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Author Topic: Bitcoin-Central bitcoin withdrawal pending???  (Read 1229 times)
Motto45
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November 07, 2012, 01:25:08 PM
 #1

I tried to send bitcoins from Bitcoin-Central to my bitcoin wallet.

Normally appearing within seconds to my Bitcoin-wallet, now a transaction has been in status "pending" in Bitcoin-Central for 14+ hours. No info of it is in the block chain either. So I suppose the problem is with Bitcoin-Central. Anyone else with similar experiences? I've tried to contact the support but they haven't replied yet.
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Stephen Gornick
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November 07, 2012, 03:51:35 PM
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a transaction has been in status "pending" in Bitcoin-Central for 14+ hours.

When an exchange or other EWallet provider keeps most coins in cold storage, there is a supply management issue that arises.  This is similar to how bank policies exist so that if you want to withdraw large amounts of cash then you may have to wait a few days for the bank to get a transfer of the cash delivered first.

Just so you know 90% of the bitcoins are in cold storage

I don't know that is what happened in this instance, but that would explain why a delay might occur.

Paymium (who operates Bitcoin-Central) is expanding their exchange and seeing fast growth with Instawallet and their other services.  It is possible they are needing to transfer from cold storage with increasing frequency as their services become more widely used for larger and larger amounts
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November 07, 2012, 04:16:43 PM
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Thank you for taking the time to reply. The transaction is still "pending" and is only for 9.78 BTC. But maybe you're right, just strikes me as odd that there's not much discussion about this.. I'll update about this situation when there hopefully is something to update.
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November 07, 2012, 09:00:28 PM
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The situation was exactly as you suspected. They had momentarily ran out of funds. The coins have moved now.
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