I do exactly this with my Jasminer X16-Q. I mine Canxium send to Xeggex and swap for Kaspa then out to cold storage so this is all familiar territory for me. Thanks for the vid and confirming I'm on the right track!
Finally someone who shows the struggle with fees and the coins. You could possibly trade to USDT then Kaspa and sell on Uphold as well. Or just get more Kaspa… I mean why not?
I’m with you @Red Fox Crypto selling all these shit coins as the $ value mining them is pretty good. Sure we could miss out on even higher gains later or save our mind, stress, and well being now in case it goes to zero lmao
Low fees. Very good idea. That's what I use also. Screw ETH Gas Fees, man. Also, love your videos as well, sir. Been thinking about how to upgrade my Exhaust as well, as I only have Box Fans in a non-sealed window currently. Any thoughts/suggestions? Saw some pretty good window fans with high CFM that seal well.
You wouldn’t happen to have an X11 ASIC miner would you? AiPoweMeme needs more hashrate the chain is moving really slow. I don’t own an ASIC X11 miner though.
7:25 DUDE! Don't encourage people to use market orders! Use limit order, set the lowest price you're willing to accept for your crypto and wait for the fill. For $60 worth of crypto it doesn't matter, but when you market buy/sell $1000+ of some shitcoin it's gonna hurt.
I'm curious how much electricity you used to generate that $55ish by the time you converted everything? (Net profit on this vs gross profit). I've been out of the game since ETH but have about eight 30 series graphics cards still around and a couple old mining rigs just sitting on the sideline waiting once coins are profitable to mine again without too much hassle.
How do you track taxes while mining shitcoin? Is there some reporting on the mining side (0 cost basis) and on the exchange side (>0 cost basis)? Ive stayed away from these type of coins for this reason.
I'll use the sell price as the cost-basis if I deposit and then instantly sell. Unless Cointracking.info has the historical price data already ready to go.
Mike. What I do is sell the mined coins into USDT, then change that USDT into USDC. Then send the USDC to coinbase using the Polygon chain which is super cheap. Try that, it's an extra transaction on your taxes but well worth it to save on the stupid fees.
Coinbase is so annoying with their lack of support for cheaper L2 networks for sending/receiving Tether/USDT Everyone keeps talking about cheaper L2s but if the exchanges don't support it whats the point?
I personally mine "shitcoins" and when they start pumping sell and trade that into BTC, HODL BTC.
What shitcoins are you mining
I do exactly this with my Jasminer X16-Q. I mine Canxium send to Xeggex and swap for Kaspa then out to cold storage so this is all familiar territory for me. Thanks for the vid and confirming I'm on the right track!
Finally someone who shows the struggle with fees and the coins. You could possibly trade to USDT then Kaspa and sell on Uphold as well. Or just get more Kaspa… I mean why not?
coinbase is a crime syndicate now. their fees are nutso. Never using them again... Good luck with the 💩 coins!
I’m with you @Red Fox Crypto selling all these shit coins as the $ value mining them is pretty good. Sure we could miss out on even higher gains later or save our mind, stress, and well being now in case it goes to zero lmao
100% my dude.
LTC has been my go to as well to get funds to Coinbase. Nice vid man!
Whats your thoughts on RVN coin?
Low fees. Very good idea. That's what I use also. Screw ETH Gas Fees, man. Also, love your videos as well, sir. Been thinking about how to upgrade my Exhaust as well, as I only have Box Fans in a non-sealed window currently. Any thoughts/suggestions? Saw some pretty good window fans with high CFM that seal well.
@@TWizzleMyNizzle94 only suggestion would be go with more cfm then you think you need! I’m worried mine may be too low come July/August.
This. 100%
You wouldn’t happen to have an X11 ASIC miner would you? AiPoweMeme needs more hashrate the chain is moving really slow. I don’t own an ASIC X11 miner though.
There's are too many scam coins popping up.
7:25 DUDE! Don't encourage people to use market orders! Use limit order, set the lowest price you're willing to accept for your crypto and wait for the fill. For $60 worth of crypto it doesn't matter, but when you market buy/sell $1000+ of some shitcoin it's gonna hurt.
I'm curious how much electricity you used to generate that $55ish by the time you converted everything? (Net profit on this vs gross profit). I've been out of the game since ETH but have about eight 30 series graphics cards still around and a couple old mining rigs just sitting on the sideline waiting once coins are profitable to mine again without too much hassle.
When is the Redfoxmining album dropping? I'd buy 100%
Hey. I watched the last video…
I did, too! I guess we don't count 😐
😘
Came for crypto, stayed for the mustache. 😍 @@RedFoxCrypto
I am the King of FPGA mining....
The second nautilus gets listed at a decent price it will DUMP SO HARD! Premise is huge redflag
I'm mining "new" shit coins directly to exchange and dumping every couple days. I won't even entertain their wallets
Why not neoxa to help with your node funds?
I’m just about done! 95% to the node!
I personally like using Dash to swap between exchanges. Super low fees and supported on a lot of exchanges
Not that it matters, but a market order in a bull flag? Probably should have put that limit order in but it totally understand just getting out
Great vid. Been looking for a video like this as I am doing the same thing on K1pool
Glad I could help
I have been using XRP for this reason. Super low fees and the transaction is almost instant.
Nice!! Plus the mustache must stay...
Thanks on this man! What are your thoughts for the RXD and Nexa coin?
Good question
How do you track taxes while mining shitcoin? Is there some reporting on the mining side (0 cost basis) and on the exchange side (>0 cost basis)? Ive stayed away from these type of coins for this reason.
I'll use the sell price as the cost-basis if I deposit and then instantly sell. Unless Cointracking.info has the historical price data already ready to go.
Immediate red flag is the AI generated art lol
"That nobody watched" 🤣
Great video as always from the one and only RED FOX!!! Keep it up man!!! Been following you for years!!!
Thank you!
ye ltc for all the shits:)
DASH is generally my go to for moving funds. Generally a lot lower withdrawl fees on most exchanges compared to LTC.
Mike. What I do is sell the mined coins into USDT, then change that USDT into USDC. Then send the USDC to coinbase using the Polygon chain which is super cheap. Try that, it's an extra transaction on your taxes but well worth it to save on the stupid fees.
Coinbase is so annoying with their lack of support for cheaper L2 networks for sending/receiving Tether/USDT
Everyone keeps talking about cheaper L2s but if the exchanges don't support it whats the point?
I did watch that video! I’m waiting on bitcoin to go up again so I can buy it!
Phhhahhhhaha
I like converting to MATIC fees are low and it's fast
I used tether on avax c chain to off ramp ...not sure that was the wisest thing to do lol
Hahah 🤣 Niceee, actually so cool 👌 thanks for the video and the topgun inspired music ! You tha man 🔥🔥🔥
Thanks buddy!