Back in 2011 or so when mtgox/bitinstant were big, none of them really knew what they were supposed to do.
Used in a Sentence
bitinstant
How to use bitinstant in a sentence. Live example sentences for bitinstant pulled from indexed public discussions.
Editorial note
Back in 2011 or so when mtgox/bitinstant were big, none of them really knew what they were supposed to do.
Examples18
Definitions0
Parts of speech1
Quick take
Back in 2011 or so when mtgox/bitinstant were big, none of them really knew what they were supposed to do.
Example sentences
There is no complaint against the company BitInstant, nor arrests of any other employees.
The complaint notes that BitInstant was actually a registered MSB (since March 26, 2012).
It would also be interesting to know whether the Winlklevoss twins - investors in Bitinstant and major Bitcoin holders - ever loaned Bitcoins to Bitinstant that ultimately wound up in the drug dealer's hands.
The charge is that Faiella purposefully targeted Silk Road users, sold them BTC at a markup, and Shrem coordinated with him to bypass BitInstant's anti-money laundering mechanisms and deliver the actual Bitcoin.
To make matters worse, while Shrem was CEO he was simultaneously BitInstant’s compliance officer, responsible for ensuring that his company followed the law.
These rules could be applied normally to people doing exchange services, like Expresscoin, BitInstant (RIP), CoInvoice, etc.
That requires a showing that the BitInstant guy intended to promote illegal activities.
Didn't the BitInstant guys get busted for specific allegations of money laundering?
While no one had any idea that this specific activity was happening, Charlie and Bitinstant were incredibly reckless and cash hungry for quite a while.
It seems to be that BitInstant CEO sold BTC to a known Silk Road BTC dealer, who was aware of what the BTC was being used for.
I have never used BitInstant and I was verified before.
Quote examples
Other Exchanges had problems, I remember the "you can have bitcoin next friday, when we've got some ourselves" episode (bitinstant perhaps?).
The Winklevoss twins say: “We were passive investors in BitInstant and will do everything we can to help law enforcement officials.
Charlie Shrem (of Bitinstant fame) claims that he had a lengthy talk with Mark Karpeles and "good news on the horizon for people who have funds stuck in MtGox".
Proper noun examples
He's lucky he didn't also catch a case for ripping people off through Bitinstant.
He was arrested for allegedly going behind his bank and cofounder's backs to advise a known BTC dealer on Silkroad on how to skirt Bitinstant's AML policies.
Bitinstant did this but was badly implemented.
Frequently asked questions
Short answers drawn from the clearest meanings and examples for this word.
How do you use bitinstant in a sentence?
Back in 2011 or so when mtgox/bitinstant were big, none of them really knew what they were supposed to do.