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PSA: More examples of Bitinstant's suspicious exchage rates

I know there was a similar post by u/psapsaps 3 days ago about this issue. I decided to take a chance and try it out anyway becase its the easiest and quickest way for me to obtain btc right now.
My first purchase was of $100 usd, + the $3.95 for zip zap they dont even warn you about.
purchase was executed around 2:30pm utc on 4/16. I got a confirmation email at 2:33 utc
mt.gox was at $65 +-$3
considering bitinstant fee of 3.99%, my deposit was of $96.01
i received 1.20595 at 3:52 pm utc at the rate of $79.61 , so theres that. Where were my bitcoins from 2:30 pm utc to 3:52 utc?
Well i decided it was worth another try just for the sake of getting more information.
today 4/18 at 1:05 pm utc i got a confirmation form zip zap that my second purchase (this time of $200) had been succesfully processed. Bitinstant emailed 3 minutes before that at 1:02 pm to confirm that my order had executed for 192.02.
at 1:07pm utc i receive 2.01639364 btc at the rate of $95.22
mt.gox had been at $92 +-$1 during the surpricingly short amout of time it took for my cash deposited at 1:00 pm utc to turn into bitcoins in my wallet at 1:07 pm utc.. but whats up with the exchage rate?
I just wanted to share my experiance with reddit about bitinstant so that everyone can make a more informed opinion about their service. If anyone has any information to prove that im an idiot, please share. i hope this is all an error on my own or on bitinstant part.
edit: At this url... well this:
"As regards bitcoin price: We will honour the price from the time your order was placed - but we will usually do so by sending you the difference manually with a fee refund after dealing with delayed orders.
Since price has recently dropped, it may in fact be in a lot of customer's interests to allow their orders to execute at current prices and this is what we would recommend."
-April 11, 2013 | Gareth Nelson
edit: added pm markers for utc time, I am in US central time
submitted by bitdetective to Bitcoin [link] [comments]

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BitInstant was a bitcoin exchange start-up based in New York City. Founded in 2011 by Gareth Nelson and Charlie Shrem, BitInstant provided a means to rapidly pay traditional funds to bitcoin exchanges.As of January 2014, BitInstant's website is no longer available, displaying only a blank page. Its blog was unavailable as of October 31, 2014. BitInstant was a bitcoin exchange start-up based in New York City. Founded in 2011 by Gareth Nelson and Charlie Shrem, BitInstant provided a means to rapidly pay traditional funds to bitcoin exchanges. As of January 2014, BitInstant's website is no longer available, displaying only a blank page. Its blog was unavailable as of October 31, 2014. Gareth Nelson is Former Chief Technology Officer at BitInstant LLC. View Gareth Nelson’s professional profile on Relationship Science, the database of decision makers. BitInstant is a payment processor for various Bitcoin exchanges and other merchants. Customers of these exchanges and other merchants can easily make a payment to them by using BitInstant, that is an agent and payment processor for those exchanges and other merchants. BitInstant receives money for exchanges and other merchants through various payment systems such as Dwolla, Liberty Reserve ... When Gareth Nelson and Charlie Shrem founded BitInstant in 2011, they hoped this exchange would become one of the top companies in cryptocurrency. However, regulators shut down the exchange in 2013. Even though BitInstant did receive a good bit of funding and experienced rapid growth, its demise was swift. Let’s look at what led to the fall of BitInstant and try to think about what we can ...

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Bitcoin 2013 conference - Charlie Shrem - Cash Deposits, Challenges and Ideas

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