Coinjar trading status and coins failure to send. - page 3.

CoinClippers

newbie

Activity: 9

Merit: 0

Quote from: Inspire on February 16, 2014, 06:19:25 AM

IT looks like your coinjar wallet is not your wallet but coinjar's wallet. This must be the same as sending money into their bank account and tagging the transfer with your reference number. The money balance is not your personal balance, just a balance thats shared with everybody.

That is kind of dangerous.
eg if they screw up somewhere and need money, they can technically take it from the coinjar money/btc and put everybody in a queing system.
ie Fractional Reserve Bitcoin Exchange System.

This is why I withdraw my coins immediately upon purchase. You would be crazy to hold coins on CoinJar.

theratman

newbie

Activity: 11

Merit: 0

Hi yeh i sent coins back in last time i sent out was a few weeks ago. Here is there twitter

https://twitter.com/GetCoinJar

HairyMaclairy

legendary

Activity: 1414

Merit: 2174

Degenerate bull hatter & Bitcoin monotheist

Quote from: theratman on February 16, 2014, 03:26:53 PM

Mine just came through all good.

Ratman based on your prior post I think you are sending coins *in*. Have you tried getting coins *out*?

Contact details below:

CoinJar Pty Ltd

Level 1, 41 Stewart Street
Richmond, VIC 3121
Australia
+61 3 8518 4868

[email protected]

ABN 43 163 543 824

Does someone in Melbourne want to drop by this morning and see if they still exist?

theratman

newbie

Activity: 11

Merit: 0

Mine just came through all good.

Inspire

newbie

Activity: 24

Merit: 0

IT looks like your coinjar wallet is not your wallet but coinjar's wallet. This must be the same as sending money into their bank account and tagging the transfer with your reference number. The money balance is not your personal balance, just a balance thats shared with everybody.

That is kind of dangerous.
eg if they screw up somewhere and need money, they can technically take it from the coinjar money/btc and put everybody in a queing system.
ie Fractional Reserve Bitcoin Exchange System.

theratman

newbie

Activity: 11

Merit: 0

Have the same thing sent to coinjar wallet tons of confirms in blockchain and has been spent and sent out of the deposit address i sent to but not in coinjar so not sure whats going on, i didnt send from BTC wallet fwiw.

mattd83

newbie

Activity: 36

Merit: 0

I sent 0.25BTC yesterday and nothing showed up in my coinjar wallet, it has been listed as spent on the blockchain now, but only today.

I did notice something a little strange when I tried to open the BTC Wallet that it wouldn't sync past 2 days ago until I upgraded the client.

Could be a bit of a coincidence?

Regards,

Matt

sydneysider

newbie

Activity: 1

Merit: 0

I tried sending several test transactions to and from my coinjar wallet - but only half got through. I read on their discussion blog that they ran out of bitcoin and that was delaying purchases. However one of my transactions for AUD$14 was recorded on the blockchain but did not get to my coinjar wallet. Another for AUD$7 was sent to another wallet I have elsewhere and it didn't arrive although it shows in coinjar as having been sent.

They are having troubles this weekend. Lets see what happens next week.

HairyMaclairy

legendary

Activity: 1414

Merit: 2174

Degenerate bull hatter & Bitcoin monotheist

Good detective work. I have just successfully sent 0.00012 btc.

Worked as per normal. So there is nothing wrong with the system but there are only Satoshi left in the hot wallet.

HairyMaclairy

legendary

Activity: 1414

Merit: 2174

Degenerate bull hatter & Bitcoin monotheist

I tried 0.01 two hours ago and it failed. Maybe there are only satoshis left in the hot wallet?

smithytzu

member

Activity: 72

Merit: 10

Quote from: smithytzu on February 16, 2014, 02:54:36 AM

Yeah I stand corrected, I just did a test transaction and was able to get the transaction through, there's clearly some issues going on but the system is somewhat functional at the moment.

