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1  Bitcoin / Bitcoin Discussion / Moneyandtech.com video on Sen. Manchin's call for a ban on Bitcoin on: February 26, 2014, 09:30:12 PM
We just put a video up about Senator Manchin's call for a ban

Take a look and give me your feedback. Also any help we can get promoting it would be really appreciated.
We're trying to provide accurate news here with people that know what they're talking about.

Twitter: @moneyandtech

Full link:
http://www.moneyandtech.com/feb26-breaking-news-sen-manchin-ban-on-bitcoin/

Short link:
bit.ly/1hUj12x

Love to have all the comments / suggestions / feedback and ideas you've got.

Regards,
Jered
2  Economy / Service Announcements / Tradehill: Suspending Trading IAFCU funds available for withdrawal on: August 30, 2013, 05:04:32 AM
We have recently made the decision to temporarily suspend trading on the Tradehill platform.

Internet Archive Federal Credit Union has experienced operational and regulatory issues and we are no longer able to continue our relationship at this time.

Our unique relationship with IAFCU allowed our clients to hold their Tradehill balance in an account opened in their name and federally insured. If you had an account with Tradehill after our integration with IAFCU and would like to withdraw your funds please contact msr@archive.org


We look forward to resuming operations soon.


Sincerely,

Jered Kenna
Chief Executive Officer
Tradehill

Edit: IAFCU's statement  https://internetcreditunion.org/uncategorized/rocky-road-is-still-one-of-my-favorite-flavors/
3  Economy / Service Announcements / Announcement: Tradehill is back on: March 18, 2013, 04:12:43 PM

March 18, 2013

San Francisco, CA - Tradehill, the first American Bitcoin Exchange, relaunched
today. The first product from the refounded company is Prime, a digital currency
exchange for businesses and accredited investors.

We are excited to present a new way for businesses and high-end investors to
interact with the digital currency economy. Prime is intended to enable every
business in the space to have more professional, cleaner, faster and more
effective operations. Tradehill has benefited from close relationships with Mt.
Gox, Coinbase, BitInstant and BitPay. Tradehill will focus the next few months on
adding up and comers like Coinlab to the mix.

What Is Tradehill?

Tradehill, originally launched on June 8th, 2011, was the first Bitcoin Exchange
in America, and facilitated millions of dollars in Bitcoin exchange.

Tradehill shut down and returned client funds in January 2012 due to payments
fraud and regulatory uncertainty in the US. Tradehill was the first institution
in the Bitcoin market to hold millions of USD in user funds and process full
payouts. Every other Bitcoin company that achieved scale either lost money in a
hack or went insolvent.

The new team, led by returning CEO Jered Kenna and co-founder Ryan Singer,
includes engineering talent from Google, Cloudflare, and The Guardian Project.

Businesses and accredited investors can apply to join Prime starting today.
After the user's identity is verified, every client will receive a $75 credit to
test trading. Clients will be invited to fully activate their account with a
deposit of at least $10,000 USD, 200 bitcoins, or $5,000 in Mt. Gox codes.

Contact:

Tradehill's site can be found at http://www.tradehill.com.

 For press inquiries, contact:


Contact Info: Tradehill
              2415 Mission Street
              San Francisco, CA 94110
              (415) 800-1400
press@tradehill.com

For balance claims on the original Tradehill please email: claim@tradehill.com
4  Economy / Currency exchange / TradeHill - looking to buy 17k USD worth of BTC on: March 31, 2012, 12:29:36 PM
I'm looking to buy 17k USD worth of BTC either in check to a US address (preferred) or wire.

This doesn't have to all be from one person. I also don't care if it's an exchange etc as long as it can be done quickly.
Send the BTC, I send the check or wire. I've got a few clients that prefer to cash out in BTC and I don't want to wait for the wire / clearance time at Mt Gox.
I most likely will be buying more later as well. To keep it simple I'd prefer blocks of 1k or bigger if it's going to be multiple people.

Let me know if you've got any questions.


