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ATTN: BTC sellers

Discussion in 'General Discussion' started by Princess, May 19, 2017.

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  1. Princess

    Princess Moderator + OMM -

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    If you're selling goods via BTC, make sure you do NOT give the buyer the goods until there's at least 1 confirmation. Apparently
    there's a way for buyers to retract the payment if there is 0 confirmations and they're using certain wallets. Wasn't aware of this as I've never had any issues and just gave buyer the goods since it was taking a while to confirm and the funds ended up disappearing from my wallet balance the next day. Just a friendly warning :)
     
    Redundant and Ross like this.
  2. Roof

    Roof -

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    This is called a double spend. It's been an issue with BTC for months and months now. Happened to me a few times.
    ALSO, BTC confirmations are at an all time high right now - over 200k unconfirmed transactions. This means, unless the buyer puts a large fee, it will take days to get even one confirmation.
     
  3. TinyRick

    TinyRick -

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    Only select people know how to do this.
     
  4. Roof

    Roof -

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    BTC isn't exactly a great choice right now because of the slow down in the network recently anyways.
     
  5. DubbleJord

    DubbleJord -

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    confirmation speeds always been slow to me, just something you have to deal with while selling i'll always wait for 3/3 unless its the hours kind then 2/3
     

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