Mining coins save or sell it? - page 31.

Rahar02

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Quote from: TheLastSpicyTuna on November 26, 2015, 02:36:37 AM

Right now i trying to mining a lot of coins, i thinking its mabey its good to save the coins like 6-12 mdr before selling it.

Can orther explain about its a good point else about the risk its to high to lose to lot on it?

Mining altcoin may profitable if the demands are pretty high but just some coins are worthy I thought such as icn.
Well, I don't rely on altcoin as I didn't get into trading yet. I prefer to saving bitcoin due to the best cryptocurrency ever.
If you feel that those coins are profitable than continue to mining and sell some, if not than leave it.

trigger1975

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Quote from: coinplus on December 27, 2016, 03:26:23 PM

nk it is a great to get different coins but the exchange rate on some of the coins is not worth wasting time , the best thing to do is to wait for their price to go up , as the bitcoin becomes harder to mine people will start mining other coins in order to exchange them to bitcoin which will make their price go up.

Why should it rise? If more people mine a dedicated alt coin and try to convert it to BTC it needs more people trying to convert BTC to that alt coin. Otherwise you'll have more sellers than buyers which will drop the price. Or am I wrong thinking?

//alex

coinplus

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Quote from: transabox on December 27, 2016, 07:33:34 AM

Quote from: bncbnc on December 26, 2016, 03:27:00 PM

Quote from: rajasumi3 on December 26, 2016, 01:45:56 AM

I think its always better to sell the bitcoins after a quite bit of time .because u dont know when the price of bitcoins will go down and go extinct .there is also possibility that ur country might not accept bitcoins and abandon bitcoins.what will u do then ? Thats y sell it as soon as u get it .

i think selling bitcoin should not be an issues, because bitcoin is becoming stronger and stronger from time to time and some shopkeepers are now also accepting bitcoin therefore to me i think you should only wait for the price increase and when you consider the right time to sell bitcoin then you should do it on the spot and do not wait any more.

We should not make decisions for other people. Especially in this case can not give advice. If a person urgently need the money - even sell your Bitcoins, he will take this decision

I think it is a great to get different coins but the exchange rate on some of the coins is not worth wasting time , the best thing to do is to wait for their price to go up , as the bitcoin becomes harder to mine people will start mining other coins in order to exchange them to bitcoin which will make their price go up.

transabox

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Quote from: bncbnc on December 26, 2016, 03:27:00 PM

Quote from: rajasumi3 on December 26, 2016, 01:45:56 AM

I think its always better to sell the bitcoins after a quite bit of time .because u dont know when the price of bitcoins will go down and go extinct .there is also possibility that ur country might not accept bitcoins and abandon bitcoins.what will u do then ? Thats y sell it as soon as u get it .

i think selling bitcoin should not be an issues, because bitcoin is becoming stronger and stronger from time to time and some shopkeepers are now also accepting bitcoin therefore to me i think you should only wait for the price increase and when you consider the right time to sell bitcoin then you should do it on the spot and do not wait any more.

We should not make decisions for other people. Especially in this case can not give advice. If a person urgently need the money - even sell your Bitcoins, he will take this decision

bncbnc

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Quote from: rajasumi3 on December 26, 2016, 01:45:56 AM

I think its always better to sell the bitcoins after a quite bit of time .because u dont know when the price of bitcoins will go down and go extinct .there is also possibility that ur country might not accept bitcoins and abandon bitcoins.what will u do then ? Thats y sell it as soon as u get it .

i think selling bitcoin should not be an issues, because bitcoin is becoming stronger and stronger from time to time and some shopkeepers are now also accepting bitcoin therefore to me i think you should only wait for the price increase and when you consider the right time to sell bitcoin then you should do it on the spot and do not wait any more.

burner2014

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Quote from: rajasumi3 on December 26, 2016, 01:45:56 AM

I think its always better to sell the bitcoins after a quite bit of time .because u dont know when the price of bitcoins will go down and go extinct .there is also possibility that ur country might not accept bitcoins and abandon bitcoins.what will u do then ? Thats y sell it as soon as u get it .

Mining is good for those who has money to make capital because mining is costly and risky while saving your bitcoin is better. If I were you if you don't that much need money then save even half of your bitcoin earnings and let it age for about 1-2 years or just sell the other half or trade the others. You should just know how to whirl your money and make your own strategy.

rajasumi3

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I think its always better to sell the bitcoins after a quite bit of time .because u dont know when the price of bitcoins will go down and go extinct .there is also possibility that ur country might not accept bitcoins and abandon bitcoins.what will u do then ? Thats y sell it as soon as u get it .

Bestwishes745

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Quote from: Blackdeath on December 16, 2016, 07:10:38 AM

Quote from: JumperX on September 24, 2016, 11:54:52 AM

I won't go for mining as it won't be profitable enough for me to invest in it, so if I see price going lower in coming days then will prefer to buy some and save them for the future.

