Silk Road forums
Discussion => Security => Topic started by: monkonarollercoaster on April 05, 2013, 01:38 am
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I don't know what to do about this in the short term and will eventually file a lawsuit if needed but they have thousands of my hard earned dollars which were supposed to be converted and sent to Mt Gox... BTC in less than an Hour? Not For Me! They are ignoring my messages and Mt Gox has been no help at all. Any suggestions?
BTW I have now lost additional thousands in profits from the trades I missed on the exchange. FUCK!
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Thousands? They have a daily limit, don't they?
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Sorry Charlie
I call BS on this.
No way they could have stolen 1,000 s you can't even transfer that much via bit instant.
Just another scare tactic!
Silly rabbit
Trix are for kids
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Now I will express my beef with BitInstant. One time, a transaction didn't go through. I emailed them, and they charged an extra 1% or 2% fee just for fixing the problem (which was an error with THEIR system on THEIR end.) They definitely are some money hungry jews in that respect. If your buying BTC doesn't go smooth, and if they have to get involved, they'll try to wring a few extra dollars out of you.
But if things go well, then things aren't so bad. OP, if you're buying thousands of $$ in BTC, I really don't think BI is the way to go about it.. I mean, their interest rate alone is taking around $4 per $100, right? Not to mention that if your problem mentioned in the original post were legitimate, then they're be charging an extra 1% to 2% on top of that, so at this amount of cash, they're banking in on your incompetence.
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Daily limit is $2000 and I will not say if this was in one or multiple days... not trying to give up my anoyn! I am seriously looking for advice. Why would tell me I'm full of shit? That's not nice of you at all when there is no basis for it especially.
Edit: AND you're a total dipstick for giving -1
Yes bitinstant is expensive but mt gox has had a 10 day wait for verification of accounts..
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You have to get in touch with Bitinstant.
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Well you can only do 500 per transaction. Why would you continue to try and push transactions through if the first never made it?
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I have emailed, called, and opened a support ticket but these have all essentially been ignored by bit instant either off the bat of just after the initial response which was always "we will be in touch soon" (simply no follow through).
I also opened a ticket with Mt Gox which was attempted to be closed since they perceive themselves as having no responsibility despite it was going to be deposited directly so I reopened that ticket..
@Bart that is the limit if you pay cash.. other transactions cal be made for $1-2000 at once and if you have paid attention to the market you would understand why I wanted to to do that as well as why I opened exchange and funding accounts which are waiting for approval since every one else has opened them too.
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Keep hitting the karma button asshole! That five times now? Lets go for 500!!!!
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@Bart that is the limit if you pay cash.. other transactions cal be made for $1-2000 at once and if you have paid attention to the market you would understand why I wanted to to do that as well as why I opened exchange and funding accounts which are waiting for approval since every one else has opened them too.
isnt cash the only thing they accept at the moment?
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Another option is going to bitcointalk.org's forums -- they have a few really long threads there full of people who have been waiting for days and weeks for their coins. But at least it gets more attention than emailing them. :-\
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Thanks Scout! It is very good to know that I might have another avenue available to get their attention and that of some others who might even be interested in class action (thinking out loud)..
If I could give karma which I can't yet then you'd get +5 to make up for what I lost by starting this thread. That guy must work for bitinstant or have some other directly profitable relationship with them to be so cruel.
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I think part of it is that there are enough people complaining about funds they haven't received that Bitinstant wants to address those issues more quickly since they're public where everyone can see.
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For future reference bitfloor is awesome. They allow cash deposits at the bank and i don't believe they have a limit.(possibly in the 10,000 range.) Thats of course if you put the whole being hacked for $25,000 thing behind them though. ;) I made a few recent successful transactions though.
All my bitinstant orders have been flawless. When dealing with money you aren't willing to lose next time make sure to know everything to avoid avoidable mistakes such as this.
