Topic: What do you do with your mined coin? (Read 940 times)

I usually sell a large portion to pay the costs, the rest can be stored or transferred to BTC coin. I always do the same to ensure life.

Rough ballpark half of my current hash is currently pointed at Nicehash, which cashes out to my Coinbase instant sell address - this is my "pay the monthly bills and buy food/gas/etc with" account at this point.
The other is kinda all over the place, but ends up getting converted to BTC (or right now just stays at LTC) for use later, usually for buying additions to my mining farm.

I used to have to use some of "the other" to pay bills with too, but the recent runup on most altcoins has been nice for saving up for growth (I plan to move into a new space soon with MUCH MORE POWER and better ventilation capability, just waiting on the current tenant to get around to moving out).

Phone typo sorry

Mine, sell 90% and keep tge profit umtil you habe enough for.new rig

It all depends really.  There are some coins i mine in which i hold due to where they are at in a trading range and there are others that i insta sell.  Depends on the coin/price/timing.  There really isnt one solud answer, at least for me.

BTC potential for stratospheric gains is pretty muted compared to some alts.  I mine quite a few different coins.  I trade coins but only between pairs that I want, in other words I wouldn't trade between a coin I want and a coin I don't want.  What coins do I want?  The ones that I see have good long term potential to see huge gains, namely DASH, ETH, and XMR right now.  I think ZCASH might have good long term potential but it isn't one I hold.  Since I mine BTC directly I don't sell my DASH, ETH or XMR that I mine for BTC.  In fact I occasionally use BTC to buy those three.  Everything else I wind up mining I am only mining to sell for BTC for the most part.  I am holding a couple obscure coins just in case, but I don't really expect them to amount to anything.  BTC I am spending lately because it is so high and because honestly I don't think the current price is justified.  Considering the scaling debate is still unresolved and that you have to attach an inordinately large fee to some transactions (and still wait for days) I just don't see it worth what it trades for, which makes it ripe for spending or selling.  I don't actually have any accounts I can sell to fiat.  I have accounts on exchanges where I could increase my verification and then cash out but I don't bother.  I buy mining gear and computer gear almost exclusively but I have also bought gift cards for various things.  For example I bought a $500 gift card for an airline ticket so I can go see the eclipse in August.

Yes re investing into mining is important its the only way to survive. Meaning when the POS comes out or the AMD Vega one must be prepared if you want to continue to have the passive income.

This is also a reason why I diversified mining with GPU and Litecoin. Im thinking of possibly getting an S9 to diversify even more the daily mining.

Regards

Everything straight to BTC, some then goes to FIAT to my bank, and some is used to buy more hardware 

I trade 90% of my daily mined eth and ltc into btc and hold the 10% eth and ltc. I'm just starting to trade 10% of my daily (or weekly) earned btc into usd, and hold the rest of the 90% btc.

For mue, dash, and dcr.. I trade 100% of it into btc..

If anyone has any comments or suggestions for what i'm doing with my coins, i'd appreciate the input

To clarify above its 12 KHS ! not MHS!  

ORIGINAL POST EDITED

I have a combination of Asus and Sapphire cards 470's 480's 4gb 8gb I really don't know exactly. I just added 6 570's but we are having issues with 1.

I also use a software called Simple Mining https://simplemining.net/ which makes it easy to manage really.

1 Rig runs 3 R9 390's they are older but still hash great!

regards

What are the specs of ur RIGS? Just curious and how did u get such a high hash rate.  OMG I am so jealous of ur hash rate. With my single GTX 950, I cant even mine any coins with it.

Hi guys

I currently have around 8 Rigs mining Zcash (12Khs) and one L3+ (Litecoin) so i am getting a decent amount of daily coin for my standards.

Currently mining directly to polo and my current intentions are to cash out some weekly USD for my personal profit and to pay bills, around 40% right now more less..

I currently only sell my zcash for BTC almost immediately if the price is right or place an order for a new small pump.

I have been buying alt’s when they go down and just hold or sell off a bit once it goes up. I also purchase a bit of ETH to hold for the future. I’m thinking of holding all my mined LTC for now.

I just was wondering what you guys do with what you mine. Do you sell immediately, hold, or just wait for the pumps.. I'm just curious to see what everyone else is doing.

Cheers