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Author Topic: TradeHill bashing  (Read 619 times)
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June 20, 2011, 03:48:17 AM
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I created an account just to post this.

With the mtgox database dump a lot of users are talking about TradeHill. After reading many conversations here and other sources I've seen a lot of hearsay and bashing of a legit and very decent company. Because of this I'm going to post my past experience with them.

I used their services 2 weeks ago to sell some bitcoins. Within 1 hour of placing my 35 btc with a price of $30 they were all sold. With a decent amount of cash now in their hands I decided to use the funds to purchase better mining hardware. I submitted a bank transfer and waited until TradeHill processed my request. As soon as I got the request I check my bank account to notice no funds where there yet. Since this was done over the weekend I waited till Monday to allow my bank to catch up. After the 2nd day went by I started to get worried. That's when I sent an email to their support team. I instantly received a reply stating that on their side they have confirmed the transaction has been submitted.

On day 4 of waiting for my funds I wasn't worried at all because all future communications about this issue was initiated from TradeHill and not me. They worked with me to track down the issue and were very transparent about what was going on. Because of this TradeHill has proven to me that they are indeed a very legit and safe company to trade BTC with.

Here was their final reply with personal info stripped out.


Quote
I have been in contact with XXXX regarding wires that I submitted more than 5 days ago. They should have been in your account the day after you submitted the request at most. I need to apologize for this and I want to be very clear and transparent as we go forward.

Originally XXXX held my wires to verify that no one had hacked my account and that the wires were going to the individuals that I had intended. Thursday I was told that the wires were being processed again and going out. I received a call from XXXX Friday saying someone had called in and was concerned that Bitcoin is a fraud. XXXX wouldn't give him information on us due to privacy concerns and he became paranoid. XXXX then requested information from me about these transactions. Obviously Bitcoin is unlike anything that the banking industry is used to so we have been discussing how this is going to play out.

I want to be completely honest and transparent about what is going on. I am extremely upset with XXXX because I am trying to provide funds to my clients as quickly as possible and they have made this extremely difficult.  I have spoken with several other banks and opened new accounts. I have sent information about what exactly Bitcoin is and spoken with them in detail to insure this does not happen again. As Bitcoin grows there are going to be more problems with banks due to the nature of Bitcoin and it's ease of moving large amounts of money.

I would like to offer you two options that I can do immediately when I receive your email response:

1) cash you out with Bitcoin. I will send you Bitcoin for your wire equal to the current last trade on TradeHill or Mt Gox.
Whichever benefits you most and I will also lower the price by an additional $1USD per Bitcoin and not charge commission.

2) I will cash you out via Dwolla.com and I will add another 5% to the value.

I will process either of these within 30 minutes of receiving your reply. My US number is XXX XXX XXXX and my cell phone number is +XX X XXXXXXXX. I prefer that you trade with us but if cashing out BTC and selling them somewhere else like Mt Gox or OTC will close this then I am more than happy to do it.

I will be receiving a reply from XXXX on Monday when they open again. This wait is completely unacceptable and I find it embarrassing. This is not how we do business. Unfortunately I can not get XXXX to process the wires at this time. I would like to apologize for this again and close this matter as soon as possible. Thank you for your time and patience regarding this. If you see an alternative way that we can solve this problem I am interested in hearing it as well. I will be available all day to speak with you regarding this or any other issues concerning Bitcoin and TradeHill, you have my personal email address, my personal phone number and my personal cell phone number.

Once again we would like to say that we value your business and apologize for the time and difficulty that this transaction has taken.
 
Regards,
Jered Kenna
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June 20, 2011, 03:50:06 AM
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Just signed up like an hour or so ago.  Was sick of seeing referral links, but I had already researched a little before.  Jared already did a personal reply here in the Newbie forum.  I found a mod with a referral in their sig and signed up.  Hope they work out Smiley

No matter what, I am pretty sure they are going to be putting a chunk of profits toward security lol

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