Connect Your US bank account in your Prohashing Payout Settings

Interested in skipping the exchanges and getting USD payouts directly to your US Bank Account? Go to your payout settings (https://prohashing.com/customer/payouts), look at the bottom right for "ACH Options", and follow the instructions under "Enable Payouts"!

Sorry, somehow I clicked twice and double posted...trying to figure out how to delete a post.

Nice feature - though you might want to redo the title of this post though to something like "Connect your US Based bank account...". US Bank is a specific bank - and when I first saw the title before reading it my mind jumped to the idea that I might have to open a bank account with a specific bank to use the feature.

It is great to see Prohashing adding more features like this.

robinsoz wrote: Nice feature - though you might want to redo the title of this post though to something like "Connect your US Based bank account...". US Bank is a specific bank - and when I first saw the title before reading it my mind jumped to the idea that I might have to open a bank account with a specific bank to use the feature.

It is great to see Prohashing adding more features like this.

Oh! You're right! Thank you for pointing that out!

Is ACH all or none? - or can you allocate percentages to ACH like any other coin?

awb1 wrote: Is ACH all or none? - or can you allocate percentages to ACH like any other coin?

Dollars are just another coin, so you can set percentages.

We'll also be debuting a feature later this week to auto-deduct electricity costs, which are specified with the "p=" and "w=" password arguments, and put that money in the bank account and then keep the rest according to the payout proportions.

Steve Sokolowski wrote:

awb1 wrote: Is ACH all or none? - or can you allocate percentages to ACH like any other coin?

Dollars are just another coin, so you can set percentages.

We'll also be debuting a feature later this week to auto-deduct electricity costs, which are specified with the "p=" and "w=" password arguments, and put that money in the bank account and then keep the rest according to the payout proportions.

This is a good feature; don't forget that users (like me) might also have their internet providers auto-deduct monthly payments as well. What I'm trying to say is that the "p=" and "w=" are good ideas, and at the same time, it would be cool if we could enter more monthly billing information so that all the electricity, ISP, insurance, rent, etc. is accounted for against the money earned from mining. This may seem complicated. It might just be easiser to do something like "30% of daily profit goes to ACH and 70% gets stashed into a crypto wallet." And then that 70% is what's available as payable coins. I appreciate the ACH effort!

ToeKnee wrote:

Steve Sokolowski wrote:

awb1 wrote: Is ACH all or none? - or can you allocate percentages to ACH like any other coin?

Dollars are just another coin, so you can set percentages.

We'll also be debuting a feature later this week to auto-deduct electricity costs, which are specified with the "p=" and "w=" password arguments, and put that money in the bank account and then keep the rest according to the payout proportions.

This is a good feature; don't forget that users (like me) might also have their internet providers auto-deduct monthly payments as well. What I'm trying to say is that the "p=" and "w=" are good ideas, and at the same time, it would be cool if we could enter more monthly billing information so that all the electricity, ISP, insurance, rent, etc. is accounted for against the money earned from mining. This may seem complicated. It might just be easiser to do something like "30% of daily profit goes to ACH and 70% gets stashed into a crypto wallet." And then that 70% is what's available as payable coins. I appreciate the ACH effort!

That's a great idea. I'll add a new ticket for Michael to add a textbox to this feature. When enabled, the value entered in the textbox would be earned as dollars each day until the limit is hit, then the power consumption would be earned, and then the remainder of the day would be profit in the payout proportions.

Is that what you'd like?

As an update for this feature: the system now successfully allows linking of bank accounts, and the addition of the "dollar" payout option.

However, payouts have not yet been executed for the first time because we need money to arrive at the payment processor. It requires about 7-10 days from the time that a share is submitted until we have the money to pay you in the right account - the legacy banking system is that slow.

Right now, we're planning on a buffer of $5,000 in the payment processor, so that we're always $5,000 ahead, with additional money being transferred every day to fill back up to $5,000. The buffer will eventually increase to one day's payouts, whatever that settles on. However, the first $5,000 isn't expected to clear until tomorrow or Monday, because we weren't able to start the process until we released the feature. You can still earn dollars and lock in the value, but the first payouts won't be issued to the actual accounts until tomorrow or Monday.

Steve Sokolowski wrote:

ToeKnee wrote:

Steve Sokolowski wrote:

Dollars are just another coin, so you can set percentages.

We'll also be debuting a feature later this week to auto-deduct electricity costs, which are specified with the "p=" and "w=" password arguments, and put that money in the bank account and then keep the rest according to the payout proportions.

This is a good feature; don't forget that users (like me) might also have their internet providers auto-deduct monthly payments as well. What I'm trying to say is that the "p=" and "w=" are good ideas, and at the same time, it would be cool if we could enter more monthly billing information so that all the electricity, ISP, insurance, rent, etc. is accounted for against the money earned from mining. This may seem complicated. It might just be easiser to do something like "30% of daily profit goes to ACH and 70% gets stashed into a crypto wallet." And then that 70% is what's available as payable coins. I appreciate the ACH effort!

That's a great idea. I'll add a new ticket for Michael to add a textbox to this feature. When enabled, the value entered in the textbox would be earned as dollars each day until the limit is hit, then the power consumption would be earned, and then the remainder of the day would be profit in the payout proportions.

Is that what you'd like?

Honestly, I don't know how to go out implementing this. At my location, I have 2 roof top air conditioner units. I also have a couple of heat exhaust setups that run all the time. Even I don't know what the full electricity bill will be until it arrives. Sure, we can estimate what kind of power the miners will pull. But the power consumption of the miners is just a portion of the total draw. Factoring in internet, insurance, etc., and it's hard to pin down a fixed monthly number. I wouldn't put too much effort into this; as a business, I'll just set aside 30% of daily profits for costs associated with running an operation. Sometimes, that 30% will be enough (like winter time) and sometimes, I'll not be enough (summer). Plus, using ACH will help because all my contractors want a check or cash payment for service work. Doing the miner power draw calculations is helpful when you're running an operation in the garage or a closet at home. But when you're running a business with rent, insurance, air conditioners, exhaust fans, ISP, contractor labor, etc., the numbers swing. Heck, even 30% might not be enough when factoring in legal and accountants and any taxes due on an annual basis. Running a business is fun, they said.