Gridcoin Question

davidwilliams (48)in #gridcoin • 8 years ago

Greetings Steemians!

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Hello all! I am experimenting with Steemit as a help platform. I'm new to both steemit and gridcoin, so I don't know if this is a good way to ask my question or not. Here goes nothing!

Question is, in grcpool there is an option for "Minimum Payout", and I'm curious what effect altering that might have. Is it better to be low or high? Mine is set at 1 right now.

Image for attention. :) While you are here, check out some of my photography:

https://steemit.com/@davidwilliams

Thanks in advance!

#grcpool #crytpocurrency #crypto #photography

8 years ago in #gridcoin by davidwilliams (48)

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thorondor (50) 8 years ago (edited)

Welcome! :)
The minimum payout is the minimum of GRC that the pool needs to owe you in order to make a payout. In other words: If you choose a higher value (let's say 100), your GRC will stay on grcpool until you are above that value (100). Then there will be the payout.
The benefit of a higher minimum payout is, that you do not lose that much on transaction fees (they are fixed at 0.005 GRC per payout, which is VERY low though).
I set my minimum payout to 10.

Hope that answers your question :)

$0.03

3 votes

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theissen (52) 8 years ago

It just says, that the pool won't pay you if the amount is less than 1 (for your case). I don't know your mag, but you could set it higher, since every payout is an transaction and you have to pay the transaction cost (which is not much, but still)

$0.03

3 votes