Bitcoin mining is excellent for those people whom getting huge income that will seek for great potential of mining profit. Mining is profitable if you have many cpu that will work for you. Also, investing in mining is worth it as time goes by.

There are some people who mine only a single currency so they often think that job as not beneficial but those who mine a lot of coins are earning a good income from that job and are wealthy. Last month I heard from my cousin that his friend is mining coins and with this he is much wealthy.

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Well, I'm not sure if I understood the OP's question properly but I guess mining needs some time to occupy the sums (about 6months), so you better wait till you gather the sum you spent, at least. Then you can sell this money to get the real sum you spent back in USD. After that if everything is still working you can wait a bit and see how the situation with the price is going and sell the money when the price is fine for you and when you know on what to spend the money.

Text

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Quote from: lol3c on December 20, 2016, 03:19:29 AM

I do agree with you. As the Bitcoin price keep increasing, holding it is the best option right now. Save every coin you have mined so that in the future you can sell it with the better price. Looking forward to seeing how bitcoin price be like after the third halving in the next 4 years.

Thumb up for this, I always save every coin I collected. I keep it growing... Saving is my main priority now and then. Of course I'm making a cash out monthly just to pay my internet bills and to provide my daily needs and to support my other side lines.

btcdiggingmaster

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Quote from: maydna on December 16, 2016, 04:54:19 AM

Quote from: trigger1975 on December 14, 2016, 04:49:57 PM

Quote from: TheLastSpicyTuna on November 26, 2015, 02:36:37 AM

Right now i trying to mining a lot of coins, i thinking its mabey its good to save the coins like 6-12 mdr before selling it.

Can orther explain about its a good point else about the risk its to high to lose to lot on it?

Nobody can tell you about the future and if it's good to hold or sell your mined coins. But, I started mining back in 2011 and over the years until 2013 when I stopped, I mined >50 BTC. I sold the most of it when Bitcoin hit 15 US$ at MtGox as I thought it was astonishing good deal.

I sold a second small batch in 2013 when Bitcoin hit 1000 US$ at MtGox which was a good deal. But except the small batch in 2013, I'd be glad if I could turn back the time and still do have my >50 BTC in my wallet. So from my perspective: sell as much as you need to cover the cost and save the rest.

// Alex

i wish i can mining at least 0.5 btc for a week but its really hard because the diff is increase and without high-end hardware or big hashrate, i can not make that amount. but for mining coins, i will save it first and if i see the price is getting high than before, maybe i will sell it for half and wait for a while for another high in price.

It is very vice decision because without making any money how long we keep on saving, every time it is not possible to save every thing, But with your plan you save half of the bitcoin and you can sell the half for your hardware increase, so that you may get more coins of what your getting now.

Alubert

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Quote from: lol3c on December 20, 2016, 03:19:29 AM

Quote from: Mometaskers on December 20, 2016, 01:32:20 AM

I've never mined btc but I'm seeing that you'll get less and less overtime, not to mention electricity prices are not going down. I'd say hold on to your btc for at least 6 mos and see where the price is going. Only exchange for fiat when necessary. If you don't like them just standing there earning nothing, then use a small amount of it for trading.

It would really depend on your mindset. If you're thinking of them more as savings then holding on to them would be great as the value appreciate versus fiat. On the other hand if you think more as a trader then letting them just sit there is a bad idea since you're not getting more btc.

IMHO a mixed approach is best.

I do agree with you. As the Bitcoin price keep increasing, holding it is the best option right now. Save every coin you have mined so that in the future you can sell it with the better price. Looking forward to seeing how bitcoin price be like after the third halving in the next 4 years.

If the miners have the spare cash from fiat, it is better to save all the mining proceeds.

lol3c

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Quote from: Mometaskers on December 20, 2016, 01:32:20 AM

I've never mined btc but I'm seeing that you'll get less and less overtime, not to mention electricity prices are not going down. I'd say hold on to your btc for at least 6 mos and see where the price is going. Only exchange for fiat when necessary. If you don't like them just standing there earning nothing, then use a small amount of it for trading.

It would really depend on your mindset. If you're thinking of them more as savings then holding on to them would be great as the value appreciate versus fiat. On the other hand if you think more as a trader then letting them just sit there is a bad idea since you're not getting more btc.

IMHO a mixed approach is best.

I do agree with you. As the Bitcoin price keep increasing, holding it is the best option right now. Save every coin you have mined so that in the future you can sell it with the better price. Looking forward to seeing how bitcoin price be like after the third halving in the next 4 years.

Mometaskers

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I've never mined btc but I'm seeing that you'll get less and less overtime, not to mention electricity prices are not going down. I'd say hold on to your btc for at least 6 mos and see where the price is going. Only exchange for fiat when necessary. If you don't like them just standing there earning nothing, then use a small amount of it for trading.

It would really depend on your mindset. If you're thinking of them more as savings then holding on to them would be great as the value appreciate versus fiat. On the other hand if you think more as a trader then letting them just sit there is a bad idea since you're not getting more btc.

IMHO a mixed approach is best.

