Is there any miner who have not sold any bitcoin from the beginning?

[Little Mouse]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

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[Dhoe]

all the projects that we hold, all the companies they build, and whatever their work definitely requires capital, in opening a new business, I am very sure the miners must sell a little bit of their bitcoin, to provide for their family, family and needs for themselves, They have to pay workers salaries, electricity bills etc..

[mk4]

Satoshi was technically a miner. And as far as we know, he most probably hasn’t sold any bitcoin. :p and it’s safe to assume that there were some old school miners that hasn’t sold much of their holdings too. But if we’re talking about not selling 100%? Besides Satoshi, quite unlikely I think.

[Kong Hey Pakboy]

I assume that there's no miner who haven't sold their bitcoin since the beginning of their mining journey but they might have some bitcoin lect that they plan to hodl for a long time. The reason for my assumption is because mining is electricity hungry so probably they have to sell those bitcoins because they need to have money to pay for the bills. I might be wrong and there's someone who did what I thought was impossible, I like to be proven wrong.

[cotton ball]

no miners keep all their mining products, all miners definitely don't keep all the results they mine, because they are not robots who don't need to eat and drink, don't need houses, vehicles etc.,, they must sell a little bit of their bitcoins for their needs everyday, buying a house, buying a car, going shopping, etc..

[cabron]

Hard to see if there is someone who hasn't yet sold. When the price of Bitcoin goes more than $1000 back in the early pump bullrun of BTC, I'm sure they have sold when with huge profit to it. 50BTC per block is already $50K, anyone with bills to pay would be tempted to sell them all. But if there is still someone who kept it for years, then he really has the diamond hands. It can be sold as Virgin coins right?

[pooya87]

It depends on the size of the operation, a big mining farm for example that has a much bigger cost has to sell bitcoin to cover those costs because they can't keep paying out of pocket but smaller operations like individuals mining at home with an ASIC or two could easily afford to pay their electric bill out of pocket without having to sell their bitcoin reward to cover their costs but at the same time they earn smaller amounts.

And obviously as mentioned a lot of the early adopters who were also mining bitcoin haven't sold their bitcoins. In fact a lot of the coins that people guess belongs to Satoshi actually belong to a lot of early adopters who have never moved them. By the way some of these miners I'm talking about recently signed a message proving their existence while giving a middle finger to Craig Scammer Wright.

[Welsh]

I would say in the earlier days it would be more probable. Since, mining now requires significant investment to be worthwhile, it is probably the main job for most of the bigger mining operations. However, earlier on in Bitcoin's history it wasn't as profitable or expensive to mine, and therefore its likely that miners had jobs on the side to mining.

I'm sure the more smaller time miners keep their Bitcoin for a rainy day. However, you have to think that the larger the operation gets the more investment that needs to be used, and therefore I imagine they do dip into their Bitcoin reward pool for that.

[Lucius]

But if we’re talking about not selling 100%? Besides Satoshi, quite unlikely I think.

I find that there were a lot of those who mined while it was still possible with ordinary computers, and many of them lost access to their private keys and never profited from their mining. This is not strange considering the value that BTC had at the time, and also the fact that selling was not as easy as it is today.

But is there any known miner who has not sold their BTC for a single time who is mining for a long time now?

If there is such a person, then it is someone for whom money is not a problem in life - he does not do it for profit, but for some completely different reasons. While it may sound strange, there are people who support Bitcoin without their main motive being profit.

[KaliLinux]

all the projects that we hold, all the companies they build, and whatever their work definitely requires capital, in opening a new business, I am very sure the miners must sell a little bit of their bitcoin, to provide for their family, family and needs for themselves, They have to pay workers salaries, electricity bills etc..

I totally agree with you and also some if not all of the miners probably too out loans too to build their mining farms and they have to pay back those loans. So to me, I wouldn't believe that there are miners that would just be working for all these years and not even want to sell a bit of their mined Bitcoins to support self or family needs been if they never took out loans for such activity.

[Chato1977]

if there is some? then those are the miners that Died even before they decide to sell their coins .

Before obviously who can survive the whole operation without even gaining for long years?
unless they are just doing mining for fun and not for business then it is possible .

[Lee_Mire]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

Satoshi and possibly a few other early miners are still sitting on their 50BTC block rewards. I'm sure a quick scan on the blockchain will reveal idle coins from that era.

