The Case if The Vanishing Bitcoin
May 5th, 2017 at 12:34:08 AM
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Some friends and I are venturing into Bitcoins. People have told me Bitcoin isn't that complicated, but I can't really grasp it. I know it has something to do with computers.
So here is what happened. We wanted to move money from one account to another at an online casino. Test case, $50.
Casino account A ---> Bitcoin wallet A --> Bitcoin Wallet B --> Casino account B No problemo.
Moving $950.
Casino Account A ---> Bitcoin wallet A ---. Bitcoin Wallet B.
The money vanished transferring between wallets. We think, maybe, because we used the same receiving address twice.
Is this a good explanation? If so, is the money gone forever?
What is a good way for idiots to use bitcoin? Is there a basic guide that someone can recommend?
So here is what happened. We wanted to move money from one account to another at an online casino. Test case, $50.
Casino account A ---> Bitcoin wallet A --> Bitcoin Wallet B --> Casino account B No problemo.
Moving $950.
Casino Account A ---> Bitcoin wallet A ---. Bitcoin Wallet B.
The money vanished transferring between wallets. We think, maybe, because we used the same receiving address twice.
Is this a good explanation? If so, is the money gone forever?
What is a good way for idiots to use bitcoin? Is there a basic guide that someone can recommend?
May 5th, 2017 at 2:34:36 AM
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I'm staying away from Bitcoins, with plenty of other payment methods on offer (and I don't understand it!!) I don't see the benefit.
Someone below will give you more explanation!
Someone below will give you more explanation!
Fun loving bloke, absolutely love music and going to Ibiza. Girls, banter... love it!
May 5th, 2017 at 9:35:13 AM
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I don't think the money is gone and it doesn't matter if you use the same receive address. The receive address usually changes for most bitcoin wallets for each new transaction but old receive addresses are linked to your wallet forever. Can you post a link of the transaction? There should be a link in the wallet you used or something that says click here to verify.
May 5th, 2017 at 10:04:53 AM
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You can check the blockchain transaction history.
How much do you trust these friends? Either someone messed up the wallet address they entered, or they are bamboozling you. Bitcoins do not just disappear.
How much do you trust these friends? Either someone messed up the wallet address they entered, or they are bamboozling you. Bitcoins do not just disappear.
May 5th, 2017 at 11:52:58 AM
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Axel said recently he had a larger sum, I think $1,000 vanish. These stories do not give me confidence to get involved in Bitcoin. It would be easier to have faith in it if there were a human being you could turn to for help. There doesn't seem to be anyone in charge of it.
"For with much wisdom comes much sorrow." -- Ecclesiastes 1:18 (NIV)
May 5th, 2017 at 2:48:39 PM
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Ya, I said we had about 1k go missing, it's actually $950 and it's the same transaction he's talking about.Quote: WizardAxel said recently he had a larger sum, I think $1,000 vanish. These stories do not give me confidence to get involved in Bitcoin. It would be easier to have faith in it if there were a human being you could turn to for help. There doesn't seem to be anyone in charge of it.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 5th, 2017 at 2:50:52 PM
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Can you truly ever really trust a Male Miata driver with your BC? Not that I would ever let one near my BC.Quote: gamerfreakYou can check the blockchain transaction history.
How much do you trust these friends? Either someone messed up the wallet address they entered, or they are bamboozling you. Bitcoins do not just disappear.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 5th, 2017 at 3:32:36 PM
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Quote: gamerfreakYou can check the blockchain transaction history.
How much do you trust these friends? Either someone messed up the wallet address they entered, or they are bamboozling you. Bitcoins do not just disappear.
I concur with this advice. Use a blockchain explorer like https://blockexplorer.com/ or https://blockchain.info/ to look up the transactions to see what actually happened.
Assume the worst, believe no one, and make your move only when you are certain that you are unbeatable or have, at worst, exceptionally good odds in your favor.
May 6th, 2017 at 1:01:44 PM
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Bitcoin is not complicated at all. All transactions are logged for anyone to see. Post the info and we can figure out what happened.
May 6th, 2017 at 1:58:49 PM
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I can check it out, but first I need your SSN, a list of your current bank accounts, and a routing number. Your passwords would make it easier but not really needed.
The older I get, the better I recall things that never happened
May 6th, 2017 at 4:54:28 PM
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LOL. I was thinking, don't be posting anything on here related to your bitcoin account.Quote: billryanI can check it out, but first I need your SSN, a list of your current bank accounts, and a routing number. Your passwords would make it easier but not really needed.
If its as easy as people are suggesting, then someone can just do it themselves.
My suggestion was not to use macsuoywallet.com in the first place.
♪♪Now you swear and kick and beg us That you're not a gamblin' man Then you find you're back in Vegas With a handle in your hand♪♪ Your black cards can make you money So you hide them when you're able In the land of casinos and money You must put them on the table♪♪ You go back Jack do it again roulette wheels turinin' 'round and 'round♪♪ You go back Jack do it again♪♪
May 6th, 2017 at 5:27:24 PM
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Most likely explanation is the fee was too low.
May 6th, 2017 at 7:19:31 PM
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Quote: billryanI can check it out, but first I need your SSN, a list of your current bank accounts, and a routing number. Your passwords would make it easier but not really needed.
Every single transaction that has ever taken place with Bitcoin is logged and made public on 100's of websites. Not a good idea to chime in on something you have no knowledge of.
May 6th, 2017 at 7:20:31 PM
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Quote: tongniMost likely explanation is the fee was too low.
If so, the coins will find themselves back into the wallet.
May 6th, 2017 at 7:20:51 PM
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Quote: black2Every single transaction that has ever taken place with Bitcoin is logged and made public on 100's of websites. Not a good idea to chime in on something you have no knowledge of.
I'm pretty sure billryan's post was sarcasm.
May 6th, 2017 at 7:33:42 PM
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Not a good idea to chime in on something you have no knowledge of.
Right, because only experts post on the internet's.
Lighten up, Francis.
Right, because only experts post on the internet's.
Lighten up, Francis.
The older I get, the better I recall things that never happened
May 7th, 2017 at 7:26:17 AM
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https://bitcoinmagazine.com/articles/what-to-do-if-your-bitcoin-transaction-gets-stuck-1481042383/
I would try this. FWIW, bitcoin has had some of the strongest opportunities out there for AP/arbitrage in the last couple years. I think it's reaching bubble levels though now. The volatility is truly enormous though, a 50% increase or decrease in a day or two wouldn't surprise me. BTC's been very good to me, but I think I'm ready to part ways with it.
I would try this. FWIW, bitcoin has had some of the strongest opportunities out there for AP/arbitrage in the last couple years. I think it's reaching bubble levels though now. The volatility is truly enormous though, a 50% increase or decrease in a day or two wouldn't surprise me. BTC's been very good to me, but I think I'm ready to part ways with it.
