Silk Road forums
Discussion => Newbie discussion => Topic started by: Smashmouth on February 08, 2013, 07:25 pm
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This is a warning for all newbies who are trying to quickly get BTC.
DO NOT USE BITINSTANT.COM
These guys advertise a fast transfer at a premium rate, but most transfers take multiple days, and in my experience even a week!!!
These guys will also force you to chase them for you btc, and if you don't you wont get paid. Simple as that.
They make a profit from scared SR users who post a transfer with fake information and then never receive payment.
It would be easy to send you funds, but these fuckers are all about the money and many of you will just bend over and take it for fear of being unmasked.
Furthermore, the delays are result of this selective scamming AND a result of the company bargain shopping BTC day after day until they can make higher than the 4% you pay them.
They don't care when you needed those coins and theyre going to pay you based on the higher rate, whether it was the day you posted or the day you finally get paid.... after heckling them for a week.
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i doubt they are SSing. They are a legitimate business, that would still be around had it not been for SR useing BTC as currency. Though they have, the past few months, been experiencing extreme issues and processing times. Nothing a call or email wont fix, happened to be a few times recently, they always had it fixed asap.
Its unfortunate that they are the most convenient & anonymous company to buy coin from. Best advice on this, would be to be sure your not loading your coin on the same day that w.e listing your looking for is to be put up, esp if its from a vendor that sells out in hours. Much love my newb friends.
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We get ours quick with BI.
Hate the 3.95%
ughhh
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i doubt they are SSing. They are a legitimate business, that would still be around had it not been for SR useing BTC as currency. Though they have, the past few months, been experiencing extreme issues and processing times. Nothing a call or email wont fix, happened to be a few times recently, they always had it fixed asap.
This. Their system has been messing up a bit lately but every time I just notify them and get my coins within a day.
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do it
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There's no excuse for it.
We pay a premium for this service and they don't even provide it. Orders are taking close to a week to process in many cases.
But just a heads up, Bitinstant IS NOT THE FASTEST AND MOST ANONYMOUS WAY TO GET YOUR BTC.
Its just the easiest way for lazyass noobs.
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I have used bitinstant probably 10 or 12 times. Every single time I use it, it takes about 5 min at a CVS or cash advance place(doing it w/ moneygram) and by the time I get back in my car from paying I have an e-mail showing the money is in my mt. gox account. I feel like you just must be doing it wrong, sorry. Let me know if you need some help. I love bitinstant lol
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I have used bitinstant probably 10 or 12 times. Every single time I use it, it takes about 5 min at a CVS or cash advance place(doing it w/ moneygram) and by the time I get back in my car from paying I have an e-mail showing the money is in my mt. gox account. I feel like you just must be doing it wrong, sorry. Let me know if you need some help. I love bitinstant lol
The difference between our transactions is this:
-I transfer to a wallet address
-I access BI using tor
-I create a new account every few transactions
So when BI sees your payment it seems clean, but when they see mine they think "Hmm... one of those internet criminals?" and they start the bullshit.
This is a developed scam and the intention is to target our users, because some of us will roll over and take it.
If your transaction matches the profile they're watching then they will fuck it up and make you fight for it. They have different excuses from time to time and love to fall back on "You've been flagged as fraudulent".
That's their favorite one.... because it sounds realistic to someone who is using false information. BUT, they'll do this with your real information (experienced it). You'll find that MoneyGram didn't consider you fraudulent, and ZipZap didnt consider your fraudulent, but now Bitinstant, the most informed player of the three is going to lockup your funds and offer no communication until you start blowing up their channels.
Seriously, fucking beware. Look into it for yourself.
Better yet, spend that time tracking down one of the many alternatives. I know I've never had this kind of trouble with anyone else.
Support an established SR vendor and trade usd for btc with them :)
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I always use BI and have never had problem (i always use TOR and i use the btc to email option, which uses coinapult). I always create a new account and email too. takes an hour or 2. So im not sure why your having so much problems. I do know you must remember the exact info and phone number you use otherwise thier could be a problem.
