Help me understand this bitcoin thing please

[NeuroticFish]

i think that’s already been figured out for the most part. I just need to know why it’s taking so long for my money to transfer I think. Is it because there’s so many transactions out there or is my amount to small or what? Is this happening to everyone?

If you'd post the transaction ID (tx id) we could look it out and tell more exactly. But usually it's a problem with the transaction fee.
You have to pay in order to have the network confirm your transfer. When you've sent the Bitcoin from one service to another you paid a withdrawal fee of which they pay for you the tx fee to the network.
If that fee is not great, it can take hours or even days to see it confirmed. (In some bad cases it doesn't even get confirmed, but I think that's not the case for you.)

Edit: just to make it clear, this happens lately because of the congestion of the network; I personally believe it's a spam attack against Bitcoin; the devs already deployed half of the solution for this (SegWit), the rest will be deployed in a near (hopefully) future (LN).

[Deerfarmer]

i think that’s already been figured out for the most part. I just need to know why it’s taking so long for my money to transfer I think. Is it because there’s so many transactions out there or is my amount to small or what? Is this happening to everyone?

If you'd post the transaction ID (tx id) we could look it out and tell more exactly. But usually it's a problem with the transaction fee.
You have to pay in order to have the network confirm your transfer. When you've sent the Bitcoin from one service to another you paid a withdrawal fee of which they pay for you the tx fee to the network.
If that fee is not great, it can take hours or even days to see it confirmed. (In some bad cases it doesn't even get confirmed, but I think that's not the case for you.)

Edit: just to make it clear, this happens lately because of the congestion of the network; I personally believe it's a spam attack against Bitcoin; the devs already deployed half of the solution for this (SegWit), the rest will be deployed in a near (hopefully) future (LN).

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

[NeuroticFish]

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

I don't know what e-mail you've got.
Make tickets on the services you've been using, ask them what is going on.
And if they blame Bitcoin network tell them that they should put together more transactions to optimize fees.

You can also ask in the services' threads for help, although ticket use to be the best and most personalized way.

[Deerfarmer]

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

I don't know what e-mail you've got.
Make tickets on the services you've been using, ask them what is going on.
And if they blame Bitcoin network tell them that they should put together more transactions to optimize fees.

You can also ask in the services' threads for help, although ticket use to be the best and most personalized way.

its from Coinbase saying I purchased x amount of dollars for ETH has started. Your funds will be available December21st 2017. Then there’s a reference code and my form of payment are used to withdraw money to the account. It tells me what price I purchased the ETH at and what the ETH is worth at that price I purchased

[nizamcc]

Hi sorry for this question but I can’t wrap my head around this. I found out about bitcoin about a year ago but just started looking into it again. After watching videos and reading all day I finally came across this forum so maybe someone could point me in the right direction. I don’t understand how any of this really works.

Bitcoin is a speculative virtual cryptocurrency that works based on the demands of people as well as its limited supply of 21 million coins makes it special when it comes to its features like sending your money immediately to anyone in the world in a matter of seconds by paying least fees* and getting your transactions confirmed quickly.

* - Used to be lower, but now fees are higher because miners mostly accept high-fee transactions.

 

What I don’t get is when you put money in your account what or how do you do with it. Do you buy coins from other ppl that want to cash out.  That doesn’t make any sents to me. Idk I don’t get it.

You send your money to a Bitcoin seller and receive them in return, whether it's from an exchange or a trader himself. Yes, you buy what others are willing to sell, that's how it works. Whether general public or miners, if no one would sell, what would you buy? What doesn't make any sense to you here?

So far today all it got was IOTA was or is going to be as big as bitcoin, I set up an account at Coinbase,and one at Binance and I’m waiting for my account to be confirmed. When I understand this is there a minimum amount of money I have to put in. I don’t think there is but thought I’d ask. Thanks for taking the time to help me.

