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This crypto currency boom hasn't really hit the UK I guess...

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  3. This crypto currency boom hasn't really hit the UK I guess...

User Info: richisdisturbed

richisdisturbed
7 months ago#1
So seeing the price boom on parts over in the US because of the mining hype, I decided to take a look 'round my local PC shops.

Went to 3 different stores, saw at least 80 1060/70/80/80ti's all just sitting on the shelf at the standard RRP for each model.

Madness, why don't you guys just import? Or do you get taxed out your arse when importing like here in the UK?
Idiots voting for idiots.

User Info: captsplatter_1

captsplatter_1
7 months ago#2
Its possible the taxes offset it or who knows. But the reason for being available is because everyone is worried about Brexit. My guess.
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User Info: lubmelubyou

lubmelubyou
7 months ago#3
Could be because the cost of electricity is so high that mining isn't profitable.
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User Info: xKynOx

xKynOx
7 months ago#4
Its easy we get taxed if we mine, we are not taxed if we buy them so guess what we buy them.

If someone is mining bitcoins then HMRC regards this as a trade and will charge any profits to income tax and national insurance.
I'm cheap
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User Info: captsplatter_1

captsplatter_1
7 months ago#5
xKynOx posted...
Its easy we get taxed if we mine, we are not taxed if we buy them so guess what we buy them.

If someone is mining bitcoins then HMRC regards this as a trade and will charge any profits to income tax and national insurance.

Hmmmmmm. Should tax it here in the states, then boom, no more miners.
PSN: captsplatter & Gamertag: OGcaptsplatter &
Switch FC: SW-3078-9578-8685 & Steam ID URL: http://steamcommunity.com/id/captsplatter NO BLANK REQ.

User Info: R_Jackal

R_Jackal
7 months ago#6
captsplatter_1 posted...
xKynOx posted...
Its easy we get taxed if we mine, we are not taxed if we buy them so guess what we buy them.

If someone is mining bitcoins then HMRC regards this as a trade and will charge any profits to income tax and national insurance.

Hmmmmmm. Should tax it here in the states, then boom, no more miners.


Sounds like the US is playing the good old "We didn't say we didn't tax it" game and going to hit a lot of people with back taxes, last I heard.

User Info: LazyyAmerican

LazyyAmerican
7 months ago#7
But...but....the economy is great now!
You've got ten minutes. There's policies even your section have to follow
I'll be sure to forward your message to the president.

User Info: Alisa

Alisa
7 months ago#8
Neither in Australia.
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User Info: rpgian

rpgian
7 months ago#9
Consumer is almost never hit with an import tax. We pay out the rear to ship anything overseas and somehow the Chinese and US gov. can subsidize a steel safe to be shipped to America a single buck but if I wanted to mail anything over an oz it's $5-10 and 100$+ if it gets any weight on it.

I've never bought from UK (never winds up cheaper by the time the currency converts) but I imagine shipping would be similar in steepness. Our laws want me buying China, and not sending anything out of US, except maybe sometimes to Canada, if they behave.

User Info: ninjabeaver1

ninjabeaver1
7 months ago#10
lubmelubyou posted...
Could be because the cost of electricity is so high that mining isn't profitable.


This. A colleague of mine ended up resorted to mining ETH in our company's server room.
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