Satoshis left on exchanges | Bitcointalksearch.org

RealPhotoshoper

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

you're so funny,its not exchange problem,its your problem,exchange have fee standard,and its must be follow by all exchange user,i just suggest you to sell that satoshi to altcoin,and then witdraw it,some exchange have little fee for other altcoin,dont witdraw on satoshi.

ranochigo

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Quote from: KennyR on March 28, 2016, 04:34:43 AM

Quote from: mkc on March 27, 2016, 11:40:43 PM

A few satoshi left in exchange is not yours anymore. Many exchange has limits on order size, you can not exchange them to anything meaningful. As you said, you will not transfer them out. In the end, they are not yours any more.

Thats not true. It can be made yours by adding up some bitcoins to the wallet and withdraw completely without leaving some satoshi in the wallet.

It simply isn't worth it. The dust amount would be less than the fees. If one were to deposit, they would gain nothing since the fees (0.0001BTC) would be deducted from the dust.

Since the amount is dust, the exchange cannot send them to a specific address since it would not fit the dust threshold set by nodes to relay transactions. The amount would be rather miniscule. There is very little use for most users.

RealBitcoin

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

I`m not sure if you are a bitcoin classic shill Cheesy

What do you mean fees are too big? Does 4 cent /transaction is too big for ya?

Then abandon bitcoin and go to your bank, they will charge you 2% + 10 $.

gentlemand

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

The exchanges haven't kept your satoshis. They're waiting for you to add more and then you can withdraw them. It's the protocol's fault that it costs so much to move them.

ctlaltdefeat

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

no,exchange have no responsibilty about satoshi left on your account because exchange have own fee,the only one to witdraw your coins is pay that fee,and so far exchange have big fee for witdrawing,just poloniex consistent with small fee,about 0.0001 for bitcoin.

KennyR

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Quote from: mkc on March 27, 2016, 11:40:43 PM

A few satoshi left in exchange is not yours anymore. Many exchange has limits on order size, you can not exchange them to anything meaningful. As you said, you will not transfer them out. In the end, they are not yours any more.

Thats not true. It can be made yours by adding up some bitcoins to the wallet and withdraw completely without leaving some satoshi in the wallet.

mkc

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A few satoshi left in exchange is not yours anymore. Many exchange has limits on order size, you can not exchange them to anything meaningful. As you said, you will not transfer them out. In the end, they are not yours any more.

Wendigo

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It's not worth trying to take out every single satoshi you have lying around at every exchange you have an account at because you will pay more in fees than what the dust amounts to most of the time. If they pay the transaction fees themselves then you have a chance to withdraw everything to the last drop Wink

But to be honest I sometimes don't even pick up the small change in real life because I don't like to have a lot of small coins jingling in my pockets.

Timelord2067

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Quote from: fernforest on February 04, 2016, 10:15:21 PM

If one bitcoin is worth $1,000,000 someday, and you have 1,000 satoshis lying around in a bunch of different accounts in multiple exchanges, you will have lost $10.

It took five years to get from $1 to it's current $ 415 - by the time BTC gets to $ 1M - $10 won't buy you the wrapper on chewing gum.

fernforest

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Quote from: BellaBitBit on February 03, 2016, 03:44:32 PM

Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

Good question. If one Satoshi would ever become valuable then people would deeply regret keeping even a few satoshis on an exchange. There would be no recourse because I am sure there is an agreement made when using the exchanges service that there is a fee. Maybe if exchanges had a pop up, prior to depositing, that there is a withdraw fee because for some you dont know until you have to withdraw.

If one bitcoin is worth $1,000,000 someday, and you have 1,000 satoshis lying around in a bunch of different accounts in multiple exchanges, you will have lost $10.

Za1n

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Since your argument revolves around the dust, which is worth less than the transaction fee, currently around 0.0001 BTC or about 4 cents, let me ask you if you would pick up 4 cents laying on the ground in a parking lot.

You know the pennies laying under a empty beer bottle in a corner covered in soot, dirt, vomit, possibly urine or feces.

If so, than you would be better off picking up the 4 cents, investing them into bitcoin, than worrying about the dust left on exchanges. If BTC is ever worth $10,000/btc, your 4 cent investment you are fretting over would only be worth about $1.

