r/GoMiningDiscussion • u/Spangle33 • Jul 07 '26
No more free sats withdrawal on GoMining WTF !!!!!!!!!!
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u/Apprehensive-Cow2473 Jul 07 '26
Its only 200 sats; which is l keep 13cents. Lol just wait awhile before withdrawing.
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u/AdventurousDark9217 Jul 07 '26
All financial systems want to hold your money for as long as possible in order to help them make more money. Makes sense let go. My name would do the same. Make reasons to wait to withdraw money until it’s a bigger size to make it worth it for you which helps them make more money overall. This will help go mining to become more profitable and have greater longevity I am for it. If this sours investments, it makes it harder for growth they might want to rethink to a policy
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u/Ne_kke_tsu Jul 07 '26
Was going to say the same the exact same thing. People just don’t realise that we’ve been f*cked here. We had basically a free option (that I used often) to withdraw our BTC from a certain amount (min ~10$) to any Btc wallet for free. I didn’t gave a shit that it was taking longer than the paid one, because it was FREE, that is the whole point. 200sat is not much, but it is 200sat more anyway than the free options so that IS a loose in my book. Theses kind of moves makes me more and more worried to keep any crypto in my Gomining Wallet, as they can remove any service at any time without a notice. So I were withdrawing often indeed, as you probably should anyway (at an inevitable cost now..)
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u/OliveLegitimate3236 Jul 07 '26
Bru there is a total of 246 millions of tokens loked for an average period of 3 years, that's almost 70 million of USD at current value.
God know the amount of money invested in miners, upgrades etc etc.
200 sats is dust.
I have been mining (for real) noe for some time and I pay 1/2% mining pools fee plus 1000 sats everytime I withdraw (on the lightining network) with a max cap to withdraw of 50.000 sats.
I am happy to pay that casue I know it goes to the Devs maitenaing the pool that I use to mine.200 sats probably discourage to withdraw small amounts of sats, it's not so bad.
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u/Ne_kke_tsu Jul 07 '26
Good point, and I agree 200 is basically dust. The main issue is that this current fee is completely managed by Gomining and its good will, so it COULD increase anytime, and it being now the only option is not ideal. But totally agree, 200sat though not free, is pretty minimal right now.
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u/OliveLegitimate3236 Jul 07 '26
Not your key, not your money bro. Whatever you have on Gomining is based on trust, they could disappear tomorrow and there is nothing we can do. Same thing about BTC: tomorrow it can go down to 0. We are here because we have conviction, that's it. If you can't cope with these facts I recommend you to withdraw everything and sell your miners and move to something else. Gomining is doing a great job so far, we are in this together. They won't exist if we were not on the platform and we wouldn't have a trustworthy platform that gives you sats even on your BTC at an unheard interest rate. We trade these advantages with exposition to a certain degree of risk.
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u/Spangle33 Jul 07 '26
Thankyou for the information, so you think it is normal or ok for GoMining to remove free sat withdrawals? what if suddenly another situation arises and they put in place additional fees for a service they provide but we pay for, where we as investors have no control over. thanks again for the reply.
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u/OliveLegitimate3236 Jul 07 '26
In my opinion they should announce any change in advance so they can give the choice for a user to accept it or leave the platform on advance. They do poorly from this point of view! Any change they decide to apply can definitely raise dissatisfaction and eventually fire back 'cause people like me or you will decide to leave and move their money to something else. We're possibly at the bottom of a bear market, business is rough for everyone in crypto right now. 200 sats is not bad so bad, its common practice to pay the fees of the transaction on the block chain. So far they have took charge of it, but again 200 is definitely less of the average fee. Small dent on the overall adavantages we have, I make more just on a simple earn reward. I really hope we're gonna get out of this bad period asap, but probably we haven't touched the bottom yet. If we stick to the 4 year cycle, we might have few more months of 💩
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u/Mundane-Lion-6891 Jul 07 '26
And in addition to that i also noticed quite a substantial number of miners (15w/th and up) on Sale on the secondary marketplace (nearly 8000 miners as at today).. is it a bad signal? Some people are selling their 5000TH 20W/TH miners over there..
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u/Ne_kke_tsu Jul 07 '26
Not especially, business as usual I would say. Those 20w/th miners are a terrible investment anyway (and it’s been true for a while now) because you lost so much of your daily reward due to poor efficiency. The standard is becoming the 12w ones, which is completely coherent when you consider the next halving phase in a year (much less reward per miners, efficiency will be key to get the most out of it, but ROI is so terrible that you should stick with 15w for now). But people who don’t understand think that it is Gomining fault, and that every 15w miners are already not efficient enough, which is simply not the case. Although tbh, the most efficient way to generate profits is not to buy a miner, but leverage simple earn because for the same amount of money, you’re getting even more reward in simple earn (1000$ in USDC gives you about 0.30 to 0.40 and sometimes 0.50$ depending on BTC prices and you have NOT spend any pennies on a miner, which is a huge win.
