quick simple newb question...on nicehash.com (or westhash.com) can you set the payout to say only pay out when the amount hits like 2 BTC or some such?
is there a way to set this ...(for example slush's pool has a 5 BTC then auto pay out)
or is it pretty much set as a default to pay out 4x a day to an address?
(I am considering mining LTC to BTC directly rather then as I have been just mining LTC and holding)
thanks for the help
Hi,
Payments are sent according to this:
https://www.nicehash.com/index.jsp?p=faq#faqs5We have in plans to support setting custom payout settings via signed messages blockchain feature (since miners are not required to have an account on NiceHash) in some of the future updates. Nevertheless we'll never support holding large amounts of Bitcoins. Even though we have BitGo insured wallet please keep in mind that our service is not a Bitcoin bank and we prefer to pay out miners regularly and always keep only minimal amounts in our hot wallet. The current values for daily payouts are not set too low so even is you're receiving four-times per day payments it will not generate noteworthy dust in your wallet. And there aren't any other reasons why not get paid frequently, right?
Thank you for using our service!
Ok... just looking for ease of use..I"m a legal miner..would prefer not to pay transaction fee(s) for 4 outputs a day to the address and also I have to keep track of what BTC I mine
each time it hits the address so 4x a day is kinda a pain in the butt...(not complaining thou..in hindsight 25% off due to equip depr i was a little over board in that area)
Anway ....I have not had to pay any taxes via 2013 IRS guidelines yet also ...but I DO keep good books just in case........thus was looking at a payout of 1x a day or pool
the BTC say to 1 BTC before payout ...something like that.
I have knc titan units so it essentially would be LTC to BTC 4x a day with you guys I guess is how it works.
Not a big deal ..my choices will be based on how LTC continues to be in lockstep with BTC ..if it stays at current 0.006 LTC to BTC which it seems to have done the last
few months..I will hold...if she dumps or disconnects from BTC and is no longer in lockstep i will be using your services promptly
choices ..choices..thanks for the update ....but as you can see above had my reasons besides just using you guys as a bank (although i likely would up to say 3 BTC )
(by the by legal miner in USA due to bank error SEC was involved fixed in 1/2 hr meeting with bankers and SEC on the phone.....but kinda going legal in 2013..is what made it go away in that 1/2hr so far no taxes paid due to equip purchases on mining (because 2014 sucked in price vs equip) ...so I kinda squeaked thru that problem...just in case people are going wtf why did he file.....in hindsight it has worked well...would much rather be paying my fair share on 1k coin however.)