Beat Crypto Winter!

Having successfully survived the bitter cold of the “Crypto Winter” and the stubborn “Bear markets”, we’re looking ahead to what promises to be an exciting 2019 with our mining friends! Come talk coin in the PiMP discord chat, it’s easy!  Join our public Clubhouse Calls every Wednesday to get to know your fellow miners, learn some things, and have some fun. 

Who are we?

If you haven’t heard of us already, we are early miners who pioneered the concept of a Crypto Currency mining OS, and monitoring crypto mining rigs. So we created PiMP OS and miner.farm to meet all of the requests and the needs being created. We also assist and advise crypto organizations and developers by representing miners interests.

Strategies for Staying Profitable

The PiMP Community remains flexible and has all the tools and advice and help that miners need to stay profitable in any market. Come chat with us!

Be Approachable

When helping others who are struggling with things like Windows driver or library issues, you can recommend PiMP using your Referral Link and earn commission. Here’s an under 4-minute how-to video: https://www.youtube.com/watch?v=DdkknT1hDVQ

Stability is the Key

Smooth, simple, set-and-forget mining means no downtime and no labor cost. This is critical the tighter the profit margin, so make sure to set your farm up for success. 

Crypto Tax Tips: The Brash Report

The Brash Report is primarily geared toward US tax law but the ideas can be applied most likely to other countries. This section of the PiMP Mining Magazine is to help you learn about how to be tax compliant and profitable with crypto!

Feb 2019 Brash Report: Tax Evaders are sales people too!

We received an Ask Brash Question:  In the US is mining coins taxable?  Reason being is on the 19th December 2018, the UK made mining taxable. 
The correct answer has ALWAYS BEEN a clear YES in the United States for US Citizens, Green Card Holders and any non-citizen doing business in the USA.  By the way, if you are mining in a state that has an income tax… SAME ANSWER!
 
As a tax professional, I am frequently asked… do I need to pay my taxes?  The professional answer is yes… and now let’s see how we can work the tax system in a legitimate way to build your business, or convert your hobby into a profitable business (aka a taxpaying business).
 
There are legendary tax evaders, and there are small-time tax evaders.  Is that were you want to go?  If so, then nothing I could write will ever change your mind.  Remember, that your unprofessional and unscrupulous crypto buddies do not have any skin in the game they are recommending to you— when they tell you it’s ok to evade taxes… because everyone is doing it!  (Next week they are selling bridges, or swamp land, or other classic scams… ponzi scheme anyone?) 
 
The truth is… the honest (and knowledgeable) taxpayers already know that taxes are required to be paid on any profitable economic activity.  For unprofitable businesses, you may make a claim to reduce your taxes.  Only your tax-evading crypto buddies will try to sell you on the idea of tax evasion.  Are you buying their sales pitch?  Do you genuinely believe the line that “everyone is doing it?” and there are no consequences when you get “caught”? 
 
In addition, they will abandon you if you ever get the attention of the tax authorities.  You have no ability to make their life as difficult as yours will become.  (I.E. you cannot sue the person who gave you the bad advice.  On the other hand there is a hot line and whistle-blower protections and rewards for turning them in!)
 
Your non-tax-professional “friends” may have good intentions, and they may not realize they are giving you bad advice.  The road to hell is paved with intentions.  In other words, they do not know they are giving bad advice that could cost you dearly.
 
My favorite tax advice by urban legend is… the young couple got married… and in their culture in this USA… the family gave them over $30K on their wedding day… in cash.  The uncle, thinking he was helping, gave the following advice… only deposit $9,000 at a time in the bank or there will be problems for you.  The young couple followed the advice of the uncle and then left on their one month honeymoon in the Caribbean.  When they returned, they were greeted at the international airport by accountants with guns (FinCEN agents… Google them, you are smart!).  In this case, the lawyer’s client (the young couple) was able to explain in court why this was not part of a money laundering scheme.  The correct advice should have been… bring all of the cash in to the bank… bring wedding photos to show the bank teller… bring the mother of the bride… meet the bank manager and show the photos.  Here is the basic problem… the banks are required by law to fill out a SARS report if anyone brings in cash over $10,000.. in two or more deposits… when there is no clear explanation of where the cash came from.  The uncle suggested “structuring” which is even more suspicious and more illegal.
 
The reason for telling this story to crypto currency miners… is because the FinCEN folks are out there… putting systems in place to catch as many people as possible in the crypto world.
 
Respectfully,
Brash,
Bitcoin Believer since 2013
PS.  Get professional help!  (Brash)
 
ASK BRASH! 
Brash is taking your questions for the next issue! Just email ask@getpimp.org your tax or other crypto related questions and we will help you find answers!

Miner.farm 3 Roadmap Report

 

Miner.farm 3 rollout has been a huge success.  No outages, no service loss.  Features are welcomed by users.  Dark mode is crazy cool.  Have you tried the account manager yet?  
 
Another very big feature is the ability to clear your own key’s rig counts. No more waiting between re-images or deployments. You have the control right there.
 
Miner.farm’s 3rd generation continues to run perfectly smooth as we continue assigning features and fixes to the miner.farm 3.1 update that shouldbe coming out Summer 2019. 

