Bitcoin Forum

I know this might be hard to estimate, and the numbers are skewed by the small history of bitcoins, and the choices are rather granular, but I thought this might be useful.

What I am looking for is the velocity of bitcoins through us. By knowing the velocity of a typical user, we can then estimate what effect adding more users will have.

Think of your entire history with bitcoins, try to roughly estimate the length you held an average bitcoin from the time you received it to the time you spent it.

For example:

- if you send all your bitcoins immediately to an exchange to sell or when you buy something with bitcoins you buy just enough for that purchase, then you would pick "1 hour"
- if you mine bitcoins and once a week send all your earnings to an exchange and cash out, then you would pick "1 week".
- if you bought 2 bitcoins a couple months ago, spent one immediately and are still holding the other, then you would pick "1 month"
- if you have a huge stash from a couple years ago, and you buy small amounts and spend small amounts then you would pick "1 year" since the bulk of your holdings is longer term.

I plan to hold until Bitcoin is fully adopted as online currency or dead. It's kinda lottery ticket stuff that way, losing never hurts  ::)

This is the way I have talked about it to people.

They spend money on lottery tickets, when a well timed $5 purchase into bitcoins could achieve a similar end.

Same here. Im holding at least until I can purchase goods and services easily with bitcoin

Signed.

If it dies, I would not mind having a piece of history.  If it succeeds, it sure as hell beats a loaded bank account.

From a miner perspective, or a bullish market player perspective?

I will buy things with my bitcoins.

As for big "sells"...I will some day pay off my house with a small portion of my bitcoins. Hopefully before that happens I can find a mortgage company that will take payments in bitcoins.

I'm holding until there is stability or I can afford to buy that private island in the tropics.

+1

I'm preparing a website that will show charts of how many bitcoins in the system are being held unspent and how old are they.

How would you convince aborigines chief to give you that island? You show him your paper wallet instead of glass jewelry??

And he say "hmmm fire kindling"

Forever, and ever, you'll stay in my wallet and I won't spend you!!!

https://www.youtube.com/watch?v=KtBbyglq37E

For the longest time. (http://www.youtube.com/watch?v=NG1qooBzE2w)

i've purchased for the long haul.  no brainer for me.  even if we crash down to $1 (not happening) i'll hold and six months later they'll be at $500

That's an alarming amount of cheese lovers on this site.

Agreed. Though unlike lottery tickets it's a classical black swan bet, as you can't know the odds, the downside is limited and and the upside is unlimited.

Don't worry, I also hired software development and paid in BTC; exactly what BTC is meant for. Fast enough, no hassle, no blockades. Will do it again if needed.

I am not sure I understand your question? This does not really have anything to do with mining, and little to do with the bullish market, it is more of a retrospective look at your previous bitcoin actions. However you got the bitcoins in the past, on average, how long did you hold onto them before you sold them/spent them/lost them?

Best answer.

I'm considering to sell a percentage of my bitcoins to diversify my assets, but will not do so until a coin is worth around $2500.

Exactly!

Hell, one is gambling by *not* holding bitcoins!