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Bitinstant recently laid off all of their support staff and has gone quiet for nearly two weeks on support related matters. Their CEO, Charlie Shrem, used to c
by downandout 13y ago
Bitinstant recently laid off all of their support staff and has gone quiet for nearly two weeks on support related matters. Their CEO, Charlie Shrem, used to constantly tweet several times per day. He hasn't tweeted in 9 days now and seems to have vanished (https://twitter.com/charlieshrem https://twitter.com/charlieshrem). Over the holiday weekend, their $8/mo SquareSpace account used for hosting their blog was suspended for billing issues (though they have since scraped up the $8).
Bitinstant is taking money from new orders and allocating it to old orders (aka Ponzi Scheme). I suppose that means that as long as new orders continue to arrive, customers will be made whole and eventually they could earn enough in fees to cover up whatever they did that caused the mess they are in. That's if someone doesn't complain to the FBI first and get them shut down.
https://bitcointalk.org/index.php?topic=128314.8180 https://bitcointalk.org/index.php?topic=128314.8180 (that is one of the most recent pages of a thread containing ~411 pages of complaints). The last few pages are especially disturbing.
- dobbsbob 13y agoTheir bitcoin service to top up phones disappeared pretty quickly too and never came back, also their debit card service never happened. They used 'VouchX' which was run by a shady guy who disappeared after LR went pop so maybe that's why they can't afford staff.