Topic: Is there any miner who have not sold any bitcoin from the beginning? (Read 442 times)
August 15, 2021, 11:50:04 AM
Miners who have family needs to provide their needs, so I think it's impossible that miner have not sold any bitcoin from the beginning. But I do believed that miners hold part of their bitcoin because bitcoin has a huge potential to even more in the future.
August 15, 2021, 01:03:18 PM
Not like I'm expecting any miner to come out and tell us he or she haven't sold but, its almost impossible for a miner to hodl their entire bitcoin earnings from the origin of the trade up to this moment. I seriously doubt the possibility. If not for anything, you've got to see what it feels like to sell a portion of your holdings. I've encountered users who did that and the way it made them felt so, a miner would definitely want that.
Worst still, you've got bills and lots of it. From the huge cost of electricity, maintenance on the farm and even updating of the devices for mining. You've got to use some of that ROI at some point and it feels better to let the business handle it's expenses.
Worst still, you've got bills and lots of it. From the huge cost of electricity, maintenance on the farm and even updating of the devices for mining. You've got to use some of that ROI at some point and it feels better to let the business handle it's expenses.
August 15, 2021, 12:33:36 PM
Satoshi was technically a miner. And as far as we know, he most probably hasn’t sold any bitcoin. :p and it’s safe to assume that there were some old school miners that hasn’t sold much of their holdings too. But if we’re talking about not selling 100%? Besides Satoshi, quite unlikely I think.
We can't be too certain that it's just that single wallet with 1 million BTC that Satoshi holds which hasn't moved till date. Recently I read somewhere of a wallet that had around 50btc moving for the first time in nine years. And there were several wallets hodling 50btc each which hadn't moved too. I'm sure (even though I have no evidence that those aren't Satoshi's, we still can't say for sure that Satoshi doesn't have wallets hodling bits of Bitcoin for him. Again, it would be surprising that someone hasn't sold any percentage of their Bitcoin hodling at all till. Not sure that's possible. August 15, 2021, 12:11:18 PM
Can't be, the amount of your electricity bill with a large mining rig is impossible for a miner to hold all of his bitcoins, it's impossible, well unless if you are Satoshi, just like what @mk4 has said, you can't hold all of your earned bitcoins from mining without having to sell any of it, unless if you have a huge budget intended for Bitcoin mining and that the amount of budget you have will last for years 
August 15, 2021, 11:41:36 AM
Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?
As you were even tell, the expenses for this mining activity is quite massive up to the point that you need a really big chunk of money for your mining investment. Many miners mine just to have a certain coin then sell it for their mining expenses and profit. Unless you have a good career outside mining, you can't sustain the electricity power demand for your mining. Another expenses is your maintenance for your rigs. So yeah, I doubt that anyone mines just to hoard. 
August 15, 2021, 11:05:49 AM
@Sputnik_ Always thought the only people not to have ever sold what they mined would be just someone trying their luck at the client without any intent to actually mine as a business. So those early day "miners" were simply acting out of interest of being a full node, that's all. Always doubted that any miner entering it as a business or industry would have sat on everything. Impossible not to without racking up huge bills but I guess some people knew what they were doing, you included =)
In fact, makes me curious, would anyone know when "mining" was first used? Oldest post I can find in mining sub-thread is Jan 2011. So perhaps the question only counts from those mining since 2011?
In fact, makes me curious, would anyone know when "mining" was first used? Oldest post I can find in mining sub-thread is Jan 2011. So perhaps the question only counts from those mining since 2011?
August 15, 2021, 10:26:39 AM
is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have
May be apart from Satoshi who mined the early coins have not moved the coins and who knows how many coins he mined apart from the known wallets and even he might have sold the coins and everyone else would book their profit at some point. Anyone who invested millions of dollars for a mining farm will not be holding the coins without holding as they will be booking their profit once in a while, if not they cannot sustain. maybe one or two people not sell any single bitcoin they have
August 15, 2021, 10:21:52 AM
No one exploits but just for fun other than profit. Only the first miners who lost their wallet password were holding their Bitcoins and they lost those Bitcoins forever.
Many people have mined Bitcoin in the past and we cannot know who they are.
Profit from Bitcoin is very aattractive, if it were me, I would probably sell it right after mining to recover my capital.
Many people have mined Bitcoin in the past and we cannot know who they are.
Profit from Bitcoin is very aattractive, if it were me, I would probably sell it right after mining to recover my capital.
August 15, 2021, 09:23:47 AM
I'm not sure about that, right now mining business is pretty expensive and of course you need to maintain your equipment too and there's a lot to consider. Holding your coin from the start wouldn't let you have profit and you might not able to maintain your mining farm/rig I don't think no user beside maybe from Satoshi Nakamoto hold their Bitcoin from the start they mine.
August 14, 2021, 12:45:49 PM
Nearly impossible that any miner he has not sold yet. Bitcoin coin price reached to peak and 2018 biggest dump these are the factors which forces every miners to sell some Btc for family and financial need. Holding looking so easy but it is very tough when you buy coin.