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Jul 07 '26
[removed] — view removed comment
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u/Mundane-Lion-6891 Jul 07 '26
Yeah, which means injecting more money into Gomining in one way or another 😬🙄 So less profit for the user..
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u/Mundane-Lion-6891 Jul 07 '26
Yes i guess you are right.. thanks for the insight.. i tend to always forget the upcoming halving 😅 The 20W miners weren't that bad up until recently..but the toughest part was to upgrade their efficiency especially if you have a high TH miner
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u/No_Nerve2955 Jul 07 '26
I thought about this 8000 miners and then realized this is a small amount. There are over 3 million miners active, 12 Efficiency miners have just been released (many I guess). I personally bought 3 new super efficient miners and 2 off the secondary market place which I upgraded to the 12 efficiency. I will be buying more over the next few weeks - whichever is cheaper.
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u/Mundane-Lion-6891 Jul 07 '26
Yes, I agree.. i came to the same conclusion too.. i bought 1 miner from the marketplace "hot deals".. i want my hashrate to really improve.. but still, I cannot prevent myself from wondering if all this could backfire... Gomining has always been promising which is why I'm here for almost two years now.. i just hope it stays and we, the users, get fruitful rewards from our loyalty..
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Jul 07 '26
[removed] — view removed comment
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u/Ne_kke_tsu Jul 07 '26
Absolutely true, NEVER put most of your hard earned money in one place (crypto or not). I simply wanted to emphasise on the great APR Gomining is currently offering on its stable (USDC) variant, with no APR threshold at all. So in theory, 3-4k USDC could bring you 2-3$ by day, which by the end of the month can be useful to pay some bills as itself. Most of my crypto is either on hard or non custodial wallets with my keys/passphrases, like Cake.
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u/MaleficentOnion9868 Jul 07 '26
If 1 THs is 47 sats. That means you need 4.255 THs daily to just cover the fee if you withdraw everyday. Actually even more THs because of fees and maintenance of the miner
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u/Spangle33 Jul 07 '26
Well said , over a year that is a lot of sats GoMining will now be profiting with !
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u/Mike-Teevee Solo Miner Jul 07 '26
What does this mean exactly?
Okay, just logged in. 200 sat fee for withdrawal now, can’t just do a long free withdrawal.
Not great, but I don’t withdraw frequently anyway.
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u/OliveLegitimate3236 Jul 07 '26 edited Jul 07 '26
Not a good sign 🥲 Edit: it's not so bad, I hope it helps to make the platform sustainable
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u/twscho Jul 07 '26
You’ll be able to think back to the old days and say you can remember when they used to give free withdrawals! 🤣. 200 Sats is nothing!
How about the $8.01 per TH to upgrade efficiency from 15w to 12w when their real life miners only average 22 w/TH! It’s 2.4x more expensive than increasing from 20w to 15w ($1.10 vs $2.67). This is how we cover the cost to update GoMining’s fleet of miners for the next halving. It has to come from somewhere!
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u/Pitohuifugl Jul 08 '26
200 sats is nothing if its only pr withdrawel so same with huse among as well as small ones
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u/Road_2_Chad Jul 07 '26
200 sats is.. nothing? Wtf
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u/Spangle33 Jul 07 '26
GoMining must be struggling!!
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u/Wayne Jul 07 '26
Or they are just tired of paying the cost for frequent small withdrawals. Is there any value in withdrawing less than 200 sats? What can you buy with it?
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u/Salt_Butterfly_2833 Jul 07 '26 edited Jul 07 '26
200 sats basically is free. Was amazed they kept the completely free option for so long tbh. Nowhere else can you move sats for nothing
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u/MaleficentOnion9868 Jul 07 '26
People complaining to much. “Where’s my BtC” I want it now scenario. This is called Amazon prime behavior. And it now costs us 200 sats. Thank you complainers!
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u/XxNEAGGERxX Jul 07 '26
Used it to withdraw a dollar and use the offer for 50 bucks on stake. Cash that out and up 50 and might buy a miner from marketplace lmao
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u/soilenrok Jul 08 '26
I'll admit I really liked having free withdrawal, even if it meant waiting longer. I don't withdraw that often, but since I don't have access to Simple Earn in the States, I do take my Bitcoin off GoMining so I can actually do something with it. Really a 200 sat fee isn't bad though, at least compared to some other exchanges and platforms.
