Topic: Are miners HODLers? (Read 1956 times)
I mine and sell immediately. Very new and small time. I need cash for equipment and bills. Hell, I need gas to get to my day job. Seems like when equipment is offered for BTC instead of USD the sellers view of the exchange rate makes the equipment cost more than if I pay USD. At least so far. Guess I'm stupid for now.
I think the majority of them are, but there are tons of expenses that need to be paid, electricity and space. I got out of mining end of last year and the big farms are the ones that are going to win, but when prices are going down, like they are, they need to hold, but I think they will start selling as the price goes up. But when us little guys used to mine with our GPUS or FPGA's 99 percent of my coin was held, but its hard to do that when your electricity bill is in the tens of thousands per week or month..
Imho, big miners hodl a little and small miner hodl what they can.. asic really changed mining.. Pretty soon it will be down to just a handful of companies...
I think that miners used to hold as much as they can after accounting for expenses (operating costs used to be very little). Today's miners are more like investors as they are very concerned about ROI and their various costs. Imho, big miners hodl a little and small miner hodl what they can.. asic really changed mining.. Pretty soon it will be down to just a handful of companies...
Totally depends! Hobby miners that buy a single miner or operate a small farm at home most likely will hold on to their coins or use them to buy something, gamble, fund IPOs or something. Big mining farms will make sure to at least cover their running expenses in order to keep afloat in case of a price drop.
As mining becomes less profitable, you need to learn where the best places are to use your miner. Just having a mining ASIC on a pool isn't going to cut it anymore. Multipools are taking root now, but to me, IPOMiner.com is potentially the most profitable because it focuses on new coins that just got released. If you mine and dump the coins to bitcoin once it's at the highest you think the coin will be worth, then you'll make more money potentially. IPOMiner only focuses on promising new coins, so they aren't crap coins that have low yields. I wrote a great article on CCN about this.
"I never mined"
That suits for me. I only buy low sell high. Sort of hoarder..
That suits for me. I only buy low sell high. Sort of hoarder..
At current bitcoin prices most small/home miners will probably be holders. In terms of large miners, including corporations they will most likely have to liquidate a large amount of their coins every month to cover space and electricity costs, but even they most likely are holding onto whatever they can due to the currently low price.
This poll lead nowhere.
Most of the hashrate is owner by huge corporates that doesn't take any unnecessary risk and convert to FIAT ASAP therefore miners are dumpers.
I am a miner and I agree I do hold lot of coins. I sell only at time of price hike.
I am a miner, and I agree I do hoard, but I sell some of my stock frequently too.
Beyond paying off the electricity cost and the invested capital to mining rigs, I will hold as much as I have mined.
People speculated on reddit that the price went up 7% because the difficulty went up 20% resulting in 20% less coins flooding into the market.
Please help me find out the truth
Please help me find out the truth
I personally dont like spending my coins right after the price went down so much. So if more people doing the same, it lower supply a bit, thus increasing price
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People speculated on reddit that the price went up 7% because the difficulty went up 20% resulting in 20% less coins flooding into the market.
I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
Hmm that is a tough question to answer giszmo
The reason is that miners need to cover their operating costs and sell bitcoin to the market
Else they will hold those coins and take fiat costs in exchange.
That said those mining farms that have scale do convert a fraction of their coins towards electrical and operating costs, such as the Datatank farms and similar projects, in my opinion small scale miners hold large scale miners do both.
They may hold in a short to mid term and then sell at significant price increases.
Well when I ran my mining operation I was holding almost everything because I could easily afford all the costs (loan for a long time without any interest - connections help). When the price spiked I sold everything then and bought back what I sold when the price dropped, so I've repaid everything and kept my holdings.
I'm assuming that there is a portion of the miners who are holding the majority, and there is also a part of them who are dumping everything instantly.
I'm assuming that there is a portion of the miners who are holding the majority, and there is also a part of them who are dumping everything instantly.
I think the majority of them are, but there are tons of expenses that need to be paid, electricity and space. I got out of mining end of last year and the big farms are the ones that are going to win, but when prices are going down, like they are, they need to hold, but I think they will start selling as the price goes up. But when us little guys used to mine with our GPUS or FPGA's 99 percent of my coin was held, but its hard to do that when your electricity bill is in the tens of thousands per week or month..
Imho, big miners hodl a little and small miner hodl what they can.. asic really changed mining.. Pretty soon it will be down to just a handful of companies...
Imho, big miners hodl a little and small miner hodl what they can.. asic really changed mining.. Pretty soon it will be down to just a handful of companies...
I'm miner. I do not directly sell the coins, and also does not hold for too long.
When I need some cash, I'll sell it.
When I need some cash, I'll sell it.
I myself agree with this. I also feel that most miners are in this boat
People speculated on reddit that the price went up 7% because the difficulty went up 20% resulting in 20% less coins flooding into the market.
I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
I very much disagree with this logic. Even though difficulty increased by 20%, the target block time stayed the same. I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
I think that today's miners are businessmen who need to pay for the current expenses associated with running a miner (mainly electricity) so they will sell at least a portion of their bitcoin produced.
I'm not a miner but as they posted before, miners have to sell all (or a part of) their earnings to cover the expenses.
My friend & I miners and I sale all to what I need to in order to pay my bills.
People speculated on reddit that the price went up 7% because the difficulty went up 20% resulting in 20% less coins flooding into the market.
I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
I argue that miners are holders as they already made a long term commitment.
Please help me find out the truth
Difficulty increase doesn't mean less coins are mined. In fact, if there's a massive influx of hashrate more coins will be mined per hour than before, until the next difficulty adjustment.
I'm miner. I do not directly sell the coins, and also does not hold for too long.
When I need some cash, I'll sell it.
When I need some cash, I'll sell it.
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