New editing PC

Andrew Moore

Andrew Moore

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Well.. I actually use a 12.9” iPad Pro 2017 with affinity and a few other programs however it isn’t quite as full on as photoshop and 95% useful isn’t 100%!! The problem however is that any video editing is borderline impossible so I’ve created a new PC.

I’d recommend going down this route if your impatient like me as this has quite literally blown me off cloud 9 and into some other worldly dimension!

Windows 10 pro
I7 8700k at a safe and steady 4.9ghz 6/12.
Z370 board
256gb nvme ssd (over 3ghz read)
16gb of 3000mhz ram running at around 3400mhz
750w PSU
Basic all in one cooler.
2x 12GB Titan Xp GPUs.

I purchased clever and spent around £2k when a system of similar spec would no doubt cost in excess of £5k if purchased through an SI.

So what’s the point of this post I hear you ask? The point is quite basic really. Plan a budget, take your time, check out OEM and graded parts and haggle even with online shops as you may just about get twice as much, if not more for your money!

The best bit? It mines crypto currency at a rate of around £270 to £300 a month so should net me a free machine in as little as 6 months, maybe less if currencies improve after CNY.

Anyone else running similar and if so, are you on the crypto wagon too?
 
How much electricity is that running at and how many hours a day does it need to be on to make £300 a month.

Sound too easy, nothing is easy
 
It’s on 24/7 and it uses £23 a month more being on 24/7 than just being used for 50hours a week working.

So a good £260 profit in theory although I would hazard a guess that if the bottom falls out of crypto it may not be worth it at all really.

Heating bill downstairs is also reduced as this thing can get warm!
 
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What's the thinking on 2x 12GB GPUs ? Photo editing (certainly in LR) doesn't use GPU acceleration, so unless you're seriously into gaming, it seems a little overkill.

Also, what are you using for the crypo-mining?
I presume that the software is clever enough to throttle back when you want to use the processing power for something else.
 
ABTog said:
What's the thinking on 2x 12GB GPUs ? Photo editing (certainly in LR) doesn't use GPU acceleration, so unless you're seriously into gaming, it seems a little overkill.

Also, what are you using for the crypo-mining?
I presume that the software is clever enough to throttle back when you want to use the processing power for something else.
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I think there more aimed at the crypto mining than anything photo editing related.

My 2 pennies worth - why Titans when a 1080Ti can mine just as well but be more power efficient
 
neil_g said:
Bloody crypto miners. My Gpu has just packed up and even for a second hand 980 it's cost me a fortune.

That and the cost of ram right now it's a terrible time to build a pc.
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Its been bad ever since SSD and DDR4.

So much money going on just RAM and storage.

Plus CPU`s have not actually moved on all that much, I'm still running gen 2 and 3 i7 cpu`s and they are still good
 
I agree that those who are purely mining have pushed prices up signicantly. Titans are the same price as 1080Ti now, have more vram, are slightly faster and will hold a better re sale value. That and the fact I got a pair for about £100 more than a single new 1080ti (see OP, whole system came in circa £2k).
 
ABTog said:
What's the thinking on 2x 12GB GPUs ? Photo editing (certainly in LR) doesn't use GPU acceleration, so unless you're seriously into gaming, it seems a little overkill.

Also, what are you using for the crypo-mining?
I presume that the software is clever enough to throttle back when you want to use the processing power for something else.
Click to expand...
The iPad does 95% of what I need for photo editing so for those files that bug me because I feel they aren’t right, I can slam them straight in to the pc and do them there. The cards however come in to their own for video editing, rendering etc that’s what the PC is for as the iPad is borderline useless at it.
The software is clever enough that it throttles back but I can turn it off easy enough if I want to game etc too!
 
What’s the tax liability for bitcoin mining? I see in the news today they HMRC are going after the capital gains from selling them.
 
sphexx said:
What’s the tax liability for bitcoin mining? I see in the news today they HMRC are going after the capital gains from selling them.
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Exactly what you just said - capital gains when you sell.
 
onomatopoeia said:
Exactly what you just said - capital gains when you sell.
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I see how that works when you buy and sell them, obviously, there is but does that apply to the “mining” too?
 
sphexx said:
What’s the tax liability for bitcoin mining? I see in the news today they HMRC are going after the capital gains from selling them.
Click to expand...

onomatopoeia said:
Exactly what you just said - capital gains when you sell.
Click to expand...

sphexx said:
I see how that works when you buy and sell them, obviously, there is but does that apply to the “mining” too?
Click to expand...

The thing is, if you mine you haven’t purchased so there is no “capital gain” associated with it but it wouldn’t surprise me if they list mining as an self employed status the way they are going!

As for them being purchased, are they really going to police everyone’s bank accounts for various bitcoin and other crypto currency web site transaction? What judge is going to sign off on that breach of privacy?!?
 
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Andrew Moore said:
The thing is, if you mine you haven’t purchased so there is no “capital gain” associated with it but it wouldn’t surprise me if they lost mining as an self employed status the way they are going!

As for them being purchased, are they really going to police everyone’s bank accounts for various bitcoin and other crypto currency web site transaction? What judge is going to sign off on that breach of privacy?!?
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I was trying to think of an analogous process. What about gold mining or rather just picking up gold nuggets off the ground as they do in Western Australia? There are costs involved such as transport and metal detectors but I suspect people are taxed when they sell the gold — but I don’t really know :(
 
Just to add, if you then do mine coins, and the coins increase in value from the day mined then in theory you could apply capital gain tax to that.

I’d just argue that the mining equipment is as such a business expense alongside the electricity, internet and even office or garage space or both within the home. That would more than offset the 20% tax and 12% NI tax if it did come to requiring filings like that.
 
Andrew Moore said:
The thing is, if you mine you haven’t purchased so there is no “capital gain” associated with it but it wouldn’t surprise me if they list mining as an self employed status the way they are going!

As for them being purchased, are they really going to police everyone’s bank accounts for various bitcoin and other crypto currency web site transaction? What judge is going to sign off on that breach of privacy?!?
Click to expand...
Judge? Youre not aware of the existing gradual erosion of our rights, especially when it comes to tech and the internet... They try and railroad legislation these days.

Id be amazed if there wasn't some hmrc applicable rules on bitcoin.
 
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neil_g said:
Judge? Youre not aware of the existing gradual erosion of our rights, especially when it comes to tech and the internet... They try and railroad legislation these days.

Id be amazed if there wasn't some hmrc applicable rules on bitcoin.
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Haha! Cynical but true! I try not to think about my rights and just treat them as what they are, an illusion.
 
Andrew Moore said:
I agree that those who are purely mining have pushed prices up signicantly. Titans are the same price as 1080Ti now, have more vram, are slightly faster and will hold a better re sale value. That and the fact I got a pair for about £100 more than a single new 1080ti (see OP, whole system came in circa £2k).
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Care to share where you managed to get the two video cards for a good price from?

My son is heavily into gaming and has a birthday in 3 weeks time. He has hinted that he would like a replacement for his current graphics card, but all the prices I've seen on-line are just silly and others have waiting times in weeks or months...
 
It’ll be too hard to regulate. Unless your earning hundreds of pounds a month and thousands a year they will find it difficult to follow. It’s the main miners warling thousands upon thousands that will be caught out.
 
Andrew Moore said:
The thing is, if you mine you haven’t purchased so there is no “capital gain” associated with it but it wouldn’t surprise me if they list mining as an self employed status the way they are going!
Click to expand...
There is a capital gain, the sale price minus the cost of acquiring, which is the cost of mining.
 
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