Post
Topic
Board Pools (Altcoins)
Re: [ANN][POOL] Mining Pool Hub - Multipool. Multialgo, Auto Exchange to any coin.
by
gOCe
on 07/10/2017, 07:40:25 UTC
@mjmeans With all the respect you deserve.

I think in the beginning all of us think about fees, but hey everything in life have a cost, just take all in consideration and keep on mining.
We pay (in mining world) for the pool, for transfers, for developer of mining software, for convert to fiat, electricity, ventilation, extra AC circuits, and the list goes longer, hey we pay even for receive transfers (Localbitcoins case).
In the end is just something we must pay, and never was part of our income, because if we dont pay the cost, we dont have the full thing, so without costs we have nothing  Tongue.

In the time i owned just some gpus (and before that, just one fx 6300 cpu) i used to think like that, (i need to save every penny), but after a while i realize that even my time cost (oh boy, i invest so many time asking me those questions). An even now i can tell you, exprimenting so many variable paths to go from my rig to a dollar in my account, cost you even more, because crypto is a very volatile world.

I will give you just example about what was applied in the past, and i think maybe is worth for you give it a try. If you want low fees, autoexchange to a little coin, in this example "EXP" (You pay only 0.0005 EXP, like 0.0008731 USD ), then you can cashout to Polo, sale in Polo for BTC and pay only 10,000 sat to get in gdax (Like 0.4329 USD).

But then you get the cons (Many time worst than the ones you can find using autoexchange), like exp 90 confirmations or 132 minutes, the coin change the price, you convert in a crash, etc, etc. But most of all "How many of your time you invest in doing that"

Just something to think about.

My best Wishes to all!

Then it's a none issue. Send it to the exchange yourself or let the pool do it. You're most likely using the same exchanges.

I'm sure most people convert everything to bitcoin as it's the easiest to convert to cash. You can literally send it to a Bitcoin card, withdraw from one cash machine, deposit into your current account and is all available within an hour then go live the dream and stop worrying.

Well, I disagree. When I mine ETH on nanopool, I see the pool fee and the exchange fee that transfers to my wallet. Everything is documented and traceable. And I exchange directly to cash on GDAX not to BTC first. And that exchange has no exchange fee on a limit sell. I'm not going to pay even a fraction of a percent if I don't have to. The cash out fees on MPH are 0.0003 BTC for BTC (~$1.30) or 0.001 ETH for ETH (~$0.30). So each daily cash out of BTC costs more as long as the pool is not causing me to lose more than 0.003 ETH in any auto-exchange to ETH.