Bitcoin Forum

1) Why the $50 withdrawal limit?  

It is not like this is normal operations. This is extraordinary circumstances. We aren't quitting you.
You are quitting us. Why shouldn't we expert to get 'all' of our money back?  minus a reasonable
fee...

update: There is no minimum anymore.

which brings us to...


2) Why the flat $10 fee?

Look at it on a percentage basis. For depositors with large amounts $10 may be a small fraction
of what they have there. For people with less than $50 obviously it is %100 of what they have
there, with that limit, but even a large percentage of it without a limit.  Wouldn't it be fair to
let everybody get at least something?  

Sure you can say that you got screwed too by whoever you do business with... ( $100 grand stolen?
which you don't expect to get back at any point in the future? )  But we do business with 'you' not
them... Whether you pass that screwing on to your customers is 'your' choice.  

Wouldn't the goodwill be valuable from a business aspect if your removed those restrictions?  
You have bitcoin.com that you want to turn into something. You mention something about, or at
least hint at, bringing tradehill back at some point. Wouldn't it make good business sense to go
that extra mile for even the small fry, who may be noobs just trying this bitcoin stuff out for the
first time... as compared to those who have large amounts there and who may have been there
a lot longer and perhaps profited from some nice transactions in that time... its impossible of
course to characterize depositors based on the amounts they have deposited but one can make
rough guesses on percentages and averages... and give the little guy a break for once.  

Would your largest depositors begrudge having to pay a few cents more to get their money out in
order to waive the fee for those with small amounts under $50, who will lose it all?  Or maybe that
sounds too socialist to you... punishing the rich just for being rich, or for being smart investors
or whatever?   Well I think it would even make good business sense to eat all the fees yourself
and waive the minimum limit for everyone under $50 and look at it like an investment in your future
businesses.  

I am not just complaining about my meager losses but trying to think of Bitcoin as well, and the
public which we want to help come aboard, rather than sending them away with a bad taste
in their mouths.

Thank you for your consideration.  

I'm gonna stay out of this thread, but that point above is erroneous.

I expained the other thread: There is no minimum anymore, we will update the TradeHill backend and our website later tonight. 

Thanks, sorry for intruding  :)

/carry on.

if these terms are as you state i would agree 100% with you.

TH should take all the losses since it was their fault they went under.

if they don't return everyone's money then don't do business with them when they come back online in any form.

the withdrawal methods include
 $5 for a check but only to a u.s. address
 $10 for withdrawal using bitinstant  (mt. gox will refund 1.25% though, up to $10)
 donate to the next project, bitcoin.com
 
if tradehill had given notice in advance that trading would be discontinued, at least those with smaller balances would have been able to buy up some bitcoins -- which have no withdrawal limits.  

so though the site shows "TradeHill is suspending trading and returning all client funds." it is clear that some funds will not be returned -- as anyone with a balance below $10 $5 has no incentive to withdraw. [update: $10 bitinstant fee offset by $5 rebate when transferring to cryptoxchange]

can the checks be sent to any name?  if so, then maybe someone you know from the u.s. would deposit the check for you and send you the bitcoins?

ya really!

I have(had) less than $10 there and I was thinking of donating it to them, but that
choice is taken out of my hands now. They are just going to take it!   lol


You can add me to that list. 

I used TradeHill because I heard MtGox didn't care about their customers...  LOL

 

As anyone else requested an international wire transfer ? Mine has been requested more than one week ago and still no sign of any money on the destination account although expected delays is 2-5 days.

The transfer just got through.