-Jered

P.S. still pounding through requests, and moving. I'm getting through it all but it's a bit of work. I've got something really different coming out but
 it's not getting much energy until this gets to the point where it doesn't require any time.
5  Economy / Trading Discussion / I'm buying 17k+ USD worth of BTC on: March 31, 2012, 11:22:59 AM
I'm looking to buy 17k USD worth of BTC either in check to a US address (preferred) or wire.

This doesn't have to all be from one person. I also don't care if it's an exchange etc as long as it can be done quickly.
Send the BTC, I send the check or wire. I've got a few clients that prefer to cash out in BTC and I don't want to wait for the wire / clearance time at Mt Gox.
I most likely will be buying more later as well. To keep it simple I'd prefer blocks of 1k or bigger if it's going to be multiple people.

Let me know if you've got any questions.


-Jered

P.S. still pounding through requests, and moving. I'm getting through it all but it's a bit of work. I've got something really different coming out but
 it's not getting much energy until this gets to the point where it doesn't require any time.
6  Bitcoin / Bitcoin Discussion / Good chance to promote your Bitcoin projects in Silicon Valley - Veterans Hack on: March 10, 2012, 12:10:54 AM
Edit: withdrawals etc are coming on TradeHill, working through the backlog, that still gets 99% of my time.

If anyone is interested I'm helping to organize a hack-a-thon over the weekend of the 24th and 25th.
It's going to be at Adobe's building in downtown San Francisco. We've got Craig Newmark (Craigs List), the Mayor Ed Lee and Steve Blank on board.
It's not expensive, you'll be fed and we'll probably have free beer from my friend's brewery.

The event is designed to bring more military veterans in to the tech scene. If you're a vet then great, if you're not then you're still welcome.
We're looking for biz dev, designers, coders and anyone else with an interest. This would be a great opportunity to promote your Bitcoin projects or anything else you're interested in.
I'll be around for the entire event and happy to speak with anyone as well. There will be a lot of big names watching this and I'd love to see something Bitcoin related really take the spotlight.

I'm posting this on my blog at jeredkenna.com and I'll be tweeting from @jeredkenna with updates.

Please spread the word and let anyone know who you think might be interested.

-Jered

Additional information below:


JOIN US!!!!
Calling  all techies, hackers, coders, top notch tech business peeps come join a  true "A" team and launch a company over the weekend - join returning  military veterans of Iraq & Afghanistan service AND the tech  community in the SF Bay Area!

The Startup Veteran’s Weekend/Hackathon – Join TechCentralSF, Co-Chair Craig Newmark, and Mayor Ed Lee! Keynote Speaker - Steve Blank - author of Four Steps to the Epiphany and The Startup Owners Manual
Our Objective:  to support our returning bay area veterans - thru education,  re-integration, and by connecting to the tech ecosystem in SF Bay Area!

In  this two-day event the tech community in SF will come together to  support our returning Iraq/Afghan veterans. Teams of approximately 5-10  people will be formed with a variety of skills -the vets can have the  idea, help with business plan, marketing or just sit in to  audit/participate for educational purposes – vet coding skills are NOT  required - however developers from the tech community are encouraged to  attend!

Tickets are available at: http://www.eventbrite.com/event/3003598845

Additional information can be found at www.techcentralsf.com/startup-veterans - stay tuned for updates!
7  Economy / Trading Discussion / Press Release - TradeHill, Inc. Files Suit Against Dwolla, Inc. on: March 06, 2012, 07:13:06 PM
www.tradehillblog.com

FOR IMMEDIATE RELEASE:    
TradeHill, Inc. Files Suit Against Dwolla, Inc.



San Francisco, California - March 6th 2012 - As we have mentioned in previous press releases and blog posts, we at TradeHill believe we unjustifiably lost tens of thousands of dollars when we used Dwolla as our money transmitter during June and July 2011.  We spent months attempting to contact Dwolla to resolve this dispute but were met with silence or obfuscations.  To this day, though Dwolla has claimed these losses were due to chargebacks, we have not received any kind of documentation accounting for those losses.  Regardless, Dwolla's contracts and advertisements from the time specifically and repeatedly highlighted a "no chargeback" policy.

