The problem with Bitcoin...
Or maybe just Coinbase?
I just tried to "take some profits" on Bitcoin and move a little into gold and silver... My first loves as far as assets go....
I sent the payment at the 13 or 14 minute mark of the invoice countdown, but it didn't receive a single confirmation with in the remaining time.
Anyone that has used bitpay, will my payment still go through? Will I eventually receive my American Gold Eagle and other odds and ends at the same price? Or did the long coinbase/Bitcoin network confirmation times screw me over?
P.S. All my stacker friends, APMEX now accepts Bitcoin, currently at the same as cash price.
ETA: For anyone that cares... My bitpay invoice now shows as "paid" but still no order confirmation from APMEX... I'm going to make a guess that I will eventually get the BTC back from bitpay, but I will end up losing the 0.0003 + BTC miner fee...
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Excellent time to exchange BTC for gold. @ironshield
That was the intention, but I don't think it quite worked out thanks to slow confirmation times due to high volume....
I know just transferring small amounts can be nerve-racking, I can't imaging a large transfer. @ironshield
Thankfully in the grand scheme of things its not that much USD value, but we'll see how it works out.
I wish BTC was as fast as Litecoin or Bitcoin Cash or even STEEM/SBD!!
I did a post a few days back about getting a new wirex card that allows me to lift money from an ATM. Im too lazy to explain it, i have a small hangover, haha
https://steemit.com/steemsilvergold/@silverstackeruk/wirex-btc-vasa-debit-car-arrived-time-to-cash-out-some-btc-255
That certainly would have made the whole thing quicker and easier. As it stands right now my Bitcoin is sitting on one of Bitpays wallets. I have filed the refund request, but who knows how long that will take plus I have ready lost the transaction fee to send it and I believe I will lose the transaction fee when they send it back.
Bitcoin isn't very well suited for payments it would seem, if only Litecoin was more widely used! Haha
Oh well, in the grand scheme not a huge loss, but still pretty damn frustrating.
If you can find a lesson to be learnt from the experience, than the money lost is worth it, if it saves more money down the road 😉
Thanks. I have used bitcoin on jmbullion.com and the exchange was very smooth and they give you almost the same rate as from your checking account and have free shipping. Also in about an hour they have the order marked paid and start to process the shipment. When I use my checking account it can take a few days to clear.
Bitcoin is sometimes very slow and when there is a lot of market action the confirmations can slow down even more. I hope they can get the fees and the speeds up where we can comfortably use bitcoin as a currency exchange and not just an investment token.