toddryoungblood
I'm also going to point out that I could see the chance of more capital inflows to BTC and altcoins given the general agreement that US equities are overpriced at the moment. It's becoming a lot more risky to own these equities given that they're nearing the historical tipping point (avg Shiller P/E 30 for S&P 500). In the past when equities hit this level in US a downtown follows shortly after. 

Chris21010

Cool GTX
*You'll have about 31% Taxes due on every $ earned with Coin.  Based on 25% Fed & 6% State - many locations even have City or County income tax - adjust multiplier to match your tax liability - in the year Earned - not year taken.
 
If your not setup as a business, with All required IRS documentations, NONE of your expenses are tax deductible
 
Then the Coin clearing house gets what percentage of your earned Coin - for you to actually get paid ?

i would like to point out that i have no plans on ever withdrawing USD from this and paying income tax on it. from my earned coins i will instead buy stuff directly with BTC from places like Newegg. now if one was to try and make a living off this kind of thing then that isnt such a great idea as you'll be found out eventually as one can not live off BTC alone just yet.

Chris21010

ipkha
Yes, that is tax fraud man. You pay taxes on income you earn from all sources. When the coins get in your wallet the taxes become due. Not when you cash out from the wallet.

when te US government acknowledges BTC as a form a currency and asks me my btc income i will report it. till then i will not report a wild estimation of some random value that BTC may have been at the time. if they want 30% they can accept 30% of my btc income as btc or none at all.

Cool GTX
Talk with a CPA, Accountant, or Lawyer that specializes in Taxes
 
Education about these things is important.......... lets remember the TOS in our discussions
 
The notorious Al Capone learned the hard way, the IRS has a lot of power and determination

Cool GTX
WORDS

Chris21010

toddryoungblood
I'm here because the comradery, actually. There isn't much of a community at all for Foldingcoin or Curecoin other than the Slack channels. 
 
As far as the cost/profit goes, I actually have a 501(C)(3) pending for my F@H . I've incorporated with the state and my public charity has been approved. Now I'm just waiting on the IRS to approve my tax status. My grandfather has been fighting Alzheimer's for 5 years now and his wife died of Parkinson's in 2000. Parkinsons runs in my family and it's something I'm more than likely going to get. This project is much more than mining a cryptocurrency, it's actually very personal, and I want to scale it. I'm hoping to build a self-sustaining extremely efficient non-profit that can dedicate most of its resources to F@H. 

 
eyup, that's the way to do it. non-profit that rolls over any income to operational costs and more hardware for more research.

Cool GTX
 
 
As it all befits F@H everyone Wins 
 

toddryoungblood
It's insane to see how the progression of technology has completely changed PPD output. Nowadays you could build a single system that produces roughly 5M PPD for less than $3,500. 

Cool GTX
Please share your concept build, those numbers look very tempting

Cool GTX
Interesting build.  Not so sure you will see 5 M PPD on air more likely 4 M PPD - or your AC is working seriously hard in that room
 
You run Linux for your OS ?
 
Still a nice build, thanks for sharing
 
Nearest Micro Center +100 miles; they usually have the best CPU price & combo deals - for walk-in Only

nathan_P
Mine would be a Z9PE or Z10PE d8, a pair of cheap xeons, 32gb of Ram, cheap HDD, zorin 9 OS and 4 1080ti's - that's 5m PPD but I don't see it for $3500, you could go x99 but you might not have enough PCie lanes to drive all 4 at x16.