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Question: What do you do with MOST of your freshly mined bitcoins?
Save it.
Spend it.

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Author Topic: Poll: Miners, what do you do with your fresh btc?  (Read 2182 times)
fivemileshigh
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January 26, 2012, 09:12:11 AM
 #1

Hi guys, I'm an old newb (lol  Smiley ). 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 Smiley ) To spend or save?

Thanks in advance!

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January 26, 2012, 09:23:02 AM
 #2

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

 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.

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January 26, 2012, 09:49:44 AM
 #3

Invest. (spend?)

Don't mix your coins someone said isn't legal
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January 26, 2012, 10:16:15 AM
 #4

hoard Smiley
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January 26, 2012, 02:47:33 PM
 #5

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. Smiley

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DeathAndTaxes
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January 26, 2012, 02:50:53 PM
 #6

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.
Costia
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January 26, 2012, 03:07:57 PM
 #7

Not sure what you me by "freshly minted".  Only solo miners (and p2pool & Eligus pool miners) would have "freshly minted coins" anyone in a pool gets "used coins".
nope
in p2pool you get mined coins
in the gui they show up as mined, and in block explorer as "generated"
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January 26, 2012, 03:23:14 PM
 #8

Not sure what you me by "freshly minted".  Only solo miners (and p2pool & Eligus pool miners) would have "freshly minted coins" anyone in a pool gets "used coins".
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.
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January 26, 2012, 03:30:06 PM
 #9

heh. i guess i missed it Smiley
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January 26, 2012, 04:24:27 PM
 #10

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.
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January 26, 2012, 05:12:14 PM
 #11

 Buying The Bitcoin Mag.
 

SgtSpike
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January 26, 2012, 05:26:03 PM
 #12

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.
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January 26, 2012, 05:58:46 PM
 #13

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?

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January 27, 2012, 04:38:06 PM
 #14

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

  BitBetter | where your BitCoins are fun
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January 30, 2012, 08:03:54 AM
 #15

Save it / speculate on bitcoinica to make it more (less) Cheesy
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February 01, 2012, 05:42:56 AM
 #16

I am buying silver!
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February 01, 2012, 02:10:38 PM
 #17

i gamble with it Sad

Tym's Get Rich Slow scheme: plse send .00001 to
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February 02, 2012, 04:23:08 AM
 #18

I am buying silver!


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