None of the above.
Please add to the poll, "reinvest BTC in new mining gear"
Same here Please add to the poll, "reinvest BTC in new mining gear"
Topic: [Poll] Miners, what will you do with all your mined coins? (Read 1752 times)
None of the above.
Please add to the poll, "reinvest BTC in new mining gear"
Please add to the poll, "reinvest BTC in new mining gear"
I only do a statistics for the sell pressure of the coins, since that will affect the daily coin supply on market. If you reinvest in new mining gear, you still need to sell part of the coins (or the mining equipment maker sell part of it through bitpay)
Anyway it is clear the result here is almost the same as speculation board, e.g. most the miners hoard their coins and only spend a very little fraction of it. This is a healthy sentiment, the coin supply will continuously shrink, thus ensure a continuous rise in exchange rate
I agree they are scarce, but respectfully disagree they are too precious too be spent.
Oh well of course now that BBQcoins are worth too little to buy mining rigs with re-investing bitcoins into rigs sounds good... if any rigs ever come on the market that have a reasonable chance of turning a BTC-denominated profit, that is...
-MarkM-
None of the above:
Cash out my initial investment, reinvest ~10-25% and sit on the rest until BTC > $100,000.00.
Cash out my initial investment, reinvest ~10-25% and sit on the rest until BTC > $100,000.00.
None of the above.
Please add to the poll, "reinvest BTC in new mining gear"
Please add to the poll, "reinvest BTC in new mining gear"
I agree they are scarce, but respectfully disagree they are too precious too be spent. They work amazingly well as a currency which is their essence. Their long term value measured against fiat may or may not hold up when considered over decades. I can see a very real risk of zero value in my lifetime. I can also see a sharp rise in value over a shorter time period as more fiat currency comes into the ecosystem.
I believe that the less Bitcoin is used as money, the greater the chance the whole experiment can fail. So I spend them and pay transaction fees often.
I believe that the less Bitcoin is used as money, the greater the chance the whole experiment can fail. So I spend them and pay transaction fees often.
No options for spending them?
Very strange. That is their essence no?
Very strange. That is their essence no?
No, bitcoins are precious, good for long term store of value. There are a bunch of altcoins you get free alongside bitcoins when you merged mine, unless you think every one of those has better long term increase of value per coin prospects than bitcoin you are probably better off selling some of those when you want to buy stuff than selling bitcoins.
Sure you might have to do that by buying bitcoins with them then spending those resulting bitcoins, but the trick there is to close your eyes to the fact bitcoin is serving as an intermediary in the process and pretend you are spending the altcoins not your precious bitcoins.
But yeah if you think those altcoins all have more chance of doubling in value or multiplying in value by 10 or 100 than bitcoin does, sure, save them and spend your bitcoins...
-MarkM-
No options for spending them?
Very strange. That is their essence no?
Very strange. That is their essence no?
Hold for decades, only spending to cover emergency bills.
I tend to sell some for cash to buy things (and pay my electric costs), and I tend to spend a bunch on new miners when I see what looks like a bargain and gambling with preorders and chip buys and such.
I also buy Casascius coins from time to time and keep them as a way of locking BTC up for savings.
I also bought precious metals a time or two and keep them in a box beside the Casascius box.
I also buy Casascius coins from time to time and keep them as a way of locking BTC up for savings.
I also bought precious metals a time or two and keep them in a box beside the Casascius box.
You need another option for "Keep them indefinitely. Spend as needed for purchases"
You can pick the last one, 0% is also <10%
I've branched out and currently have holdings in at least a dozen coins plus I have 3 different investments going. Did not pick a poll answer, as I have not sold, only 'invested' and have no plans to sell.
I think you'll find a very diverse set of answers to this question.
Personally, I wanted to build a nice pile of bitcoin that I would not touch for many years (betting that these coins would be worth much more if bitcoin were still around in 10 years) that pile started out quite big and recently has become quite small. (sold a bunch when the price went ballistic and spent some more on some ASIC's)
Now my pile of bitcoin is much smaller than I would like and I do not plan on letting go of any more bitcoin until at least the next block halving (other than the occasional small purchase from bitmit or what-have-you)
Personally, I wanted to build a nice pile of bitcoin that I would not touch for many years (betting that these coins would be worth much more if bitcoin were still around in 10 years) that pile started out quite big and recently has become quite small. (sold a bunch when the price went ballistic and spent some more on some ASIC's)
Now my pile of bitcoin is much smaller than I would like and I do not plan on letting go of any more bitcoin until at least the next block halving (other than the occasional small purchase from bitmit or what-have-you)
You need another option for "Keep them indefinitely. Spend as needed for purchases"
Since ROI is itself already in bitcoins, they are no different than any other bitcoins.
The bitcoins are temporarily in the form of hardware and morph gradually back into on the blockchain coins, there is no "sell" involved...
-MarkM-
The bitcoins are temporarily in the form of hardware and morph gradually back into on the blockchain coins, there is no "sell" involved...
-MarkM-
Good point. Although most of the bitcoin investment will never ROI, but some of the early pre-order did. During the process, mining equipment manufacturer and electricity company indeed made some fiat profit, those money should eventually come from the true investors who bought coins thus injected fiat liquidity into bitcoin eco system
Since ROI is itself already in bitcoins, they are no different than any other bitcoins.
The bitcoins are temporarily in the form of hardware and morph gradually back into on the blockchain coins, there is no "sell" involved...
-MarkM-
The bitcoins are temporarily in the form of hardware and morph gradually back into on the blockchain coins, there is no "sell" involved...
-MarkM-
Sell only when the price seems high. ie in batches once a month.
Bump 
Combined with another poll here (https://bitcointalksearch.org/topic/poll-your-trading-style-295753), I want to do a research about the long term coin supply trend 
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