What are you doing with your bitcoins?

[trekin7]

Been mining for about 2 months and I was wondering what other miners or investors are doing with their coins? This is the "rule" I've set for myself, but I'm curious what other people are doing. Note that I've only mined and not purchased any coins.

50% of Coins: Cash out or spend on something I need.
50% of Coins: Keep as savings or invest in stock (ASICMiner Shares).

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[ekev]

A good question... would love to hear what others are doing.

I only started this week so I haven't amounted too many coins yet and still in the planning stage of what I really want to do.  At this point, the only people who have gotten rich are the people who sold me the equipment.  lol

[Birdy]

I am not mining and just recently got into Bitcoins, so cashing out isn't that great of an option yet.
At the moment:
~20% cold storage
Rest investing

[RushGPU]

Here's my plan.

Buy 1 BTC through MTGox (when/if I get approved).

Trade/mine until I can afford a better miner.

Then I'll mine/trade/invest, and save 50% of the profits.

[Chrithu]

So far? Not that much.

Idea is: Somehow make my way to 2 BTC. Then use that to get started with ASICS.

So far making that 2 BTC is the hard part. Mining wasn't worthwhile with my equip (2x 5750), thus I moved to visiting PTC Sites daily and doing tasks on sites that offer crowdflower tasks.

[OnLashoc]

Using to help rescue kittens from hoarders, etc.

[Amph]

in the future i will invest in some asic, when they will be cheap
for now i have only 0.50 btc

[xetsr]

I've been buying every chance I get. Saving them up. Once in awhile I will gamble or sell a coin or two but that's about it.

[maz]

Just saving,

I havn't seen anything worth buying with btc yet.

[HomieX]

Trade/mine until I can afford a better miner.

You mean like buying a new graphic card ??


/Homie

[CWO]

Well, I'm brand new to Bitcoin but I figure, if I make the money back on my new video card in 3-4 months, I'll be tempted to buy another and double my hashing power and see how that plays out. If it doesn't work out though, I'll at least have a couple new video cards that I could put to good use. I was in the situation where my old GeForce 9600GT just wasn't cutting it anymore so I bought a Radeon 7790 for mining/gaming. I'm currently dedicating the Radeon to 24/7 mining on an older computer that I also use as an NAS and as long as I see at least some reasonable gains from mining, I'll keep it there.

[BE Phoenix]

70% are in cold storage for savings
30% are for me to spend in the bitcoin economy... 

I've pretty much mentally checked out of USD so I'm really just waiting for the BTC economy to develop to live w/in it completely

We need more entrepreneurs!!

~BE

[phor2zero]

I initially bought 10 BTC with the intention of saving them. I ended up spending a few (Bitpay is awesome!). Then I invested a bunch in Cloudhashing (might make some income before my BFL comes in.). Just traded my 1BTC paper note to my brother in exchange for an electric bill payment.

[Sarcgasm]

Buying alt coins 

[cp1]

Here's my plan.

Buy 1 BTC through MTGox (when/if I get approved).

Trade/mine until I can afford a better miner.

Then I'll mine/trade/invest, and save 50% of the profits.

Use local bitcoins instead, much faster.

[tagged]

trying to get some 

just build my first miner yesterday, getting familiar with a couple altcoins and litecoin, will probably mine litecoins mostly, may trade to bitcoins, not sure

[bb999]

Saving them, I like the idea of mining because I can generate bitcoin at a relatively fixed rate once I know my equipment cost and electricity cost, then sit on them in a secure fashion and wait for the bitcoin ecosystem to develop more and benefit from the fixed supply/growing demand dynamic.

[Bitcointrrader200]

Investing in new business.
Coins are great, but a good business is better

[Cyberclones]

I ordered a asic the otherday so when that shows up I will start to mine with it. My short term goal is to pay that that one off then I will start to do a couple of things with the coins.
20% will go to investing to stocks
20% will go into cold storage
40% will go into new mining rigs, power for them etc
20% be used to by random things.

[tamacoinchi]

hoarding.  divided pretty evenly between bitcoin and litecoin at the moment.  was 100% litecoin before mtgox started having all the troubles

[Tedronai]

Step 1: Buy BTC
Step 2:
Step 3: Profit!

[bitcoinator]

I am currently hoarding all 100% of my 0.02008738 btc

[coolnt1]

I'm investing my .35 BTC in altcoins, made a nice profit. If I have enough to buy a better mining rig I will.

[austins]

Then I'll mine/trade/invest, and save 59% of the profits.

[octal]

hoarding.  both of them.

[bitcryptonit]

im trying to earn bitcoins where i can by selling stuff for example, and if something i can buy using bitcoins im buying. im just trying to switch to bitcoin where i can and not use fiat money.

[hadic]

Imho great place to spend bitcoins for everything else is bitmit.net. Today small auction server, tomorrow better than ebay with only 1,9% against 14% on ebay (eb fees + pp fees) 

[btcrich]

Buying Litecoins of course! 

[ryaath]

I plan on trying to get bitcoins, then i will decide what to do with them =)

[yogitea]

100% buy new stuff

[Mike Christ]

Gonna hold onto them for like a million years or something.  By then I'll be able to purchase the universe, I'm certain.

[cjellison]

I've been investing a third, allowing myself to buy goods with another third, then keeping the last third locked away (as if in a savings account).

[Kazzotron]

The only logical thing to do with anything thats rare.....
Hoard it



nah just kidding im using bitcoin as a timestamp service

[bruiselee]

I'm curious, when you guys say trade and invest - where do you go to do such things?

[cad_cdn]

investing in other currencies, LTC and FTC

[phoxpup]

I often buy PLA plastic for my 3D printer.  (No Guns - besides I can buy a much better fire iron at Walmart :-) )  I like to make lots of plastic trinkets and give them away.  This store takes BTC and looks promising.  I haven't bought any yet, but am planning to send some of my BTC profits (when I manage to make a profit) towards them.  (still learning the ropes)

http://www.ospwrd.com/

[DMTechie]

Spending them! 

Buying ASICs!

Probably going to buy an Avalon miner after I receive my two singles from BFL..

[Mnw]

Buy asicminer shares.
At the moment solid business and governance, great competitive positioning, first mover --> medium-long term good investment.

[JuneRabbit]

hoarding.  both of them.

[rtt]

hoarding.  both of them.

       

[acs26]

I have no idea. I spend them on things I need at the moment, and also save some.

[Stampbit]

I can tell you what people are not doing with bitcoins -> spending them (on legitimate things).

[NewLiberty]

Bitcoins are good money.  Good money gets saved while bad money gets spent.
When you run out of bad money, and you want to spend, then you spend some good money.

When I spend bitcoins, I like to spend them with people who are doing something meaningful and with which I am ethically aligned.
Greed doesn't impress me as much as getting something done.

[giligon]

~20% cold storage
Rest investing

[bitemaster]

Just saving

[ScottJD]

At the moment - Just buying them, going to load up to around 10BTC then sit them in cold storage.

[werauchimmer]

I spend them on coffee and cake. Seriously, there is a coffee place right around the corner from where I live that accepts bitcoin. (Berlin, germany, in case you wonder.)