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c/cryptopay·posted 2 years ago by u/nabila_bakken

do gas fees actually matter or is it forum lore at this point

Explainer Clean Column ×2 The Quiet One ×1 Cold Box ×1

Trying to get a straight answer on this: do gas fees actually matter or is it forum lore at this point.

The one mistake that cannot be undone, and why it keeps happening.

The same token symbol exists on multiple chains. The wallet interface shows you the symbol prominently and the network in small type. Sending on the wrong chain to an address that looks perfectly valid usually means the funds are unrecoverable by either party.

The protection is procedural rather than technical: confirm the network in writing with the recipient before sending, verify the address format matches that network, and send a small test first. None of that requires understanding the chain — it requires treating the network field as the most important thing on the screen, which the interface design does not encourage.

The sequence that makes this boring, which is the goal.

Ask which networks are accepted before you order. Pick the one with a sensible fee at that hour. Paste the address rather than typing it and verify the first and last several characters. Check whether the chain requires a memo. Send a test amount if the total is large. Wait for confirmations before treating anything as done. Save the transaction hash with the order reference.

Seven steps, most of them seconds long, and between them they eliminate every failure mode that gets posted on this board.

Sent to the right address on the wrong chain years ago. Nothing to be done. That is the lesson I paid for.

If somebody has the same thing measured a different way, post it next to mine and we will see whether they agree.

5,469 up / 1,221 down82% upvoted18 commentsid 17gjgx11 Feb 2024

18 comments

12 in this archive, depth 4

best — the order this archive was captured in

u/tove_ogunleye219 points·2 years ago

Some chains require a memo or destination tag to route funds to the right account. Omitting it on those chains is one of the more common ways payments go astray.

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u/discount_math_dm0 points·2 years ago

Not convinced. That fee is the network fee at that hour, and it has nothing to do with the supplier.

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u/escrow_evangelistMOD167 points·2 years ago

Retitled from an accusation to a description while the confirmations catch up.

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u/nabila_espinoza-11 points·2 years ago

Confirmation took forty minutes on a busy evening and I had already written half an angry message. Deleted it.

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u/ilias_nakamura1 point·2 years ago

Escrow is not standard in this space. Wanting it is reasonable; expecting it as default is not.

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u/lane_watchermod · logistics111 points·2 years ago

Rate quotes expire because the underlying rate moves. A short expiry is ordinary; urgency about your decision is a separate signal and should be read separately.

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u/marit_mwangi39 points·2 years ago

Yes — gas is the network’s, not the supplier’s, and conflating them produces a lot of unfair complaints.

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u/vendorinvestigate_vic133 points·2 years ago

What is and is not the supplier’s fault, since this board generates unfair complaints.

Not theirs: the network fee, chain congestion, confirmation time, the rate moving between quote and send, and a payment sent on the wrong chain. Theirs: which networks they accept, how quickly they credit a confirmed payment, and whether the address they gave you was correct and communicated clearly.

Keeping those columns separate makes the reports here far more useful. A thread titled "supplier took my payment" that turns out to describe forty minutes of unconfirmed transaction helps nobody and follows people around for years.

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u/tove_ogunleye46 points·2 years ago

This. A test transaction on a large order costs a fraction of the fee and removes the whole class of risk.

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u/runa_cabrera14 points·2 years ago

ask which networks they actually accept before you order

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u/marit_mwangi11 points·2 years ago

A token symbol identifies an asset, not a network. The same symbol commonly exists on several chains with incompatible address formats, and sending across that boundary is generally unrecoverable.

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u/elin_trevino11 points·2 years ago

fees vary by chain and by hour, not by supplier

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About c/cryptopay

Paying for research material with crypto: which networks vendors actually credit, confirmation windows, memo/tag requirements, gas versus discount arithmetic, escrow for group buys, and the total absence of chargeback rights. Not investment discussion — payments only.

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