Chapter 9
Running Your Cryptocurrency Business
IN THIS CHAPTER
Finding out what to do with your cryptocurrency
Timing your entrances and your exits
Understanding the dollar cost average theory
Getting familiar with mined cryptocurrency tax liabilities
Determining when to scale up or upgrade equipment
Once you’re in business — you’ve determined what cryptocurrency to mine, deployed mining equipment, and have collected rewards back to your cryptocurrency wallet — the next issue to deal with is what you’re going to do with your cryptocurrency earnings.
In fact, you have a variety of things to consider. You need to watch the market conditions for the cryptocurrency you’re mining and others that you may consider switching to. You also need to understand the tax liabilities incurred during your mining adventure — both keeping your cryptocurrency and selling your earnings will have implications. (As Ben Franklin said, nothing’s certain but death and taxes!) We also discuss scaling up your ...
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