Re: [70+PH] KanoPool kano.is 0.9% PPLNS US,DE,SG,JP,NL,NYA 🐈
Can anyone answer a couple of questions for me? I have my payments from here sent to my Ledger Nano S and then I send those funds to the exchange I use. The transaction fee continues to grow every time I send funds from my nano to the exchange. For a 60 dollar transaction it is up to almost 15 bucks to send to the exchange. Why is that transaction fee continuing to grow every time I send funds to the exchange?
The other question is, what happens if I select a custom transaction fee and I send it with the minimum satochies (however you spell them)? I tried it and set it at the minimum, which was 100. What happens if I get no confirmations on that transaction? Does it eventually come back to my Nano S?
Thanks!
And grats on all the blocks!
The other question is, what happens if I select a custom transaction fee and I send it with the minimum satochies (however you spell them)? I tried it and set it at the minimum, which was 100. What happens if I get no confirmations on that transaction? Does it eventually come back to my Nano S?
Thanks!
And grats on all the blocks!
It's because the transaction fee is denominated in btc/kb and btc price has been going up. The reason is your $60 is made up of many small transactions which take up more byes.
I would just have the funds sent directly from Kano to the exchange, that way the TX fees are the exchange's problem - and most charge only one small fee to send.
I.E. btc-e charges 0.001 (~$2) for withdrawals. So anyone earning small payouts could just direct all the payouts to their btc-e account and then withdraw in one lump payment from btc-e for $2.
Or alternatively if you don't need the coins just let them keep building up until either there are very few transactions in the pool (and you can send them with a very low transaction fee) or until something is decided about increasing block size / segwit at which time transaction fees will probably go down.
I thought about having them sent to the Exchange, but everything I have read and people I have talked to have said not to do that so I haven't done that.
It's ok to send it to an Exchange, well I'm my case it is Volabit ( not sure if it's considered an exchange). I just let the BTC accumulate there until I get like a 0.5 or 1 BTC and then I transfer them to the hardware wallet (if I don't sell them right there and then). I think it is completely fine just don't keep too much BTC there, I personally don't let it go over 1 BTC. For me Volabit works the best, I like the page layout, notifications and they charge me barely anything for pulling my BTC out. I've never had a problem with any of the transfers from them, and it Has been always very quick for me!
