Scrypt miner payout while LTC is dropping | Discussion

[cryptobear]

I am not sure if this make sense but was hoping someone has a better grasp on this than me and could explain.

If the price of Litecoin (and other scrypt coins) is down, that means the amount my scrypt miners mined Litecoins (or other scrypt coins) are worth less too, so..

If I choose a payout of something that is higher in price, at the moment, such as Ethereum, wouldn't I be losing value in this transaction?
Essentially, I would be trading the same amount of scrypt mined coins as before but for less ETH or what have you.

In short, I am starting to think it makes more sense to keep LTC as a payout, especially when it is low, as to retain the long-term value of my mining efforts vs essentially trading it (choosing something else as a payout) that currently has a higher price associated with it.

But then again, ETH is retaining its price tag better on its own so maybe that's the better option even though I'd be getting less for more, so to speak.

Any thoughts?

[VicBradley]

I switched to USD for now, until prices start back up. But am wondering: What if everyone did that, would it screw up the Pool?

[cryptobear]

I don't believe the pool could be adversely affected by which payout miners choose but I could be wrong. If it were a problem it would be to a larger issue like everyone chose BTC while transactions aren't getting confirmed or something like that. At that point the pool wouldn't be able to get their transactions confirmed in order to pay it out but they could find a workaround, I'm sure. I think that USD payout first goes into BTC and then is exchanged so maybe it could cause a problem. I really am not sure though and am purely speculating based of my small amount of recent experience and knowledge.

[AppleMiner]

The brothers were looking into sending coinbase via LTC to avoid higher fees and get faster USD payouts via coinbase.