got out at $11,200 with more than 2 coins to rub together, made a handsome profit that put me in the crosshairs as soon as the IRS said hey... wait a second! Currently have the initial investment back where it was, some of the profit money is riding the waves while the rest is paying for my next engine build.Curious about this, what makes you bring the IRS thing up??? Because more than 20k was made via coinbase???? And they auto report it??? I've been curious as far as how people are dealing with tax things when it comes to this stuff..... Sent from my SM-G950U using Tapatalk Quote Link to comment Share on other sites More sharing options...
SloSVTruck Posted February 3, 2018 Report Share Posted February 3, 2018 My Main PC is an old Maxwell Titan X which mines like crap, Simracing PC is a 1080ti. Both Systems have a custom loop water cooling which is the biggest help. Main Pc has a dedicated 560mm rad in push/pull configuration. Sim pc has two 240mm thin radiators which are shared between the GPU and CPU. Sim setup, This is before it was filled with water but you get the point. This system was built for silent computing and GPU power to run 3x 1440P monitors at 144hz. [/url]Those are some beautiful rigs man, very amazing workmanship with routing and everything looks awesome!!! Sent from my SM-G950U using Tapatalk Quote Link to comment Share on other sites More sharing options...
greg1647545532 Posted February 3, 2018 Report Share Posted February 3, 2018 Curious about this, what makes you bring the IRS thing up??? Because more than 20k was made via coinbase???? And they auto report it??? I've been curious as far as how people are dealing with tax things when it comes to this stuff..... Sent from my SM-G950U using Tapatalk Any cash transaction over 10k gets reported to the IRS. That's a generic banking rule that coinbase has to follow. Everyone technically needs to pay taxes on crypto gains but if you withdraw over 10k you can't forget. Quote Link to comment Share on other sites More sharing options...
AngryBMW Posted February 3, 2018 Report Share Posted February 3, 2018 Any cash transaction over 10k gets reported to the IRS. That's a generic banking rule that coinbase has to follow. Everyone technically needs to pay taxes on crypto gains but if you withdraw over 10k you can't forget. Any transaction of $10,000 or more (cash/check deposit, transfer, withdrawal, currency exchange) will be reported to FinCEN by your bank with or without your knowledge. It is to track and prevent potential money laundering activity. Any CASH deposit, as you said, is automatically reported to the IRS. From my understanding, a wire or electronic transfer of funds of $10k or more is not reported to the IRS. I assume Coinbase isn't mailing you or your bank $10k in cash so it is most likely not being automatically reported to the IRS. -Marc Quote Link to comment Share on other sites More sharing options...
Draco-REX Posted February 3, 2018 Report Share Posted February 3, 2018 Kinda hoping this craze dies down before I'm ready to build a new PC. Video card prices are just stupid right now. Quote Link to comment Share on other sites More sharing options...
BIGGU Posted February 4, 2018 Report Share Posted February 4, 2018 That’s one beautiful rig! What coin are you mining? Ive just got it mining some vert coin since its super easy to get going. Quote Link to comment Share on other sites More sharing options...
BIGGU Posted February 4, 2018 Report Share Posted February 4, 2018 Kinda hoping this craze dies down before I'm ready to build a new PC. Video card prices are just stupid right now. FYI, If you build a PC at microcenter and buy a CPU and Motherboard they will drop the price of the GPU back to the original MSRP for you. Quote Link to comment Share on other sites More sharing options...
smokin5s Posted February 4, 2018 Report Share Posted February 4, 2018 FYI, If you build a PC at microcenter and buy a CPU and Motherboard they will drop the price of the GPU back to the original MSRP for you. Limit one per person and the kid with the pony tail (who mines as well) is a total dick about it. Quote Link to comment Share on other sites More sharing options...
99StockGT Posted February 5, 2018 Report Share Posted February 5, 2018 Any cash transaction over 10k gets reported to the IRS. That's a generic banking rule that coinbase has to follow. Everyone technically needs to pay taxes on crypto gains but if you withdraw over 10k you can't forget. This is absolutely true, but as long as the money isn't repatrioted you can avoid that conversation with the IRS typically. However with things like.. https://techcrunch.com/2017/11/29/coinbase-internal-revenue-service-taxation/ Coming out right after the surge we saw to the first breaking of the $10,000 ceiling it's only a matter of time until they are going after the records from everyone who enjoyed that 2 month feeding frenzy. Quote Link to comment Share on other sites More sharing options...
zeitgeist57 Posted February 5, 2018 Report Share Posted February 5, 2018 $7430 and falling. Quote Link to comment Share on other sites More sharing options...
Jewtoys Posted February 5, 2018 Author Report Share Posted February 5, 2018 $7430 and falling. Lovely Monday........... :no: Quote Link to comment Share on other sites More sharing options...
Rustlestiltskin Posted February 5, 2018 Report Share Posted February 5, 2018 http://www.reactiongifs.com/r/2012/12/titanic.gif Quote Link to comment Share on other sites More sharing options...
RC K9 Posted February 5, 2018 Report Share Posted February 5, 2018 Any transaction of $10,000 or more (cash/check deposit, transfer, withdrawal, currency exchange) will be reported to FinCEN by your bank with or without your knowledge. It is to track and prevent potential money laundering activity. Any CASH deposit, as you said, is automatically reported to the IRS. From my understanding, a wire or electronic transfer of funds of $10k or more is not reported to the IRS. I assume Coinbase isn't mailing you or your bank $10k in cash so it is most likely not being automatically reported to the IRS. -Marc So if I go deposit $1700 in cash into my checking account, the bank reports that to the IRS? Quote Link to comment Share on other sites More sharing options...
99StockGT Posted February 5, 2018 Report Share Posted February 5, 2018 So if I go deposit $1700 in cash into my checking account, the bank reports that to the IRS? No, not unless it's over $9999.99 Quote Link to comment Share on other sites More sharing options...
Jewtoys Posted February 5, 2018 Author Report Share Posted February 5, 2018 So if I go deposit $1700 in cash into my checking account, the bank reports that to the IRS? You've never deposited or taken 10k out of a bank? They always make you fill out that form. Quote Link to comment Share on other sites More sharing options...
greg1647545532 Posted February 5, 2018 Report Share Posted February 5, 2018 You've never deposited or taken 10k out of a bank? They always make you fill out that form. I know, it's such a pain. I'm always like, "Look, I need to buy this crate of magnum condoms to keep on my yacht for all the super models coming to my party this weekend, just give me my money." Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.