Silk Road forums
Discussion => Security => Topic started by: Joey Terrifying on April 07, 2013, 03:47 pm
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I have been using bitinstant for almost a year now, I think, with no issues whatsoever. Recently, though, they've been a major pain in my ass and today I stupidly made a cash deposit and then saw on their facebook wall a plethora of posts from angry customers not getting their money.
anyone know what the deal is? should I just assume I got robbed today?
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I don't know if I'd go as far as to say you got robbed. Their service has definitely gown downhill lately, though. I quit using them a few months ago and it was getting worse at that time. Apparently it has continued that trend. I'm sure you'll get your BTC eventually, although it's hard to say when.
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This is troubling news indeed. Haven't purchased any coin for a couple months now but I had always wondered why Bitinstant wouldn't take advantage of their customers. But hopefully they resolve the issue and gain back some credibility.
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One word.
"Bitfloor"
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One word.
"Bitfloor"
thank you.
i have just been using bitinstant out of habit and desperately need a new exchange site
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I've had success with bitfloor, just be careful, it seems I get back less coin when I go through them. I chose a market order though, so you may do better if you name your price and wait for a seller.
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My take is that they are incompetent and are currently operating in Ponze mode. IE, you try to buy bitcoins but they can't deliver at that time because they use your money to pay their backlog of orders. They wait until the next guy tries to buy bitcoins and then they deliver your bitcoins using the new guy's money. Wash, rinse, repeat. They will of course ultimately fail.
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I brought this up on the technical support page and I got around the same feedback. I'm worried about this, waited this weekend for my BTC to deposit after I got an email from ZipZap and I watched the price rise > $55 before they deposited. Did a lot of reading on their support and Facebook pages, and their support agents were using smileys on like every message sent by a dissatisfied customer. Are they really taking this seriously?
I'm going to have to check out Bitfloor. I know the market is expanding and all, but so is their revenue as a paid service. They should compensate for it.
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they are responding emoticons to people on facebook but not via email????? wtf is going on over there? Is bitinstant being run by a group of 14 year old girls???? i can't believe i'm saying this but "i wish i had facebook" so i could spam the fuck out of their wall until they finally pay attention to me.
i'm starting to email them every morning and night hoping for a response, but still nothing. i just want this transaction to be over so i can never use their service ever again.
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I feel you man. That is the last time I'm using them! I would make a Facebook account just to get through to them, even if it's a fake one. Most responses I saw took under 6 hours, although whoever is running the page is most likely a middle school 4H group considering how they are treating their customers. :P
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Jesus christ.. there not robbing anyone dude.. pretend YOU ran than business now, and bitcoins were going up and down DRASTICALLY in hours... your business would get fucked up as well...
if u did a transfer and it didnt get through, dont sit and do nothing... hit up their live help, email them, go to bitcointalk and create a account, takes 5 seconds, and create a forum and hit up there rep he WILL answer you within the day and most likely fix your problem, im sure youve lost a fair amount of money....
Even i did through bitcopia, it took about 4 hours and i went from 950$ to 750$ but thats the game u play when u wana buy in uncertain times..
hopet his helps
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Jesus christ.. there not robbing anyone dude.. pretend YOU ran than business now, and bitcoins were going up and down DRASTICALLY in hours... your business would get fucked up as well...
if u did a transfer and it didnt get through, dont sit and do nothing... hit up their live help, email them, go to bitcointalk and create a account, takes 5 seconds, and create a forum and hit up there rep he WILL answer you within the day and most likely fix your problem, im sure youve lost a fair amount of money....
dude, i must have emailed them 20 times and the refused to communicate with me. I had to contact ZipZap for a refund, after which they randomly sent me 25% less than what I deposited. they are shady as fuck
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If all these problems with bitinstant started around the time of the market fluctuations, then that likely explains it. Did the other reasonably quick btc exchanges (bitfloor, blue sky) start delaying orders too? If not, then bitnstant deserves to lose business for holding onto their coins instead of taking care of customers. I doubt anyone will ever use them again in times of uncertainty, especially if there are alternatives.
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So, thanks for sharing this, it helps people like me who have not used bitinstant and are looking for a better alternative. does anyone else have experience with other places like bitfloor? please share your experiences so we can learn who is good to use.
