Payout thresholds increased

News updates about the Prohashing pool
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Steve Sokolowski
Posts: 4389
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Payout thresholds increased

Post by Steve Sokolowski » Sat Feb 13, 2021 2:02 pm

Over the past few days, Steven and Chris have been performing one of the regular adjustments to payout thresholds, based upon the transaction fees of the coin networks.

Unfortunately, transaction fees are quickly making many coins unusable. For bitcoin, the average fee for a one-input two-output transaction over the past few days rose above $9, and for Ethereum, the fee was about $10. For ERC-20 tokens, the fees varied between $15 and $50.

Prohashing aims to spend less than 12.5% of its profits on transaction fees, and since its fees for most algorithms are 3.99%, that means that the total amount of all revenue spent on fees needs to be less than 0.5%. Therefore, the free payout thresholds are targeted to be 200 times the average network transaction fee. For Ethereum, that means you should expect the payout threshold to rise to $2,000 over the coming weeks. Some of the most inefficient ERC-20 token contracts are likely to see thresholds rise to as high as $10,000.

Unfortunately, there is nothing that we can do about these fees. The Bitcoin Core and Ethereum developers spent many years of their time working on issues other than capacity, and now that more users of the networks have arrived, the networks are overloaded. Those who would like to voice their disapproval on fees should direct their suggestions to the Core developers, and suggest to them that they work towards raising the 1MB transaction limit. As you can see with the math, if we continued to offer a free threshold of $200 for bitcoins, then the $8 fees would cause us to earn zero profit.

Any customer can choose to accept payouts at any time by lowering his or her payout threshold below the free threshold. Another choice is to accept payouts in another coin, like litecoin, where fees are not an issue.
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Ladylikelace
Posts: 4
Joined: Sun Nov 05, 2017 7:24 pm

Re: Payout thresholds increased

Post by Ladylikelace » Sun Feb 14, 2021 2:29 am

Hi Steve,

I was wondering
What is would be my profit if I connect to your pool 900 Mh/s ( 5 x E3 Antminer)?
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Steve Sokolowski
Posts: 4389
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: Payout thresholds increased

Post by Steve Sokolowski » Sun Feb 14, 2021 7:06 am

Ladylikelace wrote:
Sun Feb 14, 2021 2:29 am
Hi Steve,

I was wondering
What is would be my profit if I connect to your pool 900 Mh/s ( 5 x E3 Antminer)?
The "worker configurator" at https://prohashing.com/tools/miner-configurator can make those calculations.
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Ladylikelace
Posts: 4
Joined: Sun Nov 05, 2017 7:24 pm

Re: Payout thresholds increased

Post by Ladylikelace » Thu Mar 18, 2021 4:16 am

Hi Steve, what are the best performance with this equipment
1 X3
5 E3
2 B3
4 L3
3 S9
6 T9
1 D3
1 A3
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Ladylikelace
Posts: 4
Joined: Sun Nov 05, 2017 7:24 pm

Re: Payout thresholds increased

Post by Ladylikelace » Thu Mar 18, 2021 4:18 am

Do I need to update any? Last time I used in 2018 y
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