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Quote from: Pasutinmeur on December 19, 2016, 11:59:45 AM

Quote from: Blackdeath on December 16, 2016, 07:10:38 AM

Quote from: JumperX on September 24, 2016, 11:54:52 AM

I won't go for mining as it won't be profitable enough for me to invest in it, so if I see price going lower in coming days then will prefer to buy some and save them for the future.

Bitcoin mining is excellent for those people whom getting huge income that will seek for great potential of mining profit. Mining is profitable if you have many cpu that will work for you. Also, investing in mining is worth it as time goes by.

If you do not have very cheap electricity, it is not profitable to mine.

You have to live in china to benefit of the cheap electricity, more miners are operating profitably there and in fact most miners are chinese. Moreover, it's not the electricity alone that must be considered, we have to understand that the mining equipment would already cost you much, so think wisely and evaluate yourself if you can afford to start this kind of business.

Pasutinmeur

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Quote from: Blackdeath on December 16, 2016, 07:10:38 AM

Quote from: JumperX on September 24, 2016, 11:54:52 AM

I won't go for mining as it won't be profitable enough for me to invest in it, so if I see price going lower in coming days then will prefer to buy some and save them for the future.

Bitcoin mining is excellent for those people whom getting huge income that will seek for great potential of mining profit. Mining is profitable if you have many cpu that will work for you. Also, investing in mining is worth it as time goes by.

If you do not have very cheap electricity, it is not profitable to mine.

Blackdeath

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Quote from: JumperX on September 24, 2016, 11:54:52 AM

I won't go for mining as it won't be profitable enough for me to invest in it, so if I see price going lower in coming days then will prefer to buy some and save them for the future.

Bitcoin mining is excellent for those people whom getting huge income that will seek for great potential of mining profit. Mining is profitable if you have many cpu that will work for you. Also, investing in mining is worth it as time goes by.

maydna

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Quote from: trigger1975 on December 14, 2016, 04:49:57 PM

Quote from: TheLastSpicyTuna on November 26, 2015, 02:36:37 AM

Right now i trying to mining a lot of coins, i thinking its mabey its good to save the coins like 6-12 mdr before selling it.

Can orther explain about its a good point else about the risk its to high to lose to lot on it?

Nobody can tell you about the future and if it's good to hold or sell your mined coins. But, I started mining back in 2011 and over the years until 2013 when I stopped, I mined >50 BTC. I sold the most of it when Bitcoin hit 15 US$ at MtGox as I thought it was astonishing good deal.

I sold a second small batch in 2013 when Bitcoin hit 1000 US$ at MtGox which was a good deal. But except the small batch in 2013, I'd be glad if I could turn back the time and still do have my >50 BTC in my wallet. So from my perspective: sell as much as you need to cover the cost and save the rest.

// Alex

i wish i can mining at least 0.5 btc for a week but its really hard because the diff is increase and without high-end hardware or big hashrate, i can not make that amount. but for mining coins, i will save it first and if i see the price is getting high than before, maybe i will sell it for half and wait for a while for another high in price.

miakama

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Quote from: trigger1975 on December 14, 2016, 04:49:57 PM

Quote from: TheLastSpicyTuna on November 26, 2015, 02:36:37 AM

Right now i trying to mining a lot of coins, i thinking its mabey its good to save the coins like 6-12 mdr before selling it.

Can orther explain about its a good point else about the risk its to high to lose to lot on it?

Nobody can tell you about the future and if it's good to hold or sell your mined coins. But, I started mining back in 2011 and over the years until 2013 when I stopped, I mined >50 BTC. I sold the most of it when Bitcoin hit 15 US$ at MtGox as I thought it was astonishing good deal.

I sold a second small batch in 2013 when Bitcoin hit 1000 US$ at MtGox which was a good deal. But except the small batch in 2013, I'd be glad if I could turn back the time and still do have my >50 BTC in my wallet. So from my perspective: sell as much as you need to cover the cost and save the rest.

// Alex

That is right. But if the bitcoin price will keep on rising like it did in the last 8 years, then it is better to save.

trigger1975

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Quote from: TheLastSpicyTuna on November 26, 2015, 02:36:37 AM

Right now i trying to mining a lot of coins, i thinking its mabey its good to save the coins like 6-12 mdr before selling it.

Can orther explain about its a good point else about the risk its to high to lose to lot on it?

Nobody can tell you about the future and if it's good to hold or sell your mined coins. But, I started mining back in 2011 and over the years until 2013 when I stopped, I mined >50 BTC. I sold the most of it when Bitcoin hit 15 US$ at MtGox as I thought it was astonishing good deal.

I sold a second small batch in 2013 when Bitcoin hit 1000 US$ at MtGox which was a good deal. But except the small batch in 2013, I'd be glad if I could turn back the time and still do have my >50 BTC in my wallet. So from my perspective: sell as much as you need to cover the cost and save the rest.

// Alex

Topic: Mining coins save or sell it? - page 31. (Read 106756 times)