Bitcoin Forum

Alternate cryptocurrencies => Service Discussion (Altcoins) => Topic started by: insaniak on June 22, 2017, 05:14:44 AM



Title: Can I mine directly to bittrex?
Post by: insaniak on June 22, 2017, 05:14:44 AM
Can I mine directly to bittrex? So payouts from ethermine and supernova and such? I want to set up automatic minin. For alt coins to auto sell into bitcoin


Title: Re: Can I mine directly to bittrex?
Post by: insaniak on June 22, 2017, 06:56:18 PM
Up


Title: Re: Can I mine directly to bittrex?
Post by: eBunny6 on June 22, 2017, 10:58:53 PM
Bump.


Title: Re: Can I mine directly to bittrex?
Post by: not.you on June 22, 2017, 11:12:58 PM
Depends on how the pool does payouts.  If the pool keeps a hot wallet and pays you at a certain threshold then yes you can use an exchange wallet address.  If the pool does coinbase transactions (which is actually rare outside of bitcoin) then you are better off not using an exchange wallet.  For suprnova everything I ever mined I used an exchange address for payouts (bittrex or polo mostly).  I am not familiar with ethermine.

Since there is an exchange called coinbase let me clarify that a coinbase transaction refers to what address or addresses get paid from the coins in a newly generated block.  Most commonly a pool will always send newly generated coins to the same pool owned address and then pay miners from that wallet address.  But they don't have to.  A new block can send the newly generated coins to any number of addresses and some pools pay miners that way.  Sometimes exchange wallets are not setup to receive those kind of transactions.

Also though, if the pool pays lots of little payouts, exchanges don't usually want those.  Check the deposit requirements for the specific coin on the exchange.  Sometimes they won't credit your account on the exchange of you are getting deposits below a certain threshold.  Those dust payments require higher fees to consolidate so exchanges don't usually like that.