Bitcoin payout threshold rising to $100

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Steve Sokolowski
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Bitcoin payout threshold rising to $100

Postby Steve Sokolowski » Wed May 17, 2017 7:43 pm

Unfortunately, beginning tomorrow, the bitcoin payout threshold will be rising to $100. The fees for yesterday's payouts cost over $22, and that is on top of the withdrawal fees for exchanges.

We also wanted to provide a warning that we expect to raise the bitcoin payout threshold to $250 within a few weeks, if current rates of increase continue. You can receive payouts in bitcoins immediately by ignoring the payout threshold; fees per person per day are now exceeding $2 for that option. The bitcoin network is unusable, and we strongly advise all customers to receive payouts in another coin.

The free payout threshold will remain at $1 for all other coins.

One issue that Chris pointed out is that when a coin is in error, customers who requested that coin are paid in bitcoins until the coin is available for payouts again. With the bitcoin network in its current state, small amounts of bitcoins are worthless, so we will be making litecoins the default payout coin this weekend so that customers don't earn useless amounts of bitcoins.

Feel free to contact Chris with any questions or concerns.
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GregoryGHarding
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Re: Bitcoin payout threshold rising to $100

Postby GregoryGHarding » Wed May 17, 2017 7:50 pm

once these changes occur to make litecoin the default payout will we be able to transfer or forfeit useless amounts of BTC?
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Steve Sokolowski
Posts: 1819
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA
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Re: Bitcoin payout threshold rising to $100

Postby Steve Sokolowski » Wed May 17, 2017 8:22 pm

GregoryGHarding wrote:once these changes occur to make litecoin the default payout will we be able to transfer or forfeit useless amounts of BTC?


That's one of the goals.
dfair98
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Re: Bitcoin payout threshold rising to $100

Postby dfair98 » Thu May 18, 2017 12:03 am

Me: Hi, Mr Wallet, I'd like to transfer 0.15 bitcoin
Wallet: Hi Mr D! Sure I can transfer 0.15 bitcoin for you no problem! the fee for that transfer is: 0.019123151152
Me: :twisted:

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