Silk Road forums
Discussion => Off topic => Topic started by: Tommyhawk on October 29, 2012, 03:11 pm
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I have been depositing substantial amount of money safely through Bitinstant->Bank Deposits->MtGox.
I went to go initiate a deposit over at bitinstant today and it appears they've disabled Bank Deposits. Now when I go to make a deposit, their middle man service is different(no longer trustcash) and they only offer places that require you to ID yourself, places like walmart, CVS.
Sometimes I could easily do up to 4 figures a week($1000-10,000) a week through banks as they would never need to ID me, but now there seems to be no other option.
I know I am not the only who has used bitinstant cash bank deposits....any clue why they have made this unannounced change? Even with the remaining options(to MtGox) that they have, there seems to be a limit around $300 or so per transaction, which is rediculous. I cannot make 10 different transactions in a single day that require me to ID each time....
I've been considering leaving SR and putting these days behind me, but I didn't want it to happen so soon. Anyone have any clue why these unannounced changes to Bitinstant have occured, and any work arounds?
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damn that really sucks, just earlier today i checked and it was still available
i wonder why it was removed too
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i still see under transaction limits that it says 500 for most, 1000 for cash bank deposits. it is also still listed under the fees and locations
there may be an issue with the bank deposits, like trustcash is having technical problems currently - in which case it wont be listed as an option. i really hope it may just be temporary and that it will be an option again soon. i should have placed my order earlier when i checked - i too was planning on getting coins soon using the bank method so this is depressing. never used the other methods and dont like the ID
someone mentioned walmart wasnt IDing recently, possibly that hasnt changed?
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Cvs doesnt id if youre using moneygram but it still sucks...I do hope bank deposits get fixed.
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Is money gram at CVS different than the another CVS option?
because all the posts i have read about being carded was only at CVS actually
i cant find anything online about the change, its frustrating
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I often have to do up to $2000-$3000 per transaction, and the bank is the only place that will allow me to do such large amounts of money without asking for ID.
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I miss the straight to Bitcoin address option but Moneygram to Mt. Gox has been working just fine. You can decide yourself if you want to route it through some othe BC wallet or send it directly from Mt. Gox to SR. I know SR's tumbler is pretty good so I just transfer my BC directly.
I got two different responses when I tormailed support:
First was this:
"TrustCash is no longer providing Bitistant with payment services.
TrustCash LLC
Kent Carasquero,President"
Then today I got an email from Bitinstant saying that it seems to possibly be a technical glitch. So now I don't know what to think.
RE: CVS and other Moneygram locations: I always get asked for name address and telephone # but I've never been asked to show ID so I just come prepared with fake info. So far no problem at all.
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Is money gram at CVS different than the another CVS option?
because all the posts i have read about being carded was only at CVS actually
i cant find anything online about the change, its frustrating
Probably. Moneygram is mostly over the phone inside cvs and then you pay at the cashier. Have a fake name number and address ready for the moneygram call.
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I just returned from a month long hiatus, and this is not what I wanted to hear. Bitinstant cash --> Bitcoin address was my main method of buying bitcoins. It was anonymous, fast, reliable, and had decent rates. I'm devastated to hear that this is no longer an option, even if its for the time being. I'm currently trying to sort out a way to buy more bitcoins, but even BlueSkyTraders isn't accepting orders for their bitcoins right now due to the SR connection being sketchy for them. I'm located in the US, and Bitfloor used to be an alternative I could use. It's currently not accepting cash deposits right now as well, so I'm really trying to figure out an alternative. I flat out refuse to use a service in which I need to provide personal information, so most all other routes of attaining Bitcoins are out of the question. Here's to hoping there's some other option out there.
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All places mandatory ask you for a Name I'm pretty sure, which is easily faked. The problem is, when you exceed a certain amount, they require that you verify ID.
TalkingHead,
Out of curiosity, how much $ do you use at moneygram per transaction?
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shit, if the president of trustcash said they are no longer providing service to bitinstant then its seems it will no longer be an option unfortunately
that is so disappointing
thanks for sharing though TH + 1
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I haven't spent more than $200 at a Moneygram at one time. Again, they asked for a name, # and address. One time I made up a # with a local exchange then did a reverse lookup for the matching address and made sure it wasn't too close to the Moneygram location (all I need is someone there who just happened to know the address) but they never even checked so that turned out to be overkill. I guess if they want to see a driver's license or something I would just say I left it in my car, then leave the store and not return.