Now I will express my beef with BitInstant. One time, a transaction didn't go through. I emailed them, and they charged an extra 1% or 2% fee just for fixing the problem (which was an error with THEIR system on THEIR end.) They definitely are some money hungry jews in that respect. If your buying BTC doesn't go smooth, and if they have to get involved, they'll try to wring a few extra dollars out of you.
But if things go well, then things aren't so bad. OP, if you're buying thousands of $$ in BTC, I really don't think BI is the way to go about it.. I mean, their interest rate alone is taking around $4 per $100, right? Not to mention that if your problem mentioned in the original post were legitimate, then they're be charging an extra 1% to 2% on top of that, so at this amount of cash, they're banking in on your incompetence.
Mind sharing how you get BTC for no fee? As far as i know you have to purchase BTC from someone, somewhere unless you're mining. And most(in my experience all) want a piece of the pie before sending it to you. Including Bitcoin-otc. I suppose you could have some personal connections.
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Lol I have nothing what so ever to do with bitinstant.
These fear threads are getting old. What happens is people go to sketchey sources because of threads like this and get scammed for real.
If I read your post right, you spread out your deposits over time. If the first one got screwed up then why for the love of god would you make another.
If you are real than go to the forum like scout suggested. Folks there do seem to get more attention and faster results.
If you are for real than bitinstant will figure out what happened and fix it. They have made mistakes and some here have had a problem here and there but they got resolved.
Btw I did not give you neg karma.
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Mind sharing how you get BTC for no fee? As far as i know you have to purchase BTC from someone, somewhere unless you're mining. And most(in my experience all) want a piece of the pie before sending it to you. Including Bitcoin-otc. I suppose you could have some personal connections.
No no no. I didn't mean to insinuate that I expected no fees. I absolutely expect fees when buying BTC. It's the norm, actually. But as other people have mentioned, other services only charge a 1.5% fee or somewhere around that range. bitinstant charges 3.99% if I am not mistaken, THEN if something fucks up, they charge you ANOTHER 1% or 1.5% on top of the 3.99% just to FIX the problem their system had with your purchase. That's the only beef I have with bitinstant. But really, it's the only service I have used since joining the road last year. I keep seeing mention of bitfloor and will check that out as well. But I am very conscious of my security and that of my funds.
These fear threads are getting old. What happens is people go to sketchey sources because of threads like this and get scammed for real.
I kind of agree, but I don't know that this is a scare thread, per se. I think the OP is just venting. Overall bitinstant is a legit coin buying service..but it does straddle the fence when it comes to those hidden charges if things don't go so smoothly.
But I can apply the same logic to them as I can apply here on the Road:
"It's a business, not a friendship."
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Mind sharing how you get BTC for no fee? As far as i know you have to purchase BTC from someone, somewhere unless you're mining. And most(in my experience all) want a piece of the pie before sending it to you. Including Bitcoin-otc. I suppose you could have some personal connections.
No no no. I didn't mean to insinuate that I expected no fees. I absolutely expect fees when buying BTC. It's the norm, actually. But as other people have mentioned, other services only charge a 1.5% fee or somewhere around that range. bitinstant charges 3.99% if I am not mistaken, THEN if something fucks up, they charge you ANOTHER 1% or 1.5% on top of the 3.99% just to FIX the problem their system had with your purchase. That's the only beef I have with bitinstant. But really, it's the only service I have used since joining the road last year. I keep seeing mention of bitfloor and will check that out as well. But I am very conscious of my security and that of my funds.
These fear threads are getting old. What happens is people go to sketchey sources because of threads like this and get scammed for real.
I kind of agree, but I don't know that this is a scare thread, per se. I think the OP is just venting. Overall bitinstant is a legit coin buying service..but it does straddle the fence when it comes to those hidden charges if things don't go so smoothly.
But I can apply the same logic to them as I can apply here on the Road:
"It's a business, not a friendship."
I agree with you there they should not charge people for resolving problems. I did not know they did that! That would piss me off too.