August 14, 2021, 12:51:54 AM
Miners make money by mining. Before that, the miners would sell the coins if they dig the coins. At present, the value of Bitcoin is getting higher and higher, and miners will not completely sell Bitcoin.
Without value, miners may not keep the coins in their hands. If it is a valuable coin, some may be left. But it will not be fully preserved.
They also want to live. Take care of the family.
Without value, miners may not keep the coins in their hands. If it is a valuable coin, some may be left. But it will not be fully preserved.
They also want to live. Take care of the family.
August 13, 2021, 10:18:21 AM
I don't think it exists because every businessman wants a profit and if the price has gone up then they try to release the bitcoin into the global stock market, maybe right now, yes, this is true considering the relatively low price, they will try to choose to survive rather than them selling it at a price that does not match what I want, and if the price returns to normal then it is not impossible that I will also sell bitcoin
Agreed, if they have brought a large capitalization for such mining, their plan would be to sell bitcoin as soon as the price is as high as possible, the aim is to restore some of the initial capital, next is to think about the profit levels after months of trying to recover capital. Furthermore, the cost of equipment damage and repair as well as the usual costs of living, a small mining system also requires a relative fee, other miners will surely take advantage of the quick sale opportunities to secure their own interests August 13, 2021, 07:39:33 AM
Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?
I don't think there is any miner aside from Satoshi (maybe) that hasn't sold their bitcoin starting from its mining campaign up until today. What I know for sure is there are still many miners before that have held a portion of the mined bitcoin because of investment reasons. I think most miners have already sold some of their bitcoin way back for their necessities such as paying bills, rent, food, clothing, and other stuff they need and want. It wasn't really a bad decision after all because they have experienced and enjoyed the fruit of their labor and patience during the mining days. Although it would be unfortunate if a miner already sold and used all his mined bitcoin since its value now skyrocketed compared to its initial release. However, it isn't too late after all, they can still buy and invest right now, but it would surely cost them a lot because bitcoin has a high value now compared to the time they got it for free by mining alone.
August 13, 2021, 05:50:29 AM
if there is , I'm sure very few because 2017 pump is really outstanding and hard to deny the temptation.
seeing your coin climbing up to the top? surely we will be loving to sell to 5 digits compared to the waiting and the value since the mining operation started.
i remember a post somewhere that He is still holding His coin since he started to hold almost 10 years ago , though he is not a miner but at least he keeps the hold that long.
seeing your coin climbing up to the top? surely we will be loving to sell to 5 digits compared to the waiting and the value since the mining operation started.
i remember a post somewhere that He is still holding His coin since he started to hold almost 10 years ago , though he is not a miner but at least he keeps the hold that long.
August 13, 2021, 01:35:15 AM
what do you mean beginning its from earliest know mining or just new miner
if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.
is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have
I agree with you. I wouldn't believe that there could be miners from the very beginning that have not sold a single bitcoin since they started mining since we know there are bills for them to pay since then. I also think the early miners might be in china and with what has happened of late, definitely most would have sold some and it could only be that they have not sold yet. if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.
is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have
August 12, 2021, 11:04:10 PM
what do you mean beginning its from earliest know mining or just new miner
if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.
is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have
if new miner than maybe a lot people that not sold the bitcoin maybe just testing the miner or something else.
is from the earliest mining maybe the sold some to cover up the electricty an hold the rest unless they have free electric but still
maybe one or two people not sell any single bitcoin they have
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August 12, 2021, 09:50:22 PM
Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?
I havent sold a single satoshi
Mining since 2010
I pay for my power out of my day job - its cheaper and easier to do and better than the DCA monkeys
plus saves me having to do tax because I havent sold. Id imagine when the time came Ill have to dig out decades of info -- but for now - couldnt care less
crypto isnt about money - if it is - then youll never make it.
I wonder do you have a target when you want to sell your bitcoin? But geez, it is not easy to hold bitcoin from 2010 until now. You are really a strong hand in holding your bitcoin.
August 12, 2021, 09:01:21 PM
Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?
If the guy has some sort of multiple sources of income where he doesn't need anything at all to support himself and his family, then that would have been possible but you rarely see people like that. Because most of them don't want to get involve and get some stone to hit their head when things are not right in the crypto market. Only those who see the good opportunity it brings and when the price is going well, they surely put some in the market to further expand their mining power or invest in something that would make their life even better.
August 12, 2021, 08:27:57 PM
It's too hard. All miners need money to pay their daily expenses. For those who mined at the beginning, they couldn't even hold bitcoins until now, because bitcoin has grown very high compared to people's initial expectations.
August 12, 2021, 07:25:27 PM
Mining has become a business and it’s growing. It has daily expenses and for that miners need to sell their BTC to cover up electricity bill and other cost if exists. But is there any known miner who has not sold their BTC for a single time who is mining for a long time now? We know there are addresses which haven’t moved their BTC for a long time. Is any miner included in the list?
I havent sold a single satoshi
Mining since 2010
I pay for my power out of my day job - its cheaper and easier to do and better than the DCA monkeys
plus saves me having to do tax because I havent sold. Id imagine when the time came Ill have to dig out decades of info -- but for now - couldnt care less
crypto isnt about money - if it is - then youll never make it.
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