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Author Topic: Does miners dump thier mined coins?  (Read 856 times)
target
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March 01, 2017, 04:17:53 PM
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Would you to dumped the coins you kept mining for months even after seeing the price isn't worth compare to the electricity bill you have been paying. I do think you'd find it wasteful but would you rather wait for its price to go up so that it will be worth or just dump to mine some other coin?  Like if you mine XMR when the price is above $15 but now that its under %15 would you sell them still because after all you can mine another later.

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djm34
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March 01, 2017, 04:48:53 PM
 #2

it has worked that way (and even worst) for a long long time...

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March 01, 2017, 04:56:59 PM
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Would you to dumped the coins you kept mining for months even after seeing the price isn't worth compare to the electricity bill you have been paying. I do think you'd find it wasteful but would you rather wait for its price to go up so that it will be worth or just dump to mine some other coin?  Like if you mine XMR when the price is above $15 but now that its under %15 would you sell them still because after all you can mine another later.
For some miners like me who pays very low electricity ,it's always dump,dump,dump sorry Smiley we are mining for daily profits and it's always profitable for me to not hold any coins, who pays a decent money on bills i think he must hold for better prices.
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March 01, 2017, 05:50:23 PM
 #4

I'd say depends on coin and your situation. Most miners are looking for fastest ROI and they are just dumping as soon as possible. Others that want to hold shouldn't chose coin like Zcash for example because it's kinda fucked already it's just matter of time.
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March 01, 2017, 05:57:34 PM
 #5



Would you to dumped the coins you kept mining for months even after seeing the price isn't worth compare to the electricity bill you have been paying. I do think you'd find it wasteful but would you rather wait for its price to go up so that it will be worth or just dump to mine some other coin?  Like if you mine XMR when the price is above $15 but now that its under %15 would you sell them still because after all you can mine another later.
For some miners like me who pays very low electricity ,it's always dump,dump,dump sorry Smiley we are mining for daily profits and it's always profitable for me to not hold any coins, who pays a decent money on bills i think he must hold for better prices.
which definitely justifies the end of open source miners (for guys like us Wink )

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March 02, 2017, 02:06:05 AM
 #6

I treat this as a hobbie, and a hobbie that pays for itself is a wonderfull thing.

I have a decent job, so I don't do this for instant income.

I started mining again only this year and its a whole new ballgame since the early years.

I played around with bitcoin when it first came out, I was not serious about it because it was new but VERY interesting and had very little value when I dabbled in it on a couple of pc's.

It was a tough time for me, divorce and health issues and after a few months I moved on to other things.

If I only knew...........I would have never formated and gave those pc's away or re-purposed them for other things.  Cry

But it was quite a while before Bitcoin was anything more than novelty, but I still watched with fascination or maybe utter horror that the value skyrocked. LOL

So this is my mindset now, I keep what I mine in crypto currency and I mine for the future hope of the increased value and as long as I treat my spending on hardware as a hobbie and expect nothing in return except to learn a thing or two i'm happy.

I'm sure I will buy and sell coins to end up with the ones I am interested in.

Sure is more interesting than running Seti@Home and hopefully more profitable.
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March 02, 2017, 02:14:05 AM
 #7

I do not plan to unless price starts to take a big dive than I will sell and buy back when it's hit bottom again as it will rise again!  Ethereum when the DAPPS start to really get released should cause another major rise so it's time to hold not sell.
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March 02, 2017, 04:22:57 AM
 #8

I not hold mined coins. Instantly sell them at market price.
Price can move both up and down.
A bird in the hand is worth two in the bush.

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March 02, 2017, 04:24:35 AM
 #9

Most of the coins I mine I collect. But Zcash mining income I Sold dayly on Poloniex for real btc.

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https://www.genesis-mining.com
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March 02, 2017, 06:10:48 AM
 #10

Most of the coins I mine I collect. But Zcash mining income I Sold dayly on Poloniex for real btc.

I was actually expecting miners to keep the coins for long term because from what I have observed most of the coins that are mined through GPUs rise up with considerable value for keeps. Which lead me to believe ARGUS could be something to keep as well.  If investors see that its better to just stick to those kind of coins than the ones funded and turned DPOS, they may put more money to coins like XMR, DASH and of course BTC.

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March 02, 2017, 06:22:47 AM
 #11

I have been dual mining with ETH , dumping the extra coin every one or two weeks and keeping the ETH.

I made a spreadsheet since the start of November  to monitor my profits and guess what , each RX470 Hynix produced 1.75$ per day worth of ETH(from end of November to date ), and about as much ZEC (also around 1.6$ per day per GPU from Zec release to end of November) but this time with mining and dumping .

If i sell my ETH today then  i will  made ROI for all my GPUs bought in November , that is 4 month ROI , Also the extra coin is payed almost 70% of my electricity Bill .
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March 02, 2017, 10:51:36 AM
 #12

I not hold mined coins. Instantly sell them at market price.
Price can move both up and down.
A bird in the hand is worth two in the bush.

I usually put them 10% higher than the market price. If they sell, that is good.
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March 02, 2017, 12:05:38 PM
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Would you to dumped the coins you kept mining for months even after seeing the price isn't worth compare to the electricity bill you have been paying. I do think you'd find it wasteful but would you rather wait for its price to go up so that it will be worth or just dump to mine some other coin?  Like if you mine XMR when the price is above $15 but now that its under %15 would you sell them still because after all you can mine another later.

I mine ZEC so I never dump, if I was mining ethereum litecoin or Monero I'd dump. Might as well just use Nicehash if you want to dump, save exchange fees and have one of the fastest miners.

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March 02, 2017, 03:00:05 PM
 #14

Guys, I have really weird problem with my 6x zotac gtx 1070, my rig would just restart itself after awhile (range from 5 minute to few hours).

my PSU is Corsair 1200watt platinum and I already changed to another working PSU and it will still have the same problem. Any idea what might be the problem?

Thanks

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March 02, 2017, 04:19:09 PM
 #15

Guys, I have really weird problem with my 6x zotac gtx 1070, my rig would just restart itself after awhile (range from 5 minute to few hours).

my PSU is Corsair 1200watt platinum and I already changed to another working PSU and it will still have the same problem. Any idea what might be the problem?

Thanks

What is your power draw? Remove one gpu an see if it helps
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March 02, 2017, 04:32:52 PM
 #16

Guys, I have really weird problem with my 6x zotac gtx 1070, my rig would just restart itself after awhile (range from 5 minute to few hours).

my PSU is Corsair 1200watt platinum and I already changed to another working PSU and it will still have the same problem. Any idea what might be the problem?

Thanks

What is your power draw? Remove one gpu an see if it helps

I just notice that I posted in the wrong thread haha.. but yeah thanks for the advice, will test for couple of hours..

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