PiMP OS Roadmap Report

The next generation of pimp software is already in beta testing. The PiMP Beta team has been using it to gain access to newer miners faster, and we’re about halfway done helpme3. 
 
We will be releasing a 2.9.3 image before end of February. It will have all the latest miners and updates from PiMP and Ubuntu. It will be a re-image,not an OTA update.
 
Alien and Louis and many others are finding the sweet spot for GRIN mining. Example, for bminer version 15 for Grin G31 the miner was restarting every 5-6 hours and we needed more stability. To achieve this, you could increase the power limit, for example, of my 1070’s to 160 watts, though they don’t always use that much power. Grin seems to need a higher power threshold then say, ETH.

Support Team Shout Outs

Thanks for your Support – we saw quite a few new signups to the Referral Program and some miners are earning extra money! No new support issues or hardware problems in several months means our QA effort is paying off. Thanks Beta Team!

** 20% OFF PiMP OS **

Thanks for reading, miners!

Enjoy this Coupon Code:

BeatCryptoWinter

(Expires Jan 31, 2018)

A quick word from the devs

Hey miners!
We’re working harder than ever, using this slow crypto mining market to focus, write code, and learn and implement new tech that goes into your tools. 
 
The PiMP family lives and breathes coins. We spend every day talking with cryptocurrency miners, traders, developers, electricians, engineers, and general enthusiasts with over five years of hands-on experience. Mostly in the PiMP Discord!
We believe wholeheartedly that cryptocurrency in some form is the future of money. Our goal is straightforward: grow this industry! This year will see the 3rd complete generation of PiMP OS and a fresh chance to wow everyone with newer, more powerful management tools, thanks to the complete infrastucture and code overhaul we did in 2018 on miner.farm and the PiMP server fleet.
 
2018 was a difficult and challenging year for many, as the radical crashes in the cryptocurrency market have forced many people to experience radical losses in their portfolios or the shutdown of their cherished mining rigs. Being with you every day and mining ourselves, we understand (better than most) the risks and pitfalls in the Altcoin and Bitcoin world. Having worked in this industry for so long we have encountered our fair share of unscrupulous individuals looking to cheat people out of their hard earned money. Thankfully, by collaborating with you, we can use best practices and share advice with one another and be safe and successful together. We also have seen this cycle before over the years, and while this one has been rough, crypto overall continues to succeed in mass market adoption and new, brilliant work can be seen every day. 
 
This is also why we aim to be as transparent as possible and promote open conversation and share tips for security and productivity. All of our staff are happy to talk to you at nearly any time, and available for open panel discussions on our Wednesday clubhouse calls. We look forward to a long and prosperous relationship together building the future of money and any freedoms that come from it. 
 
Your friends,
The PiMP OS Team

Doc’s Cryptomining Triage

As a member of the PiMP OS Support team, I take my inspiration for this column from all of the PiMP’s out there who find themselves in need of help. 

The problem is that PiMP OS is so easy and stable to use that there hasn’t been much need for any help to be given. This is a great testament to PiMP OS… not so great for me and this column. LOL  All joking aside, this is what PiMP OS is all about – being easy to use and, most importantly, being the most stable mining platform out there. Big props to the PiMP OS Staff and Dev Team.

Well, I can’t leave you all empty handed, so I’ve dug deep into my bag of support tricks to bring you this little gem: Did you know that PiMP OS allows you to easily run multiple miners on the same machine? (Yes, I know that veteran PiMP’s will already know this, but let’s go over some of the things that need to be taken into account when running multiple miners on a single rig… who knows, maybe it will help out a new PiMP OS family member.) 
 
Before we begin, let’s start by clarifying what I mean by running multiple miners on a single rig. We’re not talking about Dual Mining, where you run a single miner that is able to mine two different coins at the same time. What we’re talking about here is running two separate miners at the same time. Note:  PiMP OS does support dual mining, but this is a topic for another time.
 
When it comes to running multiple miners, the last thing we need to cover is the hardware. Running miners that use different devices (like a GPU miner and a CPU miner) is simple – just add both miners, edit their configs, and start them up. But what if you need/want to run two GPU miners?
 
Most miners will automatically try to use all available devices and this is where we can run into problems. You can’t run multiple miners on the same hardware at the same time. For example, if you were to fire up Cryptodredge on a rig with 6 nVidia GPU’s, it will run on all 6. If you were to then fire up another nVidia miner, it would most likely error out or even crash your rig as it tries to use the GPU’s that Cryptodredge is already using. Fortunately, most miners allow us to manually select devices.
 
What we can do is split up our GPU’s. Let’s say we want to run Cryptodredge on the first 3 GPU’s and Bminer on the last 3 GPU’s in our rig. Well, a quick look at the Cryptodredge and Bminer documentation tells us that they both support device selection. Cryptodredge is “-d, –device   List of comma-separated device IDs to use for mining. IDs are numbered 0,1…,N – 1” and Bminer is “-devices <value>  List of GPU devices that Bminer should run on.”  
 
With this information, we simply add these command line arguments to each of the miner configs in their respective “FLAGS=” section. Cryptodredge would get “-d 0,1,2” and Bminer would get “-devices 3,4,5”. Now, when we fire up both miners, they won’t be fighting over the same GPU’s.
 
Okay, PiMP’s, that’s all for this month, so until next time, you PiMP’s stay PiMPy!

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