Post
Topic
Board Pools (Altcoins)
Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com
by
max246
on 09/03/2014, 20:36:30 UTC
I have registered just to say... change payouts back to how it was previously.

I don't really see a reason why anyone might need that, except maybe perverse waiting for sudden beeps from your wallet on incoming transactions, because you never knew what time(s) of day your payouts would be sent.

If your profits are > 0.01/day then you just have one payout per day and 24h interval between payouts doesn't matter much - you still have your profits on a regular basis.

If your profits are < 0.01/day then it really didn't change much for you. Before, you might get your 0.01 BTC payout every ~36 hours. Now you will get ~0.013 BTC payout every 48 hours.

A very positive side-effect of this change is that payout transactions should be included in the blockchain (get confirmed) much quicker than before. Hourly transactions were usually spending Bitcoins which were last moved an hour before (were the change of previous payout) what combined with huge transaction size and minimal transaction fees gave them low priority. Some payouts were waiting even two hours to be confirmed. Now payouts are spending Bitcoins which were moved several hours ago, so their priority is several times higher. Bitcoin transaction priority depends on fee per 1 kB of transaction and age of inputs being used to build transaction.

I'm looking forward Bitcoin v0.9 which is supposed to lower minimal transaction fees from 0.0001 BTC to 0.00001 BTC per 1 kB. If the effective fee required to be included in blockchain by miners really will decrease into this level, we will switch to daily payouts for a minimum 0.001 BTC (not 0.01 BTC as it's today).

I agree with your decision! One payment per day is enough for everyone, why would you have multiply payments?  Are people so greedy to can't wait for 24 hours before getting your coins? We are not in MtGox... coins are coming on your wallet at the end of the day...

Stop complaining, Terk is doing a great work and what he needs to read is "Thanks man! Well done!"