Do you switch your mined coins to USDT immediately or do you HODL?

treanski

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Quote from: HOLDERNEWSOFFICIAL on July 05, 2018, 04:59:22 AM

Hi miners!
I'm quite curious about one thing.
Do you guys switch your mined coins to USDT immediately or do you guys HODL?
Which strategy should I choose?

since i paid of my hardware im hodling everything for few years or till the next big bullrun Grin

lunobird

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Quote from: nsummy on July 11, 2018, 11:43:10 PM

Quote from: lunobird on July 11, 2018, 03:22:24 PM

It's very simple. In a bull market hold your coins. In a bear market sell them for usdt.

Those that hodl their coins in 1st half of 2018 got rekt. Those that didn't hodl their coins in 2017 got rekt.

As for me I don't care as much. My rigs are paid off by holding most of my coins i bought in early 2017 and I use my normal day job to pay electric every month. I'm probably in the negative due to this but I'll wait till next bull run in 2 to 3 years before I sell.

You have it backward. Sell in a bull market, hold in a bear market. If you held your coins in the 1st half of 2018 you didn't get wrecked. The idiots that sold everything when the price plummeted got wrecked.

Ya let me rephrase that. I meant to say sell at the later end stage of the bull run and hold if your already too deep many months into the bear trend. Play the larger market cycles

I personally don't sell any coins i mine until I get a 10x return. Anything less then that doesn't interest me

nsummy

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I think if OP would have asked this question in December he would have gotten different responses

Personally right now I sell my altcoins at pretty regular intervals but am holding the bitcoin. If/when bitcoin reaches 10k ill probably sell some off. I am also holding eth, zcoin, Shield, and Intensecoin as I think they will all rise. I don't have faith that most current altcoins that are popular will rise. A reoccuring theme with a lot of these are masternodes. At first there is a lot of demand, but that plummets

nsummy

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Quote from: lunobird on July 11, 2018, 03:22:24 PM

It's very simple. In a bull market hold your coins. In a bear market sell them for usdt.

Those that hodl their coins in 1st half of 2018 got rekt. Those that didn't hodl their coins in 2017 got rekt.

As for me I don't care as much. My rigs are paid off by holding most of my coins i bought in early 2017 and I use my normal day job to pay electric every month. I'm probably in the negative due to this but I'll wait till next bull run in 2 to 3 years before I sell.

You have it backward. Sell in a bull market, hold in a bear market. If you held your coins in the 1st half of 2018 you didn't get wrecked. The idiots that sold everything when the price plummeted got wrecked.

realaccountakira

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Quote from: lunobird on July 11, 2018, 03:22:24 PM

It's very simple. In a bull market hold your coins. In a bear market sell them for usdt.

Those that hodl their coins in 1st half of 2018 got rekt. Those that didn't hodl their coins in 2017 got rekt.

As for me I don't care as much. My rigs are paid off by holding most of my coins i bought in early 2017 and I use my normal day job to pay electric every month. I'm probably in the negative due to this but I'll wait till next bull run in 2 to 3 years before I sell.

Above post is actually a great example of why you should just HODL. I just think he got his first sentence mixed up.

Your mining business plan should take into consideration the electric costs because holding and selling in a BULL market is the way to make decent profits here. I mine, convert to, and hold Bitcoin and Ethereum knowing that a few years from now, the values of these coins will surely rise.

lunobird

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If you mined btg or btcp or any shitcoin these past 6 months then you suffered a 10x loss. Best to sell them by December and rebuy back 1 month later so you can report losses on taxes

AIO Inc

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Quote from: HOLDERNEWSOFFICIAL on July 05, 2018, 04:59:22 AM

Hi miners!
I'm quite curious about one thing.
Do you guys switch your mined coins to USDT immediately or do you guys HODL?
Which strategy should I choose?

I definitely keep what I mine. Prices will definitely come back and rise higher than they did before. It's just what happens in new industries getting their footing. So in my opinion you're definitely better off keeping what you mine, but make sure that it's a project worth keeping if you do.

bitrpc.com

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We do what Michaels231 suggested, and we advise the same to most newbies Wink

. However in the past week, it may be better to sell for USDT unless you think we're going up from here.

