Topic: Is there any miner who have not sold any bitcoin from the beginning? - page 3. (Read 442 times)
July 02, 2021, 06:18:28 AM
To be honest I don't think that there are still a bitcoin or Cryptocurrency miner who doesn't sold their bitcoin until now because as we can see the price of the bitcoin way before long ago, it is just a literally coin that has a low value and there are so many chances that they will be able yo sell it higher on the past few years when the market gets bull run so it is really impossible dor a miner who has a diamond hands until now.
July 02, 2021, 05:56:52 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?
More likely, that is not possible considering how far bitcoin has reached already. Most or almost all of the miners probably have spent some of their bitcoin already. If ever a miner managed to hold their bitcoin for a very long time up until now, there's a high chance that he is a whale right now capable of manipulating the market for a bit on every action he makes. Sooner or later, we will see and witness more miners spending their bitcoin due to the unforeseen situations like crisis in bitcoin. For now, all we can do is try and do our best not to sell what we are mining since bitcoin is not in a good shape at the moment. July 02, 2021, 05:46:10 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?
Satoshi and possibly a few other early miners are still sitting on their 50BTC block rewards. I'm sure a quick scan on the blockchain will reveal idle coins from that era.
July 02, 2021, 05:39:38 AM
if there is some? then those are the miners that Died even before they decide to sell their coins .
Before obviously who can survive the whole operation without even gaining for long years?
unless they are just doing mining for fun and not for business then it is possible .
Before obviously who can survive the whole operation without even gaining for long years?
unless they are just doing mining for fun and not for business then it is possible .
July 02, 2021, 04:57:16 AM
all the projects that we hold, all the companies they build, and whatever their work definitely requires capital, in opening a new business, I am very sure the miners must sell a little bit of their bitcoin, to provide for their family, family and needs for themselves, They have to pay workers salaries, electricity bills etc..
I totally agree with you and also some if not all of the miners probably too out loans too to build their mining farms and they have to pay back those loans. So to me, I wouldn't believe that there are miners that would just be working for all these years and not even want to sell a bit of their mined Bitcoins to support self or family needs been if they never took out loans for such activity. 
July 02, 2021, 04:56:48 AM
But if we’re talking about not selling 100%? Besides Satoshi, quite unlikely I think.
I find that there were a lot of those who mined while it was still possible with ordinary computers, and many of them lost access to their private keys and never profited from their mining. This is not strange considering the value that BTC had at the time, and also the fact that selling was not as easy as it is today.
But is there any known miner who has not sold their BTC for a single time who is mining for a long time now?
If there is such a person, then it is someone for whom money is not a problem in life - he does not do it for profit, but for some completely different reasons. While it may sound strange, there are people who support Bitcoin without their main motive being profit.
July 02, 2021, 04:26:45 AM
I would say in the earlier days it would be more probable. Since, mining now requires significant investment to be worthwhile, it is probably the main job for most of the bigger mining operations. However, earlier on in Bitcoin's history it wasn't as profitable or expensive to mine, and therefore its likely that miners had jobs on the side to mining.
I'm sure the more smaller time miners keep their Bitcoin for a rainy day. However, you have to think that the larger the operation gets the more investment that needs to be used, and therefore I imagine they do dip into their Bitcoin reward pool for that.
I'm sure the more smaller time miners keep their Bitcoin for a rainy day. However, you have to think that the larger the operation gets the more investment that needs to be used, and therefore I imagine they do dip into their Bitcoin reward pool for that.
July 02, 2021, 04:10:51 AM
It depends on the size of the operation, a big mining farm for example that has a much bigger cost has to sell bitcoin to cover those costs because they can't keep paying out of pocket but smaller operations like individuals mining at home with an ASIC or two could easily afford to pay their electric bill out of pocket without having to sell their bitcoin reward to cover their costs but at the same time they earn smaller amounts.
And obviously as mentioned a lot of the early adopters who were also mining bitcoin haven't sold their bitcoins. In fact a lot of the coins that people guess belongs to Satoshi actually belong to a lot of early adopters who have never moved them. By the way some of these miners I'm talking about recently signed a message proving their existence while giving a middle finger to Craig Scammer Wright.
And obviously as mentioned a lot of the early adopters who were also mining bitcoin haven't sold their bitcoins. In fact a lot of the coins that people guess belongs to Satoshi actually belong to a lot of early adopters who have never moved them. By the way some of these miners I'm talking about recently signed a message proving their existence while giving a middle finger to Craig Scammer Wright.
July 02, 2021, 04:08:24 AM
Hard to see if there is someone who hasn't yet sold. When the price of Bitcoin goes more than $1000 back in the early pump bullrun of BTC, I'm sure they have sold when with huge profit to it. 50BTC per block is already $50K, anyone with bills to pay would be tempted to sell them all. But if there is still someone who kept it for years, then he really has the diamond hands. It can be sold as Virgin coins right?
July 02, 2021, 04:05:53 AM
no miners keep all their mining products, all miners definitely don't keep all the results they mine, because they are not robots who don't need to eat and drink, don't need houses, vehicles etc.,, they must sell a little bit of their bitcoins for their needs everyday, buying a house, buying a car, going shopping, etc..
July 02, 2021, 04:05:33 AM
I assume that there's no miner who haven't sold their bitcoin since the beginning of their mining journey but they might have some bitcoin lect that they plan to hodl for a long time. The reason for my assumption is because mining is electricity hungry so probably they have to sell those bitcoins because they need to have money to pay for the bills. I might be wrong and there's someone who did what I thought was impossible, I like to be proven wrong.
July 02, 2021, 04:03:51 AM
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.
July 02, 2021, 03:59:49 AM
all the projects that we hold, all the companies they build, and whatever their work definitely requires capital, in opening a new business, I am very sure the miners must sell a little bit of their bitcoin, to provide for their family, family and needs for themselves, They have to pay workers salaries, electricity bills etc..
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July 02, 2021, 03:53:35 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?
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