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  1. GlobalWealth

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

    CRYPTO INVESTING 
    Update: Yesterday we had an interesting development inn the mine. With crypto prices in such a dramatic decline, and especially ETH, we are rethinking the strategy to move some of our gpu rigs from the US to Estonia. Not sure if I mentioned in earlier posts (too lazy to go back and reread...
  2. GlobalWealth

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

    TAXES | REGS 
    Yes, you are correct. My primary business is in company formation and proper structuring for asset protection and tax minimization.
  3. GlobalWealth

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

    TAXES | REGS 
    There are a few reasons some go with DE for their structure. One, as you noted is legal precedence that favors businesses. From a liability standpoint, this can be attractive to some. Another, DE has no state sales tax so if you have a virtual business without any state nexus, this could be...
  4. GlobalWealth

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

    CRYPTO INVESTING 
    I thought this may interest those of you interested in the numbers with a visual reference. I took this screenshot a few minutes ago from the pool dashboard. Right now we are running 4 Inno A9's mining Zencash. As you can see Zencash is around $20 so profitability has fallen in USD terms, but...
  5. GlobalWealth

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

    CRYPTO INVESTING 
    Last update today: Our new building does not have internet cable there yet. We knew this when we took the space, but chose it for other reasons despite this negative. Our options for internet were a satellite or 4g. Considering how the weather can be in Estonia in the winter months, I didn't...
  6. GlobalWealth

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

    CRYPTO INVESTING 
    Update: So far, my business partner and I have personally invested approximately $102,412 (I had to convert from EUR and BTC on some investments). This includes hardware orders, deposits with contractors and electricians, plus miscellaneous items. As of today, we are running 4 Inno A9's all...
  7. GlobalWealth

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

    CRYPTO INVESTING 
    Update: Yesterday my business partner and I met with our accountants in Estonia. We picked these guys because they are already involved in crypto personally and have a lot of clients also involved. We wanted to confirm a few details with them and get them working on our filings. In Estonia...
  8. GlobalWealth

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

    CRYPTO INVESTING 
    [emoji23][emoji23][emoji23] Sent from my VTR-L29 using Tapatalk
  9. GlobalWealth

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

    CRYPTO INVESTING 
    I saw that too. I am getting conflicting information on difficulty increase on ZEC and ZEN. Since I am friends with the ZEN guys we have discussed this and difficulty does increase, but nowhere near the 21% per month level. I need to confirm with them again. I paid $850 for the Z9 minis.
  10. GlobalWealth

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

    CRYPTO INVESTING 
    I will build at least one master node once we have the construction of the building finished. We should move all the hardware into the building by the end of this month. After that, I will start setting up a masternode.
  11. GlobalWealth

    Money Buys Happiness

    HOT! 
    Stress is the enemy of happiness. Money eliminates a lot of stress, thus allowing happiness to become the default. Of course money also can create a lot of stress. Luckily when you have money you can hire people to deal with most of that bullshit. Sent from my VTR-L29 using Tapatalk
  12. GlobalWealth

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

    CRYPTO INVESTING 
    Quick update. For those of you interested in predicting future profitability based on the difficulty increasing, you might find this site useful (at least for the coins they cover). My Crypto Buddy You can plug in the basic details like power usage, hashrates, power cost, and pool costs. But...
  13. GlobalWealth

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

    CRYPTO INVESTING 
    Statistically $10k is a 6% improvement in this case. However, it is still $10k. So yes, I'd notice...;) I was trying for the past several months to set up in Georgia, mainly because the power costs were around $.06/kwh, vs. about $.08/kwh in Estonia. In the end, I went with Estonia for...
  14. GlobalWealth

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

    CRYPTO INVESTING 
    You are not wrong on calculating the difficulty increase. It is definitely an consideration. The one point you are missing is increase in coin prices. Of course I realize an increase in coin prices is just as likely as a decrease. But it's good to make calculations with a floor, but also...
  15. GlobalWealth

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

    CRYPTO INVESTING 
    So far, zero Sent from my VTR-L29 using Tapatalk
  16. GlobalWealth

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

    CRYPTO INVESTING 
    Quick update. We finalized all details with contractor and electricians. The work on the space is underway and we should be ready to plug in miners in the facility by the end of August at the latest. We also ordered 4 more A9's. This means by end of August or early September we should have 12...
  17. GlobalWealth

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

    CRYPTO INVESTING 
    One of the reasons we are getting rent so cheap is that the miners exhaust will heat the rest of the property. The landlord really wanted us there for this reason. You are right on the power cost on a small scale. It's not huge. But an extra $25 per machine times 400 machines is 10k per month...
  18. GlobalWealth

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

    CRYPTO INVESTING 
    In my opinion, mining crypto in the US is not really viable. Of course there can be exceptions. For example if you have access to very cheap, off grid power and a facility with the infrastructure. For me the regularity issues and cost made it unattractive. Temperature is definitely an enemy...
  19. GlobalWealth

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

    CRYPTO INVESTING 
    Sorry, I missed this question earlier. I'm using zen.zhash.pro. This was the pool recommended to me by the ZenCash guys.
  20. GlobalWealth

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

    CRYPTO INVESTING 
    The key word here is additional infrastructure. Between construction costs and electrical infrastructure, I have invested about eur42,000. This is the problem with small/midsize mining. The infrastructure costs require that you do a reasonable size operation to overcome those costs. So...

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