Hey guys, thank you for the positive feedback and all your questions, there are some really good ones below. I started answering them, but my fingers started sweating from typing so much, so I will be doing a live stream on this channel in the very near future answering all of your questions. If you don't catch the live stream, stress not, it will be uploaded as a video and made permanently public.
Hey I prepare taxes for quite a few crypto clients. We usually have them report their mining income as a schedule C, a business. Reporting it this way is pretty good because they can write off the electricity/utilities they paid for related to mining, as well as pc repairs/part, etc.
Do you have to have a business tax ID to use schedule C? I’m interested in mining on my gaming laptop but I doubt I could make enough to make it worth having to do complicated things?
@@Justin-kq3qm No you don't need a business tax ID. The Schedule C is part of your personal tax return. It shouldn't be too complicated if you're doing it at a small scale, just keep track of how much you are making and be prepared to report that as income.
@Gamer Heaver, Great video as always! Just wanted to note one thing that mining is actually taxable, it's considered as income. "If you earn cryptocurrency by mining it, or receive it as a promotion or as payment for goods or services, it counts as part of your regular taxable income. You owe tax on the entire value of the crypto on the day you received it, at your regular income tax rate."
Dude, I never comment on vids but I had to say that I appreciate what you're doing here. I subbed with notifications, and other should do the same, but this has been one of the best straight to the point vids I've seen in a long time. I'm awaiting my R12, because I can't get a card to save my life, but I'll be ready to hit the ground running once it arrives. Thank you for your service man!
Wow this is a very informational video, damn good job, I couldn’t find any videos about taxing or little to do with it I’ve been looking for a while too. Thank you for this video.
great content per usual, mh/s should really never deviate unless you're using that particular gpu in conjunction with mining. How profitable you are changes every 5 seconds based on what the buyers are willing to pay.
I'm kinda' doing an experiment.. I have a 2080Ti and a Strix 3090 and I wanna mine for a whole month and see where I land. I live in UK btw.. After 3 weeks of 23/7 mining I must say numbers look promissing.. I made a mistake 2 months ago when I sold one 2080Ti (had 2) for 650£ and few days ago I've found the same card being sold for 1200£. I feel so sorry for my poor GPU.. 😢😢😢 I bet she wanted to be exploited by ME till the end of her life 😥😥😥 Great video btw and it did answeared MANY of the questions I had..
@@TheRebelNebel tbh, with the price drop of BTC, this month was terrible. After paying for everything, I made only 140$ (mining with a 3090 and 2080ti).. Price of electricity in UK is insane and if BTC drops in price like it did... profits go south aswell
Convenience is likely the answer for most people. Setup is 20 min, don’t have to change pools/miners, can manage from your phone, optimization can be changed from your phone, payout is in BTC, easy built in history/tracking, etc. Pool mining is 5%-10% better for sure, just a little more effort to start and turn off/on for casuals.
The QuickMiner is for Nvidia only. Does not work with AMD gpus. Thanks for the nice video btw. I got started mining just because I happened to run into one of your videos explaining the process.
Understanding that prices go up and down and this vid is a yr old but maybe u can answer I have a 3080 in an Alienware I follow ur directions and my profitability is 1 to 2 dollars a day and I tried both quick mining and reg way
Hello Kevin! thanks for all the great content you provide! Started following you since your unboxing of the R11 and ever since. I too bought and have been using an R11 for almost a month, and you've been there every step of the way! I have a clean setup and even the same Star wars desk pad. I'm also a Veteran, Semper. and have the same path as you man> Question: why all the CPU hate? have you tried CPU mining with another program while at the same time gpu mining with Nicehash? Like for monero or other coin specific? My R11 is my 2nd hand, so i'm okay with CPU mining and not using it. Would like to hear your thoughts. (btw, i rarely comment/participate, but you inspired me too)
Hey man. I am glad you enjoy my content, these kind of comments encourage me to continue making videos for a long time. I would CPU mine if it was in a second PC I am not using or a dedicated mining rig, but my experiences CPU mining in my main PC that I am constantly using have been high usage for minimal earnings. For your case I would say if you aren't using it like you mentioned it would make sense.
@@GamerHeavenOfficial Well, I've watched the vids and have implemented your knowledge to my brain housing group. As longs as you don't think the CPU will fry, and most likely just shaves away the tail life, i'm okay with that. Don't get me wrong, im a gamer and still use it to game. I just have something else i use when trading/banking/browsing. Thanks for the info. I'll be in touch more often and send you more viewers.
I subscribed for the caterpiller ...lol jk crypto mining knowledge expecting a new PC in 2 weeks has a nvidia geforce 3060ti. Can you have 2 graphics cards on 1 PC? Both mining?
