Heritage bitcoin payouts?

[TheMoneyShot]

I got screwed more than 10% on a deposit when bitcoin went from $4100 to $4900 in an hour. It did not receive a confirmation until it had reached $4900 so I was pissed af when that happened. It credited the deposit based on the $4100 yet in their rules it clearly states when confirmed.

Was on looselines, will never use them again after that BS.

Yep, very rarely that happens (allowing the customer to GAIN the difference when bitcoin goes up.) Funny thing is 5Dimes did that to me on one deposit a long time ago. Got confirmed 2 hours later.... it greatly increased. But 5Dimes gave me the "15 minute window" on that. They never let you win... when Bitcoin increases. They will allow you to take the LOSS when bitcoin drops though.

[Barrakuda]

Hmm. Why would a book give you anything other than the price at the time of sending?

FWIW, all my 2019 deps at Heritage were within 0.20% of Blockchain, and usually in my favor. This is definitely not a good look for Heritage.

Agree with TMS: 5D deposits have always been hazardous to your wealth.

[HedgeHog]

Hmm. Why would a book give you anything other than the price at the time of sending?

FWIW, all my 2019 deps at Heritage were within 0.20% of Blockchain, and usually in my favor. This is definitely not a good look for Heritage.

Agree with TMS: 5D deposits have always been hazardous to your wealth.

If it were any other Book, I would say it would be an attempt to manipulate the price on what they give you--and not for the good! However, I can't see Heritage ever intentionally participating in a system designed for skimming. That said, I don't like being forced to assume the currency risk while my deposit is being confirmed. Luckily Heritage does accept B2B transfers from other major books (like 5D) with just a 1x RO--which I can often complete in a matter of a few days. This looks like a better deposit option for me going forward. Send $3000 and get $3000...what a concept.

[Barrakuda]

If it were any other Book, I would say it would be an attempt to manipulate the price on what they give you--and not for the good! However, I can't see Heritage ever intentionally participating in a system designed for skimming. That said, I don't like being forced to assume the currency risk while my deposit is being confirmed. Luckily Heritage does accept B2B transfers from other major books (like 5D) with just a 1x RO--which I can often complete in a matter of a few days. This looks like a better deposit option for me going forward. Send $3000 and get $3000...what a concept.

I mean, what pct. of transactions never get confirmed? It has to be approaching zero. I agree it would be odd for Heritage to skim, but their policy of using the confirmation time for conversion rate equally odd (if true).

[TheMoneyShot]

I mean, what pct. of transactions never get confirmed? It has to be approaching zero. I agree it would be odd for Heritage to skim, but their policy of using the confirmation time for conversion rate equally odd (if true).

Not trying to defend Heritage at all. Just giving you my input on every deposit sent to them....

Their system is exactly pinpoint 1st confirmation whatever blockchain claims the USD amount was. For example... if you sent Bitcoin at 3k worth... and it happens to go UP within 9 minutes of first confirmation... you will get the positive difference. So you could end up with $3,001.98

Again... it's whatever time the first confirmation happens.

It does suck if the confirmation never comes for 2-3 hours.... and Bitcoin is dropping. Not a good feeling.

[HedgeHog]

Not trying to defend Heritage at all. Just giving you my input on every deposit sent to them....

Their system is exactly pinpoint 1st confirmation whatever blockchain claims the USD amount was. For example... if you sent Bitcoin at 3k worth... and it happens to go UP within 9 minutes of first confirmation... you will get the positive difference. So you could end up with $3,001.98

Again... it's whatever time the first confirmation happens.

It does suck if the confirmation never comes for 2-3 hours.... and Bitcoin is dropping. Not a good feeling.

I'd rather their system be exactly pinpoint to the amount sent when it's sent, like every other major Book does. If I'm not mistaken, and someone will correct me if I am, Books receive BTC funds when they're sent...right? Consequently, the confirmation process is just a formality to affirm that the transaction is valid. It should not be used as an opportunity to change the value of a transaction that has already taken place. This is what Heritage is doing and it's wrong IMO.