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Payment happened way before defined payment threshold
Posted: Mon Nov 27, 2017 9:32 am
by threeOeight
My payment threshold is set to 0.1 DASH at the moment but the payment was executed at the original default setting of 0.00322791 DASH.
How could that have happened?
Re: Payment happened way before defined payment threshold
Posted: Mon Nov 27, 2017 12:52 pm
by AppleMiner
Hope this helps to explain it.
From the HELP pages on the main site:
Payout thresholds
By default, mature balances will be paid out only for coins whose mature balances exceed the payout thresholds. The default payout method, using the deafult payout thresholds, is free. You can choose to customize the payout threshold by checking the "custom payout threshold" boxes on the settings page.
If you choose to customize the payout thresholds, and your custom payout threshold is lower than the default payout threshold, you will be charged whatever transaction fees the coin networks charge to pay out your mature balances. Therefore, if you earn more than the deafult payout threshold each day, or if you are willing to wait multiple days until your balance reaches the threshold, it is recommended that you save money by not selecting this option. Please note that even if "custom payout threshold" is selected, you will not receive a payout if the payout amount would be below the minimum transaction amount allowed by the coin network. If you choose a custom payout threshold higher than the default payout threshold, payouts will be forced to occur once the mature balance exceeds the equivalent of $5.00, regardless of the custom payout threshold (excluding Bitcoin). The thresholds for Bitcoin are much higher than those of other coins because Bitcoin's network is blocksize limited and overloaded. The current Bitcoin thresholds are regularly posted to the Prohashing forums as they continue to rise.
You can check your balances and current payout thresholds by logging in and going to the "Earnings" tab. Under "Current balances" the current minimum payout threshold will be listed for each coin. If you have a zero custom payout threshold, then the column will show "-" indicating there there is no payout threshold.
Sometimes, the transaction fees for a payout with a low custom payout threshold are higher than the payout amount, causing money to be wasted. In that case, no payout will occur until the amount to be sent exceeds the amount that would be lost in fees.
When looking at mature balances throughout the day, keep in mind that the exchange rate of any coin could drop between before the time the payout list is calculated, causing coins whose mature balances currently exceeds the default payout threshold to no longer meet the payout threshold at the payout time. In addition, when performing payouts, the payout amount is only subtracted once it has been committed to the coin network, so for a short period of time after 00:00 ET you may see a larger than expected mature balance that includes today's payout.
If you are using U.S dollar payouts, then BTC or Ethereum will be transferred into your Coinbase account at the time the payout list is executed. Two hours later, the BTC or Ethereum will be sold for USD and the USD transferred to your bank account. This two hour delay is necessary for the Bitcoin transfer to confirm. If the sale of BTC or Ethereum for USD fails at Coinbase, then the sale will be retried 24 hours later. If the sale fails three times, then BTC will not be converted to USD and the BTC or Ethereum will remain in your Coinbase account.
Because the bitcoin network is limited to 1MB blocks and is overloaded, the default payout threshold for bitcoins is many times higher than that of other coins. Ignoring the Bitcoin payout threshold can result in very expensive transaction fees. Choosing a coin other than bitcoin for payouts will allow you to retain more of your profit and be paid more quickly.
Re: Payment happened way before defined payment threshold
Posted: Tue Nov 28, 2017 11:56 am
by threeOeight
That certainly clarified things. Thanks AppleMiner.
Re: Payment happened way before defined payment threshold
Posted: Tue Nov 28, 2017 12:51 pm
by AppleMiner
The owners feelings are, that this is NOT a bank. If they do NOT stockpile large sums of wealth on the pool for the miners and hold onto it for them, they are less of a target. If you were going to rob a bank and one that had just enough money to get through its daily business, and one with enough stockpile to run for a week....which bank would you go after first?
If each person only has their last day's profits on file, even if the site got hacked, we would only be out 1 day's worth of profit
(bitcoin being the exception it always is)