Silk Road forums
Discussion => Security => Topic started by: TurboBunny on April 10, 2013, 05:23 am
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:o ~ Friendly Public Service Announcement ~ :o
Ive been following The Bitinstant cluster fuck very closely for the last couple of days as I myself have been looking recently to making my first bitcoin purchase, and while i may be a newb to buying bitcoin I am no noob in the world of researching what I am getting into, actually "listening" to what people are saying , and understanding what is going on.
All i can say now is it "sounds" as if Bitinstant are a bunch of frauds at "current", there are conspiracy theories flying all over reddit, from them not having the actual money to transfer, to transactions being lost entirely, to the system being fucked after the hacking that occurred... see below.
http://www.wired.com/wiredenterprise/2013/03/digital-thieves-pull-off-12000-bitcoin-heist/
I think its all related, maybe there randomly choosing transactions to lose/hold to remake the lost money (as in they deposit your money in THERE account at current exchange and make your profit as values increase ), maybe their system is comprised, maybe they were not prepared for the influx of volume, whatever the case may be what matters is that currently A LOT of people are missing money and all they are doing is lieing more and more, and theres not a whole lot we can do to hold them accountable ( its cryptocurrency), and it hurts to say, they know it... ( I heard a figure on Sunday that 12,000+ people were waiting on cash transfer verifications from BitInstant to Mtgox ) :-\
The forum over at reddit is a variable mass complaint forum
http://www.reddit.com/r/Bitcoin/comments/1c08ju/we_can_trust_bitinstant_again_fyi_bitinstant_is/
^ this is a lie tho, scroll down to see the mass complaints filing in
As well as the official Bitinstant Support Bitcoin forum at
https://bitcointalk.org/index.php?topic=128314.0
To save you the reading (but with the provided sources) you can see the droves of individuals listing full account details, transaction dates, funds transferred looking for help and then the Bitinstant Support Techs lieing about " Manually Pushing Thru" their transactions. As the same individuals who have been told thee funds are being pushed thru are still waiting 18+hrs later. They are trying to save face but it may be too late...
I for one am Sorry to hear this, as i was excited for the ease of cash to BTC
Anyone else know a good cash to mtgox route?
If you have had direct first hand experience with BI in the last week we would love to hear your story...
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If you're in the States and there's a Bank of America in your area, I' d recommend BitFloor once their LocalTill gets their shit together and clear up the backlog of deposits they've recently had due to the rapid increase in buyers. Even with the minor hiccup, as long as it doesn't continue, I'd recommend them because I've had many successful transactions with them.
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There are vendors on the main site that sell coin for cash.
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There are vendors on the main site that sell coin for cash.
Yeah but there is absolutely ZERO security by doing that.. none
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There are vendors on the main site that sell coin for cash.
Yeah but there is absolutely ZERO security by doing that.. none
How do you mean?
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DO NOT USE BITINSTANT. You'd get your coins, but whether or not you get them in minutes like you should is a coin flip.
Bitfloor, Bitcopia, Cryptocurrent, and Cashintocoins are all good options. I like bank deposits better anyway.
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There are vendors on the main site that sell coin for cash.
Yeah but there is absolutely ZERO security by doing that.. none
How do you mean?
He means there is NO ESCROW PROTECTION when buying coins here, AND scams are often used to get folks moneypacks, etc.
Also, if you're using anything but actual cash, the money trail leads back to you.
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Bitinstant have always been shady as fuck tbh. I'm surprised anyone carried on trusting them after all the last set of problems
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Bitfloor, Bitcopia,
These two
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That's so weird. Bitinstant has been my exclusive source of BTC since September. On the times when they are down, I'm fucked. I've logged at least a dozen transactions with them, totaling over $5k and have never once had an issue. My BTC have always posted in less than an hour.
It makes me really nervous to hear all this bad talk about them! Last transaction I posted with them was a week ago... That one went fine just like all the others have...
There is no BoA where I live. There used to be someone who would do Wells Fargo (CaptainMal) but they got out of the BTC business...
What alternatives are there for people like me who don't live near a BoA?
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We're gonna have a little party at Charlie Shrem's bar this Saturday:
http://dkn255hz262ypmii.onion/index.php?topic=145706.0
the goal is total and utter anarchy that would scare even the most hardened punk rockers.
come help us tear this mother down!
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@finally55
I'm with you. No BoA anywhere nearby. I've been using Bitinstant (via Moneygram) a lot without any major problems. In fact I just used them today before I came here to read about all the problems. And I did get my coins quickly with no problem. The only time I ever had an issue with BI was last year, some coins didnt arrive after a few hours, so I emailed them, and got a quick reply from Charlie and a few hours later my coins arrived, still same day.
But now I'm also worried to use them anymore based on all the posts here. Think I'll take a look at some other exchanges. I keep hearing good things about Bitfloor & Bitcopia but havent checked them out myself. Just really hoping for someplace as relatively fast as BI.
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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