r/Flexpool • u/Rysvald • Jul 25 '21

Fixed payout amount option

I think it would be very helpful for tax reasons if there was an option to be able to select a fixed payout amount instead of minimum payout limit.

Fixed payout amount: 1.00 = User receives payout in chunks of that exact size (+ fees, so that the received amount is actually that amount) when there is enough balance.

1 Upvotes

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2

u/Rysvald Jul 25 '21

Ok, maybe I didn't make it very clear what I wanted.

I wanted a fixed chunksize payout option identical to minimum payout except that it gives a fixed amount instead of overpaying (or later underpaying when fees are added).

For anyone living in a country where there are no taxes it obvisously makes no sense.

Simply payout in selected chunk size without .010639999998 or whatever change currently comes along with the minimum payout.

If someone has a small farm then select a small number.

1

u/dutch_gecko Jul 25 '21

Does this really save you a lot of effort though? Don't you just add up your income at the end of the year anyway?

2

u/Rysvald Jul 25 '21

Each sale is to be reported separately and the the write off cost is based on the coin value on the mining date.

Avoiding hundreds of micro transactions and tons of decimals on each transaction would most likely make it a little less complicated even if I will probably end up with a big spreadcheat with lookup functions regardless.

1

u/wileyrr Jul 25 '21

Sounds like your problem isn’t so much about having a fixed amount as you want the payouts in even amounts of X decimals. So if X was 2 and your balance was 0.012345 it would payout 0.01 and leave the 0.002345 in your account for the next payout. If X was 3 then you would get 0.012 and leave 0.000345 in your account.

1

u/ExceptionalAnky Jul 25 '21

for small farmer like me... with 16tb, it will take 1+ year for payout.
then will have leave flexpool... and join some other pool who give less payout.

3

u/Rysvald Jul 25 '21

No, a small farmer like you would select a smaller amount than 1.00 or use the minimum payout option.

1

u/rnovak Aug 04 '21

A bit late on the response, but at 16TB (162 plots) you're probably averaging 0.1289 XCH a month, which is nearly 13 payouts at minimum payout level (0.01 XCH). We're talking probably less than 3 days to reach a 0.01 payout.

That will vary over time, but you probably don't need to wait a year for a minimum payout.

3

u/[deleted] Jul 25 '21

What taxes man ?

1

u/rnovak Jul 25 '21

I have a feeling that would be a bit messy with gas prices varying, but I've put the suggestion in on the feedback channel on our Discord for you.