Prohashing Mining Pool Forums

I just realized this change... what happened?

The price of BTC keeps rising to send on the network.
As the Bitcoin Cash gets more profitable, less workers on working the BTC system, so it costs more to send anything on it.

Hence, the minimums to send for payouts that are free go up higher.

I mean we can all appreciate that transaction fees are gone up, but this is really bit excessive

Thanks Bitmain for pushing hard Bitcoin Cash...

So what are the transaction fees to get paid out now? I've two friends spitting nails because they were a hairs breadth away from hitting the $500 mark tonight, even with the crashing value of BTC, in order to cash out without a fee - and now they have to earn another $500 to do it "free".

DblD wrote:I mean we can all appreciate that transaction fees are gone up, but this is really bit excessive

How is it excessive at all? No one is forcing you to use the free threshold. The only way it would be excessive is if you couldn't go below that threshold.

You guys do realize the 5% fee we get takes care of the transaction fees right?

Do you also realize that 5% of 1000 is $50, meaning 5% of 500 is obviously $25, which is BELOW the transaction fee?

To expect the fee to stay at 500, when the the current average transaction fee is $32, would mean the 5% fee prohashing of that 500, being $25, would be completely eaten, plus an additional $7?

Do you think prohashing is running a charity where they should be spending more money then they are earning to pay us?

How does that make sense? Do you want prohashing to just, die?

Where are your guys' logic?

Ewil wrote:So what are the transaction fees to get paid out now? I've two friends spitting nails because they were a hairs breadth away from hitting the $500 mark tonight, even with the crashing value of BTC, in order to cash out without a fee - and now they have to earn another $500 to do it "free".

No one is forcing them to do it free.

If you want to know what the average transaction fees are at a time, there is this website:

https://bitinfocharts.com/comparison/bi ... es.html#3m

If you don't need to get paid out immediately, I recommend waiting, since we plan to add support for Coinbase bitcoin payments in January. You won't lose any money, and then there will be no fee for everyday payment.

#HatingCoinBaseRightNow

Doesn't holding a large amount of Bitcoin due to high fees make PH a target like NH was? PH isn't a bank. Perhaps a way to Exchange people's locked up BTC for something that is moveable, like LTC. I know PH isn't an exchange either.

IF they are even allowed to do that. That may change the nature of the company, from providing service to providing banking.