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I'm sure this is a stupid question; but please be gentle, I am still learning the basics.

Some Background:

I have a rig I purchased from a 3rd party that mines ETH using MiningPoolHub.com. It collects all the mined coins and displays them under my dashboard page on MiningPoolHub.com. Once it hits a specific threshold (that I set) it transfers the coins to coinbase wallet account. I have this address set on the wallet page of MiningPoolHub.com. This all works fine. As an educational exercise I have decided to build my own rig and mine using this same pool. It's built, running Xubuntu, and the etherium software has been installed.

The Question:

Here is where I am stuck. All of the tutorials and information I can find online seem to say the next step is to create a wallet where the coins will be deposited to. However this doesn't seem correct to me because my current setup leaves the coins in my MiningPoolHub.com account and THEN transfers them to my existing wallet with coinbase. Could someone please point me in the right direction of the next step I need to take?

Thank you for your time.

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2 Answers 2

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If you just want to keep using Coinbase, you could theoretically keep telling MiningPoolHub.com to send funds to your Coinbase account as you have been doing. In which case, you do not have to setup a new wallet.

However, Coinbase explicitly asks users not to mine to wallets on their site. It would be better to setup your own wallet (look into mobile wallet apps, they're super light and easy to setup). Then your miner can still point to MiningPoolHub.com, and then tell MiningPoolHub.com to send the mined ether to your new wallet (or Coinbase, but I recommend against it).

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  • Thank you for your response. Two Questions. 1) It looks like I need a wallet address when connecting the rig to mine from a pool. I did not have the Coinbase wallet until after the first rig started mining. Am I misunderstanding the rig -> pool connection? 2) Is transferring all mined coins after they hit a threshold to coinbase still considered mining to that wallet? I always thought of it more as a transfer of coins "mined" into my MiningPoolHub.com account.
    – user10012
    Jun 8, 2017 at 18:29
  • So from geth or whatever mining client you are using, you should have to specify the mining pool's link. I'm assuming that in your case the mining pool just had it's own wallet. And then you just tell the mining pool where to send the funds, i.e. Coinbase
    – user9402
    Jun 8, 2017 at 18:33
  • You are mining to a wallet on MiningPoolHub, and then when it reaches a threshold they do a transaction from that wallet to your Coinbase wallet
    – user9402
    Jun 8, 2017 at 18:34
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To add a little... Also new but learning.

My third-party rig came with the builders ether address. Nothing sinister - they just generally test their work for some time prior to shipping.

In the config file on my rig I needed to enter my ether deposit address. I used a Poloniex deposit address which has now become problematic since they have ETH issues and can't accept deposits. In my pool you need your personal ETH deposit address to monitor your progress. If you have not entered your ETH deposit address it might be mining to someone else's address. (Not sure it could work any other way unless your pool had you formally sign up - my pool is anonymous - deposit address only.)

I recently viewed the video attached regarding setting up an off-line ether wallet. Setting up an ETH wallet seemed difficult until I saw this. It seems to be the only way to go. Coinbase or Poloniex have too much control over your deposits and have both had access issues in the past couple of months. Your personal ETH address is under your direct control.

Hope this is helpful.

https://www.youtube.com/watch?v=Txq8nSM8DWc

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