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Question: What do you do with your BTC that you mine?
Keep it all
Sell only to cover the power
Sell to cover power and recoup investment, keeping everything above that
Cashing out everything as soon as possible
Spend directly as BTC
Delete my wallet.dat because this town deserves a better class of criminal!

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Author Topic: Mining to hold or sell?  (Read 4097 times)
Jack of Diamonds
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June 26, 2011, 01:27:45 AM

I am mining until I can get at least 10 Bitcoins together (which seems like it will take months). I will turn it into USD as quickly as possible, and of course, repeat the process.

The only problem being; Repeating the process months down the road will take 5-10 times longer than it did the first time around.
This strategy seems pretty obsolete, the only thing that makes sense for small miners is to wait for the price to climb up substantially.

If you just sell everything you earn at current spot rate (maybe 0.20btc per day for a small miner)
your income will just keep getting lower & lower until you can't generate anything & have no BTC left,
so all you have is your hardware, no bitcoins, and no chances of generating any bitcoins.

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June 28, 2011, 02:46:02 PM

Cheesy mine mine mine mine mine mine mine Cheesy
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