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Author Topic: There has to be a better way (getting USD to BTC)  (Read 4507 times)
Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem


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January 27, 2013, 03:31:10 AM
 #61

Have you tried ?

I advise caution when using BitInstant there have been varying reports of selective scamming.

Who are you??

There have been reports of system glitches and user error that have been resolved.

Please point to a bitinstant scam report.

I'm eager to see a scam report as well...

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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January 27, 2013, 03:53:35 AM
 #62

I've only used Coinbase to sell bitcoins but I'd assume the buying process is just as smooth.  Put in an order, money comes in via ACH transfer, Bitcoins deposited to your account.  They do have a relatively low limit (you can only initially buy 10 BTC/day; I don't know what the limit increases to since you need to complete a purchase first) but I'd trust them as they're a Y-Combinator funded company.

I've used BitInstant/Dwolla for all my BTC purchases (>10 BTC) and haven't been impressed because every time the order "fails dwolla verification" and needs to be manually processed by the BI staff.  Granted a few of my purchases were over their $500/tx limit (which doesn't seem to be enforced in software) but I had the same problem with orders under $500.  BitInstant's BTC/USD exchange rate also always seems higher than MtGox's.  I recently opened and verified an account on MtGox and will probably use that w/ transfer from Dwolla from now on.

Either way I agree with the OP that there need to be easier ways to buy bitcoins.  The current methods are simply too slow and/or annoying.  Unfortunately there's just too high of a risk for anyone to accept credit cards for BTC and I don't think there's any way to speed up ACH transfers.
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January 27, 2013, 01:58:38 PM
 #63

Either way I agree with the OP that there need to be easier ways to buy bitcoins.  The current methods are simply too slow and/or annoying.  Unfortunately there's just too high of a risk for anyone to accept credit cards for BTC and I don't think there's any way to speed up ACH transfers.
There is an idea that's been floating around for a few years but hasn't actually happened yet:

https://bitcointalk.org/index.php?topic=20135.0
https://bitcointalk.org/index.php?topic=53765.0
https://bitcointalk.org/index.php?topic=93294.0
https://bitcointalk.org/index.php?topic=108763.0
https://bitcointalk.org/index.php?topic=128919.0
dogisland
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January 27, 2013, 03:32:38 PM
 #64

Bitcoinary - It's in my sig.

Deal with people directly lots of deposit options and lots of currencies.
Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem


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January 27, 2013, 05:47:02 PM
 #65

...I don't think there's any way to speed up ACH transfers.

Wait and see....  Grin

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More about me: http://CharlieShrem.com
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January 27, 2013, 05:48:21 PM
 #66

...I don't think there's any way to speed up ACH transfers.

Wait and see....  Grin

Still waiting on those Bitinstant Paycards.

5 months later...still nothing. I see a pattern here.  Cheesy

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LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
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January 27, 2013, 05:48:53 PM
 #67

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

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January 27, 2013, 06:07:03 PM
 #68

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Not only that but Bitinstant doesn't advise you to change the amounts if you are transferring > $1000 in $500 increments. Example: $500, $499.75, $499.50...etc.

Wasted like 6 hours trying to figure out what was wrong. In my opinion all the pitfalls of their system need to be well documented and put on their website.

1 hour my ass lol

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. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
LEALANA  PHYSICAL MONERO COINS 999 FINE SILVER.
 
Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem


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January 27, 2013, 06:17:04 PM
 #69

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Not only that but Bitinstant doesn't advise you to change the amounts if you are transferring > $1000 in $500 increments. Example: $500, $499.75, $499.50...etc.

Wasted like 6 hours trying to figure out what was wrong. In my opinion all the pitfalls of their system need to be well documented and put on their website.

1 hour my ass lol

Agreed, we've had alot of suggestions like these in the past few weeks. So, we have a solution that should be rolled out very soon.

Thanks!

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
smoothie
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January 27, 2013, 06:18:37 PM
 #70

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Not only that but Bitinstant doesn't advise you to change the amounts if you are transferring > $1000 in $500 increments. Example: $500, $499.75, $499.50...etc.

Wasted like 6 hours trying to figure out what was wrong. In my opinion all the pitfalls of their system need to be well documented and put on their website.

1 hour my ass lol

Agreed, we've had alot of suggestions like these in the past few weeks. So, we have a solution that should be rolled out very soon.

Thanks!

Looking forward to it Charlie  Smiley

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        ▀▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▓▀       
           ²▀▀▓▓▓▓▓▓▓▓▓▓▓▓▀▀`          
                   ²²²                 
███████████████████████████████████████

. ★☆ WWW.LEALANA.COM        My PGP fingerprint is A764D833.        SMOOTHIE'S HEALTH AND FITNESS JOURNAL          History of Monero development Visualization ★☆ .
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redbeans2012
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January 27, 2013, 07:00:10 PM
 #71

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.

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Charlie 'Van Bitcoin' Shrem


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January 27, 2013, 08:02:52 PM
 #72

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.



There are instructions on the back of the slip for the merchant. The merchant needs to enter 0 moneygram fees since its included already. That's probably why it failed.

Next time, call us while your in the store so we can walk you thru it

Charlie

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
westkybitcoins
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January 27, 2013, 09:08:06 PM
 #73

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.