Micheals231

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What i do is trade it to eth or btc and hodl, and i believe that's the best option

Xazax310

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Quote from: lunobird on July 11, 2018, 03:22:24 PM

It's very simple. In a bull market hold your coins. In a bear market sell them for usdt.

Those that hodl their coins in 1st half of 2018 got rekt. Those that didn't hodl their coins in 2017 got rekt.

As for me I don't care as much. My rigs are paid off by holding most of my coins i bought in early 2017 and I use my normal day job to pay electric every month. I'm probably in the negative due to this but I'll wait till next bull run in 2 to 3 years before I sell.

Very true my friend, I think too many got into "This will go higher" Mentality, not thinking of the crash. IMHO it's best to sell some of your coins for profit when the markets are at ATL. Don't ever panic sell when they are at their ATL. In a market like now, its best to trade coins When they are high against BTC, then when BTC domainance grows, trade back. you'll end up holding more coins than if you just HODLed them.

Iamtutut

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Quote from: adaseb on July 05, 2018, 05:08:35 AM

I am pretty sure that most people here haven't ROI'd their GPUs so they most likely sell everyday into USD/USDT until they break-even and after that maybe they will hodl.

I think that since most BTC is actually mined in places like China, more of that gets HODL'd than sold daily.

Coins like ZEC or ETH where most people are mining with GPUs around the world, they most likely sell their mined coins daily so they can pay electricity costs and pay off their 1080TI's GPUs.

Then I'm the exception. Haven't sold one single mined coin for FIAT.
Bought 3 RX570 (<800€) + X470 mobo (140€) + Ryzen 2400G (130€) + 8GB RAM (80€). Gonna buy some FPGA accelerators, maybe vega 64 will be 500-1K€ more in "negative".

smoolae

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When I was still in the mining game I tended to hold my mined crypto if it was some well recognized and high trade volume coin. When I mined some new coins I tried to switch them to ETH or BTC as soon as the pump begun (usually you have this pump when the coin hits the exchange).

lunobird

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It's very simple. In a bull market hold your coins. In a bear market sell them for usdt.

Those that hodl their coins in 1st half of 2018 got rekt. Those that didn't hodl their coins in 2017 got rekt.

As for me I don't care as much. My rigs are paid off by holding most of my coins i bought in early 2017 and I use my normal day job to pay electric every month. I'm probably in the negative due to this but I'll wait till next bull run in 2 to 3 years before I sell.

Bulitt

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I mine for a while and I wait for BTC or LTC to go down versus the coin Im mining then I exchange a week or two's worth of coins at a more opportune time.

Really to "lock in" the HODL value of mining you want to try to accumulate BTC rather than USDT. USDT is only an option if the coin you are mining is declining in value consistently. In the end the satoshi value of an altcoin is the price you need to watch when mining. USDT is more useful to store value of a coin if its experiencing wild fluctuations. Sell high wait for the price to swing down and re-buy to gain more to sell at the next swing up.

Keep in mind that I also HODL a certain percentage of everything I mine permanently. One to two weeks worth gets kept in the wallet just incase it moons.

jperser

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I got into mining August 2017. After researching and working on a business model, I found the margins were too small for me to make it a successful business. I convinced my wife that this will be a hobby. I bought a used Bitmain S3 and built a multi-GPU rig. The plan was to reinvest the mined coins.

By December 2017, I mined enough coins to start a Zencash Secure node https://bitcointalksearch.org/topic/annzen-horizen-unbounded-by-design-2047435. Since January 2018, I have been mining and exchanging to Solaris (XLR) coins in order to start a masternode https://bitcointalksearch.org/topic/solaris-xlr100-pos-masternodes-zerocointxbitio-in-development-1831629. I have been experimenting with staking XLR in an Unbuntu wallet. Recently I found that Luxcoin (LUX) https://bitcointalksearch.org/topic/luxcoin-new-phi2-powpos-hybrid-sc-segwit-privatesend-pos-web-wallet-luxgate-2422372 that is profitable to mine and also supports staking.

