Do i need to download the block chain if i'm mining with a pool?

gurki

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Quote from: JoelKatz on October 11, 2012, 05:46:53 AM

Quote from: gurki on October 11, 2012, 05:43:42 AM

Quote from: greyhawk on October 11, 2012, 05:36:33 AM

Quote from: gurki on October 11, 2012, 05:32:14 AM

but i can also use online wallets which do not require the blockchain and will get my money stolen

ftfy

ok, so i guess i will be downloading the blockchain and using a local wallet then.

You actually only need the blockchain to spend. Also, make sure you save a copy of the private key corresponding to the account you're mining payments are going to.

Ok, thanks man.

JoelKatz

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Democracy is vulnerable to a 51% attack.

Quote from: gurki on October 11, 2012, 05:43:42 AM

Quote from: greyhawk on October 11, 2012, 05:36:33 AM

Quote from: gurki on October 11, 2012, 05:32:14 AM

but i can also use online wallets which do not require the blockchain and will get my money stolen

ftfy

ok, so i guess i will be downloading the blockchain and using a local wallet then.

You actually only need the blockchain to spend. Also, make sure you save a copy of the private key corresponding to the account you're mining payments are going to.

gurki

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Activity: 102

Merit: 10

Quote from: greyhawk on October 11, 2012, 05:36:33 AM

Quote from: gurki on October 11, 2012, 05:32:14 AM

but i can also use online wallets which do not require the blockchain and will get my money stolen

ftfy

ok, so i guess i will be downloading the blockchain and using a local wallet then.

greyhawk

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Quote from: gurki on October 11, 2012, 05:32:14 AM

but i can also use online wallets which do not require the blockchain and will get my money stolen

ftfy

gurki

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Activity: 102

Merit: 10

Ok i think i get it, if i want to use bitcoin-qt for my wallet i need the blockchain but i can also use online wallets which do not require the blockchain.

Thanks guys.

RaTTuS

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Bite me

depending on the pool you can keep the coins in your account there and spend from there .... if you want .,..
I personally would have an address that I would send my pool coins to ...

dentldir

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To receive your coins from the mining pool you will need a wallet. Try blockchain.info for an online one with decent privacy and security. Or download the block chain with the qt-client.

gweedo

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Quote from: gurki on October 10, 2012, 10:35:34 PM

Quote from: gweedo on October 10, 2012, 10:21:21 PM

if you want to spend funds with the official program, you need the full blockchain

I don't understand, could you please explain.

Ok the bitcoin-qt doesn't allow you to run it without the blockchain so if that is what your using for your wallet, then you need the full blockchain to spend the funds. Cause mining doesn't require the block chain, your wallet does.

gurki

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Quote from: gweedo on October 10, 2012, 10:21:21 PM

if you want to spend funds with the official program, you need the full blockchain

I don't understand, could you please explain.

gweedo

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if you want to spend funds with the official program, you need the full blockchain

gurki

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Merit: 10

Quote from: 007 on October 10, 2012, 06:46:15 PM

That's correct.

Thanks.

007

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That's correct.

gurki

member

Activity: 102

Merit: 10

Hey guys, newbie question here: when i first downloaded the "official" bitcoin client it took sooooo long to download the block chain.

Anyway, am i right in believing that when you mine with a pool that downloading the chain is not needed?

Thanks.

Topic: Do i need to download the block chain if i'm mining with a pool? (Read 1896 times)