Bitcoin Forum

Alternate cryptocurrencies => Pools (Altcoins) => Topic started by: Riptide_NVN on January 01, 2018, 12:15:52 AM



Title: pools that control payout
Post by: Riptide_NVN on January 01, 2018, 12:15:52 AM
It looks like yiimp and zpool don't allow you to control payout frequency.

This is a problem for those of us in the US who need to claim payouts as income on taxes.  We can't be sitting around logging every single payout through the whole day and what the market price was when it went through.  That is unworkable.

Is there some way to accomplish this?  MPH makes it easy.  I can queue a payout on demand or set the frequency to what I want.


Title: Re: pools that control payout
Post by: malthrax on January 01, 2018, 12:45:14 AM
It looks like yiimp and zpool don't allow you to control payout frequency.

This is a problem for those of us in the US who need to claim payouts as income on taxes.  We can't be sitting around logging every single payout through the whole day and what the market price was when it went through.  That is unworkable.

Is there some way to accomplish this?  MPH makes it easy.  I can queue a payout on demand or set the frequency to what I want.

For ZPool:

1) set your exchange coin to something more expensive so you're not getting multiple pay-outs a day

-or-

2) dump the transaction list from your external wallet once a day/week/month and use the average coin value for that time period as your "cost basis"


If you're sending straight to an exchange or some place like Coinbase, they can provide you a transaction report at w/e frequency you want.


Title: Re: pools that control payout
Post by: Riptide_NVN on January 01, 2018, 12:52:13 AM
I'm using bittrex and they show the last 12 or so transactions when you go into your wallets.  I can't find any way to get any more info out of it.

I could maybe generate a (external) wallet off the exchange, mine to it, and then when I transfer up to the exchange claim the income at that point based on either an average of x period of time or just choose whatever the peak value was.  I think this is along the lines of what you suggest in #2.

Would prefer to mine the currency straight and not do an exchange to bitcoin like zpool suggests.