28 Dec, 17
As you are no doubt aware the bitcoin blockchain is backlogged and small transactions are taking a long time to confirm. Many members have been withdrawing the minimum payout amount of just €20 every time their account balance reached €20, this despite us posting the notice that you will see below advising against this in order to save you on fees.
Clearly it makes no sense for you to withdraw €20 and have to pay blockchain fees of around €8, and we are getting hundreds of tickets daily asking why a withdrawal of €20 has resulted in a member receiving around €12 even though we clearly explain this on the payout page, in the FAQs, and here in the news feed. Answering support tickets at this level is not good use of our support teams time, and therefore as of today we have decided to raise the minimum payout to €50
Here is the actual information from our FAQs and Payout Page...
Although Power Mining Pool do not charge anything for processing withdrawals the blockchain fees for all payments is 0.0007 BTC per withdrawal, it doesnt matter if you withdraw €20 or €20,0000 the blockchain fee will still be 0.0007 BTC and we have no control over this. It's therefore better for you if you let your profits build up and make bigger withdrawals less often rather than withdraw every time you reach €20 otherwise a large percentage of that €20 will be lost to blockchain fees.
As stated above the minimum payout amount is now €50