i just transferred out some coin today and it cost me .004. adjusted for the $700 current value of bitcoin, that comes out to 28 cents to make the transfer. while it may not be THAT much, doesn't that seem a bit much?
how could have the fees doubled since the OP in october, when the value of BTC was probably around $130?
Topic: localbitcoins 0.0002 BTC withdrawal fees >.< (Read 2546 times)
I'm saying the paradigm of storing bitcoins at private keys you don't exclusively control (so they can be stolen, with zero replacement insurance) itself is nonsensical shit, especially on a site called LOCAL, not Remote... Bitcoins.com.
Yes but aren't most sites are using that offchain system ? like mtgox,coinbase,inputs and many others.
Also you don't need to store your all bitcoins there, just the bitcoins you want to sell and if you are buying bitcoins you should withdraw them immediately after getting from seller.
PS: sorry for errors i'm on cell now.
I'm saying the paradigm of storing bitcoins at private keys you don't exclusively control (so they can be stolen, with zero replacement insurance) itself is nonsensical shit, especially on a site called LOCAL, not Remote... Bitcoins.com.
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
Whatever you are saying doesnt makes any sense if you are buying bitcoins from there and wants to use escrow for safety. Once you will complete transaction funds will come into your localbitcoins wallet and you need to withdraw them like i did.
For example:
if you have a "sell" ad. People who wants to sell you bitcoins puts funds in escrow and then you make cash deposit in their bank account and get bitcoins from them.
ATMs would be just as bad or worse for fees. If I had the coding ability and my own hosting company, I would make the site I envision, and have sellers paying an equal share of the hosting fees to be able to advertise, so the more sellers that sign up, the less each one has to pay.
THat's what I mean, we will end up getting ripped off with who ever implements an ATM system. Just look at the bank fees for ATMs already.
Are you saying if you had your own server farm, physically or a hosting company? A hosting company doesn't necessarily have servers on site or even close to the normal office. Your business plan sound good though. So fees would be X amount and that would be offered as a formula like users/X so the more people that sign up the smaller their "fee" for the site would be. I have not seen anything like this. We should talk more about making that a reality.
Exclusive physical control over a server and the running expenses, I guess. Also as totalitarian government-resistant as possible on the light web, with encrypted messaging and other protocols. I'm full of grand plans, but can't execute most. With my luck, I couldn't even afford to sell on that site unless I ran it, and gave myself a free ad space.
ATMs would be just as bad or worse for fees. If I had the coding ability and my own hosting company, I would make the site I envision, and have sellers paying an equal share of the hosting fees to be able to advertise, so the more sellers that sign up, the less each one has to pay.
THat's what I mean, we will end up getting ripped off with who ever implements an ATM system. Just look at the bank fees for ATMs already.
Are you saying if you had your own server farm, physically or a hosting company? A hosting company doesn't necessarily have servers on site or even close to the normal office. Your business plan sound good though. So fees would be X amount and that would be offered as a formula like users/X so the more people that sign up the smaller their "fee" for the site would be. I have not seen anything like this. We should talk more about making that a reality.
Ah, yes the counterfeit CASH issue, I hadn't really even thought about that possiblity, but if I were to do a cash trade someone could give me counterfeit money. Ding Ding. Thanks for the patience I just didn't get the wording before.
I know all about signing my address and such so I got you there.
Ok fair enough. But you know unless the right people do it, they will always convert to what LB is doing, for the sake of more money. People see a big pie worth $XX dollars they want a piece of it fair enough. IF LB was smart they would split their site into 2. One for local only and one for online trades.
We need ATM's and someone or corp will end up doing it and ripping everyone off........
I know all about signing my address and such so I got you there.
Quote
The only competitor I'm interested in seeing to LB is one that only facilitates local/P2P/face to face transactions, and blocks anyone who refuses to meet face to face, with instructions on how not to get scammed (counterfeit detection methods, tools, and apps, the signing advice I gave above, etc), how not to get robbed (if you are unable to legally possess a gun and surveill your own meeting location/home, then only meet at controlled locations with armed agents, metal detectors and/or x-rays like police stations, secure airport areas, court buildings, certain libraries, banks, gun stores/ranges, etc... because any other public place will be full of people who don't give a shit, crappy surveillance cameras if at all, and men/women with guns minutes, not seconds away, utterly unable to help you do anything but file a report).
