is bitinstant coming back?

[og kush420]

the site is still up, but hasn't been updated in 3 months. anyone have insider info? is there anything similar, like pay with cash at a local place?

[justusranvier]

They are all ready to resume operations, except that no bank will touch them now.

The spent a lot of time and money obtaining licensing in order to comply with US laws, and it turned out to be a trap. They would have been better off just continuing to operate illegally because then they wouldn't have wasted so many resources trying to achieve the unachievable.

[ruletheworld]

Charlie talked about BitInstant in the crypto-currency conference in Atlanta last month and he seemed positive about the service making a comeback. You're right though - it's probably going to be hard to convince banks to work with it

[justusranvier]

Charlie talked about BitInstant in the crypto-currency conference in Atlanta last month and he seemed positive about the service making a comeback.

I heard a rumour that the instant they got the licensing all the lawyers told them they needed, every bank they talked to decided they didn't want them as a customer.

I think they will eventually find a way to come back, but I don't expect it to happen any time soon.