I read it as:
Of those miners that were interested:
14% for no change
86% for making a change
The rest of the miners had no opinion. No idea how many of these there are.
Assuming most of the people who did not want a change actually voted or that the sample is representative, I think we should be discussing the best change to make going forwards.
So, what is so good about setting a payout threshold?
I think there should be manual payout (on demand) alongside user-adjusted automatic payout level (or payout frequency) mechanism if we want to eliminate most of future complains.
I don’t see that much diffrence in usability bettwen payout level and payout frequency if they can be changed by user…
However, I voted for 1.01 XPM barrier as easy to make provisional solution.
I think that the current payout level of 3.01 XPM is ok. Higher payout freequency causes higher transaction costs.
The best solution in my opinion would be a custom payout level with a minimum of 1.01 XPM.
Good point YogiBaer.
What are the transaction costs?
What other limitations are there?
[quote=“yogibaer, post:23, topic:1195”]I think that the current payout level of 3.01 XPM is ok. Higher payout freequency causes higher transaction costs.
The best solution in my opinion would be a custom payout level with a minimum of 1.01 XPM.[/quote]
Transaction cost is the same, one transaction can have many outputs. All the pools bundle the payout in one transaction, paying one transaction fee per scheduled payout job.
no, the transaction fee also depends on the transaction size (in terms of bytes)
thus many small payouts will increase the size of the transaction, increasing the transaction fee
just sayin’
[quote=“xolokram, post:26, topic:1195”]no, the transaction fee also depends on the transaction size (in terms of bytes)
thus many small payouts will increase the size of the transaction, increasing the transaction fee
just sayin’
Well that’s true, but the increase is negligible compared to the amount being transacted, right? it’s like an increase of 0.01 per transaction?
Although the transaction fees are important.
It is the fee that the miner experiences that counts.
If I understand correctly:
Miners payout
Miners payout fee =------------------- * Total Transaction fees
Total payout
So as long as the Total payout is large enough the fees are negligible.
Since fee levels were not an option in the questionnaire, lets explore how this might work:
Lets say we want to specify the max % fee we are prepared to accept:
Total Transaction fees
Percentage fee = ---------------------------- * 100%
Total payout
Then the time between payouts and the payout will vary because you have to wait until the total payout for the select %fee to be reached.
To achieve this I think you would have to use a fixed selection of percentages otherwise your choice may be unique and so you always get 100% of the fee or join the next lowest %fee with enough members.
It would be possible to estimate the time to the next payout so Newbies knew what to expect:
Total Transaction fees Time taken so far
Time to next payout approximately ~ ---------------------------- *100 * ----------------------------------------------- - Time taken so far
Percentage Fee Total XPM at this fee level mined so far
This is Ignoring difficulty changes and assuming the same computing power over the period.
In fact you could give an estimate payout date next to each Fee option if you wanted.
On a similar basis you could give an estimate of the miners payout amount on that date.
If more people joined a %fee level then the time to payout shortens and the payout for each miner gets smaller.
Similarly if miners move away from a level then the time to payout increases and the payout increases for each Miner on that level.
Any one like that idea?
Using the bitcoin formula
in*148 + out*34 + 10
to calculate the size of a transaction.
2148+2034+10=986 ~ 1KB
2 used because there may be more than one input at a time, i.e. moving from the last few primecoins in one block to another block.
You could effectively send to 20 people for the 0.01 primecoin fee, assuming transaction sizes are the same as BTC.
Thanks.
Still learning here:)
Could you combine a maximum payout frequency with a minimum payout amount…
So say it’s 1 day & 1.01 xpm, if a miner makes more than 1.01xpm a day they get paid daily, if they make less than 1.01xpm a day they get paid the day after they hit 1.01xpm. Then nobody will be waiting too long to get paid or get hit by too many transaction fees.