As a result of these losses, TradeHill was unable to pay its employees and was forced to shut down exchange operations on February 13, 2012.  We did not want to do this.  We believe in Bitcoin and greatly enjoyed being involved in the community in such an integral way.  Though we had hoped to continue different business operations on bitcoin.com, we were contractually obligated to return that domain name (along with bitcoin.co and bitcoin.co.nz) once we stopped operating as an exchange.  As such, bitcoin.com is no longer owned and operated by TradeHill.

Yesterday, TradeHill filed a complaint for damages in the United States District Court for the Northern District of California against Dwolla and two of its officers.  In the complaint, we allege that Dwolla fraudulently reversed nearly $100,000 in supposedly "credited" transactions and unjustifiably blocked an attempt by TradeHill to transfer $70,000 of its funds from Dwolla's control.  Besides these direct damages, TradeHill is also claiming damages resulting from Dwolla's actions, including the harm to TradeHill's reputation and the loss of bitcoin.com, a very valuable domain.

We have received confirmation from other former Dwolla customers that they also lost money when Dwolla reversed supposedly completed and credited transactions without notice and in violation of Dwolla's own policies.  If you also believe you were treated in a similar fashion by Dwolla, do not hesitate to contact us.



Jered Kenna
Chief Executive Officer
TradeHill

Twitter: @jeredkenna   @tradehill
Please send all press inquiries to press@tradehill.com

ENDS
8  Bitcoin / Bitcoin Discussion / Linode compromised and it's effect on TradeHill on: March 02, 2012, 10:41:24 AM
From tradehillblog.com


Dear Clients,

Yesterday, March 1st, one of our hosting providers was compromised. Linode.com contacted us several hours ago via email stating:



" As a valued customer, the security of your account is our top priority.  Today we suffered from an unauthorized access of our system that resulted in eight customer accounts being compromised. Unfortunately, your account was one of the accounts targeted.

You should begin a compromised system recovery procedure immediately -- we recommend a complete redeployment -- on your  Linodes. "




It appears that hackers were targeting accounts owned by Bitcoin businesses.

We built TradeHill with security as a priority and make use of multiple data centers to protect core infrastructure. Due to our system architecture design it appears that no user data was compromised, and all wallet files are safe, however we are in the process of a more thourough audit and will provide updates when more information is available.

We are taking TradeHill offline at this point as a precaution and appreciate your patience.

Updates can be found  here and on twitter via @tradehill and @jeredkenna

Regards,

Jered Kenna
Chief Executive Officer
TradeHill
9  Economy / Service Discussion / TradeHill - shutting down trading / deposits and returning all client funds on: February 13, 2012, 10:30:57 PM
::::: Announcement :::::: TradeHill suspending trading and returning client funds.


 Dear Clients,


Effective immediately TradeHill will be shutting down trading / deposits and returning all client funds.  Due to increasing regulation TradeHill can not operate in it's current capacity without proper money transmission licensing. Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds.

SEPA transfers for our Euro customers have been enabled.

Everyone at TradeHill has also been working without pay for several months after one of our payment processors removed over $100,000 dollars from our account without notice. We decided to cover this loss for now instead of passing it on to our customers and are taking legal action against the processor.

We will be focusing on Bitcoin.com and are preparing to release a new site before the end of the month.
It has been a pleasure working with the Bitcoin community and look forward to continuing our business in the future. More details to come soon.


Please follow our blog for more updates. tradehillblog.com

Sincerely,


Jered Kenna
Chief Executive Officer
TradeHill

Edit: We've received a lot of questions regarding donating your remaining balance to Bitcoin.com development. We've enabled a method to donate in all of the currencies and Bitcoin. 100% of these funds will go to Bitcoin.com development and keeping a community element present on the site. We have a great team lined up that we are preparing to announce and changes in the works to be released very soon. Thank you for all of your support. The Bitcoin community is what inspired us to start the exchange in the beginning and will continue to provide growth for Bitcoin.

