I am looking to buy bitcoins directly from miners from a pool

RealPhotoshoper

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Quote from: monteleonesub814 on March 15, 2016, 08:02:22 AM

Hi, was referred to this forum by a friend.

I do not want the hassle of buying and managing miners.

I just want to work out an arrangement via escrow if possible where I put money into escrow, we can start with small amounts, you put the bitcoins directly into my wallet from your machine. It won't work for me if you first mine into your wallet though.

Is this something you think people are open to.

Or is there a service that does this very thing?

yeah,bitcoin from miners is fresh and its classic bitcoin,but i dont think some miners here want to sell their bitcoin,they will more glad to keep on wallet or sell it in exchange with big mount of bitcoin,and now is good day to buy bitcoin,but not for selling bitcoins.

Amph

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if you can not find any that want to sell you bitcoin directly, you can try to buy strong altcoin directly from miner(usually they are less reluctant to do so than bitcoin miner) and then convert in bitcoin

DannyHamilton

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Quote from: odolvlobo on March 15, 2016, 01:37:30 PM

I believe that most pools don't pay miners in the generation transaction; P2Pool and Eligius are the exceptions.

Correct. So, if the OP wants bitcoins mined directly to their address they'll need to choose a pool that does that.

On the other hand, if they are willing to accept transactions that are paid to them using generation transactions as inputs, there may be additional pools they can choose.

I suspect that there might even be some pools that pay the mining participants with a mix of new generations AND outputs that are several transactions away from generation.

odolvlobo

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Quote from: DannyHamilton on March 15, 2016, 10:18:56 AM

Quote from: monteleonesub814 on March 15, 2016, 08:57:10 AM

Quote from: pedrog on March 15, 2016, 08:42:30 AM

You cannot buy $100 of bitcoin the way you are describing, you have to buy the entire reward, 25 + fees bitcoins each time, that's around $11000 at todays price.

can you please explain what you mean more, what is entire reward and why can't i buy in small amounts?

There is no need to "buy the entire reward, 25 + fees bitcoins each time". Miners in a pool can receive fractions of the block reward directly to their address in the generation transaction.

I believe that most pools don't pay miners in the generation transaction; P2Pool and Eligius are the exceptions.

Quickseller

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A couple of things:

Most pools that realistically will be able to do this for you are trust with large amounts of other people's bitcoin and are likely more trustworthy then most escrow services around here. You would however still need to be sure that you are actually dealing with the pool operator prior to sending BTC though.

If you are only buying $100 worth of bitcoin from a pool each month, then you probably would only be willing to pay a premium of no more then $10 or so, which is probably not going to be worth the pool operator's time.

What would probably be the best way that you can achieve what you want to achieve, would be to rent "hashpower" from a site like nicehash and have that "hashpower" "pointed" at eligius which will pay out your mining rewards via the coinbase transaction when it finds a block. You will however be subject to the "luck" that elgius incurs when you are mining and will most likely need to pay a premium for the hashpower you rent on nicehash.

DannyHamilton

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Quote from: monteleonesub814 on March 15, 2016, 08:57:10 AM

Quote from: pedrog on March 15, 2016, 08:42:30 AM

You cannot buy $100 of bitcoin the way you are describing, you have to buy the entire reward, 25 + fees bitcoins each time, that's around $11000 at todays price.

can you please explain what you mean more, what is entire reward and why can't i buy in small amounts?

Don't waste your time in conversation with pedrog. Like most people carrying advertisements in the signature space of their posts, he gets paid by an advertiser for creating posts. He therefore has an incentive to create as many posts as he can, and isn't motivated to be correct in the things that he says.

