I can't say I'm a fan of $1200 admission fees.

It wouldn't have had 134 likes if it was a scam.

It's been a pain dealing with them over the phone so I flew up to talk with them personally. I've got an appointment Monday morning and hope to have a solid answer on this by the end of the day. If it's not ready I'll have an ETA.

Jered

Smalleyster,

I've been traveling and out of the loop so I need to apologize for that. I handle most of the payment options and Adam was filling in while I was at 30,000ft.

There are two transactions here.

1) Checks out replacing Dwolla out. We can certainly send a check. We will send it for free as well. I will ask the bank if there is an easy way we can do this by submitting a CSV etc or another option. If there isn't an easy way to do this then I will sit down and write check after check personally until my fingers are blistered. Once again, free of charge.

2) Checks in. I've been looking in to options for receiving checks but it needs to be 100% free of chargebacks on our end and affordable. I beleive that I've found a solution and hopefully will have an announcement in a few days.


We will 100% write you a check to pull out funds you would have normally removed via Dwolla. Free.
If we can accept checks in we will, we'll evaluate it at first and then keep it if it's a viable option.

Smalleyster, sometimes you hate us, sometimes you love us but you're always honest, non biased and provide excellent feedback. We enjoy having you on these boards regardless if you stay a TradeHill customer or not. We would prefer that you do and are willing to work with everyone to find the best way to get funds in and out until everyone is using Bitcoin and we don't need an exchange.

Feel free to contact me if you need anything in the future.


Regards,
Jered

600 BTC is ALOT, but I believe somebody had much much more (25000 BTC  ) on mybitcoin. I hope it was moved someplace safer since first "mybitcoin scam" threads started popping up.

Check this podcast (around 14:40):
http://www.npr.org/blogs/money/2011/07/13/137795648/the-tuesday-podcast-bitcoin?sc=tw&cc=share

That can't happen until all the issues between TradeHill and Dwolla are resolved and Dwolla agrees to cover all losses from transactions before now.

Otherwise, TradeHill could send your $1,000 to Dwolla, go to send that money to you only to have Dwolla say, "Sorry, TradeHill, you can't send money to CubedRoot because you have a negative balance." Tradehill responses, "What? We had a zero balance and then sent in $1,000." Dwolla replies, "Yeah, you had a zero balance, but then two transactions from two months ago were reversed. You now have a negative $1,500 balance.".

Sure they would need to keep an account open, but if that account is only used to send money to end users there is no chance of fraud. The fraud they faced was were an end user would send money from Dwolla to Tradehill, buy BTC, then file a dispute with Dwolla.  Dwolla wouldn then refund the money to the end user, and debit it from Tradehill.
With the way I suggested, Tradehill would only use Dwolla to send money to its end users. This eliminates the risk of an end user doing what I described above since its not an option for funding your Tradehill account via Dwolla. It is impossible for an end user to fraud tradehill by getting money sent to them by Tradehill. 

http://forums.somethingawful.com/showthread.php?threadid=3413928

This thread doesn't make me feel like we are winning. They have been on a relentless attack on our community for weeks. They misrepresent all of our ideas, and try to paint us all as crazy right wing libertarians. And on top of that some of the openly admitted trolls in that forum are still welcome here, and our mods don't seem to do anything about it... We are not bad people and I have no clue why these people at SA seem to portray us as so? I think we have a good idea that can balance some imbalances in our financial system today. Do I personally believe that Bitcoins are destined to take over every major currency? No. However, I do believe that Bitcoins and other cryptographic currency's have a crucial role to play in the 21st century.

SteveFL,
Keep in mind also, that now, to get your USD from Tradehill all the way back to your bank it will now cost you $6.00!!!!!  Using Dwolla this same set of transfers would have only cost you $.50. 
I think its rather frustrating that Tradehill wont simply keep using Dwolla for Withdrawals since there is absolutley 0 risk in them getting frauded on withdrawals.

Wow. and this post is somehow a positive contribution?

The fees are just to high for me. With difficulty increasing, and edging profits down, an increase in the fees I pay lowers my return. Most of my transaction were withdrawals, which is impossible for the end-user to fraud, so Paxum is just to expensive for me.

I am glad Tradehill is using Paxum.  I have used them for a while (less than a year, but steady) for other sites and work, I am glad to have them on board with Tradehill.    I worry about the trust more than fees

Jered,
I was a big Tradehill fan. With your current switch to Paxum I figured I would sign up and give Paxum a shot.  Well, i was very surprised to see that Paxum REQUIRES its customers to send a photocopy of their identification (such as your passport, or drivers license) to them as proof of your ID.  They also require you to send in a photocopy of a utility bill to prove your address.
I find this a little intrusive.
At first, since I am miner, I rarely had to fund my exchange account with USD, since I mostly sold all the BTC I mined. So, I still relied on Dwolla to receive my funds from Tradehill.
Now, after your announcement that you will no longer use Dwolla for withdrawals, I am forced to stop using Tradehill as my exchange.  I will have to move back to Mt. Gox. I absolutely refuse to use Paxum as a service due to their intrusive background information requirements.
Is there a reason why you chose to stop using Dwolla for account withdrawals?  Its impossible for the end user (like me) to fraud Tradehill out of money when I am simply making a withdrawal. Plus, Dwolla is still ALOT cheaper to withdraw funds, its $.25 compared to Paxums $1.00.

Plus there is the HUGE difference in fees!!!! It costs me $5 to withdraw money from my paxum account to my bank account!! Holy crap! It also costs $5 to send funds to my Paxum account from my bank.  These fees are just ridiculous.  Dwolla, was just .25 to withdraw. So, for me as a miner, when I sold my BTC on Tradehill, it only costs me $.50 TOTAL to send the USD to my Dwolla account from Tradehill, then from Dwolla to my bank. This same transaction will costs me freaking $10!!!!!! Thats a huge increase!

Also, I posted several comments on your Blog, tradehillblog.com stating how Paxum requires such intrusive background information, and it never got "approved" by the moderators. I had thought Tradehill was a respectable company, and was open with its end users, but when you do sneaky things like not approving comments that expose Paxum's invasive TOS, it makes we question your Tradehill's openness.

The rating agencies are regulated by the USA government. The USA government will never loose the AAA rating by these agencies.

...Okay, and? That doesn't have anything to do with the US's innocent until proven guilty policy. If you say something incriminating, of course it will be used against you, as they are informing you when you are read your rights. Until proven guilty, regardless of how you may prove yourself guilty, you are considered innocent under US law.