Anddos

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Quote from: MedaR on February 04, 2016, 05:18:59 PM

I just don't bother with those, those are small amounts.
Maybe if one day in next 20 years from now, if price rocket ...I will be sorry!
Who can tell?
I'm much more concerned for the future of certain exchanges, and my money there! Grin

Just search and see how many transactions are made every second. And then just imagine that just 1000 satoshi are lost with each of one. If I'd be able to gain 1000 satoshi every second I'd be more than happy.

a7mos

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

I do not think that exchanges have high bitcoin withdraw fees at all, these fees are paid in the transaction fees so they do not take it for themselves.
If you have less than .0002 in an exchnage and you want to withdraw this small amount, buy an altcoin that has a small withdraw fees then you will get your cents

Patatas

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Not really,I'm answering the question in regards to a situation where the transaction fees are paid by the exchanges or they're considerably low.If the transaction is completed with few satoshi's left,you can always initiate new transactions with addition of the fees and redeem those or atleast use it for as the service fees.Speaking of satoshi's ,there are lot of faucets which have minimum limits on payouts like 50,000 satoshi's.There are people who make it till 30,000 sats and the either stop with the faucet or just forget about it.I'm not saying everybody but few of them ,which makes a bigger loss and giving website the profits and this seems like a bigger picture we should be caring about.

MedaR

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I just don't bother with those, those are small amounts.
Maybe if one day in next 20 years from now, if price rocket ...I will be sorry!
Who can tell?
I'm much more concerned for the future of certain exchanges, and my money there! Grin

MissionPhailed

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If you want to get the BTC-dust out of an exchange, you could transfer a (slightly) larger amount to the exchange so the total amount becomes transferable, then withdraw all of it. The downside of this is you'll pay more fees than the amount you want to 'rescue' is worth.

I've left a few thousand vague altcoins on Cryptsy that might be worth several cents. Maybe even less, as those were utterly failed altcoins.

Kprawn

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I wonder what will happen if you close the account... would it not refund you to a withdrawal address? I had some Satoshi's tied up in some of these

cloud mining websites, but it quickly evaporated when the service fee's caught up with me. I also have some Satoshi's in wallet providers, when I tested

it and I forgot my password and the answer to the security questions. Just write them off... the service provider will sweep them up eventually. Roll Eyes

krunox123

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Quote from: BTCBinary on February 03, 2016, 03:32:55 PM

I already have a lot of satoshis lost around several bitcoin exchanges. I can't withdraw those satoshis because they don't even worth the fees.
Like me there's thousands of others in the same situation which would make a lot of BTC. So I take it that exchanges keep these satoshis for them.

What do you think? Should exchanges be responsible for the fees and return every satoshi to their owners?

For a moment, I thought you said Satoshi Nakamoto left an exchange website. Embarrassed

Anyway, I always had a few hundred satoshis left on exchange website because I cannot withdraw them (insufficient fund to cover the fees). It is dusts though, but I'd love to withdraw them if possible.
Well, if I want to withdraw those satoshis, I'll do it another time when I want to withdraw my coins from the exchange website.

franky1

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Quote from: DimensionZ on February 04, 2016, 02:26:11 AM

Don't the fees depend on the TX and are not correlated to the price of Bitcoin at that given moment? I would guess the fees increase exponentially with the bitcoin difficulty to mine it.

BEFORE the 2013 inception of blockstream, tx fee's were tagged roughly against the fiat value.. basically when bitcoins fiat price rose to cause the tx fee minimum to be more than 1cent. the decimal was moved down so that the tx fee remained below 1 cent.

but now the corporate shell has done away with that standard and although miners do not need tx fee's as a income stream for atleast 20 years, the corporate shell are giving into greedy and ignoring the communities desire for something better than corporate greed.

so while blockstream hold the keys. dont expect fee's for normal bitcoin transactions to be less than 1cent ever again. you have more chance of getting your satoshi out by converting them into altcoins

bitcoinboy12

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Good one, never thought about the satoshis left in each walet, collectively they sure are worthy enough and the exchanges are getting them for free.

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