Bitcoin Forum

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

Good question.  If one Satoshi would ever become valuable then people would deeply regret keeping even a few satoshis on an exchange.  There would be no recourse because I am sure there is an agreement made when using the exchanges service that there is a fee. Maybe if exchanges had a pop up, prior to depositing, that there is a withdraw fee because for some you dont know until you have to withdraw.

I don't know why you would care so much about dust anyways if it's less than 1 mbtc it's nothing to worry about. It's like you were at a bar and left the waitress a tip do you care about that money too?

I'm not so sure that it's just small change. All put together it could add up to a pretty nice number. The OP's on to something.

If a satoshi ever becomes worth any thing, i wont be moping about worrying about the few thousand satoshi left in exchanges, besides i'll be to busy spending my millions on yachts, women, and whisky........ ;D

yeah but the thing is... it becomes another way for exchanges to make even more profits out of our money.
Its not jus some satoshis... its millions of satoshis counting with a lot of players...

All these satoshi together can make some nice Bitcoins. Well..if 1 satoshi will value much more one day we will sure miss those left :D

I suppose that if some day bitcoin prices goes too high, the exchanges will lower their fees, and you could take off your satoshis from the exchange paying 10 or 100 satoshis fee (but you will need a bitcoin price very higher than now).

Exactly, who cares, is like saying if you had 1 million BTC back in the day who cares about 1 right now. The way things are going I'm not sure how much will 1 BTC be valued at in the next months really, it appears the downtrend is here to stay.

It'd be nice if exchanges could allow users to export private keys of addresses holding small amounts of coins if they wanted to insert them in a wallet. It'd be the cheapest and most efficient method to them to let users remove small amounts of coins. It'd likely require changes in the infrastructures though, like not using shared addresses and making the address unused/removing its balance from the account after the key is exported.

I have not had a problem with satoshis left on exchanges. There are things you should do BEFORE sending coin to any exchange.

1. Check the wallets at both sending and receiving exchanges o make sure they are working and not in maintenance.

2. If you are sending a shitcoin check the block explorer first to make sure your transaction is possible and get an idea of the confirmation time or blocktime.

3. Check out the minimum withdrawal limits and the minimum trade limits and fees at both sending and receiving exchanges.

I have had troubles arbing without going through the due diligence of these checks first and these things should keep you from getting coin stuck places.

I don't really care about the few Satoshi's that I have left on exchanges. I remember from the time that I was trading altcoins at Bittrex that they were offering a way to null your balance at your approval. If I had the same option at other exchanges, then I would clean them all.

You could always import the private key into electrum and use the unspent outputs as a fee for another transaction.

I don't think the exchanges will share the private keys with you. They hold the keys and you "TRUST" them.

That is a very good poing. I guess that yes, they keep them, which makes the exchange somewhat more profitable. However, user may get some more satoshis and sum them with the ones in the exchange to finally withdraw all.

yes good opinions. instead satoshi missing is the fee payment to the owner of an online wallet? is there a different opinion?

OP, how many satoshis are you talking about, roughly?  I agree with you that it's a great way for exchanges to skim from their customers if they were so inclined, but as of right now the future of bitcoin is uncertain and as of right now any amount of satoshis in the thousands is just dust.  Not worth worrying about.  And there are ways to get it out, like trading altcoins and such.  It's not like you can never recover those satoshis.

If the remainings are smaller than the fees, why bother? I don't understand this discussion. Fees are the price to pay for the confort of having an exchange at one's disposal...

usually you would swap the bitcoin satoshi's for litecoin or ripple and then withdraw them. and then combine them into one exchange to convert back to bitcoin to a worthy amount to withdraw as bitcoin

I don't leave dust on exchanges. I just withdraw it all or invest it all. Im not too concerned about 2 or 3 cents worth. The only place i have any tiny amounts sometimes are on my BTC debit card site.

I have a question! ???

you'll never come back to that exchange again? If you again use that exchange, than probably you didn't lost those satoshis.

If Satoshi's becomes more valuable the fees will be lower than what it is now and you would be able to withdraw it. I hope that makes sense? Let's say you have 30 000 Satoshi in the exchange and the current price for that is US 0,1119 cents and the fee to withdraw it is a minimum of $1, then you would be unable to withdraw it.

