BitInstant MtGox Coupon taking a while

[trogdorjw73]

Not sure where else to put this, but since I was trying to take advantage of an arbitrage situation I figure it works here as well as anywhere. Anyone ever use BitInstant and have the transfer take exceptionally long? Right now, they're showing my deposit to Tradehill has gone through, but over 70 minutes later Tradehill shows nothing. Usually it's less than a minute before the funds are available at TH; anyone have a similar experience ever? What causes this, and what do you do about it? This will very possibly be the last time I try using BitInstant if something doesn't happen.

[Jonathan Ryan Owens]

Not sure where else to put this, but since I was trying to take advantage of an arbitrage situation I figure it works here as well as anywhere. Anyone ever use BitInstant and have the transfer take exceptionally long? Right now, they're showing my deposit to Tradehill has gone through, but over 70 minutes later Tradehill shows nothing. Usually it's less than a minute before the funds are available at TH; anyone have a similar experience ever? What causes this, and what do you do about it? This will very possibly be the last time I try using BitInstant if something doesn't happen.

Hmm.. Have you put in a request with Tradehill to see if it's on their end? Don't be too quick to jump the gun on Bitinstant. The only problems I have heard about Bitinstant have all been them overpaying on exchange by accident.

-Jonathan

[zby]

I guess they are out of funds at th right now because too many people try the arbitrage.  I also had sent some money there and even thought the order status is 'completed' the money did not appear at my th account.

[Yankee (BitInstant)]

Not sure where else to put this, but since I was trying to take advantage of an arbitrage situation I figure it works here as well as anywhere. Anyone ever use BitInstant and have the transfer take exceptionally long? Right now, they're showing my deposit to Tradehill has gone through, but over 70 minutes later Tradehill shows nothing. Usually it's less than a minute before the funds are available at TH; anyone have a similar experience ever? What causes this, and what do you do about it? This will very possibly be the last time I try using BitInstant if something doesn't happen.

Good Morning,

Did you send us an email? Did you call us? We'd be glad to push the transfer thru or fully refund you if there is an issue, but we did not get anything from you.

I guess they are out of funds at th right now because too many people try the arbitrage.  I also had sent some money there and even thought the order status is 'completed' the money did not appear at my th account.

Hey, I responded to your email and fully refunded. Ill let you know when ready to rock and roll.

Charlie

[trogdorjw73]

Thanks, it's taken care of via a refund of the MtGox coupon. Still, I'm curious as to what happened that it never showed up... curious as a euphemism for concerned.

Edit: And now BitInstant is suddenly down for technical reasons. Wonder if it's related to what I experienced last night? Anyhow, I have my funds available, but I'd really like them in TH right now and I can't put them there easily. Bah.

[Rejinx]

This is a real question, becuase I really do not know:
Why does most trades go thourgh MyGox instead of other exchanges??? Are they cheaper?

[Matthew N. Wright]

This is a real question, becuase I really do not know:
Why does most trades go thourgh MyGox instead of other exchanges??? Are they cheaper?

One word: Volume.

[Yankee (BitInstant)]

Thanks, it's taken care of via a refund of the MtGox coupon. Still, I'm curious as to what happened that it never showed up... curious as a euphemism for concerned.

Edit: And now BitInstant is suddenly down for technical reasons. Wonder if it's related to what I experienced last night? Anyhow, I have my funds available, but I'd really like them in TH right now and I can't put them there easily. Bah.

Great, send me an email directly if it happens again, Ill take care of it quickly.

Thanks, it's taken care of via a refund of the MtGox coupon. Still, I'm curious as to what happened that it never showed up... curious as a euphemism for concerned.

Edit: And now BitInstant is suddenly down for technical reasons. Wonder if it's related to what I experienced last night? Anyhow, I have my funds available, but I'd really like them in TH right now and I can't put them there easily. Bah.

Hey, its simple actually!
Last night, and now is for the same reasons. We hold reserves so that we can transfer the funds to you, once the reserves deplete we have to take down the site until it gets topped up.
The way we built it, since it takes 2-3 days for wires it leaves us a cushion so this never happens, but the amount of volume we're doing was totally unpredictable.
Check out this thread, where I expressed some frustrations in looking for investors- https://bitcointalk.org/index.php?topic=52602.0