Here is the interesting part, 1/3 of my weekly coin acquisition comes from the wallets, and 2/3 from the CPU/GPU miners. Coins that I mined and HODL are at their Oct 2017 price.

preda

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Quote from: adaseb on July 05, 2018, 05:08:35 AM

I am pretty sure that most people here haven't ROI'd their GPUs so they most likely sell everyday into USD/USDT until they break-even and after that maybe they will hodl.

I think that since most BTC is actually mined in places like China, more of that gets HODL'd than sold daily.

Coins like ZEC or ETH where most people are mining with GPUs around the world, they most likely sell their mined coins daily so they can pay electricity costs and pay off their 1080TI's GPUs.

sadly there is who is mining eth with 1080ti lol 50mh what a waste of beautiful card.. there are so many algo which 1080ti does better than ethash

boulderchain

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Quote from: leonix007 on July 06, 2018, 04:43:42 AM

Quote from: HOLDERNEWSOFFICIAL on July 06, 2018, 12:25:27 AM

Quote from: boulderchain on July 05, 2018, 06:46:53 AM

Why do you want to trade it for USDT? Currently I am holding my the coins which I mine, otherwise I wouldn't make profit. It's just a convenient way to get some crypto and I am only mining interesting and promising projects, not the ones with the highest ROI.

And even if I would trade them instantly, I would use BTC instead of USDT.

Isn't buying the coin directly form the market more convenient?
Why do you choose to mine them instead?

Some folks aren't inclined on doing market buying coins, most are hobbyist and tech guys who are happy seeing rigs like baby's

A satisfaction that aren't in the field of marketplace

some are proud to support the network

He is right. It is more fun to mine some coins and it's a good way to avoid some small suspicious exchanges. New coins are not often listed on your favorites exchanges.

HOLDERNEWSOFFICIAL

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Quote from: leonix007 on July 06, 2018, 04:43:42 AM

Quote from: HOLDERNEWSOFFICIAL on July 06, 2018, 12:25:27 AM

Quote from: boulderchain on July 05, 2018, 06:46:53 AM

Why do you want to trade it for USDT? Currently I am holding my the coins which I mine, otherwise I wouldn't make profit. It's just a convenient way to get some crypto and I am only mining interesting and promising projects, not the ones with the highest ROI.

And even if I would trade them instantly, I would use BTC instead of USDT.

Isn't buying the coin directly form the market more convenient?
Why do you choose to mine them instead?

Some folks aren't inclined on doing market buying coins, most are hobbyist and tech guys who are happy seeing rigs like baby's

A satisfaction that aren't in the field of marketplace

some are proud to support the network

Got it,
This is quite a informative insight to me Cheesy

leonix007

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Quote from: HOLDERNEWSOFFICIAL on July 06, 2018, 12:25:27 AM

Quote from: boulderchain on July 05, 2018, 06:46:53 AM

Why do you want to trade it for USDT? Currently I am holding my the coins which I mine, otherwise I wouldn't make profit. It's just a convenient way to get some crypto and I am only mining interesting and promising projects, not the ones with the highest ROI.

And even if I would trade them instantly, I would use BTC instead of USDT.

Isn't buying the coin directly form the market more convenient?
Why do you choose to mine them instead?

Some folks aren't inclined on doing market buying coins, most are hobbyist and tech guys who are happy seeing rigs like baby's

A satisfaction that aren't in the field of marketplace

some are proud to support the network

HOLDERNEWSOFFICIAL

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Quote from: boulderchain on July 05, 2018, 06:46:53 AM

Why do you want to trade it for USDT? Currently I am holding my the coins which I mine, otherwise I wouldn't make profit. It's just a convenient way to get some crypto and I am only mining interesting and promising projects, not the ones with the highest ROI.

And even if I would trade them instantly, I would use BTC instead of USDT.

Isn't buying the coin directly form the market more convenient?
Why do you choose to mine them instead?

Topic: Do you switch your mined coins to USDT immediately or do you HODL? (Read 370 times)