Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: Who has held bitcoin for more than 5 years?
by
mgoz
on 09/12/2020, 01:58:26 UTC
⭐ Merited by vapourminer (1)
I started mining in 2011 and have held for almost 10 years. At the time, it was about supporting the network, not making money. Unfortunately for me, I sold a good majority on Mt. Gox in 2013 when it hit $1k. This was primarily because when I started it wasn't even worth $1 and I never imagined it would have the value it has today. I was earning 0.05 BTC/day CPU/GPU mining with a single desktop up until the first halving in November 2012. After that, it started taking about 3 months to earn the same payout with the same gear but I stopped in 2013 after killing multiple PSUs and getting sick of replacing them.

What I didn't sell was primarily only held because Slushpool had a minimum payout of 0.5 or 1 BTC at the time. Surprisingly, they never touched it despite me not logging in or mining for 4 years until ATH in 2017. Their terms allowed them to take my coins but they didn't. This is a reason why I still mine with them now and I am only still mining because of investing the dust that was left.

I sold again in 2017 and 2020 when it was $19k and bought again at various prices including $3k between December 2018-March 2019, $4k in March 2020, and my entire stimulus check in April 2020 at $6k.