IOTA is an altcoin (alternative cryptocurrency) just like Bitcoin and it's not just IOTA alone for which you saw such words being said, but many are there in the competition trying to beat Bitcoin, which is not going to happen soon. There's no minimum when you want to buy, but currently the fees are so big you need to think of buying an amount which will at least get you some better profits to deal with the fee you will incur in your transaction. Try to buy not less than 0.01 BTC nowadays.

[gotminer]

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

I don't know what e-mail you've got.
Make tickets on the services you've been using, ask them what is going on.
And if they blame Bitcoin network tell them that they should put together more transactions to optimize fees.

You can also ask in the services' threads for help, although ticket use to be the best and most personalized way.

its from Coinbase saying I purchased x amount of dollars for ETH has started. Your funds will be available December21st 2017. Then there’s a reference code and my form of payment are used to withdraw money to the account. It tells me what price I purchased the ETH at and what the ETH is worth at that price I purchased

When did you do this?  A bank transfer from a US bank to Coinbase takes 2-4 business days.  From my own personal experience, it usually takes 4-5 business days.  It's free, but it's not instant.

[xGeraValerax]

Hi sorry for this question but I can’t wrap my head around this. I found out about bitcoin about a year ago but just started looking into it again. After watching videos and reading all day I finally came across this forum so maybe someone could point me in the right direction. I don’t understand how any of this really works. What I don’t get is when you put money in your account what or how do you do with it. Do you buy coins from other ppl that want to cash out.  That doesn’t make any sents to me. Idk I don’t get it. So far today all it got was IOTA was or is going to be as big as bitcoin, I set up an account at Coinbase,and one at Binance and I’m waiting for my account to be confirmed. When I understand this is there a minimum amount of money I have to put in. I don’t think there is but thought I’d ask. Thanks for taking the time to help me.

I'm just like you, I hope we will be helped to understand this issue

[Deerfarmer]

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

I don't know what e-mail you've got.
Make tickets on the services you've been using, ask them what is going on.
And if they blame Bitcoin network tell them that they should put together more transactions to optimize fees.

You can also ask in the services' threads for help, although ticket use to be the best and most personalized way.

its from Coinbase saying I purchased x amount of dollars for ETH has started. Your funds will be available December21st 2017. Then there’s a reference code and my form of payment are used to withdraw money to the account. It tells me what price I purchased the ETH at and what the ETH is worth at that price I purchased

When did you do this?  A bank transfer from a US bank to Coinbase takes 2-4 business days.  From my own personal experience, it usually takes 4-5 business days.  It's free, but it's not instant.

The first transaction was dec 16th. And the second one was on dec 13th which I bought ETH

[gotminer]

I don’t see a tx id?? Is it in the email I received? I see a reference code. I see it says funds will be avalible December 21. Wtf

I don't know what e-mail you've got.
Make tickets on the services you've been using, ask them what is going on.
And if they blame Bitcoin network tell them that they should put together more transactions to optimize fees.

You can also ask in the services' threads for help, although ticket use to be the best and most personalized way.

its from Coinbase saying I purchased x amount of dollars for ETH has started. Your funds will be available December21st 2017. Then there’s a reference code and my form of payment are used to withdraw money to the account. It tells me what price I purchased the ETH at and what the ETH is worth at that price I purchased

When did you do this?  A bank transfer from a US bank to Coinbase takes 2-4 business days.  From my own personal experience, it usually takes 4-5 business days.  It's free, but it's not instant.

The first transaction was dec 16th. And the second one was on dec 13th which I bought ETH

That is not possible.  The first transaction had to have been December 13, because 12/13/2017 is before 12/16/2017.  Count the number of business days from the 13th until now.  That's like three business days.  You have not given it enough time.  Your transaction from the 16th should show up by the 21st or 22nd.

[Luckyji]

Bitcoin is a cryptocurrency and worldwide payment system. It is the first decentralized digital currency. Its conception is peer-to-peer and transactions take place between users directly, without an intermediary