Everything You Need to Know About BitInstant Wallet Future

PSA: More examples of Bitinstant's suspicious exchage rates

I know there was a similar post by u/psapsaps 3 days ago about this issue. I decided to take a chance and try it out anyway becase its the easiest and quickest way for me to obtain btc right now.
My first purchase was of $100 usd, + the $3.95 for zip zap they dont even warn you about.
purchase was executed around 2:30pm utc on 4/16. I got a confirmation email at 2:33 utc
mt.gox was at $65 +-$3
considering bitinstant fee of 3.99%, my deposit was of $96.01
i received 1.20595 at 3:52 pm utc at the rate of $79.61 , so theres that. Where were my bitcoins from 2:30 pm utc to 3:52 utc?
Well i decided it was worth another try just for the sake of getting more information.
today 4/18 at 1:05 pm utc i got a confirmation form zip zap that my second purchase (this time of $200) had been succesfully processed. Bitinstant emailed 3 minutes before that at 1:02 pm to confirm that my order had executed for 192.02.
at 1:07pm utc i receive 2.01639364 btc at the rate of $95.22
mt.gox had been at $92 +-$1 during the surpricingly short amout of time it took for my cash deposited at 1:00 pm utc to turn into bitcoins in my wallet at 1:07 pm utc.. but whats up with the exchage rate?
I just wanted to share my experiance with reddit about bitinstant so that everyone can make a more informed opinion about their service. If anyone has any information to prove that im an idiot, please share. i hope this is all an error on my own or on bitinstant part.
edit: At this url... well this:
"As regards bitcoin price: We will honour the price from the time your order was placed - but we will usually do so by sending you the difference manually with a fee refund after dealing with delayed orders.
Since price has recently dropped, it may in fact be in a lot of customer's interests to allow their orders to execute at current prices and this is what we would recommend."
-April 11, 2013 | Gareth Nelson
edit: added pm markers for utc time, I am in US central time
submitted by bitdetective to Bitcoin [link] [comments]

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With bitcoin, receiving money from your clients is very save, no fear of efcc, FBI or any financial crime institute will know about the transactions. Not like western union or money gram that can request for ID and some security numbers, bitcoin is not like that all you need is just wallet. Bitcoin is Fast. Charlie Shrem gründete 2011 gemeinsam mit Gareth Nelson die Bitcoin-Börse Bitinstant. Ihnen dauerte die Transaktionszeit bei anderen Börsen zu lange und sie entwickelten ein ... It was back in 2011 that Gareth Nelson and Charlie Shrem had an idea. With the rising popularity of Bitcoin and cryptocurrencies in general, there was a growing demand for compatible technologies. People wanted platforms they could use to exchange Bitcoin on, and this is exactly what these two men aimed to create. The company set up the system to allow people to purchase Bitcoins through ... When Gareth Nelson and Charlie Shrem founded BitInstant in 2011, they hoped this exchange would become one of the top companies in cryptocurrency. However, regulators shut down the exchange in 2013. Even though BitInstant did receive a good bit of funding and experienced rapid growth, its demise was swift. Let’s look at what led to the fall of BitInstant and try to think about what we can ... Soon after, the Bitcoin service Shrem was using crashed, and he lost his bitcoins. Shrem and Gareth Nelson, a friend he met online, had similar frustrations with the length of time it took to buy and sell Bitcoin on exchange sites. They started BitInstant, a more user-friendly company that charged a fee for users to purchase and make purchases with bitcoins at over 700,000 locations, providing ...

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