Hi All,

I am stil ltrying to navigate my way around in Bitshares but have been actively moving my BTC in to OPen.BTC then on to OPEN.EOS & BTS. Today I noticed that there were 2 new coins listed in my account.

The first is PAYCASH with a quantity of 0.2 a transfer from "error404"
The second is FAIRCOIN with a quantity of 0.02 a transfer from "toolate1488"

Can anyone help me determine what these are and why they were sent to me?
Thanks in advance for your help!

Thank you for the heads up pc!

I suspected that might have been one of my issues. I checked blockchain.info and sure enough the transaction did not go through. I could also see on https://wallet.bitshares.org/#/deposit-withdraw that there were no recent transactions.

OK. So at least my method is sound.

I saw the fees listed in the withdrawal dialog box but wasnt completely sure what they related to.

Can you help me clarify the following:

There is a .22941 BTS fee which I am assuming is a flat fee.
Then there is the BTC Gateway fee of 0.0003 Is that fee calculated off of the current price of BTC?

Here is my math.

Current BTS price was $0.50 = BTS Fee of .22941*.5= 0.114705
Current BTC price was $14,000 = BTC Gateway Fee of $14,000*0.0003= $4.20

I changed 7 BTS with a value of about $3.50 in to OPEN.BTC I cant recall what the exchange rate was here but lets just assume it gave me $3.50 in OPEN.BTC

With that math I paid in fees: $4.31 which is greater than the amount of the transfer. OK I feel dumb now but I am learning!

I did a quick search on fees and found a note that indicated that if the fees exceeded the transaction amount that the entire transaction just gets applied to the fees and it can not be reversed. I guess thats fair since I used up some computing power and couldnt pay to complete the transaction.

Thanks again for all the help!
-Newbie

Hi All,

This may be a dumb question. I am a new Bitshares user and was wondering what the best practice is to get funds in or out in US Dollars. Or is the idea that once funds are in the Bitshares Wallet they should just stay as a cryptocurrency in one form or another?

 I funded my Bitshares account with BTC from my Coinbase account.

That showed up in my Bitshares Wallet as OPEN.BTC. I understood all that part. I then sold the OPEN.BTC on Bitshares to purchase BTS.

So lets say that I need to get US Cash out of Bitshares from the BTS that I am holding. Would I convert that back to OPEN.BTC then send it back to my Coinbase account which is connected to my bank account?

Openledger seems sketchy at best since it goes down so often and I am not confident in depending on them.

I am just thinking of my real world needs if I need to actually pay for anything. My goal is to start a business form the investment earnings. I cant pay my rent with a Cryptocurrency though. IF the idea is to just leave it as crypto and invest in crypto business that is fine but it just severely limits the usefulness of the investment.

Thank you in advance for your help!