Official Newbie BitInstant Support Thread (Active Customer Support)

[endlessdark]

More than 24 hours, I'm scared as shit!

[lifted1]

  Hello all, first time here, and it's obvious I'm not alone. .. I sent bitinstant $400 2 weeks ago today, received an email saying my funds were directly deposited into gox and there was no need for coupon code. At gox, I got "code is used or non existent" ( like I've seen others here have gotten ) . Several emails to Bitinstant have gotten me nowhere . I get passed off, ignored, told my email was sent to the CEO. Since when do CEOs deal with coupon codes and such? ANyway, its obvious to me now after finding this thread that it wasn't just me, which is kinda comforting .. ( ? ).  Bitinstant has stopped responding to me altogether.
   Can someone here please save me over 200 pages of reading and fill me in real quick on what's happening and if we'll be seeing our money. Can these guys really just take our money and walk away? Can't the better business bureau or something handle this in some way? What can I do to get my money back? Thanks guys.
   

[msiddiq]

 Hello all, first time here, and it's obvious I'm not alone. .. I sent bitinstant $400 2 weeks ago today, received an email saying my funds were directly deposited into gox and there was no need for coupon code. At gox, I got "code is used or non existent" ( like I've seen others here have gotten ) . Several emails to Bitinstant have gotten me nowhere . I get passed off, ignored, told my email was sent to the CEO. Since when do CEOs deal with coupon codes and such? ANyway, its obvious to me now after finding this thread that it wasn't just me, which is kinda comforting .. ( ? ).  Bitinstant has stopped responding to me altogether.
   Can someone here please save me over 200 pages of reading and fill me in real quick on what's happening and if we'll be seeing our money. Can these guys really just take our money and walk away? Can't the better business bureau or something handle this in some way? What can I do to get my money back? Thanks guys.
  

This post by the CEO is the official word: https://bitcointalk.org/index.php?topic=128314.msg1776479#msg1776479

Basically, they're swamped and URSAY here has been putting people in support lists numbered by date. He reads the thread, notes down peoples complaints (write your complaint with your email address and QuoteID/OrderID so you get on a support list) and then eventually someone with powers does something about it when they get to it.

Some people got what they wanted, and some people from support list for old dates still haven't got what they wanted. I ordered bitcoins to my bitcoin address via Moneygram on very early 4/7 and wrote about not getting my bitcoins on this thread and got on "support list 4/8". They sent me bitcoins on 4/8 but they were sent at the market rate of 4/8, so I got less BTC than I should have.

So I came on here again and posted my QuoteID, email address, and calculations for the remaining BTC at exchange rate at the time of deposit on 4/7, and got put on a "support list 4/9" to get the remaining BTC and now its 4/11 and still haven't got my remaining BTC...

[crazylikeafox]

 Hello all, first time here, and it's obvious I'm not alone. .. I sent bitinstant $400 2 weeks ago today, received an email saying my funds were directly deposited into gox and there was no need for coupon code. At gox, I got "code is used or non existent" ( like I've seen others here have gotten ) . Several emails to Bitinstant have gotten me nowhere . I get passed off, ignored, told my email was sent to the CEO. Since when do CEOs deal with coupon codes and such? ANyway, its obvious to me now after finding this thread that it wasn't just me, which is kinda comforting .. ( ? ).  Bitinstant has stopped responding to me altogether.
   Can someone here please save me over 200 pages of reading and fill me in real quick on what's happening and if we'll be seeing our money. Can these guys really just take our money and walk away? Can't the better business bureau or something handle this in some way? What can I do to get my money back? Thanks guys.
  

You can read a faster analysis of the situation here - https://bitcointalk.org/index.php?topic=155533.msg1689331#msg1689331

As far as whether or not you'll see your money, that depends.  The simple fact of the matter is that Bitinstant is running a deficit - know one knows how much or why.  They lost or took a huge amount of customer money at some point (or it's still going on).  What this means is that old orders are processed only when funds from new orders come in.  If there aren't enough new orders to process the outstanding ones, then orders don't get processed.  As long as the cycle continues, I suppose it will work.  Problem is, it's obvious from this thread and other sources that new orders are not covering the shortfalls by a long shot.  It's only a matter of time before someone calls the cops, and the whole thing comes to an abrupt end.  Make no mistake: Bitinstant was at one time legitimate, but is now nothing more than a Ponzi scheme.

[msiddiq]

 Hello all, first time here, and it's obvious I'm not alone. .. I sent bitinstant $400 2 weeks ago today, received an email saying my funds were directly deposited into gox and there was no need for coupon code. At gox, I got "code is used or non existent" ( like I've seen others here have gotten ) . Several emails to Bitinstant have gotten me nowhere . I get passed off, ignored, told my email was sent to the CEO. Since when do CEOs deal with coupon codes and such? ANyway, its obvious to me now after finding this thread that it wasn't just me, which is kinda comforting .. ( ? ).  Bitinstant has stopped responding to me altogether.
   Can someone here please save me over 200 pages of reading and fill me in real quick on what's happening and if we'll be seeing our money. Can these guys really just take our money and walk away? Can't the better business bureau or something handle this in some way? What can I do to get my money back? Thanks guys.
  

