Bitcoin Forum

I'm in the process of setting up my first miningrig. Hardware is done, software and accounts are almost done. As some howto's state, i'd like to set the mining pools of multiple coins to deposit my share directly to a coin exchange, as this enables an autosell option.

I've registered at BTC-e, VirCurEx and Cryptsy. However, when i generate an address, every exchange seems to say direct mining to the exchange is not supported. Could someone clairify this for me? Some direct quotes are provided underneath:

BTC-E:
"We do not support generated transactions from pools like Eligius, P2Pool etc."

VirCurEx:
"Usage of addresses
DO NOT use Vircurex addresses for mining purposes. We cannot credit coins generated (instead of being sent)."

Cryptsy:
"Notice: Do NOT mine directly directly to your Cryptsy deposit address."

I use Bitminter and BTC-e.  I have my Bitminter set to auto deposit my coins to BTC-e at every .01 generated.  Been working flawlessly for over a week.

I have been configured my pool to transfer every 0.5 BTC to btc-e adress, no problem so far. 2 years already.

Maybe they don't want to overload their systems with the dust spam or something

Maybe they don't want to be on the hook when they have to change your payment address, hope you don't have it locked in at your pool  :-\

Still think it's strange, although it seems to work, based on your reactions. I was under the impression it had something to do with the diffrence between crediting and sending, as stated in the VirCurEx statement.

How could one differentiate the btc received is generated or sent? I don't think any differences between.

Not really, they are completely different.
Ordinary transaction involves "Input Scripts"; while coinbase transaction (block generation) involves no input.

Bitcoins mined by the pool are generated by the pool. Shares of the block reward are sent by the pool to miners just like any other transaction.

Is it save to say that these warnings/statement by the Exhanges are ment for solo miners and pools them selves?

I was wondering if i mining can i deposit my generated coins to blockchain.info wallet??

I have the same issue for 1.7 of my generated LTC in P2POOL which i haven't received into my BTC-E and got same answer from them.

May I know where is those generated amount of LTC in the network?

How is possible ?

You would have to know which block you or the pool solved to get that payout, so you could then go find the coinbase transaction and trace it to your btce address.

This is probably why they tell you not to do what you've done.

Why oh why would you not just have a wallet app running, especially when they tell you NOT to do what you did. Some people's laziness is just astounding.

It's just happened for some test running , i got my own wallet.

You mean when I find it out then they are able to help me out with that?

How exactly should I find the block for LTC?

This is the whole transactions and blocks:

http://block-explorer.com/address/LeYyRtp6BmsGEvhR3YtSVtHyD8mMnfLYcK

Is this exactly what BTC-e said?

"May I know where is those generated amount of LTC in the network?"

If so, all you need to do is send them this link, the one you just gave me. It shows that the coins are freshly minted, and that all transactions into your btce account are in fact coinbase transactions.
http://block-explorer.com/address/LeYyRtp6BmsGEvhR3YtSVtHyD8mMnfLYcK

They explicitly told you not to do that, so if you lost money it's really not their fault.

No they just said we are not able to provide the mined coin from p2pool !

I'm confused where are the coins now ? FUNNY

That was useful info for myself.

space... the final frontier...

 ;D ;D ;D ;D

They should be in their account no?!

No, Eligius and P2pool pay participants using a different way than most other pools, that technically behaves like solo mining. The payouts are performed in the coinbase transaction in blocks they mine.

so for myself because it's very a useful for bitcoiners

Exactly, they put the miners' address directly in the coinbase tx.

I don't really understand why people still use the exchange deposit addresses to collect P2Pool payment when the exchanges explicit ask you not to do so.

But why can't you mine to a deposit address, OK, they say you can't, but why not.

They mean they cannot accept newly generated coins directly.  For example, when you mine on p2pool, the coinbase transaction that generates the new coins from the block reward pays your address directly with a portion of those new 25BTC.  Most exchanges don't like this - their APIs can't handle it.  Other pools (like kano, BTC Guild, etc) wait until the coins have confirmed and pay you then.  These types of payments are something the exchanges can accept.

Basically:

If you are getting newly generated coins directly as part of the block reward for your coin, exchanges will not work.