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Author Topic: Open questions to Jered and Alan of Tradehill  (Read 4404 times)
GeniuSxBoY
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August 03, 2011, 08:45:50 AM
 #41


Geniusxboy: I believe Polands BTC was deleted but I could be wrong. If the mybitcoin funds were stolen then this could be a possibility. We see large amounts of BTC come in and out daily for legitimate reasons though and with a withdraw limit they would still be able to manipulate the market on TradeHill or any other exchange to a degree. If they're trying to maximize the currency they can remove though it wouldn't make sense.

Jered



If I were a hacker, and I stole massive bitcoin, I would have the patience to maximize my earnings undetected by spending a little at a time.

However, in this case, the more time that's wasted, the more time Poland has a chance to recover their wallet and transfer the coins.

I would definitely seek to unload these coins swiftly on an exchange that didn't have limits and I could get away with the money before you had a chance to freeze my account.

What do you think?
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Jered Kenna (TradeHill)
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August 03, 2011, 08:54:09 AM
 #42


Geniusxboy: I believe Polands BTC was deleted but I could be wrong. If the mybitcoin funds were stolen then this could be a possibility. We see large amounts of BTC come in and out daily for legitimate reasons though and with a withdraw limit they would still be able to manipulate the market on TradeHill or any other exchange to a degree. If they're trying to maximize the currency they can remove though it wouldn't make sense.

Jered



If I were a hacker, and I stole massive bitcoin, I would have the patience to maximize my earnings undetected by spending a little at a time.

However, in this case, the more time that's wasted, the more time Poland has a chance to recover their wallet and transfer the coins.

I would definitely seek to unload these coins swiftly on an exchange that didn't have limits and I could get away with the money before you had a chance to freeze my account.

What do you think?

It's a possibility and we manually watch large withdraws and always are looking for suspicious activity. I disagree on the recovering the wallet part though. If someone is smart enough to steal the coins they would know all they have to do to prevent that is move it to a new wallet unless I'm missing something of course.

Jered

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kjj
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August 03, 2011, 11:50:43 AM
 #43

About checks: They're coming directly from the bank, I'll confirm if the account / routing are on it but I don't believe so. Valid point though.

If it doesn't have your routing and account numbers on it, it isn't a check.

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August 03, 2011, 11:52:54 AM
 #44

If it doesn't have your routing and account numbers on it, it isn't a check.
You mean if it doesn't have someone's routing and account numbers on it, it's not a check. My checks don't have his routing or account numbers on them, and they are checks. If the bank is issuing the check, then it won't have his info on it.

I am an employee of Ripple.
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August 03, 2011, 12:03:27 PM
 #45

If it doesn't have your routing and account numbers on it, it isn't a check.
You mean if it doesn't have someone's routing and account numbers on it, it's not a check. My checks don't have his routing or account numbers on them, and they are checks. If the bank is issuing the check, then it won't have his info on it.

If the bank is sending checks drawn on the bank's own account, then you are right, those checks will not bear his account number.  Those checks will also be paid for up front, rather than at clearing.  Oh, and I've never seen a bank offer a service even remotely like that as a mainstream normal activity, while every bank in the country is completely willing to print and mail checks bearing the customer's account numbers, either for free, or for a nominal fee.

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MsBitcoin
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August 03, 2011, 12:20:32 PM
 #46

Neither have I, outside of Cashiers Checks which are paid for in advance as stated, but even then I have never heard of a bank that will issue and mail checks as Tradehill is planning.

It almost sounds like Tradehill plans on granting the bank signing rights on their accounts to function as their outgoing payment arm.  Again I have never heard of a bank that will do that and if they did Tradehills account info would be on each check.

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August 03, 2011, 12:23:25 PM
 #47

If the bank is sending checks drawn on the bank's own account, then you are right, those checks will not bear his account number.  Those checks will also be paid for up front, rather than at clearing.  Oh, and I've never seen a bank offer a service even remotely like that as a mainstream normal activity, while every bank in the country is completely willing to print and mail checks bearing the customer's account numbers, either for free, or for a nominal fee.
I have a client in Austria who pays me this way. He logs into his online banking and directs a bank payment. I receive a payment from his bank's US affiliate, from a special outgoing payments account. (He doesn't have an account in their US affiliate.) The only personally identifiable information of his that it contains, I think, is his name (though I didn't look very closely).

