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Mining crypto
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<blockquote data-quote="blackisleboy" data-source="post: 7543246" data-attributes="member: 134174"><p>with a 6 month waiting time, that's a really difficult question.</p><p>I think we are going to see much more regulation coming in soon, with a necessity to report to HMRC ( you currently need to but it is very difficult for them to enforce - mining proceeds are classed as income with value calculated at time of it hitting your wallet, and on top of that any appreciation between then and you cashing or spending is classed as capital gain. Slightly different if you are mining through a business.).</p><p>It is impossible to do a full business model on this stuff - too many variables outwith your control. My rigs are now nearly paid for, and I have ordered another.....that's as close as I can come to answering your question......</p></blockquote><p></p>
[QUOTE="blackisleboy, post: 7543246, member: 134174"] with a 6 month waiting time, that's a really difficult question. I think we are going to see much more regulation coming in soon, with a necessity to report to HMRC ( you currently need to but it is very difficult for them to enforce - mining proceeds are classed as income with value calculated at time of it hitting your wallet, and on top of that any appreciation between then and you cashing or spending is classed as capital gain. Slightly different if you are mining through a business.). It is impossible to do a full business model on this stuff - too many variables outwith your control. My rigs are now nearly paid for, and I have ordered another.....that's as close as I can come to answering your question...... [/QUOTE]
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