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Poll
Question: What do you do with mined coins?
I hoard them.
I exchange all mined coins to hoard USD.
I exchange few coins just enough to pay for electicity
I use mined coins for speculation
I buy services directly using mined BTC

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Author Topic: What do you do with mined coins?  (Read 5127 times)
nimnul
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June 07, 2012, 08:43:16 AM
 #1

This poll is to check the hypothesis that everyone mines to dump.

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AzN1337c0d3r
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June 07, 2012, 01:30:24 PM
 #2

What happened to I use mined coins to mine more coins?

nimnul
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June 07, 2012, 01:35:48 PM
 #3

Poll only has 5 options here. So I only included only the options looking plausible for me. I didn't think of someone still expanding their GPU rigs these days.

runlinux
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June 07, 2012, 01:38:52 PM
 #4

I save most, but sell what I need to pay bills. Never know when you need a few hundred extra dollars.

matthewh3
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June 07, 2012, 03:15:27 PM
 #5

I invest them in the GLBSE or deposit them for interest payments.

david113
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June 07, 2012, 03:42:06 PM
 #6

Poll only has 5 options here. So I only included only the options looking plausible for me. I didn't think of someone still expanding their GPU rigs these days.

I do
P_Shep
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June 07, 2012, 04:32:38 PM
 #7

I'm selling everything now to pay off what I spent on the rigs, then I'll sell enough to pay for electricity.
Gomeler
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June 07, 2012, 05:10:56 PM
 #8

Sell just enough to cover most of the power bill. The rest get invested in various interest generating locations with the goal of the interest from my investments covering power. It's a bitcoin snowball!

caish5
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June 09, 2012, 01:47:33 AM
 #9

I too am going the GLBSE route. I'm trying to test out the "compounding is the most powerful force in the universe theory". Before GLBSE i used to just spend them.

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June 09, 2012, 06:34:20 AM
 #10

i turn them into USD and remove from mtgox/dwolla ASAP

Dacentec, best deals for US dedicated servers. They regularly restock $20-$25 Opterons with 8-16GB RAM & 2x1-2TB HDD's (ofc, usually lots of other good stuff to choose from).  I did a Serverbear benchmark of one of my $20/mo Opteron (June last year), it's here.  Have had about a half dozen different servers with Dacentec, & none have failed to sustain at least 40MB/s (burst higher). My favorite is a 12-month rent-to-own ZT Systems 2XL5520 16GB 2x2TB SATA for $40/month (got lucky with the 'off-brand', haven't seen a RTO 2xL5520 for under $50/mo since -- at least for monthly contracts).  wholesaleinternet.com has some ancient 2-core intel CPUs @ $10/mo sometimes (I got an Intel Core 2 6300 @ 1.86GHz, with a 250GB HDD with 46000 hours on it, LOL. $20 @ Dacentec is much better, if you can grab one). joesdatacenter.com (same location as Wholesale Internet) also occasionally has specials (or if you don't want to wait, it has an AMD Opteron 170 @ $16/mo).
arklan
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Just along for the ride...


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June 09, 2012, 12:46:15 PM
 #11

so far i've hoarded, but that's cause my mining rate is crap (350ish mhash) so i've only got about 16.3 btc right now.

when i actually have enough to DO something with it, it'll be a cyclical pattern - mine buy more hardware, mine, buy more hardware...
Graet
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June 09, 2012, 01:56:15 PM
 #12

I use them as a PayPal substitute, buy and sell goods from overseas and locally Smiley

Donate to worthy causes

Recently cashed some out to AUD to buy a Galaxy s3

cant vote - none of the above listed

never owned a USD no real plans to....


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June 20, 2012, 07:48:29 AM
 #13

As it's a pretty constant stream of income from mining, I use it to pay for web hosting and other online monthly services. That and occasionally convert to paypal cash through SpendBitcoins.
HonorMe
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June 20, 2012, 09:16:04 AM
 #14

I hoard them, every little counts Cheesy
SiliconAlchemist
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June 28, 2012, 02:36:05 AM
 #15

I use them as a PayPal substitute, buy and sell goods from overseas and locally Smiley

Donate to worthy causes

Recently cashed some out to AUD to buy a Galaxy s3

cant vote - none of the above listed

never owned a USD no real plans to....

I'm getting the galaxy s3 on the first.  How do you like it so far?

On topic:  I haven't cashed any of my coins yet.  I keep seeing GLBSE pop up in these threads, so I might have to look deeper into that option.
AbsoluteZero
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July 06, 2012, 06:35:40 PM
 #16

How do I view the results of the poll without voting?
nimnul
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July 07, 2012, 03:38:47 AM
 #17

it's 39% 14% 15% 10% 19%

Bananington
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July 13, 2012, 03:44:00 PM
 #18

I buy things with my bitcoins. I don't bother converting them to USD(this is a long arduous process, and I'm impatient). I have only bought games and computer accessories up to this point.
kibblesnbits
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July 15, 2012, 12:02:04 AM
 #19

Buy things.  Should be a choice on the poll.  I've bought used computer parts, cables, an iPod, and put in two orders to upgrade singles to SCs.  Oh, and raw Thai honey.  Can't forget the honey.

Looking to invest soon at the exchange.

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July 16, 2012, 11:40:50 AM
 #20

i buy things with my bitcoins though i put most of them to pirate account. Smiley

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https://bitcointalk.org/index.php?topic=484.msg962923#msg962923
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