The deposit Bitcoin address is for ByBit. Of the $4,064.43, there is an unconfirmed transaction for around $2300. The difference would be roughly $1764. My Wallet balance on ByBit is currently zero dollars. Does that mean that I may have another unconfirmed transaction out there, or could ByBit not have posted a deposit to that Bitcoin address at some point?
I checked your address on an explorer and as far as I can see, those unconfirmed transactions are ByBit doing consolidation of their funds, not a pending deposit. If you want to see a pending deposit, look for the incoming transactions or check out your account history. Assuming that address is exclusive for your account, that should be good enough compared to monitoring it and tracking the outgoing transactions. 
Topic: Does this mean I have missing Bitcoin? (Read 102 times)
This address has transacted 35 times on the Bitcoin blockchain. It has received a total of 0.49575316 BTC ($18,819.17) and has sent a total of 0.38868396 BTC ($14,754.74). The current value of this address is 0.10706920 BTC ($4,064.43).
The Bitcoin address is 16HF73ZyEz5r3pVU2SoDHuyMtLzEFQWBAb
The deposit Bitcoin address is for ByBit. Of the $4,064.43, there is an unconfirmed transaction for around $2300.
I don't see any unconfirmed transactions for this address? The Bitcoin address is 16HF73ZyEz5r3pVU2SoDHuyMtLzEFQWBAb
The deposit Bitcoin address is for ByBit. Of the $4,064.43, there is an unconfirmed transaction for around $2300.
Or are you saying that you have an unconfirmed (withdrawal) transaction from your ByBit account? Looking up deposit addresses on an exchange and trying to match it to your account activity (trades/transfers/exchanges + withdrawals) is meaningless. None of the activity (except for deposits and withdrawals) is done onchain, and the coins you put into your deposit address are unlikely to be the coins you get back when you withdraw... and all the trades/transfers/exchanges etc are just numbers in their database and you won't be able to track that by looking at blockchain data.
The difference would be roughly $1764. My Wallet balance on ByBit is currently zero dollars. Does that mean that I may have another unconfirmed transaction out there, or could ByBit not have posted a deposit to that Bitcoin address at some point?
Once you start using your exchange account to trade/transfer/exchange/withdraw, then the balance in your deposit address is in no way indicative of what your account balance could or should be.ByBit, could leave all the money you have ever deposited into that address there for years... or remove it all the second it is deposited... and it would make no difference to your "account" balance.
What you need to do is check to make sure that all your account history within your ByBit account adds up. If all the deposits + trades/transfers/exchanges + withdrawals add up to your current account balance of zero, then it is safe to assume that everything is OK.
However, if you find that deposits + transfers/exchanges + withdrawals do not match your account balance, then you'll need to contact ByBit support and ask them why.
If I deposited $1000 into my ByBit account, it would say my wallet balance is $1000. If I exchanged $500 of the initial deposit to Ether and then sent the remaining $500 in Bitcoin to another wallet, would that cause the Wallet balance to still say $500? Because the Ether didn’t go through the Blockchain? Just thinking out loud.. maybe someone who knows this stuff could chime in, because that might explain the “difference”.
Yes. On your account, it might be $500, as you didn't wiithdraw the $500 in Ether. However, the funds in that deposit address can be 0 still. The deposit address doesn't belong to you; it is just an address that is associated with your account and any deposits would be credited to your ByBit account. Any exchanges within the site is reflected on the backend and in your account. The funds in that address does not matter to you as it is under their control and they can do whatever they want with it; consolidating it or sending it to another address. What is important is that your deposits are all credited correctly, the balance of your deposit address does not necessary matter as the balance on that is often different from your own account on that site.
I've never used this particular exchange... But an exchange provides you with an address controlled by them, not by you... Once you fund this address, you lose controll of your funds, and it's up to the exchange to keep track of you assets.
An exchange basically monitors the deposit addresses it generated for its users. As soon as a transaction funds one of their addresses, they insert the value it was funded with in their internal relational database. When you exchange BTC for, let's say ETH, the exchange just happens in their internal database, not on the blockchain.
If you are certain you funded the correct address, but you cannot find this deposit in your exchange account, it's the exchange that either has a bug or is scamming you. In this case, their support dept is the only one that can help you.
Since this is kinda hard to understand, we'll give a FIAT equivalent:
you have 10x 10€ = 100€ notes, and you go to the bank to deposit them into your account. Once you hand over the notes to the bank teller, your physical money is now in controll of the bank. You could ask the teller in which box he'll put the physical notes, but they no longer belong to you.
Instead, the teller will update the bank's relational database that says you now have 100€ extra on your books.