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I've used bitinstant before and they were great. So sad that they have to act this way. I hope more reliable alternatives join the game soon.
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Have their problems been solved or are they still scamming?
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I used BitInstant yesterday for the first time since all the bullshit went down. I accidently ordered them during the maintenance of SR and they still showed up without any problems.
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JUST DONT USE THEM! TIRED OF THIS DISCUSSION/DEBATE.
There are enough topics and reports of them completely screwing people out of there cash and then giving them the run around. A lot of accounts are being shut down left and right now and I'm sure BitInstant is going to be going down soon.
STOP FUELING THE FIRE! DONT RISK YOUR CASH FOR THERE SERVICE!
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People will stop using them once there are reliable alternatives. Are any of the MP -> btc vendors on here still worth using?
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Just used it today and had my coin within 10 minutes...now if SR would just come back up I'll be just dandy
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Deposited money on Monday and watched the order status , after a few hours it did not move from coinaplut api so i sent a email over using the form on the bit instant site and got a auto reply letting me know they got all my info. woke up Tuesday morning with a response and made some money on my coin....
Willing to use a bank deposit system if it didnt take so long.
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People will stop using them once there are reliable alternatives. Are any of the MP -> btc vendors on here still worth using?
Yeah, that cash deposit at Walmart or CVS and having your btc instantly is too tempting. Does anyone else offer this? Coz I can't stand that bank wire bullshit
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I used bitinstant for the first time today and all went fine.
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from my understanding everthing is running smooth again.. :D i hope cause thats all i use..
Is there any other sites where u dont have to use major banks like bitinstant? It looks like i may end up turning to btc sellers on here which I HATE TO DO... can someone give me a few sites like bitinstant where the options are the same BTC TO ADDRESS AND PAY BY CASH AND MONEY ORDER or close to it.. or at least no MAJOR banks.. Im close to 2 hrs away from major banks
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quickest ive got coins in awhile, its still good
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My take is that they are incompetent and are currently operating in Ponze mode. IE, you try to buy bitcoins but they can't deliver at that time because they use your money to pay their backlog of orders. They wait until the next guy tries to buy bitcoins and then they deliver your bitcoins using the new guy's money. Wash, rinse, repeat. They will of course ultimately fail.
They do that and other things. One shady thing that BitInstant does when the value of BTC is rising is to somehow "lose" your transfer until you contact them about it. They then claim that the transfer had an error and "must be put through manually".
The problem with that, is that after you get your BTC a day or two later, they will give you the BTC at the going market rate on the day that they finally pay you. BitInstant then pockets the money that was created by the rise in value of BTC in between the time of your purchase and the time of their delivery.
Example:
You pay BitInstant for 1 BTC valued at $10.
BitInstant "loses" your transaction and it must be "put through manually". The price of BTC increases over this time frame.
BitInstant finally pays you, but instead of giving you that 1 BTC for the $10 that you paid, they instead give you 0.5 BTC because BTC jumped in value from $10 to $20 over the course of this deal.
BitInstant bought that 1 BTC with your money, held it for a couple of days, shaved off the interest and then gave you BTC at the current market rate.
Fuck you, BitInstant.
They're supposed to honor the rate at the time of the deposit. But they only do that IF you complain about it. They treat that as a separate issue from not having received your coins. So basically, its send money, coins don't come, go complain, get assigned a support ticket, wait till they get to you, get less coins than you should have, and the problem is listed as solved according to them because you got SOME coins. Go home with your less coins.
If you have a problem with the rate they used to give you less coins, you'd have to go and complain again and they'll make a new support ticket and you'll have to wait for them to fix it, while they're fixing the initial problems of other people. All in all, it took me a week and a half to get this done after I ended up emailing the CEO a bunch of times
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Same as always I say screw BitlyUninstant. They slide you in with ease at first cause no one Ive heard of had problems. Start making larger deposits then u get that random error a friend got and lost in translation with bs emails half answered, and then it was resolved.... just three weeks later ... ? See other thread about bitcoin purchasing it higlight options I know of by Vegeta.. MP will always be a risk if you think someone will let 1000 bucks at 100 ramp to 290 or something and wont pocket it....
Bitinstant will be ur route though bc they can control that supply and demand.