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Author Topic: [ANN] 700,000 Cash Deposit Locations in Brazil, Russia, USA - BitInstant  (Read 54347 times)
Tuxavant
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May 23, 2012, 03:43:03 PM
 #41

Go into Walmart with Bitcoins and exchange them for dollars you would have the perfect setup for wire transfers of money that could instantly compete with Western Union.

Should have that launched within 4 weeks or so.

Immanent death of Western Union in 5... 4... 3...

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May 23, 2012, 03:50:30 PM
 #42

Hi,

See this:

1- I go to buy 100 dollars, that is 208 Reais
2- I go to next page and see quote for cash transaction:
Amount you need to pay: 100 usd
Amount you will receive: 95 usd
3- I click go and the total I need to pay is 186,57 Reais. Shouldn't be 208 Reais?
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May 23, 2012, 03:50:38 PM
 #43

Go into Walmart with Bitcoins and exchange them for dollars you would have the perfect setup for wire transfers of money that could instantly compete with Western Union.

Should have that launched within 4 weeks or so.

Immanent death of Western Union in 5... 4... 3...

one shouldn't forget about the fees. with WU, the further a country the less WU fees are, also WU is cheaper by going to a local agent than sending it from their site with CC.
for instance, WU fees on decent amount to China - 1%, Russia/Ukraine - 4%, Canada - 10%

so in some cases it will be cheaper to send money through BitInstant, in others WU will still prevail.
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May 23, 2012, 04:02:47 PM
 #44

Hi,

See this:

1- I go to buy 100 dollars, that is 208 Reais
2- I go to next page and see quote for cash transaction:
Amount you need to pay: 100 usd
Amount you will receive: 95 usd
3- I click go and the total I need to pay is 186,57 Reais. Shouldn't be 208 Reais?

I will look into this, Im not sure why its about $5 off.

If its a mistake on our end, all transactions will still be honored.

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May 23, 2012, 04:03:54 PM
 #45

This is so great!  Many thanks to the developers.
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May 23, 2012, 04:06:16 PM
 #46


so in some cases it will be cheaper to send money through BitInstant, in others WU will still prevail.

For now...BitInstant is just getting into the game. With volume they could certainly compete.

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Charlie 'Van Bitcoin' Shrem


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May 23, 2012, 04:08:11 PM
 #47


so in some cases it will be cheaper to send money through BitInstant, in others WU will still prevail.

For now...BitInstant is just getting into the game. With volume they could certainly compete.

We will also be much easier and simpler.

While WU's strategy is make you fill out 3 pages of paperwork while on any transaction under $1000 they barely need half a page of info, we only ask for the info we need.

For example, when we roll out wire transfers and ACH, we will be required to get a little more information from you, only on certain transfers.

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May 23, 2012, 04:09:24 PM
 #48

186,57 to 208 is about 10 dollars off. I still didn't use the service. I'm just testing it. If is really a bug, I appreciate a donation. Thanks
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May 23, 2012, 04:14:55 PM
 #49

I'm speechless. This is huge.
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Charlie 'Van Bitcoin' Shrem


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May 23, 2012, 04:15:31 PM
 #50

186,57 to 208 is about 10 dollars off. I still didn't use the service. I'm just testing it. If is really a bug, I appreciate a donation. Thanks

Cool, of course. I shot an email to our rep at the bank, will have a response in a few.

If you find anymore bugs please let me know ASAP

EDIT:

Our devs recently made some changes to the integration with Brazil, and there appears to be a display issue regarding that. If you complete the transaction, the boleto (payment slip) says R$217.37 for a USD $100 transaction, which is the correct amount. We are working on fixing the wrong number showing in the checkout screen and it should be fixed shortly within a few days.

Whats your donation address?

-Charlie

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May 23, 2012, 04:19:00 PM
 #51

I hit return to merchant after going to ZipZap (for CVS) and it went to https://www.bitinstant.com/zipzap_callback where the page said only:

None

Still, awesome service and I'm trying it out today! This could Change Everything(tm) again.

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Charlie 'Van Bitcoin' Shrem


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May 23, 2012, 04:21:25 PM
 #52

I hit return to merchant after going to ZipZap (for CVS) and it went to https://www.bitinstant.com/zipzap_callback where the page said only:

None

Still, awesome service and I'm trying it out today! This could Change Everything(tm) again.

Fixing now, thanks Dave!

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

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May 23, 2012, 04:27:35 PM
 #53

Can someone walk my dumb a$$ through this? So, I go into Walmart and I do what now?  Undecided

I just want to be clear on the process as I'm sure the Walmart employee will not be.

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May 23, 2012, 04:36:49 PM
 #54

Hi,

So If I want to buy 100 dollars, I'll receive 96 dollars that is = 208 Reais.
With fees, on the end, I'll have to pay 215 Reais.

Suggestion:

Show total amount necessary to pay on the main page, including the fee. (The same information that appear on boleto)

Is this possible?
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May 23, 2012, 04:38:14 PM
 #55

Great job guys. This will fill one major hurdle in Bitcoin which is the difficulty in actually getting Bitcoins.

Thanks  Grin


Now if we could have the opposite. Go into Walmart with Bitcoins and exchange them for dollars you would have the perfect setup for wire transfers of money that could instantly compete with Western Union.

At least bit-pay can do a direct deposit of cash from BTC...

Should have that launched within 4 weeks or so.

So we would be able to use your service to withdraw from Mt-gox to an US bank account?
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May 23, 2012, 04:40:59 PM
 #56

Is anybody else getting a 500 server error when trying to place an order?

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May 23, 2012, 04:44:14 PM
 #57

Congratulations to Charlie and the rest of the BitInstant Team!  If you've never used BitInstant, you should give it shot.  It is, by far, the easiest and fastest way to convert cash to coins.  Go BitInstant!

Also, for those in the US who may not be aware... you don't have to physically go to one of their participating locations if you have an account with one of the 4 banks they support.  If you have a Chase account, you can make your deposit online by initiating a funds transfer from your account to the account # listed on the invoice.  Same for BOA, Wells Fargo, and Citi. 

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Charlie 'Van Bitcoin' Shrem


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May 23, 2012, 04:46:28 PM
 #58

Great job guys. This will fill one major hurdle in Bitcoin which is the difficulty in actually getting Bitcoins.

Thanks  Grin


Now if we could have the opposite. Go into Walmart with Bitcoins and exchange them for dollars you would have the perfect setup for wire transfers of money that could instantly compete with Western Union.

At least bit-pay can do a direct deposit of cash from BTC...

Should have that launched within 4 weeks or so.

So we would be able to use your service to withdraw from Mt-gox to an US bank account?

Yup, or any bank account in 186 countries in 100 currencies  Smiley

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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May 23, 2012, 04:52:38 PM
 #59

Can someone walk my dumb a$$ through this? So, I go into Walmart and I do what now?  Undecided

I just want to be clear on the process as I'm sure the Walmart employee will not be.

Dumb a$$ #2 has same question(s).

BTW, this looks great, Yankee!

~Bruno~
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May 23, 2012, 04:55:31 PM
 #60

have you thought about Greece? I am dead serious.

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