I don't know about that. What good does it do to get into XMR now if you're already holding non-privacy crypto that the IRS can trace to you?
The safe/easy play is to keep track of your accounting and make sure your realized gains are long-term. Also, if the exchange has your personal Tax ID assume they'll report your ass especially if they're like Gemini and have their hands in a cointax app cookie jar.
As always when people set up mining with basic equipment i'm going to ask, how much of a profit do you expect to make? I just don't view mining as viable for normal people due to electrical costs. Even if you make a profit, you don't really break even until you can afford to replace the hardware that will be used up imo. Wouldn't it be more profitable to just sell the laptop?
I could sell my gaming laptop (I got it about 6 months ago) for more but I may as well get some extra cash on the side while I’m not using it. It’s the same reason I use Brave. May as well scrounge up a little bit of extra change here and there. With Brave I get change for doing what I normally do on the web. With mining I make a tiny bit after electrical costs while I’m not using my personal computers (which happens to be most of the day). I’m not trying to live off it or get rich with it. I suspect a lot of people have sky high expectations but I’m ok just making a tiny bit here and there and just hodling it away like a coin jar or piggie bank.
Brav BAT isn't really increasing the electricity bill or wearing down hardware. If I were going to mine, it would only be winter to save on heating. I doubt it works out cheaper to jsut heat a house regularly as opposed to mining, and you were going to use energy to heat the home anyway. But just mining, nah. But if it works for you thats fine.
Makes sense to me. I can see where you’re coming from with that about the wear and tear. It’s a similar critique I’ve heard about Uber which can add up the mileage on one’s car, especially in less urban areas. Imo a lot of people have unrealistic expectations. Also I’d argue the price for mining equipment is inflated because of the current hype surrounding Bitcoin.
Well, most houses are not heated with electric resistance heating (which is what a red-hot CPU amounts to) because it's less efficient. But unless you're really going ape with the whole mining thing, it's not going to make that much of a difference either way.
That's pretty much what I mean by "harder", you can't directly buy it on normie apps with fiat money. It may only be one extra step but it's enough to deter most people.
I know nothing about Minergate, but I can tell you that mining from your phone is a complete waste of time. It'd take centuries to gather enough crumbs to actually get a payout from a pool.
Crypto these days seems to be less about utility (moving money without glowies knowing) and more about tulip speculation
Sounds like they are selling shovels
That's what pisses me off. I don't want shit to "moon".. I want a decentralized, censorship-resistent payment network.
I don’t mind some stuff increasing in value or having other use cases than censorship resistance, but I would prefer that other coins-like monero- to not skyrocket because of speculation. Imo a lot of altcoins are in a bubble and there isn’t room for all of them, especially if they’re trying to replace Ethereum.
Monero is primarily mined on CPUs, so you can run any GPU-mined coin (such as Ethereum) at the same time without them interfering with each other.
Monero is GPU mined too nowdays. The only time it's CPU mined is when it's other peoples computers like a botnet.
Since when? It's specifically designed to discourage that.
