It wouldn't be fair to hold them any longer, given that the price of bitcoins is likely to decline as the fees rise, and we want customers to be able to save as much value as they can.
We want to offer bitcoins through Coinbase in the future, but given that the holiday weekend is here, it's not feasible for us to test the system adequately to offer Coinbase bitcoin payouts before the New Year. As you can see with Nicehash, we always take extra precautions against bugs when modifying anything dealing with payouts.
Here's how we'll handle the money owed in bitcoins:
- At midnight on December 23, bitcoin balances will be snapshotted. We can't disable bitcoin earnings due to the system's design. Any money you earn in bitcoins after December 23 is not guaranteed to be paid until after the New Year. We recommend that you immediately change your payout proportions.
- A few hours after that, we will take the litecoin exchange rate and convert all bitcoin balances to litecoins at that exchange rate. Payouts will be immediately sent, so you should have your litecoins within 30 minutes.
- If you want bitcoins, put an exchange deposit address as your litecoin payout address and buy them back once you are paid.
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.
This post has been updated at the end of the thread with a final reply.