"Where are the bitcoins I sent ?" Lessons I learnt today, from a crypto-beginner
Good day Steemians ! How is your Sunday going so far ? Today I want to share with you a little story that happened to me today and gave me a reasonable amount of adrenaline.
Well, yes I am Master Yoda, and I'm also a student passioned about new tech and that new blockchain thing really got my attention.
So yesterday evening, I bought a quite big amount of bitcoins (according to my revenues, which are approximately equal to zero) on Kraken. Yeah I now, the price is high right now before the fork but it is not for holding.
So then I waited a bit just to be sure that my transaction has been processed. Once I received the confirmation, I then started to fill the gap with the information required for withdrawal.
My objective was to send a number of Bitcoins I bought to another trading platform, Coss.io (that I recommend for many reasons I may explain later, feel free to check their white paper).
So when I sent them, I accepted the fee and then waited for any confirmation. But none arrived.
After 20 minutes, I first received the information that my transaction has been accepted. But still nothing on my Coss account!
After digging a little bit, first information, I learned that most of the exchange wait 3 to 6 hours after first confirmation for the transaction to be secured in the blockchain before adding it to your wallet
So I tried to chill out and waited. 3hours, 4hours, 5hours, still nothing. It has now been almost six hours, what could I do?
Well, not much, as you may know, that bitcoin doesn't respond to any authority. But the transactions are public!
And so I found and went to blockchain.info, a real-time view of all the transactions that are being validated. There, I finally got the confirmation that my transaction had been validated by the nodes only by researching the address I was supposed to have sent the bitcoin to.
One-hour later, my coss.io wallet had the bitcoins, ready to be traded.
Lessons from today adventure: be patient, write the proper address while sending and don't hesitate to dig for information and share them.
Seek the positive in every situation,
Take care,
Rob.
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Life Bless You, my friends!