Edit 2: We've had a few requests for an address to send Bitcoins. If you want to donate to Bitcoin.com development you can send Bitcoins to:   13Lvy1CCHi7fYHHVarGvuXnSg3ZccvGmyg
10  Bitcoin / Bitcoin Discussion / TradeHill - Paxum no longer working with Bitcoin exchanges on: February 12, 2012, 03:47:22 AM
We've caught up our deposits and withdrawals after our primary bank accounts were closed. If your funds haven't arrived let us know.

Recently we had been using Paxum for a large percentage of transfers and were quite happy with it. Unfortunately they cited increasing banking regulation and stated that they will no longer be working with Bitcoin exchanges.

All deposits have been or will be credited very shortly. All withdraws that were submitted but not sent out yet will be canceled. It is no longer possible to request a Paxum deposit or withdrawal from TradeHill. At this time we do not have an estimate on when we will be working with Paxum again.

Jered Kenna
11  Economy / Trading Discussion / TradeHill - suspension of US wire deposits / withdrawals on: January 04, 2012, 08:05:55 PM
http://tradehillblog.com/2012/01/04/announcement-us-wire-deposits-and-withdrawals-are-temporarily-suspended/

Dear Clients,

We’ve had an issue with our Citibank account and we’ll not be accepting
wire or ACH deposits or executing check, wire or ACH withdrawals for a
short period of time. All the funds are accounted for and we’ll re-commence
operations by Monday or Tuesday next week.

We’ve had an issue or two in the past with banking so we understand the
tension this causes for customers and us. However, we’ve always sorted out
it. There hasn’t been one incident where transactions weren’t executed
properly and accurately once the issue was solved.

If you have any questions, don’t hesitate to send an email to
info@tradehill.com.

Thank you very much!

Regards,
The TradeHill Team
12  Bitcoin / Bitcoin Discussion / good way to measure total Bitcoin users? on: November 30, 2011, 04:34:12 AM
Does anyone have a good way to measure Bitcoin users?

This could be something like:

Total client downloads
Active nodes

Or any other solid indicator that could be cited. I'm sure someone has a method.
I suppose we might be able to pull something out of traffic.

Ideally I'd like to be able to graph this and do some other analytic on it if they haven't already been done.
I saw a good graph on nodes but it ended several months ago.
I know there isn't a perfect way due to the nature of Bitcoin but there has to be a way to get a decent estimate that could be quoted.

Thanks in advance for the help.

Jered
13  Bitcoin / Bitcoin Discussion / TradeHill - False emails claiming to be from us or Mt Gox on: September 07, 2011, 05:57:07 PM
Blog post here: http://wp.me/p1H2Vt-3b


We have been receiving reports of emails claiming to be TradeHill.  These emails contain a link to a site which also claims to be TradeHill and will steal your login. Security is paramount at TradeHill and we take this very seriously.

It appears that these emails are being sent to users who had an email address stored at Mt Gox when they were hacked.

We encourage you to use a completely different login at every site. We also provide 2 factor authentication to help protect against this type of attack. You can read about our 2 factor authentication here http://wp.me/p1H2Vt-d.

You should never follow a link claiming to be from TradeHill or any other Bitcoin service unless you are absolutely sure of the origin. TradeHill rarely sends emails and will not send unsolicited emails requiring you to follow a link.

Below is an example of the type of emails being sent out. Do not follow or respond to these emails.

------------------------------------------------------------------------------------------------------------------------

Dear TradeHill user,

Your account will be blocked for violating the rules of exchange.
Details: https://www.tradehill.com/User/Blocked<http://www.tradehill.tk/User/Blocked>

Thanks,
The TradeHill team"

------------------------------------------------------------------------------------------------------------------------


Once again, please do not click on these emails they are not from TradeHill.

Jered


14  Bitcoin / Bitcoin Discussion / TradeHill - Free Paxum withdrawal period is ending on: September 07, 2011, 05:11:48 PM
We have been pleased with Paxum and had extended our free trial by waiving the $1.00 withdrawal fee for an additional two weeks. We had originally promised a free 30 day period in this post: http://wp.me/p1H2Vt-25   but allowed it to run longer.

