Topic: Any o ther way to get cash on mtgox to paypal? Bitinstant down (Read 6925 times)
I still don't understand why you're asking for USD amounts when transferring from BTC to Paypal or ACH...
Doesnt matter MTGox to paypal is down.
and probably other things. I was really counting on BI, Really dont understand why they took such a refined site and decided to replace it with a coding nightmare.
If you'd like to access the old site you can do so at old.bitinstant.com
Doesnt matter MTGox to paypal is down.
and probably other things. I was really counting on BI, Really dont understand why they took such a refined site and decided to replace it with a coding nightmare.
How are you supposed to use services like BitInstant, anyway? If you try to send Bitcoins to a Paypal or bank account (ACH) they ask for amount in USD. That makes no sense...
Our system internally only deals with USD, the new bitcoin payment method simply sends BTC to a partner who sells it on our behalf for X amount of USD.
So I just put in the USD amount I think my BTC is worth? Where do I put in the actual number of BTC?
One thing to note:
FastCash4Bitcoins had a better set up (IMO).
They constantly update their current available balance in BTC to USD transfers, only offering up openly how much cash they actually do have in reserve. The amount available at any given time is seemingly divided by the number of orders there are among checked out users.
So the balances are always not round numbers.
------------
BitInstant though, they always keep either a round number (500) or they don't show any number (out of reserves).
So when they (BitInstant) probably has a heavy day of sales, they "over sell" the capacity of reserves.
Thereby always opening the door to complaining customers who have to wait *days* for BitInstant to fill up reserves with Bank Transfers, money that clears at an exchange and gets reloaded into reserve account(s).
It does seem to keep happening every couple of weeks these days. It also explains why users are attended to at different days rather than all on the same day and hour.
Meaning there is probably a finite financial pipe that BitInstant seemingly has that restricts how fast they can refresh their reserves. If I recall correctly, they even admitted this the last time it happened. Supposedly it was going to get fixed....
FastCash4Bitcoins had a better set up (IMO).
They constantly update their current available balance in BTC to USD transfers, only offering up openly how much cash they actually do have in reserve. The amount available at any given time is seemingly divided by the number of orders there are among checked out users.
So the balances are always not round numbers.
------------
BitInstant though, they always keep either a round number (500) or they don't show any number (out of reserves).
So when they (BitInstant) probably has a heavy day of sales, they "over sell" the capacity of reserves.
Thereby always opening the door to complaining customers who have to wait *days* for BitInstant to fill up reserves with Bank Transfers, money that clears at an exchange and gets reloaded into reserve account(s).
It does seem to keep happening every couple of weeks these days. It also explains why users are attended to at different days rather than all on the same day and hour.
Meaning there is probably a finite financial pipe that BitInstant seemingly has that restricts how fast they can refresh their reserves. If I recall correctly, they even admitted this the last time it happened. Supposedly it was going to get fixed....
How are you supposed to use services like BitInstant, anyway? If you try to send Bitcoins to a Paypal or bank account (ACH) they ask for amount in USD. That makes no sense...
Our system internally only deals with USD, the new bitcoin payment method simply sends BTC to a partner who sells it on our behalf for X amount of USD.
User Pays BTC @ -5% Mtgox price > BitInstant Acknowledges the Transaction > MtGox Sells the BTC @ 100% to USD > BitInstant Transfers USD from it's reserves pool to the Customer via Paypal Or Bank Transfers.
At a specific time of the day, the MTGox USD are then probably converted in part (95%) to BTC while the rest stays in USD.
Then begin the entire cycle again. In a few hundred rounds you'd easily make a million without much effort from all the automation.
How are you supposed to use services like BitInstant, anyway? If you try to send Bitcoins to a Paypal or bank account (ACH) they ask for amount in USD. That makes no sense...
Our system internally only deals with USD, the new bitcoin payment method simply sends BTC to a partner who sells it on our behalf for X amount of USD.
How are you supposed to use services like BitInstant, anyway? If you try to send Bitcoins to a Paypal or bank account (ACH) they ask for amount in USD. That makes no sense...
They gave up.
ffs, even old website as enkrates said is fubar.
ffs, even old website as enkrates said is fubar.
*.bitinstant.com, it's ok, we've all done it 
Unfortuately, https://old.bitinstant.com gives this SSL error in Firefox:
"old.bitinstant.com uses an invalid security certificate.
The certificate is only valid for the following names:
www.bitinstant.com , bitinstant.com
(Error code: ssl_error_bad_cert_domain)"
PM'ed ya.
Included pics so u can see whats goin on
Try it on our old site:
https://old.bitinstant.com
https://old.bitinstant.com
im working with Gareth ATM,
I swear BI has the best customer service sometimes.
Seems i can do the transaction now but the transaction fails after your redirected to MTGox,
Anyone else tried this?
I swear BI has the best customer service sometimes.
Seems i can do the transaction now but the transaction fails after your redirected to MTGox,
Anyone else tried this?
try a ban transfer its the cheapest and easiest way.
Im sorry im a little slow,
"Ban" transfer?
Guessing he meant "bank"
try a ban transfer its the cheapest and easiest way.
Im sorry im a little slow,
"Ban" transfer?
try a ban transfer its the cheapest and easiest way.
sent PM
Went ahead and PMed gareth.
Again the short story,
I tried to register with a permanent account, I got to the "Authentication page" where you prove its you, and no matter how i answered it said i was wrong. lol.
Questions like "where was i born, what street did i live on once, what zip code did i live in" questions i know..
It failed and said im blocked from trying to 1 week,
So i said screw it ill use guest account, Well now when i enter in my info, Name, Phone #, email, and hit transfer, i get this:
The Identification information provided is associate with an existing account, please log in if this is your account or contact us at [email protected] for more information
So basically im locked out of using anything on bitinstant
Again the short story,
I tried to register with a permanent account, I got to the "Authentication page" where you prove its you, and no matter how i answered it said i was wrong. lol.
Questions like "where was i born, what street did i live on once, what zip code did i live in" questions i know..
It failed and said im blocked from trying to 1 week,
So i said screw it ill use guest account, Well now when i enter in my info, Name, Phone #, email, and hit transfer, i get this:
The Identification information provided is associate with an existing account, please log in if this is your account or contact us at [email protected] for more information
So basically im locked out of using anything on bitinstant
There site is so screwed up its not funny,
Whatever person they had programming that site must have been a high school dropout.
If you try to register, you cant authorize the account, Then if you yry to use the guest account, If says "the info you entered matches a registered account, please login,
BUT YOU CANT LOGIN BECAUSE ITS NOT AUTHORIZED
Ive sent 5 support emails and noone has helped, All i get is some bullshit premade response
Whatever person they had programming that site must have been a high school dropout.
If you try to register, you cant authorize the account, Then if you yry to use the guest account, If says "the info you entered matches a registered account, please login,
BUT YOU CANT LOGIN BECAUSE ITS NOT AUTHORIZED
Ive sent 5 support emails and noone has helped, All i get is some bullshit premade response
Can you PM me with the account details you provided so this can be checked into?
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