BTC payment problem, fees, Coinpayments

[Scorpion Ghost]

A few days ago someone sent me $14 in BTC on Coinpayments. But I didn't receive it. I checked, and I see the payment was made, but I didn't receive it. So I reopened it and waited. But again, it didn't clear.

I contacted Coinpayments, and here is what they told me:

"It appears that the funds were received but are currently being confirmed by the blockchain. Unfortunately, we can only wait for it to be processed."

So I waited, but nothing. I wrote them again:

"It seems that the funds did not receive enough confirms, would you like for us to re-open the payment and accept this?"

I said yes. I waited. Again, nothing. I wrote them again:

"There is nothing we can do as we do not own any miners, you will have to wait until the transaction is confirmed or pruned from the blockchain due to low fees."

I don't understand what it means for the transaction to be pruned from the blockchain due to low fees, so I asked them:

"Sadly, the funds sent by the buyer are too small for a refund.
In order for the refund to be generated, the amount should be twice the network fee. For BTC is 0.00040000*2.
As for the refund fees, we usually take 0.0004 as a refund fee for BTC.
However, please note that the fee is out of our control. This is payment for the miners."


---


Okay, so what the fuck am I supposed to do now? I'll fund the client the $14 eventually, because I hate to see them lose money. But then, I'm losing too. How is this even possible?

 

[Juhku]

Would've helped if you let us know the transaction hash.

But from that context, it seems like the sender sent the BTC with a very low fee.
Transactions with low fees might get stuck in that position where they won't get enough confirmations as miners will take on higher fee transactions on the queue.

You'll either have to wait longer or inform the sender that they'll need to up the fee (RBF).

Note:
If the transaction fee is super low, the transaction will practically never get enough confirmations.

 

[Scorpion Ghost]

Would've helped if you let us know the transaction hash.

But from that context, it seems like the sender sent the BTC with a very low fee.
Transactions with low fees might get stuck in that position where they won't get enough confirmations as miners will take on higher fee transactions on the queue.

You'll either have to wait longer or inform the sender that they'll need to up the fee (RBF).

Note:
If the transaction fee is super low, the transaction will practically never get enough confirmations.

Where can I find the transaction hash? I looked around on Coinpayments, and it doesn't show it.

I found the transaction here, but I can't see a transaction hash anywhere - https://www.blockchain.com/explorer/addresses/btc/

How can the sender up the fee? Send more BTC to the same address?

 

[Scorpion Ghost]

Would've helped if you let us know the transaction hash.

But from that context, it seems like the sender sent the BTC with a very low fee.
Transactions with low fees might get stuck in that position where they won't get enough confirmations as miners will take on higher fee transactions on the queue.

You'll either have to wait longer or inform the sender that they'll need to up the fee (RBF).

Note:
If the transaction fee is super low, the transaction will practically never get enough confirmations.

 

[Juhku]

How can the sender up the fee? Send more BTC to the same address?

View attachment 306984

Yup, that is a VERY low fee. I doubt that transaction will ever be confirmed.

You'll have the contact the sender and tell them to look at how they can RBF the transaction on the platform they sent it from. Most platforms should have support for RBF-ing transactions.

With the current fees, you should tell the sender to up the fees so that they are at around $3 or more.

 

[davids355]

I sent 10GBP the other day, and I clicked send without looking at the fee. Turned out the fee was 18GBP ! So it’s a problem with BTC, fees are high, or you include a fee that’s too low and nobody wants to confirm the transaction as a result.

Ordinarily I always try to send BTC only via lightning network where fees are much lower OR I send using another crypto (normally LTC which has much lower fees than Bitcoin).

 

[LilMosey]

Low fee 100%. For a couple of days now, BTC fees are extremely high. If he sent you a transaction with low fee, your transaction will probably not be confirmed for couple of more days/weeks.

 

[Juhku]

I sent 10GBP the other day, and I clicked send without looking at the fee. Turned out the fee was 18GBP ! So it’s a problem with BTC, fees are high, or you include a fee that’s too low and nobody wants to confirm the transaction as a result.

Ordinarily I always try to send BTC only via lightning network where fees are much lower OR I send using another crypto (normally LTC which has much lower fees than Bitcoin).

That's kind of the problem with BTC and ETH nowadays.

Their only reason nowadays is pretty much just to HODL. The fees have been insane for the past few years.
Not really meant for monetary transactions anymore.

 

[NirvanaWolf]

I'll fund the client the $14 eventually, because I hate to see them lose money.

