I lost $12.00 (approx) in Bitcoin. I want to know where it went.
The only place I use Bitcoin is at Coupa Cafe in Palo Alto. I have my coinbase wallet hooked up to my bank account and transfer tiny amounts of cash. I have had a fairly good experience at Coupa using bitcoin. Only once was a transaction unable to go through but I lost no money on it. But not last night.
I sent the .014 for my small spicy mocha and a biscotti. They didn’t get it and I never received the receipt I always get immediately from coinbase. I sent it again – should not have done that.
Both transactions were pending and never moved out of that mode. Coupa never got the transaction and I never got the receipt. By the time I finished nothing had changed and I paid cash. Both transactions were still pending and Coupa said they would not accept either should they arrive. Today I check my Coinbase wallet and see that both transactions were complete. But I have no receipt from Coinbase.
This is my mini Mt. Gox. Where are my .014 bitcoin transactions? (Two of them).I have now paid three times for my spicy mocha and a biscotti.
Bitcoiners, help? Coinbase, help? (Thank you Coinbase for the answer to my other question of a week ago, that was helpful.)
An article from WIRED had this to say about bitcoin potential problems:
But I believe bitcoin-the-currency contains a fatal flaw, one that ensures that bitcoin won’t ever achieve widespread adoption as a currency.
The flaw? That bitcoin transactions are irreversible. That is, they can never be undone: Once committed, there is no “oops”, no “takeback”, no “control-Z”. Combined with bitcoin’s independence — it is a separate currency with a floating exchange rate — this flaw is arguably lethal to money systems.
I like the idea of Bitcoin, I go to some Meetups at Sunnyvale Plug and Play Tech Center, I try and understand it, and we accept it here on The Silicon Valley Story. It’s not ready for prime time retail the IRS is making life difficult and there is far to go. But I’m trying it out, now I need an explanation and also, if you want to help buy us a mocha at Coupa in Bitcoin, we accept donations.
Thanks.. HELP US KEEP THE CAFFEINE FLOWING