Ok fair enough. But you know unless the right people do it, they will always convert to what LB is doing, for the sake of more money. People see a big pie worth $XX dollars they want a piece of it fair enough. IF LB was smart they would split their site into 2. One for local only and one for online trades.
We need ATM's and someone or corp will end up doing it and ripping everyone off........
ATMs would be just as bad or worse for fees. If I had the coding ability and my own hosting company, I would make the site I envision, and have sellers paying an equal share of the hosting fees to be able to advertise, so the more sellers that sign up, the less each one has to pay.
Ah, yes the counterfeit CASH issue, I hadn't really even thought about that possiblity, but if I were to do a cash trade someone could give me counterfeit money. Ding Ding. Thanks for the patience I just didn't get the wording before.
I know all about signing my address and such so I got you there.
Ok fair enough. But you know unless the right people do it, they will always convert to what LB is doing, for the sake of more money. People see a big pie worth $XX dollars they want a piece of it fair enough. IF LB was smart they would split their site into 2. One for local only and one for online trades.
We need ATM's and someone or corp will end up doing it and ripping everyone off........
I know all about signing my address and such so I got you there.
Quote
The only competitor I'm interested in seeing to LB is one that only facilitates local/P2P/face to face transactions, and blocks anyone who refuses to meet face to face, with instructions on how not to get scammed (counterfeit detection methods, tools, and apps, the signing advice I gave above, etc), how not to get robbed (if you are unable to legally possess a gun and surveill your own meeting location/home, then only meet at controlled locations with armed agents, metal detectors and/or x-rays like police stations, secure airport areas, court buildings, certain libraries, banks, gun stores/ranges, etc... because any other public place will be full of people who don't give a shit, crappy surveillance cameras if at all, and men/women with guns minutes, not seconds away, utterly unable to help you do anything but file a report).
Ok fair enough. But you know unless the right people do it, they will always convert to what LB is doing, for the sake of more money. People see a big pie worth $XX dollars they want a piece of it fair enough. IF LB was smart they would split their site into 2. One for local only and one for online trades.
We need ATM's and someone or corp will end up doing it and ripping everyone off........
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
Interesting. So there would be inherent risk for the buyer than the seller that way right? You would have to deposit cash, or give me money pak first then I would release the funds by just transfering out of my wallet to yours? It could work, the only problem I would have is keeping a record book of all the transactions and such.
I guess scammers would be taken down quick enough thru LB feedback, but you have to make a purchase to be able to do that. So since there wouldn't be any records, how would one go about protecting themselves?
Key words in bold.
I'm talking about how LocalBitcoins was originally used (and still can be), before they took the local (face-to-face only) out of LocalBitcoins. Can't unconfirmed feedback be left on LB if the site's wallet isn't used?
Right, the grammar there on your bold was where you lost me. "show them your money long enough to detect counterfeiting, in a secure environment" - like a screen shot of my Bitcoin wallet.
By money, I was referring to fiat, which can be counterfeited, unlike BTC. A screenshot or photoshop of a bitcoin wallet isn't counterfeiting, but potential fraud. Instead of a screenshot, the buyer would be within their rights to give you a random string of text and ask you to sign it with the key you're planning to pay them their BTC from, so they can verify the message, and your ownership thereof. Message signing and verification is a feature of all major desktop clients.
Also LB charges .002 not .0002, i'm sure that was just a typing error. And this is just when you move money in and out of LB, no transactions necessary. It seems LB is taking a little (.0015) cut per person too! So every actual deal LB gets .003 minus the .001(two .0005 transaction fees). Not bad for LB.
This leaves LB vulnerable though as another competitor could come in and undercut them easily. They would just have to convince everyone to move to their platform.
This leaves LB vulnerable though as another competitor could come in and undercut them easily. They would just have to convince everyone to move to their platform.
The only competitor I'm interested in seeing to LB is one that only facilitates local/P2P/face to face transactions, and blocks anyone who refuses to meet face to face, with instructions on how not to get scammed (counterfeit detection methods, tools, and apps, the signing advice I gave above, etc), how not to get robbed (if you are unable to legally possess a gun and surveill your own meeting location/home, then only meet at controlled locations with armed agents, metal detectors and/or x-rays like police stations, secure airport areas, court buildings, certain libraries, banks, gun stores/ranges, etc... because any other public place will be full of people who don't give a shit, crappy surveillance cameras if at all, and men/women with guns minutes, not seconds away, utterly unable to help you do anything but file a report).
Also there may be a place for a drone BTC sales site, but how to secure those is up to greater minds.
