Topic: Can bitcoin quantity go down? - page 9. (Read 5450 times)

I have been through their terms and conditions (not exactly a big read) and could not find anything regarding how the bitcoins are treated.

I deposited the bitcoins as bitcoins (straight from my wallet) - a set quantity and have not exchanged it into a dollar amount.

In the 'wallet' (profile page on the exchange), it shows a table showing quantity of bitcoins, and value of the bitcoins based on the current price.

I am waiting to hear back from them for an explanation and will keep you posted. But yes, I will not be depositing any more for the time being until I hear back from them.

seems by what you are saying they are less then ethical.

the only other consideration is:
and instead of say, a deposit of 1btc being recorded on their database as 1btc, they are instead recording it as the dollar value when you deposited.
which means when display that recorded dollar balance as a fluctuating btc value which changes.

this does not seem fair as most exchanges dont do this in practice.
have you read the terms or their policies that allow them to treat you bitcoin deposit automatically as a dollar balance.
did you deposit bitcoin or dollars initially

did you swap your bitcoin for dollar and are accidentally just looking at a "valuation" rather than actual balance.

it might be worth
checking their terms/policies
checking that your seeing a balance/holdings, rather than an valuation
checking when, how your initial deposit suddenly no became no longer treated as equal balance.

it may be simply that you deposited dollars and without trading have been looking at an 'estimated valuation in bitcoin' rather then a log of actual balance, mistakenly thinking they converted it to bitcoin. but actually just giving you an estimate if you traded it.

if however you deposited bitcoin but did not convert it to another currency, and they cannot explain how/where/why they have this 'floating value' feature. then i would say its unethical and scammy. and dont deposit any more with them.

i think that bitcoin  quantity will never  go down because bitcoin is very useful and and everyone using bitcoin for online shopping and many people use bitcoin as investment so bitcoin are going ahead and every company are adopting bitcoin for their own business.

What you're experiencing is exchange specific and does not really have much to do with Bitcoin itself. The exchange can change your balance at any time, although that would make them a scam. Keep in mind that Bitcoins owned on a exchange are not yours, since you don't own the private keys to the addresses.

I think it does not go down. This thing only happens during halving as far as  i know developers will make a halving period in order to minimize the over sized of bitcoin's amount so they decided that during halving  the bitcoin quantity will be divided into half.

Thank you both for your replies. And @franky1, that has taught me a lot!

I am with Bleutrade.

Between yesterday and today, there has been a reduction in bitcoins by 0.00214616 (not much, but it's more the principle).

I have contacted them, and they gave the reply that I originally posted ("the balance varies according to the prices that are floating").

I have been through my transaction history and there have been no changes between yesterday and today.

bitcoin itself has nothing to do with an exchange.

inside an exchange you are not looking at bitcoins. you are looking at a database balance of credits that (ethically) should represent bitcoin.
meaning
the exchange is ALLOWING you to have some balance of their database. which if the exchange is ethical they will swap that balance for real bitcoins when you withdraw.

the exchange can do anything they want to their database. they can charge fee's just for having a balance, they can charge fee's for making orders they can charge fees for deposits and withdrawals. they can so anything they like to their database. including making it zero for any lame reason they want.

this is why people hate middlemen, banks, exchanges. with all the "we been hacked" lies, with all the negative interest rates, with all the bankruptcy issues you should not trust handing your funds to a middleman in exchange for their "credits"/"balance".

as for bitcoin itself. knowing eventually there will be only 21mill coins. you cannot make the quantity go down. you can however put them into an address no one can spend from, to make them unspendable.. resulting in less than 21million coins being spendable/in circulation.

now that answer the topic.
it seems like an exchange is messing you around, care to name the exchange, describe the events better?
have you contacted the exchange?
have you checked the trade history/transaction history within the exchange to see where/why the balance missing had gone?

I have no idea what you're trying to ask nor say here. Bitcoin quantity does not go down, it actually goes up with the process of mining.

---

What exchange are we talking about? Please elaborate your situation more properly.

I have some bitcoins in an exchange and I found today that, without any transactions being made, the quantity has gone down.

I have contacted the exchange who have said:


Is this correct? In my view the quantity of bitcoins I have should not fluctuate, only the value of said coins. Or am I missing something?

Any explanations would be great!