Frequently asked questions

What is a mining rig?

Essentially a mining rig is a computer made up of several graphics cards (GPU's) that work together using their VRAM and CPU to validate transfers within the network of a cryptocurrency to obtain a reward.

The number of graphics cards and their power are limited by the other components of the rig: motherboard, power supplies. Allowing rigs with up to 13 graphics cards.

Their main advantages over ASICs are: lower power consumption, lower noise level which allows them to be installed at home and the possibility of mining a variety of cryptocurrencies.

Where and under what conditions to install a mining rig?

Before installing a rig, we must consider what conditions it needs to be in. A mining rig is based on several graphics cards and other computer components that generate heat, the more graphics cards we install, the more heat will be generated.

It is necessary to take into account that a rig in a flat or house must be in a room with a temperature of between 9º and 27º and must have an internet cable with a stable connection directly to the router or a switch.

The heat given off by the rig can be used in part to heat a flat or house as it is a heat source equivalent to a cooker of between 1500W to 2500W.

What cryptocurrencies and algorithms can I mine with Minando Voy rigs?

You can mine these cryptocurrencies among others:

RVN - RavenCOIN
ERGO
Bitcoin Gold.
Ethereum and Ethereum Classic.
Zcash
Monero
ZenClass and ZClassic
Pascal Coin.
Decred
Pirl
Ellaism
Ubiq
Expanse
Musicoin
Metaverse
Zencash
Electroneum
Bytecoin
Siacoin
LBRY

And algorithms:

NeoScrypt
CryptoNight
Equihash
Ethash
Pascal
Lyra2REv2
Blake

Should I become self-employed to mine cryptocurrencies?

The purchase of cryptocurrencies does not imply an obligation to declare them. in income. They only have to be declared when they are sold, so if no movement is made with the acquired currencies, there is no tax to be paid, as there is no gain or loss.

Cryptocurrency transactions should be included in the box 389 of the tax return.

The losses in the sale of cryptocurrencies will be able to to be compensated up to 25%. If the sale of cryptocurrencies results in a loss, these are offset against gains from other transfers, and if the overall result is a loss, they can be offset up to 25% against capital gains (if there are no gains, they cannot be offset).

The mining of cryptocurrencies does not imply self-employment. Mining cryptocurrencies means providing the processing power of the computer, helping to perform calculations and verifying digital currency transactions. As it is an economic activity that is assimilated to any other paid employment, even if it is paid in cryptocurrencies, it is mandatory to comply with the obligations that apply to this type of worker and to declare the earnings by filing form 720.

It is recommended to file form 720 in the event that the value of cryptocurrencies (or the sum of cryptocurrencies with funds or securities deposited in financial institutions located abroad) exceeds EUR 50,000.

In the case of being obliged to declare wealth tax, the value of the cryptocurrencies must be included at the time of the tax declaration and pay according to the applicable rate. This tax has a minimum exemption from 500,000 euros (this varies by autonomous community), which means that you do not have to file it unless you have a higher net worth.What happens after the entry of Etherum 2.0?

When Etherum makes the change from proof of work (PoW) to proof of stake (PoS),

will be of no consequence other than a simple change in the configuration of the rigs.

The mining operation of other cryptos is identical and their performance is sometimes even superior.

There are many alternatives to Etherum mining and the end of Etherum mining should not affect us when viewing a rig as a long-term investment.

Some of the examples are mining: TonCoin, Alephium, Ergo, Ravencoin, Flux etc.

In addition to Dual Mining options.

What is Dual Mining?

The name dual mining speaks for itself: it is a form of parallel mining of two different cryptocurrencies. A miner has to choose the first, the main coin and a secondary one. The increased load makes the workload for the GPU's higher, but the gains increase very noticeably between a 25% and a 40%. Which greatly decreases the payback time (ROI) of the Rig in addition to diversifying our bet in the crypto world.

There is the possibility of obtaining two different currencies at the same time using a single Rig, and it is the main advantage of this method that makes it very attractive for maximising the performance of the Rigs.

The most profitable combinations are currently dual mining of Etherum+Toncoin and Etherum+Alephium.