Prohashing Mining Pool Forums

Rather than implement new coins or improve profitability, we have dedicated this entire weekend towards fixing bugs and customer issues.

If there is something that annoys you with the mining server, or the website, or anything else, please report it in this thread today. We want to get as many of these small issues listed today as possible so that we can release all the fixes on Sunday night or Monday morning.

How come the poolfee is so high?
The highest I have ever seen...

3/5 payout still has not occurred.

on the settings page can you make it so i can hide either the wallets or coin adjustments ,also so that it is in alphabetical order even when you add new coins

please/thank you

cryptichermit wrote:3/5 payout still has not occurred.

I'm sorry about that. Cryptsy for some reason didn't process our Bitcoin withdrawal last night. The payments have been sent.

Rillo wrote:How come the poolfee is so high?
The highest I have ever seen...

We are a pay per share pool. The fee allows us to maintain a reserve to cover days of bad luck. The pool fee is also all-inclusive. In other exchanges, exchange fees, trade fees, and withdrawal fees get deduced from your account. In Prohashing, these are all included in the flat pool fee.

By the way, all the profitability numbers you see on the site include all fees, unlike other pools whose homepages report their expected payouts and then charge you pool fees on top of that.

I'll add to Chris's comments about the fee. There is a more complex reason that comes down to economics.

There are two ways that we can make the pool more attractive to new customers. We could reduce the fee by, say, 2%, which would increase customer earnings by 2%. Or, we can improve our algorithms, add new coins, and add new exchanges to increase earnings. But if we didn't have a full-time employee, then we could not do all those things.

Adding litecoin market trading, which will happen this week, will increase profitability by as much as 5% with that one feature alone. That means that customers get 4.75% more money, and we earn 5% more money from our cut. In the end, both of us make more money by charging a higher fee and us spending the fee money on development. Later, we will add more coins, which will increase profitability by another 2%, and so on. This compounding ends up with a far greater amount of profit for everyone than a one-time fee decrease would.

Competing on fees is not the best way to make the most money for everyone. There are still many improvements that can be made to our algorithms to earn far more than the few percentage points we could pass along by lowering fees. While bitcoin-only pools can compete only on fees, multipools can earn money on better algorithms. Make sure you compare the payouts from all the pools, because you probably get more money here (and almost certainly will in a month or two) even with higher fees.