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If you're mining in a pool, you should have a record of when you got each fractional allocation of Bitcoins. You could then look up the Bitcoin/USD rate at that
by mbreese 13y ago
If you're mining in a pool, you should have a record of when you got each fractional allocation of Bitcoins. You could then look up the Bitcoin/USD rate at that time from historical data at one of the exchanges. This is going to be one very large spreadsheet.
One benefit is that you can probably batch rounds together and only count the bitcoins as "realized" when they are sent from the pool to you (at payout). This way you won't have to figure out the rates for each shift.
- Consultant32452 13y agoTheoretically you could probably choose any arbitrary price on the day you "receive" the bitcoins.. which given the nature of bitcoin price fluctuations could be significant.
- mpyne 13y agoYes, but as long as the way you pick that price is reasonable at estimating fair market value and consistently applied that shouldn't be a big issue.