By the way, even if you pick a specific Moneygram location (CVS, Walmart, 7/11 or other) you don't actually have to go there. Any Moneygram location will process the "bill payment". Just bring in the Zip Zap payment slip that you get through Bitinstant and there's no problem.
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does that mean you need a working printer?
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It is bizarre that one party says they are no longer accepting payment via BitInstant but then BitInstant says there's a bug. Maybe BitInstant is trying to play down the issue.
Seriously, <$300 limit on cash deposits is just ridiculous.
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You don't need a printer at all. You can just hand write all the info and bring it in.
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thank you, i appreciate you answering my question. i was about to very frustrated :)
in a few days i will give you another + 1 when i am able for your help if i remember
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I just checked on Bitcoin Talk forum and apparently one of their members is Co-Founder of BitInstant or something and he said the following:
Yankee (BitInstant)
Hero Member
Online
Posts: 2028
Co-founder, CEO at BitInstant
Ignore
Re: BitInstant Back Online – All is well
Today at 05:05:38 PM
#9
Quote from: dscrib on Today at 04:33:26 PM
But it looks like cash deposits to major banks are no longer supported?
Working on getting it back up!
Bolded text the significant part.
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Check my profile for an alternative.
:)
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I just used Walmart's moneygram option. Used a fake name, address, phone number and was never asked for ID. The only thing the lady asked me was if I had done this before.
I believe there is a limit on how much you can deposit through moneygram. $1000 I want to say?
I actually felt a lot less sketchy at walmart (especially since there were several people in line doing the same thing) compared to going to the bank.
It didn't take long, maybe 10 minutes (of course there were people in line in front of me and the computer was going slow for the lady that processed my transaction)
The bitcoins were in mtgox by the time I got home and I don't live more than 20-25 minutes away. So hey...not bad.
It may be a feasible route for me at least. Hope this can help in some way for the OP and others.
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Eh the nearest walmart to my house is in the hood and I don't feel particularly comfortable going in there with $5000 cash on me....let alone more than $400.
The moment I pull it out there's nothing stopping some greedy SoB from reaching over the counter and running, he'll easily get away, as the Money Transfer places are near to the entrance.
At least with the bank I can go through the drivethrough....
Please, if anyone gets any new information, please post it. I really hope they resolve this issue. Grrrr
Edit:
I got some information & insight from a vendor of mine....the huricane may have something to do with all of this. He said:
i'm betting that the hurricane has a lot to do with it, businesses are shutting down because of power outtages and such....i know for a fact that BitcoinsDirect is on hold because of power outtages....
So who knows what's really going on... only time will tell
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Tommy - running that much BTC you might be better off getting a good vendor on SR to do your BTC business with. Personally, I'm not sure I'd feel comfortable walking regularly into a local bank or drive through with a few grand in cash - that doesn't sound like a typical bank teller transaction to me. It might raise an eyebrow or two.
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Hey Silk Roaders...
I know I am still a bit of a noob here in the forums, but I had been doing some homework on Bitcoins... I was looking forward to doing the cash deposit to route some BTC into my Mt Gox and from there proceed to my SR acct. But I take it this is out of the word. I was reading here that there are quite a few that aren't too comfortable going the moneygram route... Just curious if this is a major issue or no biggie if I'm only planning to purchase $100-$200 of BTC at a time... Thoughts?
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Hey Silk Roaders...
I know I am still a bit of a noob here in the forums, but I had been doing some homework on Bitcoins... I was looking forward to doing the cash deposit to route some BTC into my Mt Gox and from there proceed to my SR acct. But I take it this is out of the word. I was reading here that there are quite a few that aren't too comfortable going the moneygram route... Just curious if this is a major issue or no biggie if I'm only planning to purchase $100-$200 of BTC at a time... Thoughts?
I've done it at CVS. Like a schmuck I gave them my real info the first time I did it. I wasn't expecting them to ask for my damn life story on that red phone (they ask for a fucking lot of info) and I was caught off guard. I can say that I was most certainly asked for ID at the counter, and that the lady did more than just briefly glance at it. Don't recall if she looked at the screen to check the name or not, but she definitely inspected it briefly.
Nobody's come knocking at my door, and no police have shown up to serve warrants. I certainly wouldn't recommend making a habit of doing that, but I can tell you that I haven't had any indication that I'm going to suffer for it.