I will add however I only did a .00001 BTC transaction, haven't tested anything bigger

smithytzu

member

Activity: 72

Merit: 10

Yeah I stand corrected, I just did a test transaction and was able to get the transaction through, there's clearly some issues going on but the system is somewhat functional at the moment.

Inspire

newbie

Activity: 24

Merit: 0

Yeh I get edgy sometimes when things are wrong. Their system is pretty solid though. I tested their system - sent money in/out of my account, and sent btc out of my account. They seem pretty solid. Their Support is only Week days and in business hours - which is a pity since this is a 24/7 thing.

If you only sent 4 hrs after me, and not have it sent to you yet, that must mean they dont allocate btc to each account. We must all share the same hotwallet - and they must have ran out of btc. That is not a good sign.

Support should be back tomorrow, please give us all an update on your transaction as I want to keep an eye on their response.

Inspire

newbie

Activity: 24

Merit: 0

Quote from: smithytzu on February 16, 2014, 02:00:41 AM

Upon further investigation, I think it looks like they need to heavily do a re-design of their wallet system, it seems to rely on txtid...

From what I noticed when I did my withdrawal, their txid was blank. So I dont think they use this in their system.
When I did a withdrawal, they marked it as completed instantly, but the btc didnt hit my wallet for another 5 mins or so.

I do believe they use another system to keep track of the transactions.

HairyMaclairy

legendary

Activity: 1414

Merit: 2174

Degenerate bull hatter & Bitcoin monotheist

I sent mine 4 hours later and system says confirmed but still not on blockchain. Sounds like you got lucky.

Inspire

newbie

Activity: 24

Merit: 0

I sent my coinjar wallet to my wallet fine. This was Friday Feb 14 12:56 PM. Coinjar says confirmed on their system, but there was a lag of going into my wallet (5mins).

smithytzu

member

Activity: 72

Merit: 10

Upon further investigation, I think it looks like they need to heavily do a re-design of their wallet system, it seems to rely on txtid which as most are aware has come under attack recently. If the txtid is the primary identifier in their db for transactions, it could be causing all kinds of problems and require a software re-write.

I suspect this is what has happened, they really need to be more open about what's going on because if this is the case, it could take at least a week to write some functional code, maybe another couple of weeks-a month to get the code perfect.

smithytzu

member

Activity: 72

Merit: 10

Only one more thing to add, this line they always pull "This appears to be affecting less than 5% of CoinJar’s outgoing bitcoin payments." really pisses me off, 100% of your users can't use your service, it's clearly not 5% they say the same thing with deposits/withdrawals, they keep using this 5% line saying whenever you have a problem with their service you are in the minority, it's your problem, everyone else loves coinjar and has no problems, it's never a good sign when a business is openly dishonest to their customers.

smithytzu

member

Activity: 72

Merit: 10

Their site is timing out whenever you try to make a btc transaction.

As others have said, being the weekend is no excuse to not provide updates on service status, this is a service that people use (and they profit from) 24/7 not 9-5 Mon-Friday.

I can understand support tickets not being fully addressed over the weekend, but service availability and ensuring you have a functional system isn't exclusive to Monday-Friday.

Lets hope this is just incompetence and not fraud in the making.

HairyMaclairy

legendary

Activity: 1414

Merit: 2174

Degenerate bull hatter & Bitcoin monotheist

Quote from: CoinClippers on February 15, 2014, 11:38:25 PM

It's Sunday afternoon (3:30pm) here in Australia and I believe CoinJar do not provide customer service outside of business hours.

I hope it is as simple as that. But I just sent another transaction 4 blocks ago to test and it is showing as "sent" from the Coinjar end but does not yet appear on the blockchain.

You cannot walk away from an exchange with a broken / empty hot wallet and remain publicly silent just because it is the weekend.

Topic: Coinjar trading status and coins failure to send. - page 3. (Read 4307 times)