Confused on crypto - can anyone confirm if this is possible

[djefferis]

Ok - confused on a crypto transaction and want to verify if this is possible.

Book claims to have sent 1k on Tuesday - and provided transaction info which confirms a payment was sent on this date. Shows confirmed.

I have not received in my wallet yet.

Is it possible that the transaction was completed - but not posted to my wallet ?

I am far from an expert on the topic - my assumption is the company hosting the wallet is simply "holding" the BTC and not releasing it to my account yet - similar to how a bank would hold an ACH/direct deposit when its received from the clearinghouse - while the money is "there" they keep it for 24-72 hours and use it as a "float" so make interest on the funds for that time (which is fractions of a cent - but do it a few million times a day and it adds up).

Not happy with how the book has handled things - basically said we paid you, we can show it and its "impossible" that you didn't receive it (implying I am being dishonest with them) - even AFTER I said lets give it the day and see assuming things are simply caught somewhere and not being posted by my wallet host.

I know IDEALLY crypto is instant - of course that's ideal and assumes you paid for the transfer. Free relies on network congestion/fees and can easily take a day (I had one yesterday that was sent at Noon and did not confirm until 11p last night). But once confirmed - should it be in my account or does that depend on the company hosting the wallet ?

 

[BMR Genie]

Hopefully, someone with this kind of experience will be able to give you good advice, DJ.

Bumping for everyone to see!

 

[rolandcorts]

Share the transaction. It will show the address they sent the payment to. If you can confirm in your wallet that you generated that address from that wallet, then that is very odd. Maybe the wallet needs a refresh.

But you might be incorrectly referring to your wallet as actually being a crypto exchange. If you generated the address directly in Coinbase or Kraken or something, then it is possible they are holding it and waiting for more confirmations or something.

 

[Tanko]

Did you send it to a wallet on an exchanger or a private (non-custodial) wallet?

If sent to a private wallet it will show up immediately in that wallet (once books hits send) and appear as pending until it is confirmed on the blockchain.

If sent to an exchange wallet, it may sit (?) like Roland indicates. I'm not sure about exchange wallets since I always use private wallets for transactions with the books.

 

[djefferis]

Share the transaction. It will show the address they sent the payment to. If you can confirm in your wallet that you generated that address from that wallet, then that is very odd. Maybe the wallet needs a refresh.

But you might be incorrectly referring to your wallet as actually being a crypto exchange. If you generated the address directly in Coinbase or Kraken or something, then it is possible they are holding it and waiting for more confirmations or something.

I think we have an answer.

Speaking with the company who was supposed to receive it - they are acknowledging a "programing error" in which BTC was not properly credited to accounts. Allegedly became aware of the issue this morning and are "working on it". No ETA - no apology or explanations.

They admit though the transaction history shows it being added - but did not credit to my account.

There's a reason people say do not trust the dominate person to person payment service and once again I can verify they have managed to screw up another transaction with no idea when/if I might get my money properly credited.

 

[bigdaniil445]

I think we have an answer.

Speaking with the company who was supposed to receive it - they are acknowledging a "programing error" in which BTC was not properly credited to accounts. Allegedly became aware of the issue this morning and are "working on it". No ETA - no apology or explanations.

They admit though the transaction history shows it being added - but did not credit to my account.

There's a reason people say do not trust the dominate person to person payment service and once again I can verify they have managed to screw up another transaction with no idea when/if I might get my money properly credited.

'Error' my ass.

The least the managing company can do is take the period of 48 hours (or however long passed since the transaction was posted to the blockchain), find the BEST exchange rate and give that rate to you, the client.

Amateurs lol

 

[djefferis]

Let the book know - and once again would be VERY careful receiving/keeping any funds in a P2P payment app these days - especially in one who is linked up with every one of the "legal" sports betting apps and likely very influenced to cooperate in shutting down funding for offshore operators.

I've had my share of issues with this app when buying and selling knives (they call them weapons) in the past - should have known they would start getting funny about crypto from a gambling processor. I am done with them completely after this - assuming they don't boot me anyway.

 

[sunshine11]

Stay away from bitcoin. Live in the 80s it’s easier.

 

[djefferis]

Stay away from bitcoin. Live in the 80s it’s easier.

Yea - heard something about how easy it is to just have someone mail you a money order recently.

I'll stick with being paid in minutes 99.9% of the time. It's a pain when the system fails - but nothing, including the post office is infallible.

 

[jjgold]

I would never do any large transactions coins not worth it

 

[BigJay]

Stay away from bitcoin. Live in the 80s it’s easier.

I would never do any large transactions coins not worth it

@sunshine11 and @jjgold going to the “bank”

- YouTube

Enjoy the videos and music you love, upload original content, and share it all with friends, family, and the world on YouTube.

m.youtube.com

 

[djefferis]

I would never do any large transactions coins not worth it

Define “large” - your definition and mine are likely different.

To me - beyond mid 4 figures is the upper threshold anything less - it’s just easier.

This was barely 4 figures.

Have a feeling buying a value meal at McDs would be a large transaction by your standards. All good though - lesson learned - stick to Atomic going forward.

 

[sportsbettor5]

Not your keys, not your crypto.

 

[thefix]

What site came up with this excuse?

 

[djefferis]

What site came up with this excuse?

The service commonly referred to as PP

I know - shouldn’t use them to start with vs getting a “real” crypto app - but it was convenient.

I’m now using Atomic for all crypto - lessons learned. Pay the few dollars to expedite deposits and don’t trust PP EVER.

 

[Tanko]

The service commonly referred to as PP

I know - shouldn’t use them to start with vs getting a “real” crypto app - but it was convenient.

I’m now using Atomic for all crypto - lessons learned. Pay the few dollars to expedite deposits and don’t trust PP EVER.

I've had problems with them in the past with CC charges on my account. Charges were appearing for payments made on the service and they weren't mine. I got it resolved but removed my CC from the site.

 

[rolandcorts]

The service commonly referred to as PP

I know - shouldn’t use them to start with vs getting a “real” crypto app - but it was convenient.

I’m now using Atomic for all crypto - lessons learned. Pay the few dollars to expedite deposits and don’t trust PP EVER.

Good lord

 

[keithrichard]

The service commonly referred to as PP

I know - shouldn’t use them to start with vs getting a “real” crypto app - but it was convenient.

I’m now using Atomic for all crypto - lessons learned. Pay the few dollars to expedite deposits and don’t trust PP EVER.

Doesn't surprise me. I'd never use them or Coinbase for crypto.

 

[flyingillini]

Stay away from bitcoin. Live in the 80s it’s easier.

How you are today sexy mama?

 

[herky]

why are you guys using 3rd parties to send crypto. Get a wallet and do it yourself. The whole point of bitcoin is that it is decentralized and you guys keep using centralized garbage to hold and transfer "your" bitcoin. Not your keys, not your coins!