Since when do bitcoins "expire" ?

[gearedpriest]

Since when do bitcoins "expire" ?

I had an admin tell me the reason my account isn't upgraded yet is because the bitcoins I sent expired before he could claim them... what?? I have hundreds of transactions across my 2 paypals and both of these are unverified supposedly. Technically one of them should still be considered "verified" because I did indeed have a linked bank, but I recently removed the link. That is a paypal nomenclature issue however and their lack of understanding of what "verified" is supposed to mean, so not blaming you guys for that. There is no such thing as someone going from a verified state to a an unverified state. They use the word "verified" out of simplicity, not sure how well the more accurate description of "we have this customer by the balls due to being able to induce overdraft charges on a whim" would fit on their product.

I am pretty sure whatever happened with the bitcoin transaction is related to a problem of your processor because I sent some coins to another wallet of mine at the same time and those turned up just fine. There was not even a need for me to "claim" them, I just got an email of them being deposited into my coinbase wallet, and they are still sitting there...

- - - Updated - - -

Just got an email from the company I used to process the Bitcoin on my end and they said that there is proof bitpay did receive the coins and in fact already spent them again. If bitpay isn't giving them to you that is between you and bitpay. This was the first I had heard of bitpay, not off to a good start.

 

[EpicNPC]

Bitcoins are processed differently from any other payment on the internet. They require confirmations from bitcoin miners, there is no central processing system that sends and receives bitcoin no matter what wallet you use. A completed transaction requires 4 confirmations from 4 different computers in the bitcoin network.

On average it takes about 10 mins for every 1 confirmation, however the system is not perfect and some bitcoin payments are delayed.

Our system checks for confirmations for one hour, after that we stop checking and assume the payment failed.

However in some cases like yours, the payments are just delayed and eventually get enough confirmations to complete. When this happens it becomes an expired transaction.

The delay on confirmations has nothing to do with our payment system, this is just how bitcoins work.

We have been in communications with you and received an update from our bitcoin processor this morning. The payment was completed and has now been added to our bitcoin account. You will receive the upgrade shortly.

 

[gearedpriest]

Bitcoins are processed differently from any other payment on the internet. They require confirmations from bitcoin miners, there is no central processing system that sends and receives bitcoin no matter what wallet you use. A completed transaction requires 4 confirmations from 4 different computers in the bitcoin network.

On average it takes about 10 mins for every 1 confirmation, however the system is not perfect and some bitcoin payments are delayed.

Our system checks for confirmations for one hour, after that we stop checking and assume the payment failed.

However in some cases like yours, the payments are just delayed and eventually get enough confirmations to complete. When this happens it becomes an expired transaction.

The delay on confirmations has nothing to do with our payment system, this is just how bitcoins work.

We have been in communications with you and received an update from our bitcoin processor this morning. The payment was completed and has now been added to our bitcoin account. You will receive the upgrade shortly.

ok =)