Is it possible for the Pool to reduce the Bitcoin withdrawal fee? 0.0001BTC would be ideal. If not ,why?
I think if the fee was free then it could be abused because MiningPoolHub still has to pay a fee.
I'm not saying it should be free. It could be on the same level of Poloniex which is about 0.0001 BTC . This is only a quarter of the fee right now at MPH.
The transaction may be processed a little slower but we would save not an insignificant amount of BTC in the long term.
It would save me 6-10$ a month for instance and I am having a payout every 2 days. Which amounts to 0.006BTC(0.0004*15) each month
Bitfinex's withdrawal fee is zero.
https://www.bitfinex.com/feesWhy do they do that? It's their marketing strategy. They can sustain the withdrawal loss because they make so much money everyday.
poloniex seems like balancing transaction speed and fee in smart way.
Also they can risk with that fee because they make so much money.
But actually pool is different.
There's so many withdrawal request everyday, and I can't cover whole withdrawal fee loss. That's quite huge.
I'll try to find lowering the fee but it's not that easy because balancing the transaction speed and fee is quite hard.
Also current pool system doesn't use rawtransaction api, I should modify some MPOS structure to support this.
Currently pool is using bitcoin's automatic fee detection system. We just send money and bitcoin wallet will automatically set appropriate fee.
Sometimes even this doesn't work well. Coins remain in mempool for more than few days.
Maybe you would say it's okay to not receive more than 3 days, but most pool users will be angry with this.
I also experienced this few months ago. Some miners were anxious and little angry about transaction delay.
I would recommend you to withdraw with other currency if you are concerned much about it currently.
Anyway I'll find better way.
Thanks.