Transfer requests submitted after 8AM EST this Friday 9/9/2011 will be charged the normal $1 fee.

Jered



Blog post: http://wp.me/p1H2Vt-36
15  Bitcoin / Bitcoin Discussion / New Deposit Methods For TradeHill via BitInstant Partnership on: August 23, 2011, 07:13:06 PM
Greetings Folks,

Today we are opening up 3 new ways of depositing US Dollars into TradeHill.
 
Instantly Fund TradeHill accounts through BitInstant using Liberty Reserve, Mt.Gox Coupon Codes, and Dwolla.
 
TradeHill, a leading Bitcoin exchange, announces a partnership with BitInstant that provides users the ability to fund accounts instantly with Liberty Reserve, Mt.Gox Coupon Codes, and Dwolla.  Thanks to an exclusive partnership with BitInstant, a New York based company specializing in rapid funding of Bitcoin accounts, users can now purchase Bitcoins within minutes of opening a TradeHill account.
 
Through BitInstant’s technology, transfers that previously took days or weeks, can now be completed within minutes. This allows Bitcoin traders to easily and securely deposit US Dollars into their TradeHill accounts and increases the liquidity of the overall market. The BitInstant platform enables TradeHill users to take advantage of market conditions much more rapidly than previously thought possible.
 
Customers can use BitInstant with full peace of mind due to a solid infrastructure that handles risk management and fraud protection through the use of dynamic models derived from artificial intelligence techniques.
 
Users can visit www.BitInstant.com for more information.
 
About Bitcoin
 Bitcoin, the world’s first decentralized digital currency provides the same convenience and anonymity that cash has long offered in the physical world. Only recenty introduced, it’s already used by hundreds of thousands of people to exchange physical and digital goods and services without fees. More information about Bitcoin can be found at bitcoin.org.
 
About BitInstant
 The BitInstant Project was founded by two Bitcoin traders Gareth Nelson and Charlie
 Shrem, who saw the need for a quick, easy, and secure way of transferring funds to their
 exchange accounts. Based on efficiency, transparency, and security The BitInstant
 Project aims to grow into the premier Bitcoin transfer service. BitInstant can be contacted
 at info@bitinstant.com
 
About TradeHill
 Tradehill is one of the top three largest Bitcoin exchange market by volume and offers its
 customers the opportunity to buy and sell Bitcoins in multiple currencies. TradeHill’s team comprised of top-notch Silicon Valley-hardened technologists and East-Coast financial experts, pursues one simple vision: to build the most secure bank ever built, and to make Bitcoins as easy to use and as commonplace as credit cards. TradeHill is based in San Francisco, USA and Vina Del Mar, Chile, and can be reached on the web at http://www.tradehill.com/. For inquiries please contact info@tradehill.com

See also the same post at our blog here: http://tradehillblog.com/

Thanks again everybody and happy Bitrading!

Regards,
Adam - Tradehill
16  Bitcoin / Bitcoin Discussion / State of TradeHill [Bitcoin.com Announcement] on: August 18, 2011, 01:02:36 PM
It's been a busy month here at TradeHill.  Here's what's new:

1) Bitcoin.com
Here's the big one: In the coming weeks we're going to roll out a beta of our new wallet and merchant services on Bitcoin.com.  Our goal with Bitcoin.com is to make Bitcoin more accessible to everyone in the world by developing an ultra-simple set of Bitcoin services.  What good is an exchange when currently most people can't use their Bitcoins in a safe and easy fashion?

We know that Bitcoin.com is a big opportunity, and we're not taking it lightly. We really want to get this right. As such we're very keen on not repeating the mistakes of other wallet services and exchanges. In the past two months we've heavily invested into security, talent and infrastructure to make sure we stay the one major Bitcoin site without any security incidents.

As such, we're not quite ready for testing with the public at large, but we're preparing for a staggered roll-out to our core customers in the coming weeks.  During this time, we're also intending to keep an open dialogue with the wider community - we want your input on how we can help Bitcoin succeed. Get in touch with us at future@tradehill.com for anything related to bitcoin.com and the future.

