Bitinstant Sucks!

[Arklatex]

gg

 

[kpitcher]

Are you a member of bitcointalk.org? I'd suggest a post there, it's the central discussion place for all things bitcoin and I have noticed that companies have responded faster when the PR hassles are making them look bad in public.

I see https://campbx.com takes dwolla however I have no experience with them.

 

[Kords21]

I tried to deposit to Mt. Gox through bitinstant on Friday, still haven't see my funds. I'm a patient guy and can be pretty understanding and to be fair this is the first time I've had trouble with Bitinstant. That being said, they've lost my business over this. On their website header they say "time is money" and I could 't agree more with that. Hopefully sooner rather than later my deposit shows up.

 

[evilfunnystuff]

Ive recently been using coinbase but it takes a couple days tfor initial setup and even then it takes 5 buissness days to recieve the btc after executing a buy but fees are super low about 1% total and your btc price is locked in from the second you buy. If you don, t need your coins immediately they are a great choice imo.

 

[Kords21]

I love coinbase for cashing out and after this fiasco with bitinstant, I'll happily go through coinbase to purchase BTC. The fees on bitinstant are so you can have your coins quickly that's the whole point of their business model, but they are failing specatacularly at that right now. I could have just gone through coinbase and probably had my coins by now.

 

[evilfunnystuff]

I love coinbase for cashing out and after this fiasco with bitinstant, I'll happily go through coinbase to purchase BTC. The fees on bitinstant are so you can have your coins quickly that's the whole point of their business model, but they are failing specatacularly at that right now. I could have just gone through coinbase and probably had my coins by now.

Ya the Winkelvosses better help them get their shit together to protect their investment in BI

My last BI transaction took a long time so I signed up at CB that night and im not generaly in a big hurry to recieve my coin these days so long as my rate is locked in IIm good.

 

[Kords21]

BI rightfully deserves to lose a lot of business over this. If you can't deliver on your basic business premise then I have no use for it. I can understand a few bugs with changing/upgrading something, but delaying payments for a week at the fees they charge for an instant transfer is unacceptable. I had a cash transaction with coinbase that for whatever reason didn't go through. I notified them and they refunded it plus a little extra for my trouble. I have to give coinbase two thumbs up so far.

 

[FSP-Rebel]

I'll be honest, I've heard of people having the occasional issue with bitinstant but they've always attempted to right any wrongs. Heck, the ceo even allowed Mark on FTL to give out his personal email address on the show, there's also freestaters in NH that work for bitinstant. Personally, I've never had any issue with them, I've always received my coins by the time I get home from CVS which is ~15 mins away and that is many dozens of purchases. That said, I'll be starting mining when my order comes in.

 

[Kords21]

Until now, I've nothing but success with bitinstant. This delay even though I'm paying to have coins as instantly as possible is unacceptable to me. I'm curious to see what if anything they'll do to make up for it. My issue with them aside, they're going to have to work very hard to rebuild confidence in their service after all of this. I'm going on day 5 but people on facebook have been delayed now for a week +.

 

[evilfunnystuff]

I'll be honest, I've heard of people having the occasional issue with bitinstant but they've always attempted to right any wrongs. Heck, the ceo even allowed Mark on FTL to give out his personal email address on the show, there's also freestaters in NH that work for bitinstant. Personally, I've never had any issue with them, I've always received my coins by the time I get home from CVS which is ~15 mins away and that is many dozens of purchases. That said, I'll be starting mining when my order comes in.

Ya, most of my BI transactions have been perfect. I only had 2 times where it was delayed, but that feels like alot. Both times I was still able to get in on the upswing but really missed out on the deep part of the dip whilst refreshing my page over and over.

I would still use them if time to actually receive the btc were an issue, but the fees are much lower at coinbase and I don't even have to go anywhere. I have the Bitcoin Paranoid app on my phone, with the alarm set on % fluctuation. When it goes off, if I got dough and like the price, I can log into a single site, and faster than I could have filled out the bitinstant form, bang I'm done. My btc are in escrow, at a locked in rate waiting for my payment to clear, and I can relax.

BI have done a great job proving a service not many could, but I think competition is coming, and if they wanna survive they are gonna have to step up their game.

 

[Kords21]

This being in limbo right now is not something I'm enjoying. As I've said, I understand that sometimes things mess up, I can be very patient. When it comes to paying for a convience like this and not seeing a result, that patience goes rather quickly. It is a shame, cause it worked pretty good before they tried this new Beta site of thiers. Unless they come out with something really great to make up for this delay which I doubt they'll do, I'll take my business elsewhere.

 

[evilfunnystuff]

I'll be starting mining when my order comes in.

Hopefully your an early order from BFL, the network hash rate is gettin outrageous, and the biggest asic player has only just started delivery on a year long list of pre-orders. It feels like like the calm before the storm.

 

[muh_roads]

That said, I'll be starting mining when my order comes in.

What did you order and what date did you lock in? Difficulty seems to be moving up at about 3 million per adjustment now. It used to take forever just to break through 1 million. Lucky early bastards.

 

[CyberTootie]

I've had no problems with BitInstant. One time I put in a wrong target account and it was rectified with support within a few hours.

 

[FSP-Rebel]

What did you order and what date did you lock in? Difficulty seems to be moving up at about 3 million per adjustment now. It used to take forever just to break through 1 million. Lucky early bastards.

I ordered the 25 gh/s machine and there really isn't a lock in date yet there is a target of 4-6 months but that can be affected by canceled orders and refunds so the queue isn't necessarily fixed. Also, I would imagine the higher end machines have priority over those ordering the 5 gh/s ones. Plus, these new ones from butterfly have been engineered to use lower electricity and as long as you join an upscale mining pool, you'll get more coin. The process to make these machines is what produces the time lags of so long. IIRC, it takes a week to make 2000 of them and that could only be the lower end models.

 

[amonasro]

I recently moved to campbx. You can fund your account instantly through Dwolla, although there is a 30 day waiting period after your first deposit to withdraw anything.

 

[anaconda]

I'm with Coinbase now. Relatively good customer service. Plus they charge only 1% when buying & selling BTC.