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Title: Starting mining... Any pools with an extremely low cashout rate? Post by: warfare238 on January 01, 2018, 01:49:27 AM I want to mine bitcoins. Its not much, I only mine $1 USD a day, but I want to continue. (All power used is free). Is there a pool I can mine that lets you cash out at a very low amount? Or is it possible to mine solo? If so, how?
Title: Re: Starting mining... Any pools with an extremely low cashout rate? Post by: odolvlobo on January 01, 2018, 03:28:20 AM Keep in mind that if you cash out at very low amounts, the transaction fee could be very high when you spend your BTC.
Right now, the minimum fee to get into the next block is 490 s/b. An input is about 180 bytes, so each input will cost about 0.0009 BTC to send. That means that if you set the threshold at less than 0.0009 BTC, you will not be able to send the money anywhere because the fee will be 0.0009 BTC (about $12) for each time you cashed out. It's very sad that many people acquired small amounts just to get started and now they own worthless "dust". Dust is the amount that can't be sent because the fee is more than the amount. A few years ago, 0.00000546 BTC was considered dust, and it was worth a few hundredths of a penny. Now the dust amount is $12. Title: Re: Starting mining... Any pools with an extremely low cashout rate? Post by: warfare238 on January 01, 2018, 02:58:45 PM Keep in mind that if you cash out at very low amounts, the transaction fee could be very high when you spend your BTC. Right now, the minimum fee to get into the next block is 490 s/b. An input is about 180 bytes, so each input will cost about 0.0009 BTC to send. That means that if you set the threshold at less than 0.0009 BTC, you will not be able to send the money anywhere because the fee will be 0.0009 BTC (about $12) for each time you cashed out. It's very sad that many people acquired small amounts just to get started and now they own worthless "dust". Dust is the amount that can't be sent because the fee is more than the amount. A few years ago, 0.00000546 BTC was considered dust, and it was worth a few hundredths of a penny. Now the dust amount is $12. Thanks, I remembered mining years ago and cashing out with tiny fees and I forgot how much higher bitcoin has gotton (and the fees must've risen with it). |