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Author Topic: Auto Payout - What should I set this too?  (Read 2248 times)
RyanRed
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December 12, 2012, 09:51:21 AM
 #1

As the topic says. I've heard that if you set it too low you would be faced with high transaction fees. Could someone explain this a little better to me? I'm still pretty how small transaction create large fees. So, whats a good number to set my payouts to be? Is .3 too low? .5 too low? Keep it at 1 btc?

Thanks for anyone that takes the time to response to help me better understand Smiley

-Ryan
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December 12, 2012, 04:28:55 PM
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I've always recommended automatic payouts be set to whichever of the following is smaller:

1) 1.0 BTC
2) 1 week's worth of mining proceeds


This will help keep your wallet "clean" of small transactions, which make it easier to spend your coins without having to pay any fees.  This also means you're not trusting the pool operator as a bank, and at most they will only be holding ~1 BTC of your money at any given time.

Most automatic payout pools process multiple times per day, so these settings work for the majority of miners.  However, if you're producing 24+ BTC/day, you might want to set it slightly higher, since I think the majority of pools only run automatic payouts hourly (or less frequently in some cases).

RIP BTC Guild, April 2011 - June 2015
RyanRed
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December 12, 2012, 10:26:17 PM
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Alright Smiley I apperciate the info. Yeah my proceeds are less than 1 BTC a week sadly, so Ill just cash myself out manually each week. Again, thank you for the info Smiley
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