The one thing that annoys me is that even after they take their 3.99%, it always seems like u loose another 3-4 bucks when coinapult actually buys btc and deposits them (they email you and tell you how many btc were sent and the dollar value of them, which is usually 3-4 bucks less than your balance, aft the 3.99%. i have complained about that & they told me the email is just an estimate, and the price fluctuates so fast that its not an error. who knows if thier telling the truth. but to take a week is insane. i would call or email and complain.
i noticed they are blocking some IP addresses. i had trouble just getting in few days ago. anyone else get blocked or get the error 50 message?
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Haven't used bitinstant in about a month. I've used 20+ times before that. I'd get the funds to MG by the time I got to the car. I usually did it through Lucky's or CVS. Hopefully they fix whatever is going on.
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I gotta say, I've had no problems with bitinstant at all, although I hate getting hit with two fees (theirs and moneygram's). Anonymity isn't even an issue, either, because all bitinstant does is fund the address. SR routes payments in so many directions that they are impossible to trace back to a seller.
The best thing about using bitinstant is the quick turnaround. I walk into Walmart with my debit card, pay what looks like Walmart to be a $700 bill, and by the time I get back home, my bitcoins are there. I pop in Die Hard, and by the time Alan Rickman's splattering the pavement, I'm placing orders on the Road. Too easy.
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I've had a couple occurrences that have been rather slow, but if you contact support with the order id and the same email address that you confirmed the order with, (preferably a fake one), then the bitinstant staff will help you. They're all very nice and get your order moving if it gets stuck. My most recent order had no problems.
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can anyone recommend a good thread that explains a reliable method other than Bitinstant? its fast, but the fees really do suck after so many transactions. 3.99% plus zipzap/money gram charges $3.95 each time, it all adds up.
also has anyone used the option to fund mt gox? it says its only 1.99% fee. is that accurate? or are other fees involved later?
any info is appreciated
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@smashmouth (shitty band) - what do you recommend as most easy/anonymous way - if it's a SR seller like you recommend in your second post, any names you want to share? All the ones I've looked at (BST, Sugar Mama, some other i'm forgetting) charge a pretty high fee. Bitcopia seems pretty painless.
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Well, I am using Mt. Gox, too, but here's the thing with that. Once you get the Gox account, you have to verify it by sending your photo ID and a utility bill to them. Then they verify you, and for me that took 8 days. The funding source for a Gox account has to be from a specific list of account types, only one of which are US-based (and you can't fund you Gox account with an account based in a country other than your home), and that's Dwolla. To set up Dwolla, you email them your photo ID and utility bill, and then plug in your checking account routing and account numbers, and they verify your account like PayPal. For me, that took 7 days. Then, finally, when the stars have aligned and you have funded your Dwolla account (that takes 2-3 days), then you can make a Dwolla payment to you Mt. Gox account. Unfortunately, they're really backlogged right now, and transfers are taking a few days. I'm in the stage of waiting for my funds to clear my checking account into my Dwolla account.
See why I use bitinstant?
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Mt Gox makes your verify your account? i thought u can use the account but if you want all restrictions removed (like no tranfer over $500) then you have to provide photo ID & verify ur address.
most people who want btc do not want to send photo ID & verify thier address. hell, you can set up an account with online brokers to buy stocks & bonds with no photo id or address (just ss#) .
has anyone used bitinstant to fund mt gox? how many fees are involved?
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Yeah I don't know about the whole photo ID thing, I've been using Mt Gox for a long time and never been asked for that.
As far as fees I can tell you BitInstant -> MtGox for $200 is gonna cost
$3.95 on the MoneyGram End
$8 on the BitInstant End
So $203.95 will net you $192, expensive but on the other hand takes me about 5-10 minutes to leave my house, go to the 7-11 or Albertsons, do the transfer, and drive home so if I need BTC fast I'll use it. Typically is in my MtGox account by the time I get back to the computer.
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I don't know when it started, but I was not allowed to transfer funds into my account until I had provided a photo ID and proof of residence.