Yea bit instant is one of the more expensive ways to buy. They have kind of cornered a market because you buy with cash and get your coins faster than using an exchange. I that more services develope so that they will be forced to drop their prices. There is bitfloor but I don't have a BofA near me to try it.
Perhaps your right and it wasn't a trol thread. Guess if it happend to me I'd be loosing my mind too.
Some of the threads of late make me want to impale my self on a Sharp object lol. Guess I am having a bad day.
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Let me add my voice to the OP's.
I made a transaction for 100$ on January 22, and still have not received my funds. Nor have I heard back from Bitinstant support. If Bitinstand does fix this for me, I wonder what rate they will use for Bitcoin purchase.
I have had this happen before with Bitinstant last October. They did fix it after 6 weeks. I am definitely searching for a better way. :-\
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I received this by PM from a newbie (they can't post in this thread/section):
Bit instant is ripping off lots of customers for thousands. You aren;t the only one.
They have been reported to the BBB and NYC Attn Gen
Now that right there iis something a troll would say and as well they (this member included) would likely have only one post. That is not to say I doubt the info all too much except that there is no NYC Attourney General since it is Only an office of the States.. and the Federal government.
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dude, dont worry it will work out
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Best thing to do...Go on Bitcontalk, newbie thread, there should be a sticky with Bitinstant troubleshoot...Looks like they hired a new guy just to help handle issues and see to be moving quite fast...Just have your info posted on there and problem..By the looks of it though , everyone is having the same problem you are and it might take a while...I've been where you are and it was BS..Ask them to waive the transfer fee's..Thousands of dollars can save you some money.
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OP how long ago was this transaction? I have done around 4-5 transactions with bitinstant and NEVER have received Bc in 1 hour as stated. I email them over and over, no replies... But eventually (when convenient for them) they always send me an email back apologizing for the wait, the longest It's taken is 5 business days. They are a legit service, just not very professional. Good luck though, hope everything works out It sucks to get scammed =(
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I wonder about their legit status. If you have to use support over and over again to correct mistakes in their favor, which they also pay themselves to make...
Bitinstant may be the best available, but I won't argue they are legit.
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Way to go instilling confidence in the Bitcoin community guys with all these scare threads.
I have nothing to do with Bitinstant or any of these services but I see a simple solution to avoid any risk if it worries you-
Use a local wallet that runs on your PC/Mac/Server and buy your coin directly of reputable traders either face to face or by bank wire.
If you do this then you are always in full control of all your funds and I for one wouldnt have it any other way, especially when we are talking about larger sums of money (5,000-10,000 etc) - fuck trusting anyone with that amount of money if it can be avoided.
I think the beauty of Bitcoin is how "hands on" it can be, the fact that there is no need for any middle men or any banks or institutions.
TL;DR - If your worried about Bitinstant have you considered not using bitinstant? Bitinstant is not mandatory as a few people here seem to believe...
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Way to go instilling confidence in the Bitcoin community guys with all these scare threads.
I have nothing to do with Bitinstant or any of these services but I see a simple solution to avoid any risk if it worries you-
Use a local wallet that runs on your PC/Mac/Server and buy your coin directly of reputable traders either face to face or by bank wire.
If you do this then you are always in full control of all your funds and I for one wouldnt have it any other way, especially when we are talking about larger sums of money (5,000-10,000 etc) - fuck trusting anyone with that amount of money if it can be avoided.
I think the beauty of Bitcoin is how "hands on" it can be, the fact that there is no need for any middle men or any banks or institutions.
TL;DR - If your worried about Bitinstant have you considered not using bitinstant? Bitinstant is not mandatory as a few people here seem to believe...
Thanks, Life. I am not trying to either instill confidence nor destroy it, just provide my thoughts and experiences. :)
But I would consider your measures. Can you say more about setting up a local wallet, and dealing with a trader? As I said above, I am looking for a better way. Thanks in advance.
