With the upcoming v0.15 update for Monero, unencrypted payment ids are going to be removed. But what happens if someone sends to a Monero address using one of these payment ids? Would the coins be lost since payment ids aren't supported anymore?
1 Answer
The Monero wallets, from v0.15, will no longer allow transfers with an unencrypted payment ID.
No coins will be lost in an attempt to use these unencrypted payment IDs; the sending wallet will simply report an error explaining that unencrypted payment IDs are bad for privacy and abort the transfer.
The short, encrypted payment IDs can still be used (such as the ones in integrated addresses), so either use those or better still, use subaddresses.
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All this time i thought payment ids were being removed, but it was just the "Unencrypted" ones. So i guess we can still tag certain transactions using encrypted payment ids when converting from hex to ascii.– Patoshi パトシ ♦Commented Oct 29, 2019 at 16:25
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This has been discussed on many channels for some time now. Please also see this announcement from earlier this year. Also "converting from hex to ascii" does not encrypt a payment id. The short encrypted payment ids are a specific type of id encrypted in such a way they can only be decrypted by the sender or receiver. Commented Oct 29, 2019 at 21:09