That's kind of you, considering they chose the lowest fee. So low that the transaction probably won't get confirmed ever.

 

[k2h2]

There are bitcoin transaction accelarators for this. You can try even the free ones available online.

 

[kalpana007]

You should not take payment in BTC when the amount is so less. They are other good coins that will have negligible fees for this.

 

[Scorpion Ghost]

Yup, that is a VERY low fee. I doubt that transaction will ever be confirmed.

You'll have the contact the sender and tell them to look at how they can RBF the transaction on the platform they sent it from. Most platforms should have support for RBF-ing transactions.

With the current fees, you should tell the sender to up the fees so that they are at around $3 or more.

I see. Thanks for the help, much appreciated.

I told the client to do that, and we'll see what they reply. I have no idea if the client sent the payment from an exchange or a private wallet. So what happens if it's a private wallet? Should any/every exchange and private wallet support RBFing the transaction?

Ultimately, can't I send that additional $3 dollars and push the transaction lol?

I sent 10GBP the other day, and I clicked send without looking at the fee. Turned out the fee was 18GBP ! So it’s a problem with BTC, fees are high, or you include a fee that’s too low and nobody wants to confirm the transaction as a result.

Ordinarily I always try to send BTC only via lightning network where fees are much lower OR I send using another crypto (normally LTC which has much lower fees than Bitcoin).

How do you even use the lighting network? I know about it, but I have no idea how to actually use it.

I mean, in this case, I received the payment on Coinpayments. And I can't really control what network is being used. Is the sender controlling that, or the receiver, or both? How does it work?

Thanks

Low fee 100%. For a couple of days now, BTC fees are extremely high. If he sent you a transaction with low fee, your transaction will probably not be confirmed for couple of more days/weeks.

Got it, thanks.

That's kind of the problem with BTC and ETH nowadays.

Their only reason nowadays is pretty much just to HODL. The fees have been insane for the past few years.
Not really meant for monetary transactions anymore.

Yeah, I don't know. I mean, I received $100 in BTC recently, and the payment arrived fine.

Maybe now due to the current Bitcoin spike, and also because the amount is so low, maybe that's why I'm having this issue with this payment.

That's kind of you, considering they chose the lowest fee. So low that the transaction probably won't get confirmed ever.

Well, I'm not entirely sure who is at fault. The payment was received on Coinpayments. Aren't they the ones that tell the client how much crypto to send?

Then again, the client can send as much as they want, which isn't something Coinpayments can control.

What a mess. I'm not entirely sure what to do. I'd hate for the client to lose the crypto and get nothing for it. But then I'd hate for me to give services and get nothing for it.

This is bullshit!

There are bitcoin transaction accelarators for this. You can try even the free ones available online.

Really? And they work? Do you have any you've used in the past that you can recommend? I can use a Bitcoin transaction accelerator to accelerate the payment?

You should not take payment in BTC when the amount is so less. They are other good coins that will have negligible fees for this.

I accept payments in Crypto, manually and automatically. Most people pay automatically, and I don't have like a minimum amount set. And if I do, it's probably $5 or something.

 

[davids355]

I see. Thanks for the help, much appreciated.

I told the client to do that, and we'll see what they reply. I have no idea if the client sent the payment from an exchange or a private wallet. So what happens if it's a private wallet? Should any/every exchange and private wallet support RBFing the transaction?

Ultimately, can't I send that additional $3 dollars and push the transaction lol?



How do you even use the lighting network? I know about it, but I have no idea how to actually use it.

I mean, in this case, I received the payment on Coinpayments. And I can't really control what network is being used. Is the sender controlling that, or the receiver, or both? How does it work?

Thanks



Got it, thanks.



Yeah, I don't know. I mean, I received $100 in BTC recently, and the payment arrived fine.

Maybe now due to the current Bitcoin spike, and also because the amount is so low, maybe that's why I'm having this issue with this payment.



Well, I'm not entirely sure who is at fault. The payment was received on Coinpayments. Aren't they the ones that tell the client how much crypto to send?

Then again, the client can send as much as they want, which isn't something Coinpayments can control.

What a mess. I'm not entirely sure what to do. I'd hate for the client to lose the crypto and get nothing for it. But then I'd hate for me to give services and get nothing for it.

This is bullshit!



Really? And they work? Do you have any you've used in the past that you can recommend? I can use a Bitcoin transaction accelerator to accelerate the payment?