You say the mining isn’t taxable but I think I read on a irs blog that you do have to pay income tax when you mine, then taxed when you sell. Just trying to double check since im interested in using my laptop to mine.
love ur vids bro I like how you explain everything in way I can understand. Thanks you to I am off to my first adventures using my pc to earn passive income instead of donating plasma lmao
Dude awesome content. I am thinking of getting the Corsair Vengance. I dont wanna mess with the fans as you did in the Aurora. Do you think the cooling on the CORSAIR VENGEANCE a7200 would b eenough ? Thanks
Hi love the vids.. Keep up the good work.. Wondering do you need to have a 3080 or 3090 to mine or whats the lowest kind of card you can mine with new to all this thanks...
Hey Kevin, quick one: I have a R12 with a 3080, did you do any adjustments in Alienware Command Center in terms of overclock or underclock along with QuickMiner “medium” or did you just leave it as default in command center and only use the medium profile in quick miner? Thanks
Dude, I never comment on vids but I had to say that I appreciate what you're doing here. I subbed with notifications, and other should do the same, but this has been one of the best straight to the point vids I've seen in a long time. I'm awaiting my R12, because I can't get a card to save my life, but I'll be ready to hit the ground running once it arrives. Thank you for your service man!
Hey guys, thank you for the positive feedback and all your questions, there are some really good ones below. I started answering them, but my fingers started sweating from typing so much, so I will be doing a live stream on this channel in the very near future answering all of your questions. If you don't catch the live stream, stress not, it will be uploaded as a video and made permanently public.
I've made about $500 since following your videos using my gaming pc. Thank you.
How often do you mine?
@@josemadriz5716 it's pretty much running all the time unless I'm gaming.
@@Chubbbs117 with my 3060ti I only get like 5 dollars a day maybe I should give it a try.
@@josemadriz5716 I get about 7-10 a day with a 3080
Dude , love your content. Gaming and mining , right up my ally.
And fun as hell.
Content is great. Makes gaming and mining fun.
Thank you for this long stroke of info, especially at 5:59, much appreciated!
Your channel is like a gateway drug to mining. I found it a few days ago and have been going down the RUclips crypto mining rabbit hole ever since.
Hey I prepare taxes for quite a few crypto clients. We usually have them report their mining income as a schedule C, a business. Reporting it this way is pretty good because they can write off the electricity/utilities they paid for related to mining, as well as pc repairs/part, etc.
Do you have to have a business tax ID to use schedule C? I’m interested in mining on my gaming laptop but I doubt I could make enough to make it worth having to do complicated things?
@@Justin-kq3qm No you don't need a business tax ID. The Schedule C is part of your personal tax return. It shouldn't be too complicated if you're doing it at a small scale, just keep track of how much you are making and be prepared to report that as income.
@@jacobr1095 perfect. Do you think HR block software can handle it? I appreciate it.
@@Justin-kq3qm yea I think so.
@Gamer Heaver, Great video as always! Just wanted to note one thing that mining is actually taxable, it's considered as income. "If you earn cryptocurrency by mining it, or receive it as a promotion or as payment for goods or services, it counts as part of your regular taxable income. You owe tax on the entire value of the crypto on the day you received it, at your regular income tax rate."
I'm not normally a PC guy. But bro I like your energy and punchlines. You are cool. Keep them vids coming, just subsribed!
you and your channel got me to by an r12. iam new to computer gaming and mining so this info is really helpful. Keep up the hard work man
Dude, I never comment on vids but I had to say that I appreciate what you're doing here. I subbed with notifications, and other should do the same, but this has been one of the best straight to the point vids I've seen in a long time. I'm awaiting my R12, because I can't get a card to save my life, but I'll be ready to hit the ground running once it arrives. Thank you for your service man!
Wow this is a very informational video, damn good job, I couldn’t find any videos about taxing or little to do with it I’ve been looking for a while too. Thank you for this video.
great content per usual, mh/s should really never deviate unless you're using that particular gpu in conjunction with mining. How profitable you are changes every 5 seconds based on what the buyers are willing to pay.
something about this guy show he reaaaally like star wars/storm troopers
I'm kinda' doing an experiment.. I have a 2080Ti and a Strix 3090 and I wanna mine for a whole month and see where I land. I live in UK btw.. After 3 weeks of 23/7 mining I must say numbers look promissing.. I made a mistake 2 months ago when I sold one 2080Ti (had 2) for 650£ and few days ago I've found the same card being sold for 1200£. I feel so sorry for my poor GPU.. 😢😢😢 I bet she wanted to be exploited by ME till the end of her life 😥😥😥
Great video btw and it did answeared MANY of the questions I had..
What's the average money made per month? I just started with a 2070Super. I want to get a 3080 but I am wondering if it is worth it
@@TheRebelNebel tbh, with the price drop of BTC, this month was terrible. After paying for everything, I made only 140$ (mining with a 3090 and 2080ti).. Price of electricity in UK is insane and if BTC drops in price like it did... profits go south aswell
Thanks for the detail you put in this video.
