Couple of questions on payouts and fees

[treadhead64]

1. With the new payout changes, if we haven’t met threshold of .2 ETH when the POS starts will our balance be paid out automatically?

2. I have some small amounts that are sitting in other accounts/wallets from when I was getting started on Hive - I was told they would payout once there had been no activity on the wallet for a while. That never happened. Will it?

Note: I have read the new payout policy and procedures and I am pretty confused with the whole Polygon process. Maybe I am missing something but it sure seems like a lot of hoops to jump through and a lot of opportunity to make a mistake and lose your crypto.

I am also pretty confused by the high “gas fees” for moving ETH not that Hive has any control over it.

I would like to be able to withdraw manually and appreciate Hive answering peoples calls for the option but if I am doing the math correctly the fees will eat a substantial chunk of the ETH. It is likely I am NOT doing the math correctly so if someone could explain that too me I would appreciate it lol!

Say one want to transfer at .05 eth? What gwei should you use and how do you calculate the fee?

[keaton_hiveon]

@treadhead64

• With the new payout changes, if we haven’t met threshold of .2 ETH when the POS starts will our balance be paid out automatically?

if your balance is under .2 eth when eth POW (mining) comes to an end, you may need to pay gas fees to withdraw, or it may be paid out automatically, when there is a set date for the POS eth transition expect a detailed answer from hive on what the process will be.

@treadhead64

I have some small amounts that are sitting in other accounts/wallets from when I was getting started on Hive - I was told they would payout once there had been no activity on the wallet for a while. That never happened. Will it?

Hive has had a .1eth fixed payout since eip 1559 last august, previously unpaid balances below the threshold, after being idle for so long would be paid out, but not after eip 1559.

@treadhead64

I am also pretty confused by the high “gas fees” for moving ETH not that Hive has any control over it.

gas fees vary based on transaction volume on the network. the busier it is, the higher the fees. currently were at ~50 gwei whcih comes out to be $3 USD for a mainnet transaction you can check online at 49 Gwei | Ethereum Gas Tracker | Etherscan

@treadhead64

I would like to be able to withdraw manually and appreciate Hive answering peoples calls for the option but if I am doing the math correctly the fees will eat a substantial chunk of the ETH. It is likely I am NOT doing the math correctly so if someone could explain that too me I would appreciate it lol!

Say one want to transfer at .05 eth? What gwei should you use and how do you calculate the fee?

right now the cost to transfer .05 eth (~150usd) is $3 USD. same cost for .005($15) eth or .199 eth ($597) this fee gets deducted from your transfer amount.

eth mainnet transactions can be costly, which is why you set your max gas price when requesting withdraw, and if the gas price is under your threshold, it will go through. this is going to be the same way many other popular pools are setup, but unlike the other pools, we still have the option of covering gas fees if you meet the auto pay threshold of .2 eth, but if you dont want to wait you can pay $3 in gas fee and have your balance when you want it.

alternatively, you can use the polygon network and we cover fees for withdraw over .005 eth. other popular pools have similar level 2 polygon payment options. just do your research and make sure you familiarise yourself with how level 2 works and setting up your wallet etc.

[treadhead64]

Thanks for the detailed (and fast) response!

I was definitely calculating wrong… lol!

[keaton_hiveon]

no problem, hopefully that answers all your questions.

gas fees bounce around quite a bit. so best to just set your threshold and wait for them to drop instead of getting hit with a bigger fee. 10 minutes after i posted that its half of what it was.