Let's say in the future that same Satoshi is valued at US $5, and the fees are still $1 to withdraw, then you would be able to withdraw much more of those Satoshi's. ^smile^

Don't the fees depend on the TX and are not correlated to the price of Bitcoin at that given moment? I would guess the fees increase exponentially with the bitcoin difficulty to mine it.

If the time it takes to return the satoshis is not worth the reward to do it it wont happen.  I should imagine many people are the same as you i know i have everal exchanges with small amounts on which i likely will just leave forever.

Same story was with some pools for mining.
My satoshis are still there..And many others parts of LTC DOGE..
Probably they collect them at the end when decide to stop their services.. >:(
 example***http://pool.itzod.ru/

They would need thousands of forgotten satoshi balances for it to even make any difference... I don't see any reason to worry about this.

I have never Satoshi's left on an exchange because when I withdraw my coins, I withdraw my entire balance. It's very simple, isn't it?

I dont think the site must responsible, because it is not the site that scam your money, it just the fee that you need to pay in order to used the exchanger site, even when you want to buy bitcoin, there is also a limit of the minimum

so i think just let it go

I have a few around the place not amounting to anything so am just happy to leave them there.

An idea for the exchanges could be to put a time limit on the dust in peoples accounts and have the user opt in, then after a given time, perhaps 1 year or 2 year the dust goes into a faucet on the site, at least then it will come back to the community rather then the exchanges.

same condition but i still use that exchange site so why worry about satoshis that you  you are going to use later.
different condition if i not gonna the exchange service anymore i withdraw all my money from the site

I have lost count of how many satoshis I've left behind in lost wallets (online or not) and exchanges. Not to mention Mt. Gox  :-\ :'(

for me try to withdraw all satoshi in there including the fee so its mean we got no more left..isnt like that?correct me if im wrong..

The fees is depends on the exchange itself, I'm not really sure if the site who just take more fees than other must responsible for it, because you need to read first their agreement. Anyway they not scammed you right, so I think I'm disagree with OP means.
And the important thing is don't store your assets on exchange, use cold wallet for saving it.

The exchanges are running businesses for profit, not charities. They tell you that they charge you fees for trades and withdrawals when you register. Those fees add up to more than their minimum withdrawal limits. I'm happy to let them have a tiny bit of dust. It's only worth a few cents at most, and you could quickly and easily buy or earn it if you want to replace it.

There's so many important things to worry about, to wast time discussing lost satoshis... this discussion will only make any sense once satoshis are worth a few cents of dollars

I have One btc e account lock on IP address.
I just tried to explore all those security precautions, but soon i have realized after accident electricity failure , I've lost possibility to log on to my account.
Thank god i have only around 0.04btc there..

Good one, never thought about the satoshis left in each walet, collectively they sure are worthy enough and the exchanges are getting them for free.

BEFORE the 2013 inception of blockstream, tx fee's were tagged roughly against the fiat value.. basically when bitcoins fiat price rose to cause the tx fee minimum to be more than 1cent. the decimal was moved down so that the tx fee remained below 1 cent.

but now the corporate shell has done away with that standard and although miners do not need tx fee's as a income stream for atleast 20 years, the corporate shell are giving into greedy and ignoring the communities desire for something better than corporate greed.

so while blockstream hold the keys. dont expect fee's for normal bitcoin transactions to be less than 1cent ever again. you have more chance of getting your satoshi out by converting them into altcoins

For a moment, I thought you said Satoshi Nakamoto left an exchange website. :-[

Anyway, I always had a few hundred satoshis left on exchange website because I cannot withdraw them (insufficient fund to cover the fees). It is dusts though, but I'd love to withdraw them if possible.
Well, if I want to withdraw those satoshis, I'll do it another time when I want to withdraw my coins from the exchange website.

I wonder what will happen if you close the account... would it not refund you to a withdrawal address? I had some Satoshi's tied up in some of these

cloud mining websites, but it quickly evaporated when the service fee's caught up with me. I also have some Satoshi's in wallet providers, when I tested

it and I forgot my password and the answer to the security questions. Just write them off... the service provider will sweep them up eventually.  ::)

If you want to get the BTC-dust out of an exchange, you could transfer a (slightly) larger amount to the exchange so the total amount becomes transferable, then withdraw all of it. The downside of this is you'll pay more fees than the amount you want to 'rescue' is worth.

