Nerdy Awesome shit you bought!

[Scouse]

I'll have a 1070

If I flog 'em I'll let you know

 

[Vae]

OK. This is the thought process. Convoluted tho so bear with

Me and a mate are geeks. I put him onto crypto a few years back and he's made (and is still making) a fair whack from mining. He's been on at me for ages and at this point in time I had a spend-it or get-taxed-lots-on-it 6k in the company bank. (would have been looking at least 40% tax+ to take it out this year)

So I spent the 6k on mining equipment at an effective 40% knock down.

For this I get at least a year of fun mining various crypto currencies (ethereum has been difficulty bombed recently whilst they prepare a patch for a couple of months time - zcash is easier atm).

At the end of 12 months I *should* be looking at break-even in crypto factoring in hardware and power. AND be sitting on hardware to say, 50% of it's value if I decide to eBay it. (which considering I just bought it at 40% advantage isn't bad).

IF in 12 months time it's all to shit then I'll flog what hardware I have and either convert the crypto into cash, bitcoin or hold onto it (depending). Hopefully with residual hardware value then worst case I'll not lose a massive amount (I'd have been taxed if I paid myself that cash anyway, right?) - so even if I lost a couple of grand (factoring in the tax loss I would definitely have made) it's no biggie.

If nothing changes at the end of 12 months I'm looking to be sat on equivalent crypto to the cash layout. Therefore I've already profited (6k crypto is a profit as that's actually 6k crypto + tax I didn't pay + residual hardware value).

However - all the above speculation is high risk - if the coins I mine go through the floor then I only have residual hardware value (and something to hold on to).

If, however, they boom then I'm quids in. Yes, I'm obviously hoping for this

At the end of 12 months I make a choice. Do I cash in some crypto to pay for expansion of mining, convert to a different crypto currency or pull out? Or a combination of the above?


Either way - with the residual hardware value and the real tax downside I don't see this as much of a risk at all tbh. I get to spend the next 12 months playing "learn crypto" and watching the markets and bamboozling my family who'll never understand it. I may make/lose some/loads/none. I can afford total loss - but actually purchasing hardware (with the tax benefit) protects me against that. Chances are that it *won't* be a total loss anyway.

Plus - free heating for the whole house. Gas bill for the winter is gonna be tiny

Bear in mind that I assume you've bought this hardware within a limited company hence avoiding 40% personal tax you would have paid to take it out as salary (potentially less as dividend). So if you are doing everything correct then legally the bitcoins you mine are going to end up in the company as well as that is the purpose of the hardware. So if you do earn £6k after power costs then that will again be subject to the same 40% tax charge you delayed this year but you will have the residual sale value of the hardware as a profit in the company (and saved personal heating costs as you point out).

 

[Scouse]

Yep. The legal position of mining is vague (as opposed to buying bitcoins - which is simple currency trading). The value realised would come at time of exchange so holding onto the currency, and method of dispensing it gives opportunities in terms of taxation (dividends / personal tax yadda yadda yadda).

 

[Exioce]

So basically a 12 month money laundering scam. Got it.

 

[Scouse]

So basically a 12 month money laundering scam. Got it.

All perfectly legal and above board.

If it works out profitable in 12 months I'll continue. If not then I'll flog and try something else.

Dunno why people see perfectly legal methods of earning cash as scams if they don't fit their own experiences.

When I explain standard business taxation people call me a tax dodger. I see it the other way round tho - employees voluntarily pay too much tax out of fear of being unemployed. They should grow a pair and take some risks and reap the legal benefits.

 

[Gwadien]

All perfectly legal and above board.

If it works out profitable in 12 months I'll continue. If not then I'll flog and try something else.

Dunno why people see perfectly legal methods of earning cash as scams if they don't fit their own experiences.

When I explain standard business taxation people call me a tax dodger. I see it the other way round tho - employees voluntarily pay too much tax out of fear of being unemployed. They should grow a pair and take some risks and reap the legal benefits.

It's more the fact it's you, the person that criticises tax avoidance.

If it was @Bodhi doing this, it would make total sense.

