About payouts


  • administrators

    Initially, payments were made with Faucetbox. It was very convenient for everyone. But Faucetbox closed in late 2016. LWOS has therefore decided to make the payments itself. There are more constraints.

    For this, a minimum threshold has been decided.

    After unsuccessful attempts to make daily payments (time, cost), a weekly payment was decided, more adapted.

    A contribution to the fees has also been added.
    More information about the threshold and fees:
    https://littleworldofsatoshi.com/withdraw

    Since the implementation of weekly payments, there have been no problems to report. The Bitcoin network can be congested. The payment can sometimes take several hours before having a first confirmation.

    Of course, to receive a payment, you must have earned the necessary amount and also have filled in a Bitcoin address in your profile.

    If you do not have a Bitcoin address or you do not know how to do it, you can always ask your questions here.


  • administrators

    For information, the mempools is currently very huge (https://blockchain.info/en/charts/mempool-size ). Probably tomorrow the payout will take a very long time to be confirmed. Don't be surprise.



  • If not payots, don't worry, be happy 🙂


  • administrators

    @rebombo You didn't understand my news about mempool.



  • @satosushi this is joke :)I undertood your news clear, you not understood 🙂 this is from my age 🙂


  • administrators

    As expected, the last payment was very long ... but nevertheless fast given the current situation of the Bitcoin network. The mempool is still saturated.


    For the little story, it is normal for the value of the coin to fall during the payment (6 confirmations). This is due to the fact that the balance of players is counted twice, this was necessary when using Faucetbox, no longer with the direct payment. But this "error" has not been corrected because it remains 'fun'. We can see very well on the graph the time taken for the payment. Instructive. 🙂


  • administrators

    For information, the mempools is currently very huge (https://blockchain.info/en/charts/mempool-size ). Probably the current payout will take a very long time to be confirmed. Don't be surprise.


  • administrators

    The current payout (17 Dec.) encounter difficulties because the blockchain site is currently unavailable.

    Anyways, payouts has been sent:
    https://blockexplorer.com/tx/96c767d0e7af82c0bcb9c2f0d703e071d1d01f6122fdd9f5da5a96ed337aaf63

    In addition, mempool is again huge , so the transaction will take a long time to get the first confirmation.



  • Yes. BTC went crazy on all levels. Price went crazy in a matter of days, mempool is big. Lower fee transactions need time to be confirmed. As far as I understand you also pay percentage of fee for all of us. Thank you, Satosushi 🙂


  • administrators

    As said, the Bitcoin network is currently experiencing record usage, resulting in longer confirmation times.

    It is therefore impossible to know when the last payment in progress will receive its first confirmation. It can be in a few hours or a few days. As a Bitcoin user, you should know that you should never be in a hurry when sending money.


  • administrators

    The last payment is still not confirmed, the number of pending bitcoin transactions (mempool) continues to be very important, the situation doesn't seem to improve.

    https://blockchain.info/tx/96c767d0e7af82c0bcb9c2f0d703e071d1d01f6122fdd9f5da5a96ed337aaf63

    Take a look:
    https://jochen-hoenicke.de/queue/#all

    It must be expected 14 days before a transaction is considered canceled and funds returned. Let's hope the transaction is confirmed before this deadline!!!

    Second, the LWOS payout system doesn't allow you to send another payment if there is already a payment in progress. That is to say that the next payment (24th Sunday) can not take place if the payment of December 17 is not confirmed.

    Third, if the payment is confirmed, there is the problem that the fees may not be large enough and the payment may again be very long. The solution is therefore to increase the fees and to know the participation of each player paid. Currently, base fees of 7000 satoshis + each paid player participates with 500 satoshis. No idea for the moment of the new amounts.


  • administrators

    The payout (17 December) was finally confirmed this morning! (23 December)


  • administrators

    The mempool regularly has congestion but so far LWOS payouts have always been confirmed in acceptable times.

    With the growing popularity of Bitcoin, the network is becoming more and more used and therefore more easily saturated. Add to this that there is also, per period, attacks (the network is spammed with a lot of transactions to saturate more).


    These "traffic jam" periods may become more frequent. In order to try to guarantee an acceptable confirmation time (ie less than 24 hours) and avoid the same situation as the last payout, the participation fee from players will now vary, depending on the state of the mempool: between 500 ~ 5000 satoshis.



  • Honestly, I am even good if the payouts would be sent every two weeks or even once a month. And I am ok with slow payout times.


  • administrators

    @pitons I know.

    But mempool is still crazy for now.

    I calculated, according with the average weight of transaction and number of players per payout, with the current estimated fees (700 satoshi/byte, for the 18 next blocks) and if player pays 5000 satoshis, LWOS have to pay 685000 satoshis . Well... 🔇



  • 😧


  • administrators

    A base of 200 satoshi/byte will be use as maximum.


  • administrators

    For those who don't want to be payed every week (once a month for example), they can temporary delete their bitcoin address into their profile page. So, payout will not operate for them until a valid address is provided.


  • administrators

    Player fees decreased to 4000 satoshis for the current payout (31 December 2017) and got 1 confirmation after 30 minutes.
    Mempool estimates was 400 satoshis/byte.
    The transaction:
    970 bytes
    Fee per byte 173.196 sat/B


  • administrators

    Player fees decreased to 2500 satoshis for the current payout (21 Jan. 2018) and got quickly 1 confirmation .

    Mempool estimates was 140 satoshis/byte.

    The transaction:

    • 875 bytes
    • Fee per byte 149.701 sat/B

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