Quote from: groko271 on August 18, 2018, 11:38:56 PM

Quote from: olumyd on August 18, 2018, 03:28:56 AM

Quote from: groko271 on August 17, 2018, 08:22:15 AM

Quote from: olumyd on June 12, 2018, 01:37:12 PM

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Lol... really good times I suppose (the milk crates), know of any low rating crypto in this age I could mine using such a setup?

no idea mate. My friend was the tech guy, he traveled a lot so we set up the rig at my place and split the coins. it was more of a hobby and a lot of fun. I consider it a lucky fluke that the value went were it did.

Quote from: Heidim on August 18, 2018, 06:18:44 AM

Quote from: groko271 on August 17, 2018, 08:22:15 AM

Quote from: olumyd on June 12, 2018, 01:37:12 PM

Just have a few questions for those who bought/mined BTC early in the days when things weren't this crowded.

1. How long did it take for a transaction to be confirmed?

2. What were the other issues experienced apart from Hardware complications and energy requirements?

Not sure how early you mean, but in late 2011 my friend brought over 4 gpu's and we built a crappy miner out of a milk crate. I dont remember the specific confirm times, but it was quick and never seemed to be an issue.

Regarding point 2 we stopped mining btc about a year later due to the algo diff increase and the formation/competition of many pools/miners winning the blocks. We never considered the power costs back then, so we then switched over to mining litecoin for a year or so after that.

Did you keep those early mined coins ( both BTC & LTC) or did you sell before the prices got so high?

Regarding btc I have kept about half of them, moved to paper wallets and kept in a safe place. We were done with mining btc before the price skyrocketed so yeah we still had most of our coins when it did. I did sell a few btc close to the ATH, for reinvesting purposes etc..In late 2012 We did give 20btc each to some friends and family and told them to hold until 2020 lol, I think only 1 of them has kept the coins until now.
As for litecoin, most coins were held until the introduction of segwit and many were sold at about 75% of the ATH.

These days, my strategy in general is to sell 10% every time the price doubles, that way I dont dump everything while maintaining a good cash injection every now and then. Sadly 2018 hasn't seen any doubling in prices yet lol.

Wow!! 20 Btc each! Everybody needs a friend like you. Wink

Yes, 2018 has been brutal but you've been holding so long now so another 2-3 years makes no difference right?