If you want to be among the first to try the new site, sign up for the beta waitlist at http://bitcoin.com/. We'll make sure existing TradeHill customers get the first seats.

2) TradeHill
Of course we're also continuing development on the TradeHill side of things as well. TradeHill will soon receive a full facelift and run on our new architecture, which we're hoping to build out into the most professional trading site you could wish for. Bear with us, first the new site and then later the toolchest for automated and professional trading.

3) Engineering
Having seen the recent disastrous consequences of under-engineering at other bitcoin services, we've focused on security and resilience instead of outward-facing features.

This was a tough call for us because it meant falling behind a bit on visible updates. We think that time will show that this was the right decision, and that you need good infrastructure to earn trust.

As part of our engineering efforts we've hired new engineers and significantly upgraded our tech infrastructure. At all times we are now running on two server clusters at independent datacenters in different countries. One of these clusters acts as a hot spare to which we can immediately switch over in the event there are any problems at the primary data center.  We, of course, religiously back up all data to an additional set of independent data centers.

Only two of our engineers have access to any production servers and we have emergency measures in place to prevent the theft or loss of any large quantity of Bitcoins (beyond what we can cover using reserves) even under the most adverse of circumstances.

4) Investment
Next, we'd like to reiterate that we're extremely committed to making Bitcoin big - we're in this for the long run. To do this, we've just reached agreement with new investors which will allow us to continue growing our team, improving our infrastructure, and helping Bitcoin succeed. TradeHill is here to stay and we're just getting started.

5) Site Feedback
We take all feedback seriously and we are very well aware of a number of improvements we need to make to our services.  Most of our recent technical development has been focused on behind-the-scenes infrastructure that we need to power the new services we're going to launch over the coming weeks.  However, we soon intend to catch up on the needed changes.  We've listened to your input, and we're anxiously awaiting the day when we can launch the features and improvements that you want.

6) Payment Options
We have been hard at work on adding more payment options for our users and we are happy to announce a new partnership with BitInstant. BitInstant allows you to instantly transfer funds between exchanges such as MtGox and TradeHill.  BitInstant is currently in a closed beta right now, but you can learn more at http://bitinstant.com/. This is one of the many payment options we'll be rolling out in the next few weeks.

7) Hiring
We're still hiring. If Bitcoin excites you, please get in touch!  We're especially interested in good designers. Please contact jobs@tradehill.com

8 ) USD Wires
We are again accepting USD wires both domestic and international.  See this blog post for more details: http://tradehillblog.com/2011/08/16/usd-domestic-and-international-wire-transfers-are-available-again/

9) Professional Traders
We have special deals for high volume traders. Please contact us.

10) Bitcoin Conference
We'll be attending the Bitcoin Conference in New York this weekend. See you there!

That's it from us for the week!

http://tradehillblog.com/
17  Bitcoin / Bitcoin Discussion / TradeHill - Static addresses are now live on: August 03, 2011, 08:19:32 AM
Static addresses now live.

Static addresses are now live.  You can find your static Bitcoin address in your profile. Simply click on your user-name after you login to access your profile.

This address will not change and you can send Bitcoins to your TradeHill account without previously filling out a request. No need to worry about sending too few or too many Bitcoins. Deposits will automatically be credited after network confirmation.

We welcome all feedback on this new feature. Thank you for your support!

All of our newest features are posted on www.tradehillblog.com


Jered
18  Bitcoin / Bitcoin Discussion / TradeHill - We now support deposits and withdrawals of funds via Paxum. on: July 28, 2011, 05:25:56 PM
The first of our payment changes is now live. More announcements coming soon.

TradeHill now supports deposits and withdrawals of funds via Paxum.
To learn more about Paxum and setup an account go to www.Paxum.com.

Currencies Supported Include:
- US Dollar
- Canadian Dollar
- Euro

Depositing funds to TradeHill is as simple as initiating an internal funds transfer on Paxum’s website. Fees are extremely low: : 25 cents on a deposit to TradeHill and $1.00 upon a withdrawal from TradeHIll. The $1.00 fee will be waived for the first month.

