LBC/Please cancel

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Revision as of 11:04, 2 October 2014 by Andy (Talk | contribs)

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Why you're here

This article is targeted at someone who is participating in an ongoing Bitcoin trade on LocalBitcoins. If you've found it by some other means then it might not have the right context for it to make any sense to you.

You've most likely received a link to this article because you're currently in a Bitcoin trade with me on LocalBitcoins and I've already asked you once to cancel the trade. You have ignored this request for more than a few minutes.

Why you were asked to cancel

I will have asked you to cancel the trade most likely because you haven't read the trade instructions and the trade is not acceptable to me. The trade is never going to happen, regardless of what you say or do. There is no way for the trade to happen. It needs to be cancelled.

Why I need you to cancel it

Short answer

My Bitcoins are held up by this trade. This trade is never going to happen. I can't sell them to someone else until the trade is cancelled, and you're the only one who can cancel it.

Longer answer

When you trade with me on LocalBitcoins, the Bitcoins that you want to buy are placed in escrow by LocalBitcoins for your protection. That means that my Bitcoins are set aside by LocalBitcoins in a place where I cannot access them.

In normal circumstances:

  1. You'd pay me.
  2. I'd receive the payment.
  3. I'd indicate to LocalBitcoins that I have received the payment by pressing the "release" button.
    • LocalBitcoins will give the Bitcoins to you, minus their cut.
    Or
    Your money never arrives.
    • Eventually LocalBitcoins gives me back my Bitcoins.

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