Altcoins recommended for payouts
Postby Steve Sokolowski » Mon Feb 29, 2016 10:43 pm
The bitcoin network has maxed out its capacity and, as a result, the transaction we sent this morning to pay users remains unconfirmed after 16 hours. Because of the way the network works, we can’t withdrawal the transaction, which means our only choice is to wait and see when the transaction confirms. Additionally, the software complexity required to double-spend the transaction, if it would even be accepted by nodes, is not feasible for us to implement.
For now, we urge everyone to please request payouts in litecoins, Monero, Ethereum, NXT, Dogecoins, or another coin. These networks are much more reliable and your payments will be received promptly. If you don’t know which to choose, the litecoin network has shown excellent price stability over the past six months and litecoins are tradeable for almost every other currency at most exchanges. We will be setting the default payout coin for new users to litecoin in the coming weeks, although anyone can still request payouts in bitcoin through the usual payout proportions interface.
If our transactions continue to disappear for two more days, Chris will investigate other options, which may involve a surcharge on bitcoin payouts to allow us to raise fees. Regardless of what we decide, altcoin payouts will remain free (as long as the amounts are above the payout threshold).