 

[Scouse]

It's more the fact it's you, the person that criticises tax avoidance.

Been through this before. If a change in the tax system was put to the vote for all, making more equal the wealth of all at personal cost to me, I'd vote for it.

To give money away for free, making myself less wealthy relative to my peers, and measurably less happy / have a harder life as a result (as per science) would be moronic and self defeating.

But be fucked off at the relative wealth of a law abiding, not-wealthy man if you like, whilst the actual rich can afford non-legal methods of wealth acquisition and ignore the fact that few of them would vote against their self-interest.

Pick your targets for outrage...

 

[Gwadien]

Been through this before. If a change in the tax system was put to the vote for all, making more equal the wealth of all at personal cost to me, I'd vote for it.

To give money away for free, making myself less wealthy relative to my peers, and measurably less happy / have a harder life as a result (as per science) would be moronic and self defeating.

But be fucked off at the relative wealth of a law abiding, not-wealthy man if you like, whilst the actual rich can afford non-legal methods of wealth acquisition and ignore the fact that few of them would vote against their self-interest.

Pick your targets for outrage...

I still think you're a hypocrite and you should stand up for your convictions in front of the Politburo.

 

[Scouse]

I still think you're a hypocrite and you should stand up for your convictions in front of the Politburo.

I thought you were the politburo?

 

[Gwadien]

I thought you were the politburo?

Exactly.

I find you guilty of capitalism.

20 years 'hard labour'

 

[Scouse]

I find you guilty of capitalism

I'm not Cuban (unfortunately, or I'd be a better dancer).

20 years 'hard labour'

Does that mean I'm going to get bummed by Corbyn?

 

[Bodhi]

It's more the fact it's you, the person that criticises tax avoidance.

If it was @Bodhi doing this, it would make total sense.

Damn right, paying taxes is what poor people do.

Being serious though, I don't see an issue with this at all. If money can be made legally, and the government are happy for it not to be taxed, fill yer boots I say. But then I don't have the hard on for paying lots of tax that some on this forum do, as it isn't the only way to get first class public services - as a lot of tax havens have those as well.

My only annoyance around this is that I didn't get involved in the early days, as I would be fucking minted right now, and probably resident in one of the aforementioned tax havens

 

[Raven]

Damn right, paying taxes is what poor people do.

Being serious though, I don't see an issue with this at all. If money can be made legally, and the government are happy for it not to be taxed, fill yer boots I say. But then I don't have the hard on for paying lots of tax that some on this forum do, as it isn't the only way to get first class public services - as a lot of tax havens have those as well.

My only annoyance around this is that I didn't get involved in the early days, as I would be fucking minted right now, and probably resident in one of the aforementioned tax havens

Absolutely, but it makes people look like raging fuckwits when they complain about others avoiding tax through other, equally legal means. One of the most important means to help society is to contribute to it via taxes.

 

[Moriath]

some thing different from coin farming

SONY BRAVIA KD55XE9305 55" Smart 4K Ultra HD HDR LED TV

SONY HT-NT5 2.1 Wireless Sound Bar



Your home delivery order will be delivered on 7 October 2017

Roll on Saturday Nice HDR system yay

 

[Scouse]

Absolutely, but it makes people look like raging fuckwits

@Gwadien - like this, uninvited...

@Raven - why do you insist on silly childish insulting language, yet complain when people use it about you?

 

[ECA]

SONY HT-NT5 2.1 Wireless Sound Bar

Got a similar soundbar, the improvement over default TV speakers is insane.

 

[Moriath]

Loving my new sony tv .

 

[dysfunction]

Pity the photo is shit.

 

[Moriath]

Yeah the room was dark and ipad doesnt have a flash.

 

[Tom]

On soundbars, I may need one. I have a big plasma telly, underneath that is a 5.1 amp that TDC gave me, a Yamaha sub, and a few speakers to make a 5.1 system. But the two main speakers are getting old now and both vibrate at about 190Hz (which is really annoying), so I have several options. Do I buy a soundbar, or do I replace the speakers with something tall and slim (to fit the room)? If I buy a soundbar, can I keep the sub? Do I get a bluetooth soundbar and get rid of all the speakers bar the sub, or what?