[sapnu]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

More likely, that is not possible considering how far bitcoin has reached already. Most or almost all of the miners probably have spent some of their bitcoin already. If ever a miner managed to hold their bitcoin for a very long time up until now, there's a high chance that he is a whale right now capable of manipulating the market for a bit on every action he makes. Sooner or later, we will see and witness more miners spending their bitcoin due to the unforeseen situations like crisis in bitcoin. For now, all we can do is try and do our best not to sell what we are mining since bitcoin is not in a good shape at the moment.

[pinggoki]

To be honest I don't think that there are still a bitcoin or Cryptocurrency miner who doesn't sold their bitcoin until now because as we can see the price of the bitcoin way before long ago, it is just a literally coin that has a low value and there are so many chances that they will be able yo sell it higher on the past few years when the market gets bull run so it is really impossible dor a miner who has a diamond hands until now.

[sulis sudibyo]

I don't think so, because the purpose of his mining is to make money. he also needs funds for maintenance costs or to pay for electricity and internet. and I'm sure it all comes from bitcoin mining. so it's impossible for a miner to still hold his first btc until now. because they already sold it.

[dkbit98]

Lot of Bitcoins never moved for years from their original addresses so they can be considered early miners who never sold Bitcoin, and Satoshi is also one of them.
Around 4 million Bitcoins didn't move for years, they are now probably lost, and I would guess that many of this coins are coming directly from mining but I can't prove that.

[BlackHatCoiner]

The system works pseudonymously. We don't know the owners of those addresses and therefore, we don't know their names. And to be honest, if I was a miner who had kept 50 BTC from 2009-10, I would keep my mouth shut. I can guess, though, the unlikeliness that someone never spent a 'toshi since then. Imagine seeing your 50 BTC worth 100x than before. It'd surely be a temptation to not spend them.

[NicNacCoin]

I don't know anything about that owners of those addresses where a lots of Bitcoin keeping. Some investors keep it for long periods because they all know something about cryptocurrencies that we all general people don't know.

[ropyu1978]

there are no miners who haven't sold bitcoins from the start of mining, because we all have needs, we have families, maybe they still keep some of their bitcoins, for them to save in their old age.. because we know no matter how strong we are, if we don't eat it will surely die..

[bakasabo]

no miners keep all their mining products, all miners definitely don't keep all the results they mine, because they are not robots who don't need to eat and drink, don't need houses, vehicles etc.,, they must sell a little bit of their bitcoins for their needs everyday, buying a house, buying a car, going shopping, etc..

There are miners who has mined bitcoin from the start, then forgot or dropped that kind of activity, or have deleted their wallets or their hdd died for instance. Technically they havent sold their Bitcoins.

Another example - I have participated in bounty, got my reward and left wallet open for staking. I have expected altcoin price to go up, but it did not. I've stopped that PoS/PoW mining, closed wallet and forgot about that. I have mined and havent sold.

[zanezane]

no miners keep all their mining products, all miners definitely don't keep all the results they mine, because they are not robots who don't need to eat and drink, don't need houses, vehicles etc.,, they must sell a little bit of their bitcoins for their needs everyday, buying a house, buying a car, going shopping, etc..

There's probably someone out there who has the money to survive without spending any of those bitcoin that they've mined, remember that back then, it doesn't need a lot to mine the early bitcoins because they were easily done through your own computer and if they are smarter, they can probably use the heat of their mines to heat their place during winter saving money for heating the place.

[arwin100]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

No documented miner who havent sold their bitcoin yet since most of the article I've seen are those people who lost their password in the past or miss placed their hardware wallets. But if there is maybe they select to be silent since they don't want to create a noise and doesn't want to share their wallet activity since this might cause huge risk unto them.

[clippers]

I don't know the exact answer, but it is difficult to do. The vast majority of people involved in Bitcoin mining are people who want to profit from Bitcoin mining, and some people even borrowed money to buy their mining machines. This is a very common thing in China, where 99.99% of miners need to sell Bitcoin to pay off debts and pay electricity bills. Of course I don’t deny that there are a small number of people who voluntarily become Bitcoin miners because of the great cause of decentralization. Even so, in many cases they still need to sell Bitcoin into legal currency to meet their own needs, such as facing emergencies, unemployment, or illness.

