Cryptocurrency Mining

Thor187 said:
Add php + telegram to mix and you have a glorious monitor.
Click to expand...
Which requires a second machine to perform the monitoring, but I'm interested. Do you have a working example you can share?

Sabre Wulf said:
You have a web service that listens for a ping from your miner. If no ping within x minutes, send alert to phone.
Click to expand...
As above

Thor187 said:
And you also have powershell check if nicehash is mining just incase some weird error happens and then miner is closed without affecting the PC
Click to expand...
Sounds like you have some cool monitoring tools/tips you're not sharing? :)
 
@thor187 you mentioned sars might want to start taxing gains on Bitcoin.

If so and they see it as a business then surely we can deduct or depreciate the cost of our rigs and electricity expenses against our normal income, unless sars ring-fences it.

I.E if they want o include it as income then we should be allowed a deduction. If they force you to include it in income.

But I agree first prize is no sars.
 
morkhans said:
Which requires a second machine to perform the monitoring, but I'm interested. Do you have a working example you can share?


As above


Sounds like you have some cool monitoring tools/tips you're not sharing? :)
Click to expand...
I don't want more people mining have you seen how the earnings has plummeted because everyone is now a miner

I feel sad for those with 1050s

I'll write a tutorial on how to monitor your rig and post my code.
 
alqassam said:
@thor187 you mentioned sars might want to start taxing gains on Bitcoin.

If so and they see it as a business then surely we can deduct or depreciate the cost of our rigs and electricity expenses against our normal income, unless sars ring-fences it.

I.E if they want o include it as income then we should be allowed a deduction. If they force you to include it in income.

But I agree first prize is no sars.
Click to expand...

You can't depreciate goods on your personal income tax. Only a business can depreciate an asset.
 
3lOH55A said:
You can't depreciate goods on your personal income tax. Only a business can depreciate an asset.
Click to expand...
If it is on the production of income you might be able to. As mining might be able to be an enterprise as a sole proprietor


It won't be a personal asset rather a business asset. Example if you renting out a property you can claim back the interest on the bond
 
New claymore running really well on nvidia cards.
c760825c1761e498bb9455c56b0183af.jpg
 
morkhans said:
Which requires a second machine to perform the monitoring, but I'm interested. Do you have a working example you can share?


As above
Click to expand...

Or you simply set up IIS on your miner to serve up a simple 'hello world' web page and use the free www.uptimerobot.com to alert you when it's down. Not sure how effective IIS is while the system is mining though. Perhaps have it poll every 10 minutes instead of the default. That will only work if your PC hangs rather than if the miner software glitches. For that, you can just write a small batch file to check if the miner process is running and if it's not, send out an alert using smtp.
 
Last edited:
Thor187 said:
Been discussed on PW numerous times.

First luno and Sars they do declare to Sars so when btc becomes legislative guess who Sars have a little waiting list on?

Second luno is an exchange meaning your coins ain't safe. They can be hacked and you can lose it all.

Here is a good post about wallets and how they work.

https://platinumwealth.co.za/forum/Thread-The-Bitcoin-thread?pid=2978#pid2978
Click to expand...

Noob here, so bear with me ...
Ok, so don't store / mine to exchange wallets like Luno?,
but can Luno still be used as the "gate" to get the BTC to ZAR into a local bank account, or are their easier ways direct from a HW or mobile wallet ??
 
COMPUTEK said:
Noob here, so bear with me ...
Ok, so don't store / mine to exchange wallets like Luno?,
but can Luno still be used as the "gate" to get the BTC to ZAR into a local bank account, or are their easier ways direct from a HW or mobile wallet ??
Click to expand...
That's it.

Use Luno only as the "gate". Just exchange what you you need nothing more.
 
Thor187 said:
That's it.

Use Luno only as the "gate". Just exchange what you you need nothing more.
Click to expand...

Aah ok, gotcha.
cool3.jpg

I don't think Im gonna throw money at hardware and start mining at this point of the game?
Think Im just gonna buy some coin and keep it in a wallet for some time ... hopefully it picks up in value in said time.

Edit: so is it then also better to buy thru Luno and then transfer to my holding wallet?
 
Last edited:
Wasn't the idea of a mining card that it was supposed to be cheaper than standard cards with video output?

Those prices are insane
 
wabbit16 said:
Wasn't the idea of a mining card that it was supposed to be cheaper than standard cards with video output?

Those prices are insane
Click to expand...

I am pretty sure the proper regular prices will be about half that, I am guessing they are the 1st to receive them in the country so they are charging a fortune. I can't seem to find any other suppliers with pricing.
 
dj2381 said:
Only use Luno when you want to cash out, and then like with any type of income pay your income tax on it, the key is to only use what you need and keep the rest of your coins in a wallet for the future. I just last week cashed some out for the very first time for some extra spending money, but I paid my taxes, rather safe than sorry, I still want to know the tax implications on a BTC/visa debit card if any.
Click to expand...

It will be interesting to see how SARS handles this in future, since their current policy is that cryptocurrencies are neither an asset nor a currency. In terms of cashing out on Luno, the tricky part would be whether it's considered income or a gain. If you just held bitcoins and they increased in rand value, at most you should be liable for CGT only.
 
You must log in or register to reply here.
Back
Top
Sign up to the MyBroadband newsletter
X