Question regarding coinbase...please help!

[Bababooey89]

Hi guys,

I'm not super knowledgeable with the bitcoin and coinbase and everything, but I requested a withdrawl from betphoenix and they sent it, for the past 18 hours its showing up as pending, when I click "view transaction" it usually shows me confirmations, etc. Now its saying so transaction ID exists, betphoenix is saying that is because the network is overloaded and so many transactions are being processed.

Now I understand coinbase may reject transactions from gaming sites...my question is if they do reject bitcoin from a site, do they return it to the gaming site??

Any help is much appreciated.

Thanks

[Jnas]

Yes It's because the network has been all screwed up for a couple weeks. The miners fee to get a quick transaction is outrageous right now so probably what happened is it was probably sent with a fee that isn't desirable for the miners. They pick off all the higher fee transactions first and a smaller fee transactions get confirmed more slowly. It should eventually get confirmed but it may be a couple days.

https://bitcoinfees.earn.com/

[mrpapageorgio]

Hi guys,

I'm not super knowledgeable with the bitcoin and coinbase and everything, but I requested a withdrawl from betphoenix and they sent it, for the past 18 hours its showing up as pending, when I click "view transaction" it usually shows me confirmations, etc. Now its saying so transaction ID exists, betphoenix is saying that is because the network is overloaded and so many transactions are being processed.

Now I understand coinbase may reject transactions from gaming sites...my question is if they do reject bitcoin from a site, do they return it to the gaming site??

Any help is much appreciated.

Thanks

FYI, it's not advised to send/receive Bitcoin directly to/from Coinbase and a sportsbook and to use an intermediary wallet like Blockchain. They have frozen accounts that do this because their licensing requires that they can't facilitate online gambling so they'll flag accounts if they detect it's being used for that.

[Optional]

my question is if they do reject bitcoin from a site, do they return it to the gaming site??

Simple answer is yes. The bitcoin will not be lost. It will end up in your wallet or back with the book, eventually.

And if you mean will Coinbase confiscate it, no they don't do that. Just close your account and let your cashout if they dont like you.


If the transaction is not picked up by a miner within 72 hours network nodes start to drop it.

If/When all the nodes that the senders wallet communicates with have forgotten the transaction it will become available again in their wallet.

Impossible to know exactly how long and if the transaction is re-broadcast the process will start again.