There may be people in this category who still have a very stable income in addition to Bitcoin mining. Mining is for the realization of their ideals of decentralization, and even for the progress of the entire civilization. I have been in Bitcoin for too short a time, and I have not met such a pioneer. But I believe they exist, and I hope they exist.

[aysg76]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

We can't say which miner has sold their coins as transactions are made from one wallet to another and only visible thing is the address on the blockchain.But most of the miners prefer to hold the coins due to increase in prices even after the halving the rewards are halfed.In last few days around 40 Bitcoins were transferred from one wallet to another and those btc were mined in early 2009 just after the genesis block so it was anticipated that it was Sathoshi and fake Craig was also claiming it just like other fake claims.So you can't say which miner is holding and which are selling.

[Welsh]

There may be people in this category who still have a very stable income in addition to Bitcoin mining. Mining is for the realization of their ideals of decentralization, and even for the progress of the entire civilization. I have been in Bitcoin for too short a time, and I have not met such a pioneer. But I believe they exist, and I hope they exist.

These are what I would consider amateurs. There's always a negative stigma around that word for whatever reason, but I'm not intending to make it sound like they don't have a clue what they are doing. Its basically the entry point, and I would expect the more amateur miners to sell, and buy Bitcoin. Simply because they've likely got into Bitcoin mining with a hobbyist attitude. Of course, they want to make a profit, but they aren't expecting to make significant profits at least in the short term. Plus, because they have to pay off bills, and get their investment back they likely will have to sell their Bitcoin.

I would expect the more significant mining operations to be saving their Bitcoin for a rainier day. They almost certainly do exist, even if only partially i.e they sell a share of their Bitcoin mining profits, but are hoarding a significant portion of it.

[Leviathan.007]

I guess there is not any miner who didn't sell bitcoin because the miners will need some money for maintenance and power supply. So, even if they don't take any profit and hold the profits they earn, they will still need some money for the devices to continue the mining, unless some miner pay the maintenance and power supply out of his own pocket and save all the bitcoin they get. In the other hand, I believe even the most experienced miners with high self control power did sell some bitcoin when the priced reached the ath.

[perryxi2]

the way I think if miners don't sell how will they pay for electricity, worker wages and family living expenses, no one keeps 100% of their mined coins.

[Silberman]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

This is unlikely, it is possible that those that mined bitcoin at the beginning did not sold their coins but they stopped mining a long time ago, we know at least of one example of this variety and this was satoshi, however we need to remember that mining costs are very high and if this is not a hobby but actually an enterprise to make money then at some point you will need to sell your coins in order to raise some capital and pay your bills.

[shield132]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

Is there any way to know this? Unless the miner signs a message from the address he was using for bitcoin mining - no! There are a lot of "frozen" bitcoin addresses and most of them are just dead ones. It's impossible to select unused ones from dead ones because every address is considered dead that has been filled 5 and more years ago and hasn't moved a single satoshi from it.

Btw there is one database done by Loycev, if anyone wants to manually check addresses and all the traces associated with them: List of all Bitcoin addresses with a balance

[glendall]

Miners need individual living expenses, electricity, and maintenance
one thing that might not happen if from the beginning of mining until today it does not sell it, moreover. mining in large quantities, definitely requires periodic maintenance costs

[B-Bit]

The financial resources and electricity required for mining are a large part of the overhead. There are also daily consumption, and miners mine because they make money.
However, the value of Bitcoin is getting higher and higher, and absenteeism may be reserved when selling Bitcoin and will not be completely sold. Perhaps there will be reservations.

[traderethereum]

We knew that the first time bitcoin could be mined using the computer.
Those people run it from their home and never think about if the bitcoin price can rise even for just $1 but some people still run it.
But after the mining process can not be done using a computer and need different hardware, those people stop right away because not all of them can pay for the hardware, which I am sure was very costly.
But those people already have mined many bitcoins and when the price increase to $10, some of them sold it and make money and still hold the other big amount.
But we do not know who are they that still hold bitcoin from the beginning until now because we do not even know who the miner is.
We can check the address in the first year of the bitcoin launch, but we still do not know who the owner of that wallet is.

[5thFear]

Mining is a thing of the past now. Most of the miners are into trading. I don't think any alive wallet would resist from spending any money. Only case would be if someone is dead or the keys are lost, means the wallet is dead. Other then that i can't believe that someone is out there who just wants to accumulate but not spend.

