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Author Topic: Hundreds of people have lost money using bitinstant  (Read 1744 times)
repentance
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April 10, 2013, 05:42:33 AM
 #21


Seems like they only have growing pains, and everythign is solved as quickly as they can. With many new customers, there will be issues, and some scream loud too early.

"Growing pains" are a luxury Bitcoin services handling the funds of others can no longer afford.  The demand for services and the sheer value of funds being handled means that every company needs to be handle rapid growth from the get-go now. 

Services need to stop making their internal problems their customers' problems.  If they don't have the capacity to handle a certain volume, then they need to put limits in place which keep the number of users/value of transactions at levels they can handle in a timely manner - which may mean not accepting new customers until they have the capacity to handle them.

I understand Charlie's explanations for this problem, but it's one which should have been foreseen and planned for.  Neither lack of liquidity nor problems with the MtGox API should be issues allowed to affect users after the fact - transactions should not be accepted at all if they are going to be delayed due to those factors rather than user funds being hostage to those issues.

It's not 2011 any more and Charlie's been around longer than most.  Businesses which lack the capacity to scale cannot hope to survive long term.

All I can say is that this is Bitcoin. I don't believe it until I see six confirmations.
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