How much is bitcoin income taxed

1. Firstly, the cost of bitcoin mining can be divided into three parts:
1. Machine cost: the cost of purchasing mining machine
2. Power cost: the power cost consumed by machine mining
3. Auxiliary costs: personnel maintenance, network, cable consumables, heat dissipation, etc.
for a simple example, take the mining machine of ant S9, which consumes less power on the market, for example, the calculation power is 13.5T, and the power consumption is 1400W
when the mining machine runs for 24 hours: 1.4kw * 24 = 33.6 degrees
Shenma m3, which consumes more power on the market, has a calculation power of 11.5t, The power consumption is 2150w
under 24-hour operation, the power consumption of a single machine is 2.15kw * 24 = 51.6oc
which is roughly equivalent to the power consumption of energy-saving air conditioning, but the bitcoin miner needs 24-hour uninterrupted operation, the power consumption of a single machine is very large after a year's calculation, and the step price cost of household electricity is too high, When the market is not good, the income may not be enough for the electricity expenditure, so at present, mining will choose to be hosted in the mine, which can get cheap electricity and rece the cost price of mining. The price below 30% is the ideal price, which can keep the price of bitcoin falling to a low level, and there is still some income< According to the current mining difficulty of bitcoin:
BTC revenue per ton: 1th / s * 24h = 0.00007087btc
calculated by the comprehensive 12t machine computing power, the daily output is:
0.00007087t * 12t = 0.00085044btc
then the time required for a single machine to dig a BTC:
1 / 0.00085044 = 1175 days
the time required for ten mining machines to dig a BTC:
1 / 0.0085044 = 117 days
100 days In other words, according to the current difficulty, it takes about three years for a single miner to proce a bitcoin, 3.9 months for ten miners to dig a bitcoin, and 11.7 days for a hundred miners to dig a bitcoin. The cost of a single miner is about 8500, Ten are around 85000, one hundred is 850000, less than one million, and one month's income is more than two bitcoins. According to the current price of bitcoin, the price is about 120000. So, although the income of bitcoin mining is not as good as before, it is still considerable compared with other investment projects
however, these benefits do not include decting the cost of electricity charges and later maintenance of machines, so the premise of mining is to find a mine with low electricity charges. If the quantity is large, we need to find a safe, reliable and stable mine. What's more, we need cheap electricity to lower the cost price.

2. Bitcoin, is it a little late for you to participate now! In the early days, people didn't pay attention to bitcoin at first. Later, under the social and other purposes of hype, the value of bitcoin soared. Recently, bitcoin seems to be in a state of collapse. Bitcoin is a good tool for money laundering. Now you are doing the final takeover when you participate in bitcoin. I would like to advise you that it is more and more difficult to take part in risky things. One is your capital. The other is that you know it's too late,

3.

According to the regulations of notice 2014-21 of the IRS:

1. The information range of virtual currency payment is consistent with that of other property payment

2. Virtual currency paid to service providers and independent contractors should be taxed, and the tax rules of freelance also apply to virtual currency. Taxpayers usually have to get form 1099-MISC

3. When using virtual currency to pay wages to employees, they must also pay taxes, and they also need to pay federal income tax and payroll tax

4. The third party accepting virtual currency settlement payment on behalf of the merchant must report the payment status in form1099-k, payment card and the third party network dealer

5. Based on the fact that the virtual currency in the hands of taxpayers is a kind of capital asset, the gains or losses in the transaction of virtual currency and the sales of virtual currency need to be taxed

extended information:

legal status of bitcoin in China

in China, the regulations on the administration of RMB prohibit the proction and sale of token tickets. Because there is no clear judicial interpretation of the definition of token ticket, if bitcoin is included in the "token ticket", the legal prospect of bitcoin in China will face uncertainty

the notice of the Ministry of culture and the Ministry of Commerce on strengthening the management of virtual currency of online games (Wen Shi Fa [2009] No. 20) on June 4, 2009 stated that the application scope of virtual currency of online games was defined for the first time, and the distinction between the current virtual currency of online games and the virtual props in the game was made; At the same time, the notice said that the "notice" stipulates that enterprises engaged in related services must be approved before they can operate< br />