I've left a few thousand vague altcoins on Cryptsy that might be worth several cents. Maybe even less, as those were utterly failed altcoins.

I just don't bother with those, those are small amounts.
Maybe if one day in next 20 years from now, if price rocket ...I will be sorry!
     Who can tell?
I'm much more concerned for the future of certain exchanges, and my money there! ;D

Not really,I'm answering the question in regards to a situation where the transaction fees are paid by the exchanges or they're considerably low.If the transaction is completed with few satoshi's left,you can always initiate new transactions with addition of the fees and redeem those or atleast use it for as the service fees.Speaking of satoshi's ,there are lot of faucets which have minimum limits on payouts like 50,000 satoshi's.There are people who make it till 30,000 sats and the either stop with the faucet or just forget about it.I'm not saying everybody but few of them ,which makes a bigger loss and giving website the profits  and this seems like a bigger picture we should be caring about.

I do not think that exchanges have high bitcoin withdraw fees at all, these fees are paid in the transaction fees so they do not take it for themselves.
If you have less than .0002 in an exchnage and you want to withdraw this small amount, buy an altcoin that has a small withdraw fees then you will get your cents

Just search and see how many transactions are made every second. And then just imagine that just 1000 satoshi are lost with each of one. If I'd be able to gain 1000 satoshi every second I'd be more than happy.

Since your argument revolves around the dust, which is worth less than the transaction fee, currently around 0.0001 BTC or about 4 cents, let me ask you if you would pick up 4 cents laying on the ground in a parking lot.

You know the pennies laying under a empty beer bottle in a corner covered in soot, dirt, vomit, possibly urine or feces.

If so, than you would be better off picking up the 4 cents, investing them into bitcoin, than worrying about the dust left on exchanges. If BTC is ever worth $10,000/btc, your 4 cent investment you are fretting over would only be worth about $1.

If one bitcoin is worth $1,000,000 someday, and you have 1,000 satoshis lying around in a bunch of different accounts in multiple exchanges, you will have lost $10.

It took five years to get from $1 to it's current $ 415 - by the time BTC gets to $ 1M - $10 won't buy you the wrapper on chewing gum.

It's not worth trying to take out every single satoshi you have lying around at every exchange you have an account at because you will pay more in fees than what the dust amounts to most of the time. If they pay the transaction fees themselves then you have a chance to withdraw everything to the last drop  ;) But to be honest I sometimes don't even pick up the small change in real life because I don't like to have a lot of small coins jingling in my pockets.

A few satoshi left in exchange is not yours anymore. Many exchange has limits on order size, you can not exchange them to anything meaningful. As you said, you will not transfer them out. In the end, they are not yours any more.

Thats not true. It can be made yours by adding up some bitcoins to the wallet and withdraw completely without leaving some satoshi in the wallet.

no,exchange have no responsibilty about satoshi left on your account because exchange have own fee,the only one to witdraw your coins is pay that fee,and so far exchange have big fee for witdrawing,just poloniex consistent with small fee,about 0.0001 for bitcoin.

The exchanges haven't kept your satoshis. They're waiting for you to add more and then you can withdraw them. It's the protocol's fault that it costs so much to move them.

I`m not sure if you are a bitcoin classic shill :D

What do you mean fees are too big? Does 4 cent /transaction is too big for ya?

Then abandon bitcoin and go to your bank, they will charge you 2% + 10 $.

It simply isn't worth it. The dust amount would be less than the fees. If one were to deposit, they would gain nothing since the fees (0.0001BTC) would be deducted from the dust.

---

Since the amount is dust, the exchange cannot send them to a specific address since it would not fit the dust threshold set by nodes to relay transactions. The amount would be rather miniscule. There is very little use for most users.

you're so funny,its not exchange problem,its your problem,exchange have fee standard,and its must be follow by all exchange user,i just suggest you to sell that satoshi to altcoin,and then witdraw it,some exchange have little fee for other altcoin,dont witdraw on satoshi.