Topic: Tx fees on the rise - make sure you get paid (Read 780 times)

jonnybravo0311

legendary

Activity: 1344

Merit: 1024

Mine at Jonny's Pool

Preach on, brother!

Think about this folks... why are you giving up so much of your earnings? Look into the details and see the reality. Antpool may look like a good choice... 0% PPLNS and only 1.5% PPS. Sounds pretty good, right? Except if you read the payout details (https://www.antpool.com/support.htm) you'll notice the following:

Quote

Tx Fee Not paid out to miners for maintaining cost and the bonus for our engineers

That means an average of 3.1% of your income is being absorbed by Antpool if you choose PPLNS, and an even worse 4.6% if you choose PPS.

Pools mining empty blocks? Less income for you because there are no transactions, and hence no transaction fees included.

There are a number of great alternatives out there for you. Maximize your income and help support pools that actually care about the Bitcoin ecosystem.

DrHaribo

legendary

Activity: 2730

Merit: 1034

Needs more jiggawatts

https://twitter.com/oocBlog/status/781259179470249984

Mining income from transaction fees is becoming important.

You think you are mining PPS with a 3% fee? When the pool doesn't pay out transaction fee income, the actual fee is over 6% !
Mining PPLNS with 0% fee but no tx fee payout? You are actually paying a 3.1% fee.

A new block now has 12.5 new bitcoins and an average 0.4 BTC from transaction fees. An average mining income of 12.9 BTC per block. The 0.4 BTC is 3.1% of this.

Tx fee income will likely be even more than 3.1% in the near future. Check your pool's reward conditions today.

P.S. If you mine at a pool that frequently mines empty blocks, then there will of course also be reduced income from transaction fees, even if they are paid out.

Bitcoin Forum>Bitcoin>Mining>Pools

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