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Getting Mighty Burned By BTC Withdraws on Exchanges

The days of fast movements in Bitcoin seems to be seriously a thing of the past. I love Bitcoin but we need Segwit fast or man will it continue to get slow and expensive to toy with BTC in the micropayment level.

In the last 3 months now I have had a few instances of 2 day withdraw pending limbo hell. It varies and happens at random I am guessing due to the constant influx up and down of fees the miners need to get that block done. I am guessing my unlucky moments have come due to exchanges not catching what the current rates are and sending out on a whim in hopes its enough. This I can't blame on exchanges nor anyone else because it is pretty hard to keep up with on an hourly basis.

Today $50 Is Just Living in Mempool Heaven For This Guy

First thing lets get this out of the way, I know better than to trust on old YoBit to be johnny on the spot to help with support, I think I have sent them tickets so much over the year of exchange playing that its pretty expected an issue over there never gets a usual response back. Good news is, that exchange may have a shady feel about it but I have yet to lose a dime in there so far. I tend to have to use them sometimes for coins I mine and right now its one of our better volume spots for Visio where I work but its a spot that you are kind of on your own if an issue comes about.

Today, being not the major Whale I wish I could be, I had a bill and things to purchase for the household so I decided to dip out some altcoin holdings for a little $50 dividend to keep things afloat. Well my friends I sent this out to my Bitpay wallet to load the old debit card and lets just say 15 hours later I am here looking at a PENDING state with no confirmations. This is a common hiccup on all of my go to exchanges when it comes to BTC, at random it just hits me for some reason that I get put to the bottom of the transactional mining list and have to wait it out a day or so.

So what do you do? You scream at YoBit or the other exchanges? I mean hell this fee I paid today was almost $8 for a transaction and if that is not enough on $50 then someone needs to get this issue in BTC corrected fast. I am left right now to speculate though, no response on support but the old YoBit troll box is full of guys in the same position as myself and a few coming off other exchanges screaming the same issues on other exchanges.

Maybe An Old Dog Can Pull Some New Tricks For Crypto Users on The Low End of the Food Chain

While above may seem to you as a rant, not really the case. Money comes and goes and way BTC is right now we are all going through some growing pains with it till we sort the needed fixes for all involved. Bitcoin Cash is a clear case of how manipulated even the top dogs can get but in a weird way that came as a success story so even things we fear in crypto can have silver linings at the end stage. My BTC will arrive, might take a day but I am sure one of my miners will catch that block someday lol.

Instead of stressing out, I tend to be the type to look around at all the options. So right now it appears moving out of exchanges in BTC can be a bit messy until SegWit swoops in and saves the day, so we have to look at options and tactics on how to get from point A to B, and in crypto you might want to add C and D because sometimes the flow extends to reach that end goal to put hard cash in your hands.

Tonight I did some testing and damn if Blocktrades didn't set me straight on another move of BTC to Bitpay, not one issue and yet to see one issue using them to this day. So what I am thinking of doing till the coast is clear is to make use of the old DOGE low transnational fees to take smaller amounts out of exchanges and relocate them through Blocktrades and safely get that Bitcoin in my wallet for the time being.

DOGE did come out of a place as a crypto joke but what fascinates me is this ongoing love for its uses and its ability to stay low but keep chugging along with us crypto enthusiasts. Hey if all it ever does is help moves some funds around and save a little money in the process, then thank God for it sticking around with us all.

Don't Sweat The Small Crypto Hiccups

In closing I want to express how important we all remain calm when issues persist in this amazing market we grown fond of. I have been working for quite awhile in crypto myself and I must say being paid in crypto and helping the evolution of this space in my own small way is something I take a lot of pride in. Due to the nature of it being still young, it has its issues and we all have to kind of expect not every day it will run smoothly. Yea I needed this money today to get a few things done today but hey there is always tomorrow and if not then another day. Well as long as YoBit doesn't make that BTC disappear on me, then I am sending the DOGECOIN dog in for the kill....lol.

TRUST IN CRYPTO, EVEN IF IT GIVES YOU A FEW HEADACHES ALONG THE WAY, STILL WORTH IT!!!

~sflaherty

Follow me @sflaherty