[Completed] IMPORTANT: Bitcoin payout solution

Steve Sokolowski wrote:

• At midnight on December 23, bitcoin balances will be snapshotted.

ALL balances? Also those that are below the threshold?

Or do I need to lower the threshold? When exactly should I lower and get into this payment?

Steve Sokolowski wrote: We apologize for this issue, but we don't see any other solution at this time because the bitcoin network is completely seized up. We'll be spending our own money to execute this scheme because there are inputs into our wallet from exchange withdrawals that will not confirm either. If there is dramatic customer opposition, then we will consider other options, but we think this is the best way to get you your money as quickly as possible without leaving everyone, literally, in the dust.

Thanks, and for https://live.blockcypher.com/btc/tx/2c0cd5ba3f5c4e2be275c6f838331b5ba8ef0928c253d74cb28208301a003333 what are you doing ?

Thanks, your work on this isue is greatly appreciated.

Ewil wrote:I think this is an erstwhile solution, although I'm curious about why taking the market snapshot a few hours after the database snapshot as the measurement for payouts? Unless that's when the regular payout market snapshot would have been taken, then that makes sense.

I also understand (as others may end up pointing out) that should you HODL those BTC and the price skyrockets to some insane amount, you'll be the ones ending up extremely far ahead, even if it is weeks/months down the road

I do hope the BTC network gets an upgrade soon. The volume has far exceeded the limitations of the infrastructure presently.

The reason for the delay is simply because Chris needs time to execute the steps and write the queries.

As to whether to hold the bitcoins or not, that's up to customers. We ourselves have lost faith in the Core developers and do not see them as reasonable people who see the need to get a solution out to this problem as soon as possible. They could have both adopted BIP101 and also continued work on the Lightning Network, but they did not, and their incompetence at software development and unwillingness to listen to others is directly responsible for the continuing loss of value of the bitcoin blockchain. When bitcoins are worth $3000 at the end of this cycle, and have $100 fees, we'll see if anyone takes action to wrest control from the developers or whether they watch the coin be overtaken by everything else.

My balance in Bitcoin payments below the threshold.

In order to be able to deduce in this case through litecoin what should I do?

Steve Sokolowski wrote:

Ewil wrote:I think this is an erstwhile solution, although I'm curious about why taking the market snapshot a few hours after the database snapshot as the measurement for payouts? Unless that's when the regular payout market snapshot would have been taken, then that makes sense.

I also understand (as others may end up pointing out) that should you HODL those BTC and the price skyrockets to some insane amount, you'll be the ones ending up extremely far ahead, even if it is weeks/months down the road

I do hope the BTC network gets an upgrade soon. The volume has far exceeded the limitations of the infrastructure presently.

The reason for the delay is simply because Chris needs time to execute the steps and write the queries.

As to whether to hold the bitcoins or not, that's up to customers. We ourselves have lost faith in the Core developers and do not see them as reasonable people who see the need to get a solution out to this problem as soon as possible. They could have both adopted BIP101 and also continued work on the Lightning Network, but they did not, and their incompetence at software development and unwillingness to listen to others is directly responsible for the continuing loss of value of the bitcoin blockchain. When bitcoins are worth $3000 at the end of this cycle, and have $100 fees, we'll see if anyone takes action to wrest control from the developers or whether they watch the coin be overtaken by everything else.

Ah ok, thanks for the response

Great thanks! Appreciate your professionalism and transparency. Well done.

One question: I changed my my Default Coin in settings to Litecoin yesterday (ha, saw this coming..) but in the Earnings Live Balances Window, Bitcoin still shows a day later. Any advice on this please? Ty.

perfect !

Watching this... i dont have plans of withdrawing my Bitcoins for the moment... but my profits can still be saved in BTC or should i change the currency?
So... all my balance in BTC will be changed to LTC?

Good work! Thanks for working it up