This may be an Austrian thing, something specific with his bank, or something like that. I never really thought about how unusual it was.

I am an employee of Ripple.
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Nicolai Larsen
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August 06, 2011, 12:44:08 PM
 #48

Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

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August 06, 2011, 12:52:27 PM
 #49

About 6 years ago I screwed up while filling out an online banking payment form to State Farm. I accidentally put my address in the slot where I was supposed to put theirs. A few days later I got a check in the mail drawn on MY bank account to State Farm. That's when I stopped doing online payments from banks in the USA. No wonder they took so long to clear.

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August 06, 2011, 03:52:47 PM
 #50

Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

Same thing here.  Been waiting 3 days, and no response yet from support to my e-mails.
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August 06, 2011, 03:54:12 PM
 #51

Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

Same thing here.  Been waiting 3 days, and no response yet from support to my e-mails.

Here we go again. Sheesh!

Feel like investing in a Miner?:
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A soup to nuts newbee system for a secure, portable USB wallet (free instructions):
NoobHowTo: http://bitcointalk.org/index.php?topic=27088.msg341387#msg341387
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August 06, 2011, 04:38:45 PM
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Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

Same thing here.  Been waiting 3 days, and no response yet from support to my e-mails.

Here we go again. Sheesh!

I'm sure they'll figure it out, and it doesn't really bother me that much, but I just wish there was better communication if they know that deposits/withdrawls are going to be delayed.
Nicolai Larsen
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August 06, 2011, 08:58:41 PM
 #53

Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

Same thing here.  Been waiting 3 days, and no response yet from support to my e-mails.

Here we go again. Sheesh!

I'm sure they'll figure it out, and it doesn't really bother me that much, but I just wish there was better communication if they know that deposits/withdrawls are going to be delayed.

That's just what 'm looking for.

Let me know if there's delays or warn me before hand.

The money is just locked now from being used...

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cottoneyeJoe
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August 06, 2011, 09:46:29 PM
 #54

I'm also noticing VERY long waits for both deposits and withdrawals from TradeHill via Paxum.

36+ hours for a deposit a couple of days ago and now waiting 30+ hours for a withdrawal. Very disappointing and not getting any clear info from TH support is even more frustrating.

MtGox paxum transfers have taken a little as an hour and never more than 4 hours. Dwolla seems even faster with MtGox and CampBx.

Has there been a credible explanation on why the other exchanges seem fine continuing with Dwolla while TH abruptly abandoned it even for withdrawals? I know they claimed some reversals happened but now that Dwolla requests ID verification, wouldnt that issue be a thing of the past, at least as far as having recourse if the same scam were attempted?

Perhaps TH's handling of the situation has burned some bridge with Dwolla?
CubedRoot
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August 06, 2011, 09:59:12 PM
 #55

Ive stopped using Tradehill and moved back to mt.gox and campbx. Theres to many other good and fully functioning exchanges that allow Dwolla withdrawals to be mucking about with Tradehill
Jered Kenna (TradeHill)
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August 06, 2011, 11:24:42 PM
 #56

Been waiting for a Paxum withdrawal for 2 days now, when it says it only takes up to 24 hours...

Same thing here.  Been waiting 3 days, and no response yet from support to my e-mails.

Here we go again. Sheesh!

I'm sure they'll figure it out, and it doesn't really bother me that much, but I just wish there was better communication if they know that deposits/withdrawls are going to be delayed.

That's just what 'm looking for.

Let me know if there's delays or warn me before hand.

The money is just locked now from being used...

 I've set up another account with a different bank. We've been really clear about what Bitcoin is and are establishing relationships with the banks. Most banks want absolutely nothing to do with Bitcoin so it's somewhat of a challenge but if we have several banks that understand what we're doing in the long run we shouldn't run in to these problems. Most likely I'll have another 2 banks online Monday as well.  

By far the the most difficult problem at this point is bridging Bitcoin with conventional finance and reversible payment systems.

We're sending some more funds up north to Paxum to replenish the account. We've received a lot of demand and people who want to use Paxum. As soon as that wire hits we'll disperse it to people who are waiting. I want to apologize for the delay.

Jered

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Bigpiggy01
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August 07, 2011, 04:10:18 AM
 #57

Jered,

Can we take your last comment as meaning that all outstanding Paxum withdrawals including EURO should clear Monday-Tuesday?

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