[SmokerFace]

There are few and i'm not one of them.
It's hard to keep bitcoin when the market fluctuates a lot and most bitcoin holders would sell when the price is double of what they initially bought at and you can't blame them for that.

Then some forget to sell bitcoins and come to know about them later on.

[Sputnik_]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

I havent sold a single satoshi

Mining since 2010

I pay for my power out of my day job - its cheaper and easier to do and better than the DCA monkeys

plus saves me having to do tax because I havent sold.  Id imagine when the time came Ill have to dig out decades of info -- but for now - couldnt care less





crypto isnt about money - if it is - then youll never make it.

[Marvell1]

It's too hard. All miners need money to pay their daily expenses. For those who mined at the beginning, they couldn't even hold bitcoins until now, because bitcoin has grown very high compared to people's initial expectations.

[yazher]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

If the guy has some sort of multiple sources of income where he doesn't need anything at all to support himself and his family, then that would have been possible but you rarely see people like that. Because most of them don't want to get involve and get some stone to hit their head when things are not right in the crypto market. Only those who see the good opportunity it brings and when the price is going well, they surely put some in the market to further expand their mining power or invest in something that would make their life even better.

[ethereumhunter]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

I havent sold a single satoshi

Mining since 2010

I pay for my power out of my day job - its cheaper and easier to do and better than the DCA monkeys

plus saves me having to do tax because I havent sold.  Id imagine when the time came Ill have to dig out decades of info -- but for now - couldnt care less
crypto isnt about money - if it is - then youll never make it.

Did you still mine bitcoin until now? How many bitcoins did you earn from 2010 until now? I guess you have a big amount of bitcoin. You can be the richest person in your city if you sell only less than 20 bitcoin, right?

I wonder do you have a target when you want to sell your bitcoin? But geez, it is not easy to hold bitcoin from 2010 until now. You are really a strong hand in holding your bitcoin.

[dansus021]

what do you mean beginning its from earliest know mining or just new miner

if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.

is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still

maybe one or two people not sell any single bitcoin they have

[nicecrypto]

what do you mean beginning its from earliest know mining or just new miner

if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.

is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still

maybe one or two people not sell any single bitcoin they have

I agree with you. I wouldn't believe that there could be miners from the very beginning that have not sold a single bitcoin since they started mining since we know there are bills for them to pay since then. I also think the early miners might be in china and with what has happened of late, definitely most would have sold some and it could only be that they have not sold yet.

[rodskee]

if there is , I'm sure very few because 2017 pump is really outstanding and hard to deny the temptation.
seeing your coin climbing up to the top? surely we will be loving to sell  to 5 digits compared to the waiting and the value since the mining operation started.
i remember a post somewhere that He is still holding His coin since  he started to hold almost 10 years ago , though he is not a miner but at least he keeps the hold that long.

[AicecreaME]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

I don't think there is any miner aside from Satoshi (maybe) that hasn't sold their bitcoin starting from its mining campaign up until today. What I know for sure is there are still many miners before that have held a portion of the mined bitcoin because of investment reasons. I think most miners have already sold some of their bitcoin way back for their necessities such as paying bills, rent, food, clothing, and other stuff they need and want. It wasn't really a bad decision after all because they have experienced and enjoyed the fruit of their labor and patience during the mining days. Although it would be unfortunate if a miner already sold and used all his mined bitcoin since its value now skyrocketed compared to its initial release. However, it isn't too late after all, they can still buy and invest right now, but it would surely cost them a lot because bitcoin has a high value now compared to the time they got it for free by mining alone.

[geegaw]

I don't think it exists because every businessman wants a profit and if the price has gone up then they try to release the bitcoin into the global stock market, maybe right now, yes, this is true considering the relatively low price, they will try to choose to survive rather than them selling it at a price that does not match what I want, and if the price returns to normal then it is not impossible that I will also sell bitcoin

Agreed, if they have brought a large capitalization for such mining, their plan would be to sell bitcoin as soon as the price is as high as possible, the aim is to restore some of the initial capital, next is to think about the profit levels after months of trying to recover capital. Furthermore, the cost of equipment damage and repair as well as the usual costs of living, a small mining system also requires a relative fee, other miners will surely take advantage of the quick sale opportunities to secure their own interests

[sisikin]

Miners make money by mining. Before that, the miners would sell the coins if they dig the coins. At present, the value of Bitcoin is getting higher and higher, and miners will not completely sell Bitcoin.
Without value, miners may not keep the coins in their hands. If it is a valuable coin, some may be left. But it will not be fully preserved.
They also want to live. Take care of the family.