You may fund your Paxum account using:
- Internal Transfer from another Paxum Account Holder
- ACH Transfer from your bank account
- Wire transfer from your bank account
- Physically mailed money order
- Physically mailed check

Paxum also allows for some interesting ways to spend your TradeHill funds including ATM and debit cards.

We’re happy to be working closely with Paxum and look forward to continuing to provide our customers with reliable, trustworthy methods to deposit and withdrawal funds with TradeHill.
19  Bitcoin / Bitcoin Discussion / TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne on: July 26, 2011, 08:12:24 PM
Why we no longer accept Dwolla and an open letter to Ben Milne  also posted on http://tradehillblog.com/

TradeHill no longer accepts Dwolla payments because there are chargebacks occuring.

We have witnessed 9 cases where a Dwolla payment we received (and credited) was reversed days or even weeks later. In another 8 cases, Dwolla payments simply disappeared from the transaction history a few weeks after they were completed.  In all cases these were payments which were listed as CREDITED on our statements and were confirmed via email and the downloadable statement.

In none of these cases did Dwolla notify us of any issues. Instead, the transaction record was silently edited and our account balance simply dropped by a few thousand dollars each time.

The individuals who sent the payment, once credited on TradeHill, immediately bought BTC and disappeared. Our evidence suggests these individuals were well aware of Dwolla’s weaknesses and were explicitly exploiting them.

Our claims are supported by past CSVs, statements, emails, and recorded telephone conversations which we have systematically collected over the last two weeks.

Unfortunately we are currently on the hook to cover these losses and continue to receive no cooperation or explanation from Dwolla.



Therefore we announce An Open Invitation for Dwolla CEO Ben Milne to Call TradeHill:



Ben,

Please call us.

Over the last 2 weeks we’ve been trying to reach someone C-Level at Dwolla so that we could bring to your attention the problems we have found with your service.

Unfortunately with every contact we’ve been stone-walled and given promises that your company would get back to us with clarification.  Never has a telephone call been returned.

We have emailed your customer service rep Ben Murga regarding this issue on the following dates: July 14th, July 15, July 19th, July 21st, July 22nd, July 25th.

We have called your office 15 times over the same time period. Nearly each time we were told that you’d get back to us after we’d described the problem we were experiencing.

To help you take our concerns more seriously, we even provided your representatives with data packages irrefutably demonstrating the bug we see in your system.

However, we have been consistently brushed off and given wrong information. Our interpretation, either:
- Dwolla is well aware of the problem but working to cover it up.
- Your customer service representatives are not escalating the issue.

So, our request is simple. Please contact us and setup a time to speak so that we can make our case for why your system is broken.
Hopefully we can find a way to move forwards to protect your other customers from experiencing the same fraud that we have.

Regards,
TradeHill






Edit: http://www.dwolla.org/blog/retail-merchants-rejoice-web-kiosk-online/ shows their "no chargeback" policy and is getting some interesting comments, feel free to join in.
20  Bitcoin / Bitcoin Discussion / TradeHill - Dwolla is being scammed and reversing transactions on: July 26, 2011, 02:10:12 AM
Please see our blog post here: http://tradehillblog.com/2011/07/25/tradehill-audit-discovers-dwolla-transactions-are-reversible/ for a walkthrough of the transaction.

We would like to work with Dwolla and find a way to prevent this in the future. Hopefully the same thing hasn't happened on other exchanges.
Dwolla has been scammed out of at least $37,000 by our records and we have prevented another $27,000.

The latest updates can be found on www.tradehillblog.com


The individual listed is a confirmed scammer and most likely not their real name.
We have 17 other documented examples.

To sum it up: Dwolla sends out CSV files and emails stating that a payment has been credited. Several days later they remove the funds without mentioning anything to the merchant (TradeHill in this case).
We will continue to provide withdrawals through Dwolla and our users will be able to access all of their funds within TradeHill.



Jered
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