Bitcoin Forum
October 19, 2017, 11:33:17 AM *
News: Latest stable version of Bitcoin Core: 0.15.0.1  [Torrent]. (New!)
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 »  All
  Print  
Author Topic: Satoshis left on exchanges  (Read 2343 times)
BTCBinary
Hero Member
*****
Offline Offline

Activity: 504


View Profile
February 03, 2016, 08:32:55 PM
 #1

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?
1508412797
Hero Member
*
Offline Offline

Posts: 1508412797

View Profile Personal Message (Offline)

Ignore
1508412797
Reply with quote  #2

1508412797
Report to moderator
1508412797
Hero Member
*
Offline Offline

Posts: 1508412797

View Profile Personal Message (Offline)

Ignore
1508412797
Reply with quote  #2

1508412797
Report to moderator
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1508412797
Hero Member
*
Offline Offline

Posts: 1508412797

View Profile Personal Message (Offline)

Ignore
1508412797
Reply with quote  #2

1508412797
Report to moderator
1508412797
Hero Member
*
Offline Offline

Posts: 1508412797

View Profile Personal Message (Offline)

Ignore
1508412797
Reply with quote  #2

1508412797
Report to moderator
BellaBitBit
Hero Member
*****
Offline Offline

Activity: 560


View Profile
February 03, 2016, 08:44:32 PM
 #2

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 love Bitcoin
DimensionZ
Sr. Member
****
Offline Offline

Activity: 350


Shit, did I leave the stove on?


View Profile
February 03, 2016, 09:27:43 PM
 #3

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?

Anddos
Sr. Member
****
Offline Offline

Activity: 378


View Profile
February 03, 2016, 09:37:56 PM
 #4

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.

calkob
Hero Member
*****
Offline Offline

Activity: 686


View Profile
February 03, 2016, 09:40:36 PM
 #5

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........ Grin
BTCBinary
Hero Member
*****
Offline Offline

Activity: 504


View Profile
February 03, 2016, 10:05:22 PM
 #6

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...
virtualdn
Hero Member
*****
Offline Offline

Activity: 700


View Profile
February 03, 2016, 10:57:09 PM
 #7

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 Cheesy

Raimonn
Legendary
*
Offline Offline

Activity: 952


View Profile
February 03, 2016, 11:11:12 PM
 #8

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).
mtnsaa
Hero Member
*****
Offline Offline

Activity: 770


View Profile
February 03, 2016, 11:27:41 PM
 #9

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........ Grin

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.
alani123
Legendary
*
Offline Offline

Activity: 1484


Professional googler


View Profile
February 03, 2016, 11:32:22 PM
 #10

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.














 

 

█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
BitBlender 

 













 















 












 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
█ 
simon66
Sr. Member
****
Offline Offline

Activity: 421


View Profile
February 03, 2016, 11:38:25 PM
 #11

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.
richardsNY
Hero Member
*****
Offline Offline

Activity: 840


View Profile
February 03, 2016, 11:43:53 PM
 #12

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.

NamedUser
Jr. Member
*
Offline Offline

Activity: 48


View Profile
February 03, 2016, 11:46:02 PM
 #13

You could always import the private key into electrum and use the unspent outputs as a fee for another transaction.
7788bitcoin
Hero Member
*****
Offline Offline

Activity: 714


View Profile
February 03, 2016, 11:49:55 PM
 #14

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.
maokoto
Hero Member
*****
Offline Offline

Activity: 742


View Profile WWW
February 04, 2016, 12:44:28 AM
 #15

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?

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.

jerowacik
Hero Member
*****
Offline Offline

Activity: 882



View Profile
February 04, 2016, 12:54:18 AM
 #16

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

The Pharmacist
Hero Member
*****
Offline Offline

Activity: 938


Crypterium- Digital Cryptobank & Credit Platform


View Profile
February 04, 2016, 01:01:55 AM
 #17

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.



░░░░░░░░░░▄▄▄▄▄▄
░░░░░░▄███████████▄
░░░░▄██▀▀░░░░░░░░▀██▄
░░░██▀░░░▄▄▄▄▄▄░░░░▀██
░░██▀░░▄██▀▀▀▀▀░░▄▄
██▀░░██▀░░▄▄▄▄░░▀▀
██▀░░██░░▄██▀▀▀█▄
██░░██░░██▀
██░░▀▀░░██
██░░▄▄░░██
██░░██░░██▄
██▄░░██░░▀██▄▄▄█▀
██▄░░██▄░░▀▀▀▀░░▄▄
░░██▄░░▀██▄▄▄▄▄░░▀▀
░░░██▄░░░▀▀▀▀▀▀░░░░▄██
░░░░▀██▄▄░░░░░░░░▄██▀
░░░░░░▀███████████▀
░░░░░░░░░░▀▀▀▀▀▀


░░░░░░░░░░▄▄▄▄▄▄
░░░░░░▄███████████▄
░░░░▄██▀▀░░░░░░░░▀██▄
░░░██▀░░░▄▄▄▄▄▄░░░░▀██
░░██▀░░▄██▀▀▀▀▀░░▄▄
██▀░░██▀░░▄▄▄▄░░▀▀
██▀░░██░░▄██▀▀▀█▄
██░░██░░██▀
██░░▀▀░░██
██░░▄▄░░██
██░░██░░██▄
██▄░░██░░▀██▄▄▄█▀
██▄░░██▄░░▀▀▀▀░░▄▄
░░██▄░░▀██▄▄▄▄▄░░▀▀
░░░██▄░░░▀▀▀▀▀▀░░░░▄██
░░░░▀██▄▄░░░░░░░░▄██▀
░░░░░░▀███████████▀
░░░░░░░░░░▀▀▀▀▀▀

▀  Twitter
▀  Telegram
▀  Facebook
▀  ANN Thread
▀  Whitepaper
▀  Website
cointinflas
Jr. Member
*
Offline Offline

Activity: 58


View Profile
February 04, 2016, 01:11:16 AM
 #18

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.

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...
franky1
Legendary
*
Offline Offline

Activity: 1834



View Profile
February 04, 2016, 01:31:27 AM
 #19

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?

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 DO NOT TRADE OR ACT AS ESCROW ON THIS FORUM EVER.
Don't take any information given on this forum on face value. Please do your own due diligence & respect what is written here as both opinion & information gleaned from experience. If you wish to seek legal FACTUAL advice, then seek the guidance of a LEGAL specialist.
doubleredrolex
Full Member
***
Offline Offline

Activity: 208

I Believe


View Profile WWW
February 04, 2016, 01:33:17 AM
 #20

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.

BTC                1DfATu4cu9JE1tpKG4swxPw1csSjpr5WDm
DASHpay        XudkdomLGJWRp8ypZ73H4yi2CsV8CGFDNe
Pages: [1] 2 3 »  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!