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April 12, 2013, 03:40:02 PM |
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Before the latest crash a friend wrote me a check to buy him some BTC.
Coinbase was and remains of absolutely zero use. They pose 2 insurmountable issues; I am required to buy at some unknown price a week into the future (which I attempted to do since it isn't my money after all) and any attempt to purchase at some unknown date's rate is met with a friendly reminder that they won't actually sell you BTC because they've closed the window for 24 hours rolling with an imaginary start time that seems to be always because I tried every hour on the hour for well over 24 hours. It should be noted that Coinbase, at least is trustworthy in that they don't just take your money and never answer you like the following:
So I looked into alternatives and found that BitInstant will take Dwolla and send BTC to a wallet address of my choice. Perfect, seeing as I have a Dwolla account. So I made the transfer to Dwolla which still hasn't settled which is a good thing because I just took a look into BitInstant's support thread and there is no way in hell I am putting anybody's money into that.
MtGOX takes Dwolla after you've verified your Gox account which apparently can take a matter of 3 weeks or more which completely unacceptable. I happen to have a Gox account but I've never used it or verified it because they've always struck me as being the amateurish hacks with overblown senses of self they have lately proven themselves to be.
So, here I sit with the funds about to settle into a Dwolla account and I have no idea who will just goddamned sell me BTC to an address of my choice for what are now irreversible funds (ie no risk for the seller). What the fuck kind of infrastructure do we have here, people? An exchange that dies when it is needed most and no reliable or expedient way to buy in to begin with. BTC deserves to flatline well under where it is currently valued until our community gets some of this shit in order.
But I digress, where does one transfer Dwolla into BTC without unnecessary delay or threat of never seeing the funds again? Surely, I'm missing someone, right?
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