Cashing out on Steemit mining

in #mining8 years ago

Steem!

So you have your miner(s) up and running and you want to cash out. But your funds are all over the place! You have set your witnesses to several different account names and your funds are spread out. It is possible to withdraw your steempower to your main account. You just have to be very, very patient. So what can you do to transfer funds?

One


Number one is that you can login to the witness accounts that have actually found a proof of work (pow). You can tell if your witness account has found one by going to https://steemd.com/@yourusername. You can login to any of the witness accounts with your active private key. If you go to your wallet you can see that that account now holds steempower. You can start powering down which converts them back to STEEM every week over a period of 2 years. So every week you have to login into your witness account and transfer the newly created STEEM to your main account. Depending on how many witness accounts you have that might be a haul every week.

Two


Something else you might be interested in is powering down your steem from your witness wallets directly into your main wallet! Now we need to get cli-wallet.exe ready to actually do this. Just make sure steemd.exe is running! I would like to thank @pfunk for getting this command to my attention. We can use set_withdraw_vesting_route. Here is the help command:

gethelp set_withdraw_vesting_route

Which will output the following:

set_withdraw_vesting_route(string from, string to, uint16_t percent, bool auto_vest, bool broadcast)

Set up a vesting withdraw route. When vesting shares are withdrawn, they                                                                                                              
will be routed to these accounts based on the specified weights.                                                                                                                      
                                                                                                                                                                                  
Parameters:                                                                                                                                                                           
     from: The account the VESTS are withdrawn from. (type: string)                                                                                                                    
     to: The account receiving either VESTS or STEEM. (type: string)                                                                                                                   
     percent: The percent of the withdraw to go to the 'to' account. This is                                                                                                           
     denoted in hundreths of a percent. i.e. 100 is 1% and 10000 is                                                                                                                
     100%. This value must be between 1 and 100000 (type: uint16_t)                                                                                                                
     auto_vest: Set to true if the from account should receive the VESTS as                                                                                                            
     VESTS, or false if it should receive them as STEEM. (type: bool)                                                                                                              
     broadcast: true if you wish to broadcast the transaction. (type: bool) 

So when you open cli-wallet.exe you can execute this command below. Warning! as the help says: The percent of the withdraw to go to the 'to' account. This is denoted in hundreths of a percent. i.e. 100 is 1% and 10000 is 100%. This value must be between 1 and 100000.

Also! Set to true if the from account should receive the VESTS as VESTS (STEEM POWER), or false if it should receive them as STEEM.

# will send 100% of current available STEEM POWER from one account to the other

set_withdraw_vesting_route(your_mining_account, your_new_account, 10000, 1, 1)

Now you have activated your 2 year steem power down from one account to the other.

# will send 100% of current available STEEM POWER from one account to STEEM balance 
# in the other account

set_withdraw_vesting_route(your_mining_account, your_new_account, 10000, 0, 1)

 
This process will start the power down for the current amount of STEEMPOWER that you have. For every STEEMPOWER that you receive after the power down you would have to repeat the process.
 
 
So which option will you go for?

Sort:  

Thanks for this. I just started mining and I'm having an issue maybe you can help with. Im using vmware to mine on my windows machine. I cant seem to figure out how to open a new window without shutting down my miner. I know its something simple but I cant figure it out. I thought it was ctrl+a then c...

Do you have a graphical user interface? Because then you can just go to start menu and open up a new terminal. If you are in non-graphical environment you can use alt+F1, alt+F2 and so forth to open new terminals.

Awesome. Thank you! It's a remote terminal but hopefully that will work. Will have to try tomorrow.

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