No ETC payout for last couple of days ..

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ToeKnee
Posts: 27
Joined: Fri Apr 16, 2021 10:07 am

No ETC payout for last couple of days ..

Post by ToeKnee » Fri Sep 24, 2021 8:26 pm

Perhaps there is something clogging up the pipes, so to speak. I've been stacking ETC over the last couple of days and there hasn't been a payout to my Coinbase. Check on ETC payouts in general?
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BMChris
Posts: 55
Joined: Fri May 14, 2021 8:10 pm

Re: No ETC payout for last couple of days ..

Post by BMChris » Fri Sep 24, 2021 9:09 pm

It took mine a day or three to come through. I know if they don't have many people mining a coin they sometimes need to wait for them to build up before they send them to avoid large transaction charges, it might be that.
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-MaVerick-
Posts: 85
Joined: Wed May 12, 2021 3:12 pm
Location: Germany

Re: No ETC payout for last couple of days ..

Post by -MaVerick- » Sat Sep 25, 2021 7:02 am

ETC had some problems lately with an ungodly amount of confirmations needed for a transaction to come through, I think I saw something with 40.000 confirmations, with would roughly take a week or so.
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Steve Sokolowski
Posts: 4510
Joined: Wed Aug 27, 2014 3:27 pm
Location: State College, PA

Re: No ETC payout for last couple of days ..

Post by Steve Sokolowski » Sat Sep 25, 2021 8:58 am

ToeKnee wrote: Fri Sep 24, 2021 8:26 pm Perhaps there is something clogging up the pipes, so to speak. I've been stacking ETC over the last couple of days and there hasn't been a payout to my Coinbase. Check on ETC payouts in general?
The problem is that we ran out of money.

We don't keep a lot of money on exchanges, for the obvious reason. Normally, it would be easy to send more money to Coinbase, but in this case, Coinbase is requiring 3 days of confirmations for ETC.

The confirmations are an obsolete reaction to a 51% attack that was conducted using NiceHash against the ETC network 15 months ago. Since then, the price of ETC rose by a factor of 5, and the network's hashrate also significantly increased, making the large number of confirmations unnecessary. Nevertheless, for an unknown reason, Coinbase still requires them.
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