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
Interesting. So there would be inherent risk for the buyer than the seller that way right? You would have to deposit cash, or give me money pak first then I would release the funds by just transfering out of my wallet to yours? It could work, the only problem I would have is keeping a record book of all the transactions and such.
I guess scammers would be taken down quick enough thru LB feedback, but you have to make a purchase to be able to do that. So since there wouldn't be any records, how would one go about protecting themselves?
Key words in bold.
I'm talking about how LocalBitcoins was originally used (and still can be), before they took the local (face-to-face only) out of LocalBitcoins. Can't unconfirmed feedback be left on LB if the site's wallet isn't used?
Right, the grammar there on your bold was where you lost me. "show them your money long enough to detect counterfeiting, in a secure environment" - like a screen shot of my Bitcoin wallet.
Sorry if I am being dense here.
Also LB charges .002 not .0002, i'm sure that was just a typing error. And this is just when you move money in and out of LB, no transactions necessary. It seems LB is taking a little (.0015) cut per person too! So every actual deal LB gets .003 minus the .001(two .0005 transaction fees). Not bad for LB.
This leaves LB vulnerable though as another competitor could come in and undercut them easily. They would just have to convince everyone to move to their platform.
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
Interesting. So there would be inherent risk for the buyer than the seller that way right? You would have to deposit cash, or give me money pak first then I would release the funds by just transfering out of my wallet to yours? It could work, the only problem I would have is keeping a record book of all the transactions and such.
I guess scammers would be taken down quick enough thru LB feedback, but you have to make a purchase to be able to do that. So since there wouldn't be any records, how would one go about protecting themselves?
Key words in bold.
I'm talking about how LocalBitcoins was originally used (and still can be), before they took the local (face-to-face only) out of LocalBitcoins. Can't unconfirmed feedback be left on LB if the site's wallet isn't used?
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
Interesting. So there would be inherent risk for the buyer than the seller that way right? You would have to deposit cash, or give me money pak first then I would release the funds by just transfering out of my wallet to yours? It could work, the only problem I would have is keeping a record book of all the transactions and such.
I guess scammers would be taken down quick enough thru LB feedback, but you have to make a purchase to be able to do that. So since there wouldn't be any records, how would one go about protecting themselves?
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
You're right, this works fine for face-to-face OTC trades (which I've yet to try, I've only done bank wires so far).
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
Doesn't HAVE to be deposited there. You can use LB purely as an advertising/messaging service, and have people pay BTC directly to your offsite address, after you show them your money long enough to detect counterfeiting, in a secure environment.
LOL @ storing bitcoins at private keys you don't exclusively control.
Even if you don't use LocalBitcoins as a wallet, bitcoin still has to be deposited there when you buy it, even if you request immediate withdrawal (recommended, although LB does have a 2fa option if you really do wish to use it as an online wallet for some strange reason).
LOL @ storing bitcoins at private keys you don't exclusively control.
I pay tx fee BTC0,00025 [per KB] from my own wallet and the confirmation time is usually pretty quick. Sometimes the time delay before the next block is considerably longer than the target time of ten minutes: such is the luck of the draw.
Difficulty level is too high and all their withdrawal transactions taking too much fucking time now.
Why the fuck they are charging 0.0002 transaction fees instead of 0.0005.
example transactions:
http://blockchain.info/tx/f4449bacbe04eb12e180651616f4fbb8ab565e0e265d939de4df993cf6f89e7a
https://blockchain.info/tx/90283406f211a30b5968ab904a44f6a45b9e5683c950076e4a389c6a5c8e9c34
I had to sent some bitcoins and now i need to wait for many hours to get my own money even after paying fees.
Sorry if i posted it in wrong section.
PS: I have just created a support ticket also.
Edit: It got confirmations now after a half hour. I hope they will allow people to change fees in future.
Why the fuck they are charging 0.0002 transaction fees instead of 0.0005.
example transactions:
http://blockchain.info/tx/f4449bacbe04eb12e180651616f4fbb8ab565e0e265d939de4df993cf6f89e7a
https://blockchain.info/tx/90283406f211a30b5968ab904a44f6a45b9e5683c950076e4a389c6a5c8e9c34
I had to sent some bitcoins and now i need to wait for many hours to get my own money even after paying fees.
Sorry if i posted it in wrong section.
PS: I have just created a support ticket also.
Edit: It got confirmations now after a half hour. I hope they will allow people to change fees in future.
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