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Unless BitPay have changed their policies, the exchange rate is only locked in for 15 minutes. If the transaction doesn't get its first confirmation before then
by makomk 9y ago
Unless BitPay have changed their policies, the exchange rate is only locked in for 15 minutes. If the transaction doesn't get its first confirmation before then, it expires and if the exchange rate goes up even slightly they consider the transaction underpaid. That's almost certainly what happened here. They used to be more sensible and only require the transaction to be broadcast to them within the 15 minute window, but they quietly changed it a few years back.
- nadaviv 9y ago> If the transaction doesn't get its first confirmation before then, it expires I don't think that's true. To the best of my knowledge, they lock-in the rate if the transaction appears on the network within the 15 minutes window, regardless of when its confirmed.
- makomk 9y agoIt's certainly possible they fixed this at some point, I gave up on using them after a bad experience with this a few years back. It just wasn't worth the hassle of trying to use Bitcoin for payments, especially after the Humble Bundle stopped accepting it for most things because they wanted to track purchasers' IDs.
- Lazare 9y agoThat's interesting. Their published terms of use do NOT say that, so if so that's shady as hell.