I can’t justify crypto for miners anymore 3 months later…and with bitmain it is dubious if you got them on a price pump…supposed firmware update in july kept all L3+'s for 6 weeks mined my units…drove difficulty up 1/3 then when arrived my firmware said Jan 2017! Thus if they did it because of the up to 50 buck pump they will do it again…
so if you think crypto is gonna pop …scrypt-pow or LTC you are better off mining what you have and HODL coin…or risk paying 3x for the equip vs coin when/if they arrive
if you think crypto and LTC of the like is gonna dump…you also don’t want to buy dubious equipment
and if it goes sideways…you don’t want to waste your coin…now for when it pumps later!
you got some cash laying about and want one for a toy …sure…write it off at tax time
but my days of crypto for big miner purchases and data halls are now gone…
if self employed at this as a pt biz you can write off ALL of self paid for biz health insurance (except HSA) so acts like equip 100% off gross…you can fund 35k or so I think it is at 100k rate…so if you make 50k it is likely 17k into such…also taken off like equip off gross
2-3 months for crypto value now…to maybe get equip that maye will ROI…hell I just don’t see it
I’m waiting till around July 2018…I may get some (really, really, iffy and dubious) obelisk miners for SC coin and deca coin…but that is only because I have 1/2 price coupons from last dubious purchases
likely they are door stops the day they arrive but beyond that silliness as a 1/2 price bet…I’m holding off
days of filling data hall may be gone back to basement winter heating mode end of 2018 at best me thinks
hope I am wrong…but not looking likely imho
It was so bad I spent 5k on a loaded alienware laptop with expanson chassis and gaming card…50% was gonna go to IRS anyway …I get 25% back on equip depreciation (biz computer use don’t ya know )
the 25% IS applied to taxes I know I’m gonna have to pay anyway…so the cost for this beast out of pocket was 25%
wish I could have done this for a company car…(CPA said this stunt works if I use it for work …car nope)
I suppose I should have gotten a xerox machine and a fancy ass printer too…but did not think of it in time
this is what happens when you buy equip and announce april 1st on bitcointalk with LTC at $4.15 or so usd oer whatever and you call it a 6 buck floor…
there are tax consequences on 4.15 to 250 buck LTC let me tell you…
but 90% of what I made last year I paid with crypto off (no debt) so mining better work some in 2018 or I am gonna be very, very sad…(as I eyeball the local microwave tower)
so nope…after July 2017 it made no sense to buy equip with crypto…that boat may have sailed I expect
hobby mode once the evil titans and the bitmain units go doorstop
but will wait till July 2018 to make any real choice I have other stuff to use crypto for till then (pos coins probably that stake…like mining)
later
brad