fivemileshigh (OP)
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January 26, 2012, 09:12:11 AM |
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Hi guys, I'm an old newb (lol ). 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 ) To spend or save? Thanks in advance!
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P4man
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January 26, 2012, 09:23:02 AM |
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I voted spend. I try to save a bit, but as with other currencies, I am better at spending than saving . 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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Kluge
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January 26, 2012, 09:49:44 AM |
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Invest. (spend?)
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Costia
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January 26, 2012, 10:16:15 AM |
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hoard
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tonto
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January 26, 2012, 02:47:33 PM |
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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.
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DeathAndTaxes
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Gerald Davis
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January 26, 2012, 02:50:53 PM Last edit: January 26, 2012, 03:23:54 PM by DeathAndTaxes |
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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.
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Costia
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January 26, 2012, 03:07:57 PM |
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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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DeathAndTaxes
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Gerald Davis
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January 26, 2012, 03:23:14 PM |
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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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Costia
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January 26, 2012, 03:30:06 PM |
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heh. i guess i missed it
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Brunic
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January 26, 2012, 04:24:27 PM |
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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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BCMan
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January 26, 2012, 05:12:14 PM |
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Buying The Bitcoin Mag.
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SgtSpike
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January 26, 2012, 05:26:03 PM |
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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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BCMan
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January 26, 2012, 05:58:46 PM |
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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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bitbetter
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I want to feel your empty heart.
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January 27, 2012, 04:38:06 PM |
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save all of them and then sell them when the price seems right
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Regex
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January 30, 2012, 08:03:54 AM |
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Save it / speculate on bitcoinica to make it more (less)
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vampire
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February 01, 2012, 05:42:56 AM |
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I am buying silver!
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illpoet
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February 01, 2012, 02:10:38 PM |
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i gamble with it
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Tym's Get Rich Slow scheme: plse send .00001 to btc: 1DKRaNUnMQkeby6Dk1d8e6fRczSrTEhd8p ltc: LV4Udu7x9aLs28MoMCzsvVGKJbSmrHESnt thank you.
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Brunic
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February 02, 2012, 04:23:08 AM |
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I am buying silver!
Yeah, it's probably the best way of stopping the production of silver bullets.
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