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Author Topic: Lots of issues sending bitcoin from Local Bitcoins  (Read 136 times)
appletango
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January 21, 2018, 07:07:02 PM
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Hi, I'm hoping someone can help.

I bought 0.00232064 BTC from Local Bitcoins yesterday. I then sent the full amount to Bitcoin Blender, however only half has been deposited for some reason. Does anyone know why?

Thanks


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Even in the event that an attacker gains more than 50% of the network's computational power, only transactions sent by the attacker could be reversed or double-spent. The network would not be destroyed.
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TryNinja
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January 21, 2018, 09:04:36 PM
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Maybe (probably) because of the transaction fees? Can you post the transaction ID here?

P.s: 0.0023 is way to low if you want to use a mixer. You will need to pay a fee to take the coins from Localbitcoins and most mixers will charge a fee that will eat almost half of the transaction, then, you will still need to pay a third fee to move the mixed coins from your wallet to the final address. You will end up with almost anything (or nothing at all).

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January 21, 2018, 09:27:24 PM
 #3

Hi, I'm hoping someone can help.

I bought 0.00232064 BTC from Local Bitcoins yesterday. I then sent the full amount to Bitcoin Blender, however only half has been deposited for some reason. Does anyone know why?

Thanks



Yes, i think that is because of transaction fees,
Before you buy bitcoin in localvitcoin and you will send to an exchange you need to consider the transaction fee because time to time they change the percentage of fee for every transaction, also your amount transacted is very small and almost half will be the transaction fee.
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January 21, 2018, 09:44:41 PM
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Maybe (probably) because of the transaction fees? Can you post the transaction ID here?

P.s: 0.0023 is way to low if you want to use a mixer. You will need to pay a fee to take the coins from Localbitcoins and most mixers will charge a fee that will eat almost half of the transaction, then, you will still need to pay a third fee to move the mixed coins from your wallet to the final address. You will end up with almost anything (or nothing at all).
That's right, Miner transactions fees are high nowadays, Usually in some wallets the transaction fees are between 0.001-0.002 BTC, I don't talk about blockchain here, I talk about wallets which no one can control the fees there like xapo. As you said the amount of 0.0023 btc is too low compared to the miner fees, so normally, he has recieved the half of the amount caused by fees.

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January 22, 2018, 06:38:55 AM
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Doesn't make sense. The withdrawal fee for Localbitcoins is actually flat and quite low (they charge higher fees for deposits actually, since maybe July last year, about 3x the withdrawal fee), and yesterday was less than 30k sats. Fee adjusts to the network congestion and right now it's just above 102k, the lowest for over a month I think. Right now the withdrawal fee is only 23k sats.

Check your Transactions history: look at yesterday's withdrawal and the fee charges, what do you see?

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January 22, 2018, 06:40:04 AM
 #6

I did not faced this type of issue and infact I consider it as a better option if you want to transfer some btc in smaller qty and want it to transfer it quickly. Mine got confirmed in very quick time and their fees are variable unlike the binance which has a fixed fees for btc which is 0.001. Blockchain is getting nowdays out of question due to heavy fees charged by them.

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January 22, 2018, 01:52:03 PM
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I don't think it makes sense. Withdrawal fees for Localbitcoins are actually flat and fairly low. but miners got confirmed in a very quick time and cost they are variables such as binance which has a fixed cost for BTC 0.001. Blockchain increasingly nowdays out of the question because of heavy charges imposed by them. If like I said could have been the case. But if the problem of delivery of local bitcoin Bitcoins pending in respect of several minutes may just be agan.

appletango
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January 22, 2018, 05:59:13 PM
 #8

Thanks for everyones input.

Local Bitcoins fee tends to be around £1.50-£2.00 for the small amounts I buy.

I've made so many small'ish transactions on Local Bitcoins recently that I'm getting a little confused to which one I had an issue with (sorry).

Most likely I'm just losing a lot in fees like people have mentioned. I presume there's no way around this, i.e. there are no mixers that charge a 0% fee? And it's risky not using a mixer?
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January 22, 2018, 06:22:43 PM
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I presume there's no way around this, i.e. there are no mixers that charge a 0% fee?
Mixers tend to charge a flat percentage fee, but there may be an additional charge for them to send your money back to you due to BTC transaction fees.  There's also the fee of sending to the mixer as well, but from LocalBitcoins I think that should be relatively low.

One potential solution is to use Chipmixer, since there is no fee and you receive the private keys to your coins (so you can decide to set a low fee when sending your coins elsewhere).
And it's risky not using a mixer?
Depends how much you value your privacy. 