He is posting nonsense, don't let it confuse you. There is no need to "buy the entire reward, 25 + fees bitcoins each time". Miners in a pool can receive fractions of the block reward directly to their address in the generation transaction. However, you'll want to be aware that bitcoins that are newly mined cannot be immediately spent. They require 100 confirmations before you can spend them.

pedrog

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Quote from: monteleonesub814 on March 15, 2016, 08:57:10 AM

Quote from: pedrog on March 15, 2016, 08:42:30 AM

You cannot buy $100 of bitcoin the way you are describing, you have to buy the entire reward, 25 + fees bitcoins each time, that's around $11000 at todays price.

can you please explain what you mean more, what is entire reward and why can't i buy in small amounts?

As far as I understand you want bitcoins without any transaction history, and you want the coins to be directly mined into your own address, in this case you need to buy the entire block reward.

Here's an example:

https://blockchain.info/tx/1269e74d8c4632a0d9d711922b2ad99630996b6141a8943747f780e60802ddc8

monteleonesub814

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Quote from: pedrog on March 15, 2016, 08:42:30 AM

You cannot buy $100 of bitcoin the way you are describing, you have to buy the entire reward, 25 + fees bitcoins each time, that's around $11000 at todays price.

can you please explain what you mean more, what is entire reward and why can't i buy in small amounts?

pedrog

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You cannot buy $100 of bitcoin the way you are describing, you have to buy the entire reward, 25 + fees bitcoins each time, that's around $11000 at todays price.

monteleonesub814

newbie

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i can pay the miner no issue because the bitcoins he's going to give me come directly from a pool, so I have no issue if he knows me

what i need to prevent is where i spend the bitcoins them not being able to find the person I paid which they won't since it's not going to be wallet to wallet, since i'm getting directly from the pool.

all i'm wanting to do is plugging my wallet directly into your mining machine for the amount we agree upon then you plug it back to your wallet

that's it

becoin

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Quote from: monteleonesub814 on March 15, 2016, 08:32:03 AM

but i can't use any method that leaves trail

How can you use escrow without leaving a trail?
How can you pay (if not face to face) without leaving a trail?
Are you sure you know what you want?

7788bitcoin

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Quote from: monteleonesub814 on March 15, 2016, 08:22:32 AM

People can give me a proposal on what they think is reasonable.
I need approximately $75-100 per month (to pay for a server) in bitcoins per month so it's not a big deal either way.

To my understanding it can be verified the block, no?

There are so many ways you can buy bitcoin. Did you mean you want to buy the coins that are newly generated by the mining process.

I don't see any real advantage of owning those coins, except that they are free from any past history that may be linked to crime or other unwanted/illegal activities.

monteleonesub814

newbie

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escrow isn't mandatory, but would like to start small to make sure i'm not cheated obviously
but i can't use any method that leaves trail , so all those services like localbitcoins won't work and not even face to face for my case won't work

becoin

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No miner will undergo the escrow hassle for $75-100 per month. You should try to use services like localbitcoins.com for such needs.

utbeauchamp

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You could always use an online exchange to buy the bitcoin every month. I use Coinbase and the fee is only 1% if you link a bank account. Might be easier than depending on a miner to produce the coins.

Mining payouts can be variable since finding blocks is based on luck

monteleonesub814

newbie

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People can give me a proposal on what they think is reasonable.
I need approximately $75-100 per month (to pay for a server) in bitcoins per month so it's not a big deal either way.

To my understanding it can be verified the block, no?

becoin

legendary

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Two questions:

1. What is the maximum % of premium you can afford to pay above market price?
2. How will you be sure bitcoins you buy are coming 'directly from miners from a pool'?

monteleonesub814

newbie

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Hi, was referred to this forum by a friend.

I do not want the hassle of buying and managing miners.

I just want to work out an arrangement via escrow if possible where I put money into escrow, we can start with small amounts, you put the bitcoins directly into my wallet from your machine. It won't work for me if you first mine into your wallet though.

Is this something you think people are open to.

Or is there a service that does this very thing?

Topic: I am looking to buy bitcoins directly from miners from a pool (Read 2050 times)