Gas fees - Surge Prices

[adaseb]

The Bitcoins dev have never even suggested any ideas such as this. The last idea that they had was Segwit and look how much controversery that had to go thru before it was finally approved and launched. But they never suggested getting rid of the coinbase miner reward because the BTC transaction fees were too high and sufficient for miners.

I think the reason why ETH dev is back and forth on this is because they should of had a fixed supply at the beginning when they launched and a halving schedule similar to BTC. That way they wouldn't manually have to do a fork to halve the mining reward from 5 ETH to 3TH to 2ETH.  ETH has been out for 6 years and I still don't know what the max supply will be.

[Randey Lahey]

Ethermine min payout to wallet is 0.05 every 24h, doesnt cost you anything.
About the custom fee i was talking about my trezor hardware wallet, there are also 3 options of fast normal slow with adequate usd prices on each, but there is also a custom fee option there, the other 3 transfer time ranges from minutes to few hours max, but the custom one i set lowest possible which was under 1 usd which put me in the back of the list, so it took over 8 hours for it to transfer to my exchange app wallet.
I believe you could set ethermine pool payout wallet to binance directly, which would cost you, as mentioned above by adaseb, next to nothing, then in binance you can directly sell eth for your chosen currency, that would cost you based on how much you eth sell, but shouldnt be much, last step is cashing out to your bank, straight to card i think is 1% sends in minutes, but i personally choose sepa transfer which is sent in hours but costs 0.80 euro for me, which is basically also nothing, they sent the money fast its all about how banks in your country work, mine accepts in minutes any transfer.
So there you go, try using binance given deposit wallet address for eth as your payout wallet in ethermine pool website and tell us your experience.
Also i will mention i have no clue about security protocols in this yet, thats why im using a hardware wallet, puts me at ease about my earnings, so i rather pay a bit more, but stay safe that, no matter how small of a chance it is, i wont get hacked.

I realize the payout to the wallet costs nothing, it's the transfer to the exchange that does.  Won't they just get that fee somewhere else if I mine directly to Binance?  I would like to check it out, but it doesn't seem to have any FAQ that you can get to without me signing up first.  I DO NOT want to have to link my bank account, I just want to do something simple and fast like e-transfer where I had my cash in less than an hour.  Does it allow that the same way Shakepay does?

[Randey Lahey]

Yes, pool pays fees. In your situation it might be useful to choose pool with good hashrate and low minimum payment. This link below can help you to choose:
https://miningpoolstats.stream/ethereum

From that link, it's either Sparkpool or where I already am, Ethermine.  HiveON pool has 0% fees, but the hashrate is only 17.58 TH/s compared to 77.32 on Ethermine.  Is that a big factor in profits even accounting for fees?  I guess it doesn't hurt to switch and try it out after my next payout (at 0.1 now apparently).

[Randey Lahey]

Ethermine doesn't charge you any fees when they pay you. Usually you are paid when  you meet the min withdraw, which I think is 0.01 ETH and this payment is sent max once a week. They include the transaction in their pending transaction when someone on the pool finds a block and its sent with a 1 Gwei fee which is almost nothing.

So it was free sending the 0.01 ETH into your own wallet but when you send it to your Shakepay exchange you need to chose the lowest possible fee to get it confirmed within a few hours. Use this as a guide.

https://etherscan.io/gastracker

Currently for a simple ETH transaction its $4. Which in my opinion is fairly high. Hence mine for a few months and then just do 1 transaction and then your fee will be small relative to your transacted amount. Its not worth sending any ETH or BTC payments which are 2 figures.

I'm not really sure what I'm looking at on that site, but the lowest fee I see (173 Gwei) is $6.52, not $4.  So it isn't a % of the transaction, it's just a flat fee?  It will make sense to do less transactions if that's the case.

[mak013]

Yes, pool pays fees. In your situation it might be useful to choose pool with good hashrate and low minimum payment. This link below can help you to choose:
https://miningpoolstats.stream/ethereum

From that link, it's either Sparkpool or where I already am, Ethermine.  HiveON pool has 0% fees, but the hashrate is only 17.58 TH/s compared to 77.32 on Ethermine.  Is that a big factor in profits even accounting for fees?  I guess it doesn't hurt to switch and try it out after my next payout (at 0.1 now apparently).

When the block reward is same - it does not matter. You need some pool that catches at least 3-5 blocks at the day. Your % of pool will be bigger and your reward will be higher. With the big pools - you will get little reward for even catched block, but you will get lots of rewards.
The main problem i found - the time when we get a wave with blocks with huge rewards. In this wave big pools get lots of blocks and little pool can get zero. And no one of these reward will belong to you.

[Randey Lahey]

Yes, pool pays fees. In your situation it might be useful to choose pool with good hashrate and low minimum payment. This link below can help you to choose:
https://miningpoolstats.stream/ethereum

From that link, it's either Sparkpool or where I already am, Ethermine.  HiveON pool has 0% fees, but the hashrate is only 17.58 TH/s compared to 77.32 on Ethermine.  Is that a big factor in profits even accounting for fees?  I guess it doesn't hurt to switch and try it out after my next payout (at 0.1 now apparently).

When the block reward is same - it does not matter. You need some pool that catches at least 3-5 blocks at the day. Your % of pool will be bigger and your reward will be higher. With the big pools - you will get little reward for even catched block, but you will get lots of rewards.
The main problem i found - the time when we get a wave with blocks with huge rewards. In this wave big pools get lots of blocks and little pool can get zero. And no one of these reward will belong to you.

So basically stick with Ethermine then?