Crypto mining and the tax man

I have to have a word with myself about marketing. This is not a blog that is likely to attract the passive perusal of a passing punter, no matter how much alliteration I put in the opening line. It IS, however, a blog you’d want to read if you’re involved in mining – at any level – for Crypto currency.

If you’re not sure what mining is, then you’re probably getting a bit ahead of yourself here, but if you do and you’re already doing it, or thinking about it, then you’ll need to read on. Continue reading “Crypto mining and the tax man”

Mining with the ‘big boys’ – One year on

I can’t really believe it’s been well over a year since I started mining with CyberianMine as I blogged about here at the time. Then, my single Antminer S9 (nicknamed’ Eddie’) was happily punching out 13.5 Th/s and collecting sats 24/7. Every day, a small amount of Bitcoin was automatically transferred to my wallet and, like a savings account earning a small amount of interest, it grew and grew. That little Antminer is still whirring away right now, even as I type, in a facility deep in the Siberian landscape. It’s never broken down. It’s an amazing bit of kit. Continue reading “Mining with the ‘big boys’ – One year on”

The future of Bitcoin (A mid 2019 view)

I’ve now been in the ‘crypto space’ for a couple of years actively (and a couple of years prior to that poking it with a stick) and someone asked me the other day if my views on Bitcoin in particular had changed in that time. That got me thinking. Have they?

Well, yes. And, no. That’s the short answer, but I suspect they wanted a more detailed answer, so I shall attempt to appease them.

Continue reading “The future of Bitcoin (A mid 2019 view)”

Withdraw your own money? You must be joking.

This actually happened to me today, word for word. There’s a great case for Bitcoin in my view, but sometimes the banks just like to make that case even more pronounced, don’t they?

It’s no secret I am a cryptocurrency advocate. I still think Bitcoin will retain the number one spot overall as a way to make infrequent, large purchases and/or a store of value, but I also think a handful of other currencies will exist for fast, day to day transactions for different reasons such as XRP, Litecoin and Monero. However, I don’t believe any of them will actually replace the banking system and nor should they. For various economic and monetary policy reasons, there needs to be sovereign currencies. But perhaps the fact that there is a real, global competitor that is becoming increasingly accessible will force the powers that be to examine how their currency is maintained. Well, maybe. Or maybe I’m just being an optimistic hippie-esque revolutionary again. Continue reading “Withdraw your own money? You must be joking.”

Was I wrong about Wirex?

This is a tough blog for me to write.

I may have to publicly admit I was wrong about something I was very passionate about. I don’t like being wrong, I like admitting it even less (as my other half will testify to!), but the facts are indisputable. Let me explain. Continue reading “Was I wrong about Wirex?”