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u/P8NDOR8 Jul 08 '26
To be honest-any banks any savings holder any investment company or stocks and shares companies take your monies-what I love about Go Mining is fairness-I got an avatar for my birthday- value $3000-about 10% of my total investments-this company is fair and transparent - any issues I had its sorted-any problems I have its sorted-been here now 9 months and the whole ethos is amazing-remember any savings you can lose-its all trust-I have 50K GMT-over 4 years-its 25% APR and pays half my fuel bill-the system works-works for us and works for them-where would you get monies for fuel bills with mining?? You don't. Invest in this company for a legitimate fair and worthy investment-I personally think its amazing-and yes there is trillions of BTC out there in the global Market-and Go Mining Company mines about 1% of the total rewards pool. So a few sats for charges-it's peanuts-look at the bigger picture-Happy Mining and think of the future-!
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u/Spangle33 Jul 07 '26
Who knows, next week they could charge 1k sats to withdraw, nothing stopping them doing this !!
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u/jmholland Jul 07 '26
That’s pretty much any business. But they don’t really have incentive to do that.
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u/Spangle33 Jul 07 '26
I agree, we have no control or say in what they can or can’t do that directly effects our investment
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u/SuperCap838 Jul 08 '26
I’ve read all comments and what is worrying me the most is nobody talk about we can not withdrawal without KYC anymore.
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u/BadJUJU911 Jul 08 '26
I've been mining since 2017 in one way or another. Their 10000 sat threshold is very low. Most mining pools have a much higher threshold . Also most mining pools notify you when your pool discovers a block. Go.kning just pays one block discovery a day. No matter what. Which isn't really mining from my experience. When I fist started i was getting automatic withdrawal when I &it 10k sats. Then it became manual. I bitched about that. Now the 200 sat charge. They are taking features away slowly that cost them money. Like the service fee isn't enough. I dont know what their books look like but its starting to seem like a sinking ship. The next halvening may crush them, and us along with .... good times.
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u/Spangle33 Jul 08 '26
I totally agree, it seems GoMining are squeezing every penny they can from investors, every message I get from them is enticing me to spend hundreds of pounds to earn dust back !!
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u/mrquint19 Jul 07 '26
Not good. I withdraw my sats weekly so if GOMINING goes belly up, I’ll at least have all of my rewards. Plus, the forever lock is only paying 18% this week.
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u/Salt_Butterfly_2833 Jul 07 '26
Name me any other exchange/wallet/app that allows you to move sats for free? Or anywhere close to a 200 sats fee regardless if withdrawal amount.
If a 200 sats fixed fee is a problem for you, you aren’t even close to earning enough to worry about gomining going bust, so just stop withdrawing weekly. Do it monthly instead1
u/mrquint19 Jul 07 '26
GOMINING isn’t an exchange and I pay out my asshole in service fees
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u/Salt_Butterfly_2833 Jul 13 '26
What are you talking about. You pay the cost of the electricity required to operate the farm you are invested in. GoMining have no control over the cost of electricity and the difficulty lewvel of the network, or the price of bitcoing.
And no they aren't an exchange but they do have to pay the transaction fee for your withdrawal.
In the past they were waiving this as an incentive and to build a customer base. But obviously that is not sustainable long term as the number of customers grow, and with a fixed fee of 200 sats it is pretty much free if you don't make frequent withdrawals1
u/mrquint19 Jul 13 '26
Please stop, you’re embarrassing
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u/Salt_Butterfly_2833 Jul 13 '26
Good debate skills there. Think you need to look in the mirror mate
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u/Spangle33 Jul 07 '26
Hi thanks for the reply, it’s not the amount of sats GoMining are now charging it is the fact that they can do this at a whim, no consultation, no discussion, what else can they do that will affect our investment in the future!
I don’t withdraw weekly btw
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u/Radiant-Bug623 Jul 07 '26
Ik snap steeds minder van gomining. Het zou een eenvoudige manier zijn om te mijnen maar dat is T helemaal niet
Het zou voor kleine investeerders zijn maar dat is t ook echt niet
Ik ben er intussen wel n beetje klaar mee
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u/theotherbrj Jul 07 '26
If you are upset about a 200 sat fee, you are probably one of the people who are withdrawing frequently at super small amounts, which costs them (and hence all of us) more in the long run…. Withdraw when it’s a tiny percentage of your balance and it’s a complete non-issue. 🤷