TradeHill - 4th of July special .3% commission until July 10th

[Jered Kenna (TradeHill)]

July 4th 1776 - The United States declares independence from Great Britain. No taxation without representation.

July 4th 2011 - TradeHill declares independence from The United States Dollar. No inflation without representation. 




July 4th trading special! 0.3% commissions until July 10th! Your profile will show your previous rate, but all trades will be discounted!


We've come a long way as a community and have a lot to celebrate but this is just the beginning.
Our trading API is live, instant buy / sell will be online within 24 hours.

 

Regards,
Jered Kenna

Click the link below for more information about who we are with our full names and bios.
http://forum.bitcoin.org/index.php?topic=19537.0

[Chick]

I approve of this thread.

[kjj]

Awesome.  Congratulations on getting your API going.

[kokojie]

GREAT NEWS!!! Now it's cheaper than mtgox

[error]

Gogogo!

[Jered Kenna (TradeHill)]

Awesome.  Congratulations on getting your API going.

Thanks, the API alone shouldn't have taken so long but we've focused a lot of our energy towards answering every single email we receive as quickly as possible.
We also wanted to make 100% sure that it's secure. We've continued to hire people (10+ at this point) and bring in more consultants.
We've received such a large response that we were forced to slow development down to maintain our operations but changes should be coming a lot faster from here out.

Thanks to everyone for all the positive (and a little negative) feedback.

-Jered

[fascistmuffin]

I approve of this thread.

I think someone put a little too much time into formatting.

[Elokane]

Cool, nice going.

[Frank White]

awesome stuff tradehill!

[Yankee (BitInstant)]

I <3 TradeHill

[dinzy]

I think 0.3% is still too high.  Currency exchanges would never be popular if they charged such exorbitant fees.  Traders should be able to make a decent profit on a 1% daily deal.  With these ridiculous fees either tradehill takes 60% of that 1% profit or traders take a loss of 3% due to fees. 

[Jered Kenna (TradeHill)]

I think 0.3% is still too high.  Currency exchanges would never be popular if they charged such exorbitant fees.  Traders should be able to make a decent profit on a 1% daily deal.  With these ridiculous fees either tradehill takes 60% of that 1% profit or traders take a loss of 3% due to fees. 

I don't follow your math on the 3% loss due to fees.


Forex rates are a lot lower than .3% I agree with you on that.

A currency exchanger on the other hand charges a lot more.


I don't know where this image is from but I think we can agree it's pretty typical for a currency exchanger.
These rates are A LOT higher than ours. With this spread they're essentially charging 4% to 10%
No need to go over the math in detail, it's obvious the buy and sell prices are way off.

Over time our fees will drop. The Bitcoin economy is still really small compared to Forex.
Fees are charged in basis points but the markets are moving trillions

[DrYe5]

July 4th 1776 - 0.3% commissions

Instead, can you just give me instant BTC withdrawals?

[Jered Kenna (TradeHill)]

July 4th 1776 - 0.3% commissions

Instead, can you just give me instant BTC withdrawals?

Coming soon! 

[the joint]

Jared,

Hi, I just sent you an email regarding a Dwolla deposit I initiated on Saturday that still has not cleared.  When I check my account history, the status for this deposit says "in process."  The time and date of the deposit are listed as "none."  I tried requesting another deposit for the same amount ($150) thinking that perhaps the deposit request was lost amidst the holiday madness, but this was immediately cancelled -- I suspect because I do not have an additional $150 in my account.  I know Sunday was a weekend and Monday was the 4th, but the deposit still had all of yesterday (Tuesday) and today to clear.  Am I wrong to assume the deposit process will always take less than 24 hours?  Any help would be appreciated.  I want to take advantage of these crazy market swings and reduced transaction fees!  Thanks!

Edit:  I received a prompt email in response to this problem, and I believe it was my error.  Thank you!  Fast service.