4. A wise man once said that once a man is born, he cannot escape taxes and death. However, when the concept of bitcoin was proposed, there was a glimmer of hope that most of us thought we might be able to evade taxes. Unfortunately, this was a flash in the pan, as the IRS decided to tax virtual currency holdings. Now, bitcoin is regarded as an official asset by various government agencies in the United States, so it has to pay taxes
How do we know what should and should not be taxed? Now, we have some experts who can help us understand, but if you are involved in cryptocurrency and live in the United States, it will be easier. Laura shin is such a kind and helpful person. She explains how to deal with digital currency and the IRS when it comes to taxation. Her article in Forbes clearly explains the different sources of bitcoin and digital currency. First, all digital monetary assets are regarded as capital assets like stocks and bonds. The IRS calls cryptocurrency an asset in its guidance 14-21
there is only one way to own digital currency or spend it, and that is to start mining. If you succeed in mining some bitcoin, any block reward you may get depends on the amount of bitcoin you get and the market value at that time. It's very important to have the right record, because the value of bitcoin is bound to fluctuate, and you never know how much bitcoin is worth when you pay taxes. The calculation of tax depends on whether it is a long-term or short-term capital gain
do you get a return in bitcoin? The good news is that if you try to save some, and the price of bitcoin goes up, your salary could double. The bad news is that you'll pay income tax on wages and VAT on assets that hold the subsequent gains in bitcoin. However, it is best to record the actual value of legal tender when payment for services is received
if your salary is paid in the form of bitcoin, you may want to spend some in the form of bitcoin itself (for others who own bitcoin by any means). The expenditure of any bitcoin is equivalent to the sale of assets, and the gain or loss will occupy the holding period. So in order to find out the holding period, people have to know which bitcoin they are selling and when they receive a special bitcoin, which is almost impossible unless you use a new wallet for every transaction. A better way is to have a set of predefined rules for all bitcoin revenues and expenditures. Laura suggests the implementation of LIFO or FIFO accounting methods
if you give or accept bitcoin as a tip or gift, it is best to publish or ask for information about the cost base and date of digital currency. If this could be done, it would be easier to calculate capital gains. Otherwise, in the absence of information, people can always explain it in terms of income and get out of trouble. If you are donating to a registered charity, the digital currency unit income from the donation can be written off from the account, which is not taxed. Laura suggests using digital currency donations to rece taxes
when trading bitcoin, it is wise to keep a record of the fair market value on the date of the transaction. If a trading platform or transaction issues a 1099-b report, this will help record the profit and loss. These suggestions will come in handy for those who are already working on bitcoin and want to know how to track the gains and losses of their digital currency.

5.

Win10 enterprise LTSC is the best

win10 enterprise LTSC is also known as win10 enterprise 2019 long term service version. This version is considered as the best win10 version at present. On the basis of win10 enterprise 2016 long term service version, Microsoft has done a lot of optimization and upgrading. Win10 enterprise LTSC is faster and lighter

4, win10 ecation version

is mainly based on the enterprise version, which has advanced functions. It will be provided to customers through the volume licensing program for ecational institutions

6. I don't know, but this company hasn't heard of it. I suggest you go to the field to have a look. After all, many of the current development companies are also famous for blockchain, but their own technical strength can't keep up. In order to prevent being cheated, I suggest you go to the field and compare several companies

7. The revenue of bitcoin is based on bitcoin every day. The rise and fall are calculated. If it's long, it's positive. If it's down, it's not. Haha, I suggest that my friends try not to play for him, because the price of bitcoin is very high now. If you buy it now, it's the order taker. It's going to hold you tight. And you'll lose a lot of money. So stay away from bitcoin. hey

8. Bitcoin trading and trading in China are illegal and non-conforming
now trading is purchased through the non regulatory exchange platform, so there is no need to pay tax for the time being
there is no standard and no place to pay

9. The 20 times full position contract is equivalent to that you use 100 yuan to buy 2000 yuan bitcoin, increase 10 points, your income is 200 yuan (+ 100), the next day your account is 300 yuan, continue to 20 times full position, increase 10 points, your income is 600 yuan (+ 300), and so on,
but if you drop 5 points, your principal will not burst.