It's possible that an entity would be able to attempt blockchain analysis to link together different addresses and wallets that you own, but it's not likely unless you either have a large amount of money; are buying something illegal; or someone has a personal vendetta against you.
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January 22, 2018, 06:38:54 PM
 #10

Most likely I'm just losing a lot in fees like people have mentioned. I presume there's no way around this, i.e. there are no mixers that charge a 0% fee? And it's risky not using a mixer?
The mixer in my signature doesn't charge a fee (all amounts are rounded down to whole mBTC though), and your transaction is under the minimum to withdraw.

I don't really see a reason to mix $25. Are you really trying to hide your trail, or is it just some sort of habit?

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January 22, 2018, 06:44:00 PM
 #11

Hi, I'm hoping someone can help.

I bought 0.00232064 BTC from Local Bitcoins yesterday. I then sent the full amount to Bitcoin Blender, however only half has been deposited for some reason. Does anyone know why?

Thanks




Probably TX fees mixed with the fact that it's a blender (Additional fees), so that's why only a certain amount probably showed up

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appletango
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January 24, 2018, 06:20:06 PM
 #12

Anyone have experience with ChipMixer?

I think I've gone and done it again - deposited a too small amount of BTC.

I can't figure out how to withdraw it to Electrum. I have a voucher code. I've read the minimum deposit is 0.001, although I deposited more than that (about double).
Stedsm
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January 24, 2018, 06:36:20 PM
 #13

Anyone have experience with ChipMixer?

I think I've gone and done it again - deposited a too small amount of BTC.

I can't figure out how to withdraw it to Electrum. I have a voucher code. I've read the minimum deposit is 0.001, although I deposited more than that (about double).


https://chipmixer.com/session/restore/YOURVOUCHERCODE
Replace "YOURVOUCHERCODE" with the voucher you have, then you will be taken to Step 2 - Mix.
Click on "Withdraw All
Takes all unspent chips, gives private keys (visible at step 3)"
Then, go to Step 3 and after that, click on "Import to Electrum".
You need to import the private key that they give you to your Electrum wallet to see the coins in your wallet.
"Electrum
Click on File, New/Restore, Standard wallet, Use public or private keys and paste following list of private keys.
"

You may use Sweep option too if you're not concerned about privacy issues.

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January 24, 2018, 07:07:21 PM
 #14

I can't figure out how to withdraw it to Electrum. I have a voucher code. I've read the minimum deposit is 0.001, although I deposited more than that (about double).
The minimum to withdraw from ChipMixer is 0.004 now:
3. We are increasing minimal deposit amount from 0.001 BTC (1 mBTC) to 0.004 BTC (4 mBTC) and blocking withdrawal of 1 and 2 mBTC chips.
This requires longer explaination. Current mining fees are almost 1 mBTC and sweeping smallest chip result in getting almost nothing. This results in situations like this:
https://www.blocktrail.com/BTC/tx/5151e688f5ad2410cf92dc142dfc114d3a4ff4090f14082ffa0a33dc967a46ec
This is an example of burning 33 mBTC to receive almost 8 mBTC.

What will happen if somebody deposits 3 mBTC? They will receive chips that can be split/merge/bet/donate but not withdraw. They can be exchanged for voucher to be used with another session.
What will happen if somebody deposits 5 mBTC? They will receive 4 mBTC chip that can be withdrawn and 1 mBTC chip that can be exchanged for voucher.

Hopefully it will lower the wasteful sweep transactions.
Keep your voucher code, you can use it together with your next deposit to withdraw 0.004BTC.

appletango
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January 24, 2018, 07:50:52 PM
 #15

Thank you
jona
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January 25, 2018, 09:44:55 AM
 #16

Such issues are due to transactions fee,you may need to give attention to the fees,sometimes congestion of transaction could also be the problem.

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January 26, 2018, 10:12:55 AM
 #17

If I recall correctly, Localbitcoins transaction fee (uniform for everyone) is exactly 0.001BTC. Hence since you were starting with such a small balance (~0.002), roughly half was used for the transaction fee, leaving you with just over 0.001 remaining. This is one of the issues when using a site that doesn't allow you to set your own fee. I would recommend using a different wallet from now on, Electrum for instance allows you to set whatever fee you want (if enabled in options), however for such a low value transaction it is unlikely you'll be able to reliably use a much lower fee unless using a segwit address (also available in electrum).

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