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did this ever get resolved?
i did a cash deposit today and didn't realize they were having issues like this. its been 2 hours and no action.
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I use SpendBitcoins and they have been great! ;D
They often have coins in my wallet within <3hrs of a cash deposit .. they say 'after 2pm it will be the next day'
BUT
Last week I deposited cash at the nominated nabk about 3:15 pm and they were in my account in 90 mins 8)
They are Oz based but I believe they trade all currencies :-\
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All you have to do to see what's going on with bitinstant is to read the threads on bitcointalk.org.
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All you have to do to see what's going on with bitinstant is to read the threads on bitcointalk.org.
could you be a little more specific?
i just did a forum search over there for "bitinstant" and it came back with 40 pages of results.....having a hard time finding any that are relevant to the problems that have been going on for the last week or so
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I don't spend much time there, so I can't recall off the top of my head, but there is a long, long thread where people still haven't gotten their coins after weeks of waiting.
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Thanks for sharing guys ... very informative.. i definitely won;t be using bitinstant any time soon.
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Thanks for sharing guys ... very informative.. i definitely won;t be using bitinstant any time soon.
Please don't let that be what you take from this thread. I have only ever had problems with BI once, and the OP obviously (if their story is accurate) used it for a far larger amount than for it was intended to be used. If you don't mind paying a 4% fee (on your dollar amount, not a 4% against your btc!) and you're not trying to buy $10,000 in Bitcoins then bitinstant is a quick, usually smooth service. I have always had my coins within 1 hour. Honestly usually within 20 to 40 minutes. The only exception being when something went wrong with my transaction, which, accidents happen.
I encourage you to use other options that people talk about, such as bitfloor. But don't completely rule bitinstant out. If there's a Moneygram nearby, you can literally have bitcoins within 45 minutes. But as with everything on Tor and SR, use caution and be cognitive of your privacy and security. Don't be afraid to ask around if you have questions. But don't let this thread scare you.
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Bitinstant has always been good for me
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Bitinstant ive ALWAYS gotten my coin in under 3 hours
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I have now been waiting over 48 hours for a measly $400 deposit. I have sent 5 emails, and opened a support ticket but have received ZERO communication from BitInstant.
I'm getting tempted to take a bus to New York and run up on their office demanding $400 in cash.
I will never, EVER, use BitInstant again.
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I concur with Joey. I used to use them all the time.
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Keep hitting the karma button asshole! That five times now? Lets go for 500!!!!
People can only give you one neg within a few days. So I guess at least 9 separate people felt sufficiently offended by your post to hit "discourage"
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The most sure fire way of accumulating meaningless negative karma on here is to in any way complain that you have been unjustly negged.
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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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I have less than half of my money now.... got some...
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i pushed $500.00 through 3 times today back to back......everything went smoothly for me...took a little over 2 hours from placing orders...till seen in SR account...
had a problem with BI once not too sure why but finally got my coins after 30 + hours LOL
it's a gamble ;)
Peace,
ChemCat
8)
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Whenever I have paid, it's always listed BI as being in San Francisco :^s
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Whenever I have paid, it's always listed BI as being in San Francisco :^s
ZipZap, the company that facilitates the cash deposits, is located in San Francisco. BitInstant is located in New York
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Sorry Charlie
I call BS on this.
No way they could have stolen 1,000 s you can't even transfer that much via bit instant.
Just another scare tactic!
Silly rabbit
Trix are for kids
You can make 4 transactions for $500 each, up to $2000 a day. I made 12 transactions (4 each day) consecutively after the crash ($55 a bitcoin) and have not received any correspondence or coin.
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Didnt you hear dude?! bitinstant is no longer a cash to coin company.. they just go around robbing people now... cant believe u didnt get that bullatin..
nah..
dude go to the forums on bitcoin talk, go for live help, email.... GET AT THEM
and they will respond and do u right, might take time, u will loose coin
but :"robbed"' no