Bitcoin Forum

Hi guys, I'm an old newb (lol  :) ). And I'm trying to understand bitcoin better before I jump in with both feet and significant cash.

One thing I'm a bit unclear of is what percentage of the total btc transacted is made of freshly mined bitcoins. Right now I haven't the foggiest idea. I don't even know if it's possible to figure it out, but I'd like to try via this poll. If you could click an answer I would appreciate it. I'm only looking for a rough estimate, so please click on the answer corresponding to what you do with the majority of your mined btc.

A simpler way of asking this would be, why do you mine? (fun aside :) ) To spend or save?

Thanks in advance!

I voted spend. I try to save a bit, but as with other currencies, I am better at spending than saving :D.

 I try to fund my bitcoin "farm" expansion solely with bitcoins mining revenue. Electricity cost is not a factor for me, so anything I mine is profit, I spend most of that in acquiring more mining hardware. Started with a single 4870 (yes, ouch), now I have ~2 GH spread over 3 machines with ample empty PCie slots, that I plan to fill in the next months. This way, I cant really lose. If bitcoin value plummets, I still have hardware thats worth something. If it explodes, Ill be able to generate some actual revenue until difficulty catches up, and some coins saving.

Invest. (spend?)

hoard :)

I'll always save a few (for the "just in case" they ever explode in value into the $1000+/ea)
 
But otherwise I spend them on new gaming equipment, since it's so much an unknown right now, I like getting physical things.  Tangible things have more value to me than money of any kind.  It's why rich people love inflation... it props up their assets. :)

Not sure what you me by "freshly minted".  Only solo miners, 2pool & Eligus pool miners would have "freshly minted coins". Anyone in a "normal" pool gets paid in used coins by the pool operator.

nope
in p2pool you get mined coins
in the gui they show up as mined, and in block explorer as "generated"

Um see bolded portion.

I edited the text to make it a little more clear.

heh. i guess i missed it :)

Right now? Saving some, and paying bills and loan.

After that, probably going 33-33-33.
33% to reinvest in the business.
33% in a fund or something.
33% in our pockets.

We don't see mining as a hobby, but as a business, and we want to build a legitimate business.

 Buying The Bitcoin Mag.
 https://i.imgur.com/3g6zY.jpg

You forgot an important option:  SELL.

Which is what I do with most of mine.  I have to pay the electric bill somehow, after all.

Pardonne moi? Spend it is the same as sell. No?

save all of them and then sell them when the price seems right

Save it / speculate on bitcoinica to make it more (less) :D

I am buying silver!

i gamble with it :(

Yeah, it's probably the best way of stopping the production of silver bullets.  ;)