How can we improve Bitcoin/Litecoin/Dogecoin Miner?

minimum payout ought to be user selectable , 5000 sats is too low . or make it the miners decision when to claim the reward please.

Payout would more sensibly set at a higher value. dust payments are no good for the high btc mining fees. maybe pay us in digibyte then it would be ok at 5000 in one week. please add deffer payments until higher satoshis targets are met. T Y.

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jim shared this idea  ·   ·  Flag idea as inappropriate…  ·  Admin →

11 comments

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  • Steve commented  ·   ·  Flag as inappropriate

    Still not addressed, six months after initial comments. Have no plans to use app until higher payout threshold addressed. Will check back in another 6 months i guess. Successful Businesses adapt faster than this.

  • KC commented  ·   ·  Flag as inappropriate

    does anyone help me with my computer freezing up and it stops mining? At this rate, it will take me a whole month to reach 5000

  • AdminAlex (CEO / Founder, GroupFabric) commented  ·   ·  Flag as inappropriate

    Owen - one thing to try is running in Power Saving mode and to test how much energy is being used over the baseline power of your machine. A cheap device for doing this in the states is the Kill-A-Watt ($15-$20), but your local hardware store should have something like this in the UK as well.

  • Owen Dack commented  ·   ·  Flag as inappropriate

    Have you actually worked out how much you can earn in a month and how much it costs you in electricity?
    I just started with this app and have been testing mining rates and profitability. I worked out that I could earn up to £1.50 (Sterling) a month at the Hash rate I've been getting. To keep my tower alone running for the month costs £0.04 p/h in electricity fees, this works out to over £1.00 per day leaving me a shortfall of £28.50 pcm in costs. The app is little more than a game, it is for amusement, not profit so please do not leave your computers running for just this app

  • Steve commented  ·   ·  Flag as inappropriate

    I keep reading excuses here for not raising the payout. Lots of blaming wallets... Not mining anymore here until fixed. Respectfully- Steve

  • AdminAlex (CEO / Founder, GroupFabric) commented  ·   ·  Flag as inappropriate

    I should also say that we do want to build this feature - right now we're working on improving user mining profitability which should make this less of an issue (but still something on our TODO list).

  • AdminAlex (CEO / Founder, GroupFabric) commented  ·   ·  Flag as inappropriate

    Network fees have been around 1 Satoshi/byte for around 6 months. Make sure your wallet isn't overcharging on fees. Also - many wallets let you set the fee you include when sending. A typical transaction right now should cost under 400 Satoshis @ 1 Satoshi/byte.

  • Steve commented  ·   ·  Flag as inappropriate

    It seems useless mining with a 5000 payout because the network fees exceed the value of 5000 satoshi. Seems like the more I mine, the less my bitcoin is worth. This needs to be fixed immediately not at some point in the future.

  • AdminAlex (CEO / Founder, GroupFabric) commented  ·   ·  Flag as inappropriate

    We agree! Enabling users to set a higher minimum payout is a feature we want to do. Right now we're working on revamping all of the mining engines to improve user yields because if users earn more, then the minimum payout is less of an issue.

    The reason the pool automatically issues payouts instead of user requests is because the mining pool can issue multiple payouts in one large transaction (AKA batching in Bitcoin parlance), rather than lots of small ones. This reduces Bitcoin network load and keeps network fees lower for everyone.

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