[Sweetbtc]

Nearly impossible that any miner he has not sold yet. Bitcoin coin price reached to peak and 2018 biggest dump these are the factors which forces every miners to sell some Btc for family and financial need. Holding looking so easy but it is very tough when you buy coin.

[Cacingkemi]

I'm not sure about that, right now mining business is pretty expensive and of course you need to maintain your equipment too and there's a lot to consider. Holding your coin from the start wouldn't let you have profit and you might not able to maintain your mining farm/rig I don't think no user beside maybe from Satoshi Nakamoto hold their Bitcoin from the start they mine.

[int03h]

No one exploits but just for fun other than profit. Only the first miners who lost their wallet password were holding their Bitcoins and they lost those Bitcoins forever.
Many people have mined Bitcoin in the past and we cannot know who they are.
Profit from Bitcoin is very aattractive, if it were me, I would probably sell it right after mining to recover my capital.

[7788bitcoin]

is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have

May be apart from Satoshi who mined the early coins have not moved the coins and who knows how many coins he mined apart from the known wallets and even he might have sold the coins and everyone else would book their profit at some point. Anyone who invested millions of dollars for a mining farm will not be holding the coins without holding as they will be booking their profit once in a while, if not they cannot sustain.

[buwaytress]

@Sputnik_ Always thought the only people not to have ever sold what they mined would be just someone trying their luck at the client without any intent to actually mine as a business. So those early day "miners" were simply acting out of interest of being a full node, that's all. Always doubted that any miner entering it as a business or industry would have sat on everything. Impossible not to without racking up huge bills but I guess some people knew what they were doing, you included =)

In fact, makes me curious, would anyone know when "mining" was first used? Oldest post I can find in mining sub-thread is Jan 2011. So perhaps the question only counts from those mining since 2011?

[Snappycoco]

Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?

As you were even tell, the expenses for this mining activity is quite massive up to the point that you need a really big chunk of money for your mining investment. Many miners mine just to have a certain coin then sell it for their mining expenses and profit. Unless you have a good career outside mining, you can't sustain the electricity power demand for your mining. Another expenses is your maintenance for your rigs. So yeah, I doubt that anyone mines just to hoard.

[dupee419]

Can't be, the amount of your electricity bill with a large mining rig is impossible for a miner to hold all of his bitcoins, it's impossible, well unless if you are Satoshi, just like what @mk4 has said, you can't hold all of your earned bitcoins from mining without having to sell any of it, unless if you have a huge budget intended for Bitcoin mining and that the amount of budget you have will last for years 

[Mpamaegbu]

Satoshi was technically a miner. And as far as we know, he most probably hasn’t sold any bitcoin. :p and it’s safe to assume that there were some old school miners that hasn’t sold much of their holdings too. But if we’re talking about not selling 100%? Besides Satoshi, quite unlikely I think.

We can't be too certain that it's just that single wallet with 1 million BTC that Satoshi holds which hasn't moved till date. Recently I read somewhere of a wallet that had around 50btc moving for the first time in nine years. And there were several wallets hodling 50btc each which hadn't moved too. I'm sure (even though I have no evidence that those aren't Satoshi's, we still can't say for sure that Satoshi doesn't have wallets hodling bits of Bitcoin for him. Again, it would be surprising that someone hasn't sold any percentage of their Bitcoin hodling at all till. Not sure that's possible.

[CryptocurencyKing]

Not like I'm expecting any miner to come out and tell us he or she haven't sold but, its almost impossible for a miner to hodl their entire bitcoin earnings from the origin of the trade up to this moment. I seriously doubt the possibility. If not for anything, you've got to see what it feels like to sell a portion of your holdings. I've encountered users who did that and the way it made them felt so, a miner would definitely want that.
Worst still, you've got bills and lots of it. From the huge cost of electricity, maintenance on the farm and even updating of the devices for mining. You've got to use some of that ROI at some point and it feels better to let the business handle it's expenses.