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Author Topic: Deposit with former Tradehill lost?  (Read 420 times)
GabrielZ (OP)
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April 06, 2013, 02:38:07 PM
 #1

In 2011, I had deposited some money with Tradehill.
As far as I can tell, they did not refund it when they shut down.
(I have checked my bank statements.)

So my question is: do I still own the bitcoins they bought for me? or are they lost?

Best regards,
Gabriel.
Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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clanie
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April 06, 2013, 02:56:53 PM
 #2

Must be lost, I'm afraid  Sad
GabrielZ (OP)
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April 06, 2013, 04:30:22 PM
 #3

So, I have another question - it seems like I don't understand exactly how bitcoins are stored.

I thought, once a bit coin has been created, it can never be destroyed, because it is stored in a peer-to-peer-like network.

Is that wrong?
optimator
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April 06, 2013, 04:36:58 PM
 #4

So, I have another question - it seems like I don't understand exactly how bitcoins are stored.

I thought, once a bit coin has been created, it can never be destroyed, because it is stored in a peer-to-peer-like network.

Is that wrong?


You are correct. The blockchain (the peer-to-peer network) stores a public address. If you know the public address (we say bitcoin address) you could look on the blockchain and see your funds. However, to spend those funds you need a private key that is associated with the bitcoin address.


GabrielZ (OP)
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April 06, 2013, 07:16:12 PM
 #5

Thanks for sharing the insights!

So I'm facing 2 problems:
1. I don't know the public address of my bitcoins;
2. I don't have a private key - or do I?

optimator
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April 06, 2013, 11:23:01 PM
 #6

Thanks for sharing the insights!

So I'm facing 2 problems:
1. I don't know the public address of my bitcoins;
2. I don't have a private key - or do I?



If you don't know #1 it's doubtful you have #2....

Give TradeHill a call and ask. They seem to have a nice web site.

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