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  1. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Some lessons learned. Familiarize yourself with the site rapidtables.com. You will use this often to calculate the amp draw of your hardware. For example, an Innosilicon A9 overclocked needs about 1.7amps using a .8 power factor. A Bitmain L3+ overclocked at 462mhz needs about 2.5amps...
  2. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Update: It's been awhile since my last update. It has been very busy getting this mine up and running. Imagine that, a new business that requires a lot of hard work..... go figure We have shipped out all of your GPU mining rigs from the US going to Estonia. They are en route as I type and...
  3. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Hi @Zhyna, if you will note from earlier posts in the thread, we are still in the process of building this out. I have several miners running at my home and my biz partner's home at the moment. We should be moving into our space next week. Update post coming up...
  4. GlobalWealth

    2019 Fastlane Summit: Preliminary Speaker Call

    MEETUPS 
    If be happy to do a panel with Happe..... Lol Bourbon required. Sent from my VTR-L29 using Tapatalk
  5. GlobalWealth

    2019 Fastlane Summit: Preliminary Speaker Call

    MEETUPS 
    If be happy to give a presentation. For the past several months I've been working hard building a crypto mine (see progress thread in insiders). We are finally at the finish line so I could present about the process of building the mine. Decisions on regulations, geographic choice, hardware...
  6. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    I also hope it becomes a no. But the university where he will be living is one of the best in the world for a technical education so if he decides to do uni maybe he will just do it there (they have a bachelor program in science and technology taught in English). Sent from my VTR-L29 using...
  7. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    You are correct, mining pools drip out your payout all throughout the day, multiple times per day. That means you need to account for the coin at the valuation at that time. The accounting would be a nightmare. As for the taxation issues, we are an Estonian company with clear nexus. I am...
  8. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    I bought the z9 minis direct from bitmain on June 18th for 850/e. Sent from my VTR-L29 using Tapatalk
  9. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    I just bought from the manufacturer. Nothing special. Sent from my VTR-L29 using Tapatalk
  10. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    I wouldn't build a gpu rig, but definitely agree to buy an asic or 2 to give it a shot. Sent from my VTR-L29 using Tapatalk
  11. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Tax reporting and filing is a huge concern in the US. The tax department wants to tax mining at the time of coin production. This is impossible to effectively report. They consider mining to be a taxable event. This is equivalent to taxing a corn farmer at harvest, not at market. The...
  12. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Based on projections (lots of big ifs in crypto), we expect 50-60k/m within 3 months. "IF" all goes well, we should be around 200k/m within 18 months as long as we reinvest some profits back into hardware. Of course you could make a mining operation work in the US if you had a cheap location...
  13. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Yeah. A 19 year old living in Estonia making money..... Not a horrible situation. Sent from my VTR-L29 using Tapatalk
  14. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    A few updates: Earlier this week I visited the property where we are building out the mine. It seems the weather put a delay on the project. The electricians dug the trench to bury the high voltage cable we are running from the transformer to the building, but then it rained for 3 days...
  15. GlobalWealth

    How to learn to sell?

    MINDSET 
    If you have a job, you're in sales. If you've ever had sex, you're in sales. If you have kids, you're in sales. Change your perspective. Sent from my VTR-L29 using Tapatalk
  16. GlobalWealth

    So in a nutshell, LLC = less taxes VS Self Employed?

    TAXES | REGS 
    Actually some states allow you to redomicile an llc from another state allowing you to keep your existing llc history. Sent from my VTR-L29 using Tapatalk
  17. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    However, if you know a solution, please post it here for me and others to see. I personally would like to know.
  18. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    Yes, but the market is not very mature at this point and not so easy short. It's not nearly as easy as buying LEAP puts on stocks or eft's to hedge a portfolio.
  19. GlobalWealth

    [Progress thread] Building out a crypto mine, step-by-step - AMA

    CRYPTO INVESTING 
    We have zero interest in investing in any more mining operations in the US (see earlier posts on this topic). With solar you need to make 10-20 year investment decisions. With crypto you need to make 6-12 month investment decisions. Therein lies the dichotomy. If I could connect to an...
  20. GlobalWealth

    So in a nutshell, LLC = less taxes VS Self Employed?

    TAXES | REGS 
    I have a few clients who set up defined benefit plans for their businesses. One of my clients who is a doctor and a partner in a larger practice did this. We created a professional LLC where the firm would pay all of his earnings. With this professional LLC we set up a defined benefit plan...

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