You can read a faster analysis of the situation here - https://bitcointalk.org/index.php?topic=155533.msg1689331#msg1689331

As far as whether or not you'll see your money, that depends.  The simple fact of the matter is that Bitinstant is running a deficit - know one knows how much or why.  They lost or took a huge amount of customer money at some point (or it's still going on).  What this means is that old orders are processed only when funds from new orders come in.  If there aren't enough new orders to process the outstanding ones, then orders don't get processed.  As long as the cycle continues, I suppose it will work.  Problem is, it's obvious from this thread and other sources that new orders are not covering the shortfalls by a long shot.  It's only a matter of time before someone calls the cops, and the whole thing comes to an abrupt end.  Make no mistake: Bitinstant was at one time legitimate, but is now nothing more than a Ponzi scheme.

Hmm, that makes a lot of sense

[Statesman]

Still awaiting my .19 BTC in quote difference.

Feel free to use the Quote address, or my signature.

[crazylikeafox]

Business Week is calling Charlie a "Bitcoin millionaire" - http://www.businessweek.com/articles/2013-04-10/meet-the-bitcoin-millionaires

If only his customers were so lucky as to get their money

[corvette77]

Ursay I am still waiting for my funds to be posted to my account. I deposited April 7th. I am on your April 9th list. How much longer is this going to take ? Last night I had a dream that my funds were posted to my account but when I logged on to my MX account nothing at all. A NIGHTMARE When

[corvette77]

Ursay I am still waiting for my funds to be posted to my account. I deposited April 7th. I am on your April 9th list. How much longer is this going to take ? Last night I had a dream that my funds were posted to my account but when I logged on to my MX account nothing at all. A NIGHTMARE When

Maybe we ought to give him a call on his cell phone. His number is out their on the web. Charlie Shrem.

[noname6520]

URSAY update on my funds. I have been waiting a long time

[corvette77]

 How does this effect BitInstant trying to post to our accounts? What you say Ursay ?

Due to these facts we have been busy working on improving things since last week and our team has been working around the clock to improve Mt.Gox to catch up with the demand. We will continue to release several updates today and in the coming few days to improve our system overall performance.  Also please note that we may have to close the exchange for two hours in the next 12 to 24hrs to add several new servers to our system.  Thank you for your understanding and continuous support! 
Regards
Mt.Gox Co. Ltd Team.

https://mtgox.com/press_release_20130411.html

[nonames456]

Hey URSAY, any updates on where the various lists are in the support process? I am on the 4/9 list myself

[Ace.]

Holy shit, I have money  

After a LONG and painful process, it's finally here!

Now do I dare risk doing another transfer  

Edit: suppose that solved that. Forgot that MtGox codes are now disabled 

[corvette77]

Holy shit, I have money 

After a LONG and painful process, it's finally here!

Now do I dare risk doing another transfer 

What dated list were you on ?

[chubbychecker]

Update:  Received an email from bitinstant saying my order was processed.

And it has been, somewhat...  Here's what I sent back:

Thanks, I received 1.6075 btc. About half of what I should have received. I entered $300 on the initial web page, but then entered $600 on the dwolla page. $600 was taken out of my dwolla account.  I ordered around the 180s, so it makes sense (300/1.6075)=186~.



Ursay, can you open a ticket for this issue?

[Ace.]

Holy shit, I have money 

After a LONG and painful process, it's finally here!

Now do I dare risk doing another transfer 

What dated list were you on ?

Original order: 4/3
Managed to get a ticket open: 4/4
Got put on URSAY's official support list: 4/6

[efini]

What can I do to get my money back? Thanks guys.
   

small claims, potentially class action if they decide to continue to selectively resolve issues


i'm about 3 hours away from submitting the paperwork to initiate small claims action in NYC. i'll gladly spend 1000x what they owe me to ensure that this debacle is a) entered into the legal system, and b) made public in alternative and mainstream media

[corvette77]

Holy shit, I have money 

After a LONG and painful process, it's finally here!

Now do I dare risk doing another transfer 

What dated list were you on ?

Original order: 4/3
Managed to get a ticket open: 4/4
Got put on URSAY's official support list: 4/6

Thanks I guess I have a wait I am on the 04/09 list. Another week or so.

[crazylikeafox]

Holy shit, I have money  

After a LONG and painful process, it's finally here!

Now do I dare risk doing another transfer  

Edit: suppose that solved that. Forgot that MtGox codes are now disabled  

Congratulations.  Enough money from new orders must have finally come in to fill your old order.  Let's hope at least some of those whose money they gave to you are as lucky.  Watching this thread is about the same as watching Satoshi Dice...some "win" a portion of their own money, some lose it all

[uncfan42204]

URSAY please get me my funds ive been waiting for a week
uncfan42204@aol.com
Merchant order ID
f50bd369-b3a6-4c3e-bf20-07303c4bff54
Customer account ID
878 288 406