1. Why are you using nicehash and paying 1% where else unmineable can offer 0.75%?
Is there a specific reason to do so?
Why do you prefer to use nicehash vs mining eth directly? Great vids btw!
I’m curious as well, especially with ethereum’s plan to shut mining down
Convenience is likely the answer for most people. Setup is 20 min, don’t have to change pools/miners, can manage from your phone, optimization can be changed from your phone, payout is in BTC, easy built in history/tracking, etc. Pool mining is 5%-10% better for sure, just a little more effort to start and turn off/on for casuals.
to sum it up it is just overall much more simple and easier
The QuickMiner is for Nvidia only. Does not work with AMD gpus. Thanks for the nice video btw. I got started mining just because I happened to run into one of your videos explaining the process.
Understanding that prices go up and down and this vid is a yr old but maybe u can answer I have a 3080 in an Alienware I follow ur directions and my profitability is 1 to 2 dollars a day and I tried both quick mining and reg way
Hello Kevin! thanks for all the great content you provide! Started following you since your unboxing of the R11 and ever since. I too bought and have been using an R11 for almost a month, and you've been there every step of the way! I have a clean setup and even the same Star wars desk pad. I'm also a Veteran, Semper. and have the same path as you man>
Question: why all the CPU hate? have you tried CPU mining with another program while at the same time gpu mining with Nicehash? Like for monero or other coin specific? My R11 is my 2nd hand, so i'm okay with CPU mining and not using it. Would like to hear your thoughts. (btw, i rarely comment/participate, but you inspired me too)
Hey man. I am glad you enjoy my content, these kind of comments encourage me to continue making videos for a long time. I would CPU mine if it was in a second PC I am not using or a dedicated mining rig, but my experiences CPU mining in my main PC that I am constantly using have been high usage for minimal earnings. For your case I would say if you aren't using it like you mentioned it would make sense.
@@GamerHeavenOfficial Well, I've watched the vids and have implemented your knowledge to my brain housing group. As longs as you don't think the CPU will fry, and most likely just shaves away the tail life, i'm okay with that. Don't get me wrong, im a gamer and still use it to game. I just have something else i use when trading/banking/browsing.
Thanks for the info. I'll be in touch more often and send you more viewers.
Amazing video on the subject. Def gained those 7 mh!
Glad to hear the cryto tax video is coming :)
I subscribed for the caterpiller ...lol jk crypto mining knowledge expecting a new PC in 2 weeks has a nvidia geforce 3060ti. Can you have 2 graphics cards on 1 PC? Both mining?
You say the mining isn’t taxable but I think I read on a irs blog that you do have to pay income tax when you mine, then taxed when you sell. Just trying to double check since im interested in using my laptop to mine.
I have a Ryzen 5 5950X and RTX 3060 along with a liquid cooler. Would currency mining be worth it in the long term?
love ur vids bro I like how you explain everything in way I can understand. Thanks you to I am off to my first adventures using my pc to earn passive income instead of donating plasma lmao
Dude awesome content. I am thinking of getting the Corsair Vengance. I dont wanna mess with the fans as you did in the Aurora. Do you think the cooling on the CORSAIR VENGEANCE a7200 would b eenough ? Thanks
Hi love the vids.. Keep up the good work.. Wondering do you need to have a 3080 or 3090 to mine or whats the lowest kind of card you can mine with new to all this thanks...
thanks for the video, good stuff.
I love you man
love U2
Thanks
This guy loves star wars
instead of using RJ45 to physcially connect to my router, is it okay by using Wifi connection at home for 12-24 hour mining?
Love this content ‼️
I’m looking to buy a desktop primarily for mining?
Good job man
Hey Kevin, quick one: I have a R12 with a 3080, did you do any adjustments in Alienware Command Center in terms of overclock or underclock along with QuickMiner “medium” or did you just leave it as default in command center and only use the medium profile in quick miner? Thanks
He undervolt and overclocked on the command center. He has a video for it
if I mine with a USB miner/miners can I use nicehash with them?
Am I able to do this I am 14
u gotta keep that stache mann.
Hi guys, whats a solid pc for around $1200 to mine with?
didnt ledger get hacked recently
What are your opinions on nicehash OS
i love you, i know its one-sided but my god im in love with you, thank you
Tweeker, good job
11 months later a 3080 will get you $3 a day.
I would recommend Coinbase Pro just to save the fees when withdrawing to a legacy account
Does Coinbase pro cost much?
@@titusgietzen nope, it’s free just like Coinbase. In fact you can instantly transfer from Coinbase to Coinbase Pro.
Dude, I never comment on vids but I had to say that I appreciate what you're doing here. I subbed with notifications, and other should do the same, but this has been one of the best straight to the point vids I've seen in a long time. I'm awaiting my R12, because I can't get a card to save my life, but I'll be ready to hit the ground running once it arrives. Thank you for your service man!