I accept payments in Crypto, manually and automatically. Most people pay automatically, and I don't have like a minimum amount set. And if I do, it's probably $5 or something.

both parties need to be using a lightning wallet such as phoenix wallet. So its not really a solution in your case, but its something to look into for anyone who wants to transact small amounts using BTC.

 

[Scorpion Ghost]

both parties need to be using a lightning wallet such as phoenix wallet. So its not really a solution in your case, but its something to look into for anyone who wants to transact small amounts using BTC.

What would you consider small amounts?

Up to $10? Up to $25? Up to $50? Up to $100? More?

 

[hostcay]

I also had 200$ stuck for 3 days for sending a 11$ fee. It eventually went through a couple hours ago. Either accelerate the transaction or wait. Accelerating will cost you x3 more than the initial amount so I wouldn’t use that unless it’s a considerable amount.

 

[davids355]

well, anything that isn't feasible to send on mainnet - for example if I try sending £10 right now, in BTC and via coinbase, the fee is £29. If I try sending this via the lightning network the fee is £0.04.

I don't know too many of the specific details about it but I use it and it works well. You can find more about it here - https://lightning.network/

Even if you transact on the lightning network and then transfer out your BTC to the main network every 1k or so, then you will have 1 fee rather than many fees per 1k.

 

[Scorpion Ghost]

I also had 200$ stuck for 3 days for sending a 11$ fee. It eventually went through a couple hours ago. Either accelerate the transaction or wait. Accelerating will cost you x3 more than the initial amount so I wouldn’t use that unless it’s a considerable amount.

I see. Thank you.

well, anything that isn't feasible to send on mainnet - for example if I try sending £10 right now, in BTC and via coinbase, the fee is £29. If I try sending this via the lightning network the fee is £0.04.

I don't know too many of the specific details about it but I use it and it works well. You can find more about it here - https://lightning.network/

Even if you transact on the lightning network and then transfer out your BTC to the main network every 1k or so, then you will have 1 fee rather than many fees per 1k.

Understood, thank you.

 

[hostcay]

You can also input your transaction hash on mempool.space and it will tell you how long it takes to confirm. You can also compare the sat/vb fee and compare it with mempool.space homepage estimate fee sat/vb how long they take to process.

 

[WARDEN08]

A few days ago someone sent me $14 in BTC on Coinpayments. But I didn't receive it. I checked, and I see the payment was made, but I didn't receive it. So I reopened it and waited. But again, it didn't clear.

I contacted Coinpayments, and here is what they told me:

"It appears that the funds were received but are currently being confirmed by the blockchain. Unfortunately, we can only wait for it to be processed."

So I waited, but nothing. I wrote them again:

"It seems that the funds did not receive enough confirms, would you like for us to re-open the payment and accept this?"

I said yes. I waited. Again, nothing. I wrote them again:

"There is nothing we can do as we do not own any miners, you will have to wait until the transaction is confirmed or pruned from the blockchain due to low fees."

I don't understand what it means for the transaction to be pruned from the blockchain due to low fees, so I asked them:

"Sadly, the funds sent by the buyer are too small for a refund.
In order for the refund to be generated, the amount should be twice the network fee. For BTC is 0.00040000*2.
As for the refund fees, we usually take 0.0004 as a refund fee for BTC.
However, please note that the fee is out of our control. This is payment for the miners."


---


Okay, so what the fuck am I supposed to do now? I'll fund the client the $14 eventually, because I hate to see them lose money. But then, I'm losing too. How is this even possible?

BTC network currently is pretty congested, looking at the mempool now (thought it changed pretty much hour to hour) the avarage tx fee is 8$, earlier today it was around 20$. It has been pretty high for the past month, and I honestly don’t see it coming down anytime soon. Your customer probably paid half of the to be paid amount in fees, it’s just not viable to use BTC right now for anything under 1000$ imo.

perhaps you could notify your clients on your website that making smaller payments should be done with a different crypto, TRX/BNB/MATIC are very cheap options.

 

[Scorpion Ghost]

That's kind of the problem with BTC and ETH nowadays.

Their only reason nowadays is pretty much just to HODL. The fees have been insane for the past few years.
Not really meant for monetary transactions anymore.

Client sent me these:





So the money is gone then? Nothing we can do?

You can also input your transaction hash on mempool.space and it will tell you how long it takes to confirm. You can also compare the sat/vb fee and compare it with mempool.space homepage estimate fee sat/vb how long they take to process.

Not sure where to find the transaction hash.