Which I may. But I haven't yet.
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As far as ID goes for moneygrams.
It actually depends on the state you live in. Its for tax purposes, I believe. I live a few miles from the border between two states, and have made many Moneygram deposits in one state without a single ID check. I was across the border for some reason or another, and tried to make a moneygram deposit at several different moneygram locations, and every single one refused to do it without an ID.
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I did a little bit of research folks, BitInstant is located in New York City, so my guess is the storm has something to do with it, but I could be wrong.
Tommy - running that much BTC you might be better off getting a good vendor on SR to do your BTC business with. Personally, I'm not sure I'd feel comfortable walking regularly into a local bank or drive through with a few grand in cash - that doesn't sound like a typical bank teller transaction to me. It might raise an eyebrow or two.
Remember, bank tellers are people to. I am on friendly terms with them and have done more transactions in 6 months that is greater than almost double someones yearly income - well into 6 figures. The bank tellers know me well and I am very open to them. They're only going to be suspicious if you act like you're doing something wrong or hiding something. Remember, be open, be friendly, bank tellers are people to.
Bringing money to a bank, or any amount, is NOT reason to be suspicious of anyone. It's a bank. While a good majority of the people who use banks aren't super wealthy, there ARE a few super wealthy people out there who visit the bank regularly. Seemingly like one of them is not a reason to be suspicious of you. Seeming suspicious is a reason for someone to become suspicious of you.
If you're making deposits for drugs, dont go in there looking like a druggy, put dress clothes or a suit on and make yourself look like a million bucks. Appearances are everything, and this includes how you act. Bringing any amount of money into a bank is NEVER a reason for them to become suspicious of something, 99% of the time appearances and how you act ARE. And always have a legitimate back-story that can survive any questions they ask, or have legitimate friendly reasons to why you cant reveal certain information. This way it is very easy to seem like the average friendly bank-goer. Think as if you're doing something legal and don't reveal any information the average legal activity person wouldn't reveal - depositing money is no reason to give up your privacy...and remember, BE FRIENDLY AND OPEN.
If you ever observe average bank users or people that go in there, you would be surprised about how many of them are dickheads or inconsiderate assholes with little respect for the person doing their job. Friendly people are a blessing to bank tellers, trust me, being one of them will get you very far. There are some shit people who use banks, people who hate their lives, and these vibes rub off on the bank tellers, and it doesn't make them feel very comfortable. Be friendly, open, and try not to dress like an asshole and any reason to be suspicious of you will vanish.
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We wanted to provide a quick update to our users and the community regarding BitInstant’s inbound and outbound payment methods, which have recently changed.
What changed?
Cash deposits via banks has been suspended
Payout to Bitcoin and email addresses (via Coinapult) has been suspended
The cash deposits to banks have been suspended as we’ve had a number of problems with our partner.
Until these problems are resolved, we won’t be accepting the cash deposits at banks.
It’s always been our intention to diversify away from the banks, regardless. Indeed, cash deposits are
still available via our non-bank retail locations (Walmart, 7-Eleven, CVS, etc.). Further, we are very close
to adding a host of new payment locations (non-bank) and some very exciting new payment methods
that are far superior to the bank deposits.
Regarding the removal of the payment option to Bitcoin and email addresses (via Coinapult), we know
this is highly inconvenient for many of you. Coinapult is currently building a new, far more advanced
system which acquires and sends coins out to customers, and when this is done, the feature will be
back.
Additionally, this will mean better prices for BTC conversion, faster transactions, and a more diversified
exchange environment (less reliance on one single exchange).
So, please bear with us during these growing pains over the next week or two.
TL;DR
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+ For cash deposits, you need to use the retail locations (not the banks) for now
+ Coinapult features (pay to email or Bitcoin address) will be back in a week or two
+ Exciting new payment methods are imminent (more cash locations plus something even more special)
+ When Coinapult is back, exchange rates will be better, with less reliance on one exchange
Thanks!
-The BitInstant Team
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Oh poop well that's a bummer...time to do some learning about new methods then.
I just recently tried to do some MoneyGram transactions through bitinstant and it wont get past the first page. Stops me saying that my transaction is unable to be processed. It was only for $950.
I went back and saw $500 for all transfers, so I tried to input $450 instead and that could not be processed either :/.