If you decide to exchange your 100€ in your account to $120, the bank just updates their internal records: your euro account now shows 100€ less, and your dollar account shows $120 more. Note that the physical euro bills are still in the same drawer the teller put them in!
Only when you decide to withdraw the $120, the teller will give you 12x$10 bills (that used to belong to a completely different customer).
If you give the teller 100€ in physical money, but your account shows 50€ (which seems to be the crypto equivalent to your problem), the only way to look is your bank: either the teller made a mistake, he's stealing from you, or the money was fake or stolen. The only one that can tell you why they only credited 50€ is the bank.
An exchange basically monitors the deposit addresses it generated for its users. As soon as a transaction funds one of their addresses, they insert the value it was funded with in their internal relational database. When you exchange BTC for, let's say ETH, the exchange just happens in their internal database, not on the blockchain.
If you are certain you funded the correct address, but you cannot find this deposit in your exchange account, it's the exchange that either has a bug or is scamming you. In this case, their support dept is the only one that can help you.
Since this is kinda hard to understand, we'll give a FIAT equivalent:
you have 10x 10€ = 100€ notes, and you go to the bank to deposit them into your account. Once you hand over the notes to the bank teller, your physical money is now in controll of the bank. You could ask the teller in which box he'll put the physical notes, but they no longer belong to you.
Instead, the teller will update the bank's relational database that says you now have 100€ extra on your books.
If you decide to exchange your 100€ in your account to $120, the bank just updates their internal records: your euro account now shows 100€ less, and your dollar account shows $120 more. Note that the physical euro bills are still in the same drawer the teller put them in!
Only when you decide to withdraw the $120, the teller will give you 12x$10 bills (that used to belong to a completely different customer).
If you give the teller 100€ in physical money, but your account shows 50€ (which seems to be the crypto equivalent to your problem), the only way to look is your bank: either the teller made a mistake, he's stealing from you, or the money was fake or stolen. The only one that can tell you why they only credited 50€ is the bank.
I’m going to check the account and make sure every deposit was credited properly but I just thought of something that possibly could cause there to be a difference? If I deposited $1000 into my ByBit account, it would say my wallet balance is $1000. If I exchanged $500 of the initial deposit to Ether and then sent the remaining $500 in Bitcoin to another wallet, would that cause the Wallet balance to still say $500? Because the Ether didn’t go through the Blockchain? Just thinking out loud.. maybe someone who knows this stuff could chime in, because that might explain the “difference”.
Check your transaction history on the site. Has everything been credited correctly?
The thing with most services is that anything done to the account may not necessarily reflect a transaction to or from your address. For example, if I choose to sell Bitcoins on an exchange, the funds in that address may not be moved immediately but it is regarded as sold on the exchange and that my account balance is now in fiat instead of Bitcoins. The balance on the address is not reflective of your current balance in your account.
The thing with most services is that anything done to the account may not necessarily reflect a transaction to or from your address. For example, if I choose to sell Bitcoins on an exchange, the funds in that address may not be moved immediately but it is regarded as sold on the exchange and that my account balance is now in fiat instead of Bitcoins. The balance on the address is not reflective of your current balance in your account.
This address has transacted 35 times on the Bitcoin blockchain. It has received a total of 0.49575316 BTC ($18,819.17) and has sent a total of 0.38868396 BTC ($14,754.74). The current value of this address is 0.10706920 BTC ($4,064.43).
The Bitcoin address is 16HF73ZyEz5r3pVU2SoDHuyMtLzEFQWBAb
The deposit Bitcoin address is for ByBit. Of the $4,064.43, there is an unconfirmed transaction for around $2300. The difference would be roughly $1764. My Wallet balance on ByBit is currently zero dollars. Does that mean that I may have another unconfirmed transaction out there, or could ByBit not have posted a deposit to that Bitcoin address at some point?
I don’t know all the technical aspects of the Blockchain so I apologize if this may be something simple that im overlooking. Please let me know if it’s nothing, or if I should be looking for a rogue transaction for $1700. Thanks.
The Bitcoin address is 16HF73ZyEz5r3pVU2SoDHuyMtLzEFQWBAb
The deposit Bitcoin address is for ByBit. Of the $4,064.43, there is an unconfirmed transaction for around $2300. The difference would be roughly $1764. My Wallet balance on ByBit is currently zero dollars. Does that mean that I may have another unconfirmed transaction out there, or could ByBit not have posted a deposit to that Bitcoin address at some point?
I don’t know all the technical aspects of the Blockchain so I apologize if this may be something simple that im overlooking. Please let me know if it’s nothing, or if I should be looking for a rogue transaction for $1700. Thanks.
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