GORUCK is excited to now offer Bitcoin as a payment method and below is a rundown of everything you'll need to know. If we missed anything just email us at firstname.lastname@example.org or reach out on Live Chat (Monday-Friday 9am-8pm EST).
How does the Bitcoin Payment option work?
GORUCK is accepting payment in bitcoin using regular on-chain transactions. Your order is still priced in USD but you pay an equivalent amount of bitcoin based on the current exchange rate on Coinbase/GDAX. When you check out and select the Bitcoin Payment option, your order is accepted but unpaid. Please allow a few minutes for the system to generate an invoice, sent to your billing email address. The invoice will include a link to a web form where you are given the Bitcoin address and amount to pay. The form will calculate the amount of Bitcoin due based on the current exchange rate and has a timeout of 15 minutes. If your payment is not detected within 15 minutes, this form will time out. It is best to have your wallet ready to pay before opening the payment link. Once the payment is confirmed we will notify you by email. If you sent payment but the form expired, don't panic. Sometimes it can take 30 minutes or more for a transaction to be mined and we will do our best to honor payments that are delayed this way. If your payment is in limbo for a long time, let us know and we'll see what we can do to help. You can check on the current bitcoin transaction backlog here: https://jochen-hoenicke.de/queue/
If payment is not received within 24 hours the order will be cancelled.
How do I know if my payment went through?
Bitcoin on-chain payments are not instant. It may take anywhere from 10 minutes to many hours for your payment to be recorded on the blockchain, depending on current transaction volume on the bitcoin network and the fees attached to your transaction. We will send you an email once we process your payment and mark your order paid. If you think you made a mistake or your payment timed out, don't panic. Drop us a note at email@example.com and we will do what we can to make it right. Include your order number, Bitcoin txid and any other information you may have to help us track down your payment. Do not send us (or anyone else) your private keys or login credentials. Please keep in mind that if you send bitcoin to an incorrect address, there isn't anything that GORUCK or anyone else can do to return your Bitcoin.
Why are payments not credited as soon as they are sent?
When you create a payment in a Bitcoin wallet, the transaction is broadcast on the bitcoin P2P network and becomes a 0-conf or mempool transaction. Until the transaction is included in a mined block, it is only a candidate transaction that may still be invalidated, so the payment is not considered complete. GORUCK requires payments to be confirmed on the blockchain before we can mark your order paid. If you are paying from Coinbase or another exchange site, they might also delay withdrawals to batch them together with transactions from other customers.
How will refunds work with the Bitcoin payment method?
Due to the nature and volatility of bitcoin, all bitcoin payment refunds will be issued as GORUCK Store Credit for the USD amount of the item you purchased. GORUCK Store Credit does not expire and can be used towards any future order.
Can I cancel a transaction that has not been confirmed?
No, a transaction cannot be cancelled. If the transaction is valid and has been relayed around the bitcoin network, miners already have it in their mempool and will try to include it in a block eventually, to claim the fee that the transaction is paying. The only way you can try to influence this is to spend the same coins in another transaction that pays higher fees. If a miner learns of your higher fee transaction, they may choose to invalidate the original and try to mine the new transaction instead. You can look up your unconfirmed transaction Ids on an explorer like https://blockchair.com/
to see if it's been received by the rest of the network.
Can I add a higher fee to a stuck transaction that is not confirming?
Yes, this is possible. You need to double spend the same coins with a higher fee. Most wallets won't let you spend coins you've already spent unless they have specific support for fee bumping. You may need to do some technical workarounds to accomplish this if your wallet doesn't have this feature. Some information about this process is available here: https://en.bitcoin.it/wiki/Fee_bumping