Confused.

 

[Moriath]

I went soundbar to save all the wires and shizzle that came with setting up my denon amp and 5.1. The nt5 sony set i got has its own wireless sub with the option of adding wireless speakers at a later poit if necessary to male it up to 5.1.

It has bluetooth and multi room etc. Spotify built in.

I prefer it as a neater solution and it was a compromise on the 5.1 for the neater package overall.

I still love the sound

 

[caLLous]

On soundbars, I may need one. I have a big plasma telly, underneath that is a 5.1 amp that TDC gave me, a Yamaha sub, and a few speakers to make a 5.1 system. But the two main speakers are getting old now and both vibrate at about 190Hz (which is really annoying), so I have several options. Do I buy a soundbar, or do I replace the speakers with something tall and slim (to fit the room)? If I buy a soundbar, can I keep the sub? Do I get a bluetooth soundbar and get rid of all the speakers bar the sub, or what?

Confused.

I'd replace the speakers. Soundbars are better than built-in flatscreen TV speakers but they're not a patch on proper speakers.

 

[Tom]

I'd like some really really slim speakers, I almost want to clip them on the side of the TV but I can't find anything that does that. It's just because it's in the corner of the back room and there isn't a lot of space for anything big.

 

[old.user4556]

I'd like some really really slim speakers, I almost want to clip them on the side of the TV but I can't find anything that does that. It's just because it's in the corner of the back room and there isn't a lot of space for anything big.

KEF T Series? Wall mount, or on stands. I've got a T centre channel. It's great.

 

[old.user4556]

I picked up an Apple TV 4k. It's awesome.

 

[Moriath]

I picked up an Apple TV 4k. It's awesome.

What does it do that netflix doesnt?

 

[old.user4556]

What does it do that netflix doesnt?

The smart functionality on my Samsung TV is old and no longer being updated, so I needed a refresh. The integration between the iPhone and Siri makes using it a very slick experience indeed, the 4K content (priced the same as HD content) is also very good quality. Overall, it's a solid experience - simple things like the iPhone becoming an automatic keyboard when a search dialogue box pops up; no more manually typing stuff in with the remote.

 

[Tom]

KEF T Series? Wall mount, or on stands. I've got a T centre channel. It's great.

View attachment 37715

A nice suggestion, thanks, but I'm not spending that much on telly stuff

 

[Tom]

Just bought one of these:

SL A7 international

I know many people wouldn't spend that on a bike light but I think it's important to have good lighting, and lighting that doesn't dazzle the fuck out of everyone else. This one has a proper projected beam, like a car headlamp, so is both extremely bright and not annoying as hell for everyone else. It's the most I've spent on a bike light (my previous record was a Hope Vision 2 LED, which was over £200 in 2007 - it was one of the first proper LED lights released).

I also got this a few days ago:

PR1200 - Front Light - RAVEMEN

Which is the same idea, except it uses a fresnel lens rather than a projector, and simply isn't as good (still a quality light though).

These are to replace my Philips Saferide 80, which is a superb light with a really great beam cutoff, but sadly let down by its size and choice of batteries.

It's funny how when I check bike forums people won't spend anything more than £20 on bike lights, but they'll happily chuck £150 away on a polystyrene helmet. I know which I consider more important.

 

[Scouse]

It's funny how when I check bike forums people won't spend anything more than £20 on bike lights, but they'll happily chuck £150 away on a polystyrene helmet. I know which I consider more important.

I'll stick with my £20 cree dazzlers - I don't ride on the roads at night (got a little crappy front light and a bright as shit rear for when I'm not on the trails) - and you want unfiltered bright madness when doing downhilling at night - one on the bars, one on your helmet.

Mate of mine makes batteries which are better than the chineese ones so we take a couple of spares out and can run on max for about 6 hours. Plus, we don't worry about falling off and trashing expensive lights.

But if I had a road bike I'd go down your route fo' shizzle