Never had to deal with the red phone myself. I used Wal-Mart, took the slip with me, went to the MoneyGram counter, and was done within minutes. I can actually get it done on my lunch break.

It's a little surprising that CVS clerks would have that much trouble.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
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The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
opentoe
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Personal text my ass....


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January 27, 2013, 09:11:57 PM
 #74

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.



Never had to deal with the red phone myself. I used Wal-Mart, took the slip with me, went to the MoneyGram counter, and was done within minutes. I can actually get it done on my lunch break.

It's a little surprising that CVS clerks would have that much trouble.


Curious. You have to actually speak with a Money Gram agent first so they can put your transaction in the terminal so the cashier can process the payment. Are you saying there was a Money Gram rep at the Wal-Mart store?

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January 27, 2013, 09:23:06 PM
 #75

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.



There are instructions on the back of the slip for the merchant. The merchant needs to enter 0 moneygram fees since its included already. That's probably why it failed.

Next time, call us while your in the store so we can walk you thru it

Charlie

Yeah she didn't know what to do.  I didn't know who to call either.  Since there is a 3rd party in the mix too.

Not complaining.  I have a high tolerance for pain and will give you guys another try.  Will be better prepared next time.
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Charlie 'Van Bitcoin' Shrem


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January 27, 2013, 09:24:44 PM
 #76


Not complaining.  I have a high tolerance for pain and will give you guys another try.  Will be better prepared next time.


Thanks, if there is trouble next time, call the 716 number on our site from the store, we have people trained for this!

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January 27, 2013, 09:25:22 PM
 #77

As far as I know you can use BitInstant with any MoneyGram location, and those are virtually everywhere.

This is hell. It took me all day to do a simple cash deposit with this MoneyGram deal. No matter what amount I told the cashier I wanted to deposit it was the wrong amount and I had to go back to that stupid red phone and call Money Gram again. I had to visit 3 CVS stores and an Acme to get one stupid deposit done. Then all the fees on top of that it just killed me.

Yeah I did it the other day too.  Went back and forth to the red phone 3 or 4 times.  Cashiers had no idea what to do.  I eventually left and got my bitcoins from another source.



Never had to deal with the red phone myself. I used Wal-Mart, took the slip with me, went to the MoneyGram counter, and was done within minutes. I can actually get it done on my lunch break.

It's a little surprising that CVS clerks would have that much trouble.


Curious. You have to actually speak with a Money Gram agent first so they can put your transaction in the terminal so the cashier can process the payment. Are you saying there was a Money Gram rep at the Wal-Mart store?


At many of the regional Wal-Marts (I can't believe it wouldn't be nationwide) they have "finance counters" or something similar near the front of the store. They have services such as Wal-Mart credit card signup, prepaid debit card sales, sometimes a branch office of a real bank, and MoneyGram transfers.

Whether it was an official rep of MoneyGram or not, I'm not sure, all I know is I went to the counter, filled out the form, the clerk entered the data, and the deal was done. No extra step with a phone calling MoneyGram, nothing like that.

Bitcoin is the ultimate freedom test. It tells you who is giving lip service and who genuinely believes in it.
...
...
In the future, books that summarize the history of money will have a line that says, “and then came bitcoin.” It is the economic singularity. And we are living in it now. - Ryan Dickherber
...
...
ATTENTION BFL MINING NEWBS: Just got your Jalapenos in? Wondering how to get the most value for the least hassle? Give BitMinter a try! It's a smaller pool with a fair & low-fee payment method, lots of statistical feedback, and it's easier than EasyMiner! (Yes, we want your hashing power, but seriously, it IS the easiest pool to use! Sign up in seconds to try it!)
...
...
The idea that deflation causes hoarding (to any problematic degree) is a lie used to justify theft of value from your savings.
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January 27, 2013, 09:33:18 PM
 #78

Since there is a 3rd party in the mix too.
1. The sender (you)
2. BitInstant
3. MoneyGram
4. ZipZap
5. The recipient (Mt Gox/Dwolla/Coinapult, etc)

As far as MoneyGram is concerned, you are sending money to ZipZap (a bill paying service). ZipZap is who gives your money to BitInstant (after taking their fee).

BitInstant is the one who tells ZipZap about the "bill" that you will be paying so that ZipZap can prepare to receive it.

Once BitInstant finally gets the money they can send it to whichever destination you chose.
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January 28, 2013, 02:56:31 PM
 #79

My local CVS had no clue how to process my BitInstant transaction.

After ~1 hour of standing around, waiting for the clerk to figure it out, I was told it would not be possible at that location.


Bitcoin-otc seems like a good way to trade, but it's the opposite of user friendly, and it's very easy to get scammed. Actually, my only attempt to trade on bitcoin-otc resulted in myself being scammed  Shocked.

Obviously the market is demanding something better. If anyone would lead the way on this one, I'm sure they would make a good penny.

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Charlie 'Van Bitcoin' Shrem


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January 28, 2013, 03:21:45 PM
 #80

My local CVS had no clue how to process my BitInstant transaction.

After ~1 hour of standing around, waiting for the clerk to figure it out, I was told it would not be possible at that location.


What was the location? They can lose their license for denying you.

Please call our support next time from the store.

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
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