So, where I stand right now: I have a Dwolla account with a zero balance, and a pending order to deposit $400 into Dwolla. That should be there Monday. Then, I'll do a Dwolla payment of $400 to the number that Mt. Gox tells me is associated with my account, and then I can buy $400 worth of BitCoins. I think once things get going it'll easier to use Mt. Gox, but since I didn't have a Dwolla account and I didn't have a Mt. Gox account, bitinstant spanned the gap for me so I could place orders in the meantime.
I was so frustrated at the whole thing, though. I still don't understand why there isn't a website out there that will just take your debit card number and allow you to buy BitCoins with it. What is so wrong with that business model? What am I missing?
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I think the idea of using a debit card would kill the anonymous part. Most people wouldn't use anything with thier name on it. BUT that option would be nice for people who dont care about being 100% anonymous.
I wish there was a better method too. maybe an option to place an order then deposit cash into a bank or ATM & do it that way. And even with private sellers- they will always add like 2% fee or charge more than current btc rate, because they know you pay more at any exchange. Ebay sellers are INSANELY overpriced too. I just hope bitinstant doesnt start imposing more rules or force you to verifying ID.
I checked out bitcointalk but they wont allow TOR users or tormail. WTF? yeah i know people scam & thats probably why. but isnt that what majority of people use?
well if anyone has experience with other sites with lower fees, please post info or pm me.
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Not sure about this but as I understand it the reason you can't use cc/dc for btc is the ability to cancel payment after you have received the btc. But I have been able to do it. I virwox allows you to purchase sll the trade them for btc. But it is ridiculously expensive. I and you can only buy whole btc. So I have xxx sll sitting out there unused. I'm not even sure what they are used for. Anyway I used them my first few btc purchases before I found Bitinstant. Thinking about the whole bank deposit option but that makes me a little more nervous.
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They ask for your real information, because it is a financial transaction, and in the US, as part of the patriot act, they run your name thru OFAC....
Why anyone would not use their real information is beyond me, BTC is legal, but guess what everytime someone uses John Smith, and the name is on the OFAC list, good luck. You wont get shit.
Why this simple process is so beyond people... perplexes me.
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LOL
I use BS names and addys everytime, no ID required at kiosks. Also my loaded a stack today, right to my SR addy no less, and it was loaded by the time I got home(15min).
And yes use your real info, can at some time or another be incriminating.. Its a paper trail silly.
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mt.gox rips people off? I never heard of anyone not getting what they pay the clerk for.
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would zipzap and moneypak be better alternatives?
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I have used bitinstant probably 10 or 12 times. Every single time I use it, it takes about 5 min at a CVS or cash advance place(doing it w/ moneygram) and by the time I get back in my car from paying I have an e-mail showing the money is in my mt. gox account. I feel like you just must be doing it wrong, sorry. Let me know if you need some help. I love bitinstant lol
The difference between our transactions is this:
-I transfer to a wallet address
-I access BI using tor
-I create a new account every few transactions
So when BI sees your payment it seems clean, but when they see mine they think "Hmm... one of those internet criminals?" and they start the bullshit.
This is a developed scam and the intention is to target our users, because some of us will roll over and take it.
If your transaction matches the profile they're watching then they will fuck it up and make you fight for it. They have different excuses from time to time and love to fall back on "You've been flagged as fraudulent".
That's their favorite one.... because it sounds realistic to someone who is using false information. BUT, they'll do this with your real information (experienced it). You'll find that MoneyGram didn't consider you fraudulent, and ZipZap didnt consider your fraudulent, but now Bitinstant, the most informed player of the three is going to lockup your funds and offer no communication until you start blowing up their channels.
Seriously, fucking beware. Look into it for yourself.
Better yet, spend that time tracking down one of the many alternatives. I know I've never had this kind of trouble with anyone else.
Support an established SR vendor and trade usd for btc with them :)
Why would you access bitinstant through tor? Coins are legal to buy and using a fake name+tor is basically ASKING the company to flag you as a potential criminal.
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I've always used Bitinstant for my coins. No problems so far.