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Author Topic: No wonder TradeHill has low market share?  (Read 2027 times)
Ferroh
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November 08, 2011, 01:53:10 PM
 #1

I tried to deposit to Tradehill just now, to try out their exchange.

The site that they recommend is BitInstant, which only supports transferring to TradeHill (did TradeHill make BitInstant?).

None of the deposit methods at BitInstant seem to work. (Edit: because they ran out of cash on the TradeHill side, which was corrected a couple of hours after this post.)

When trying to send funds ($21), the error I get is:

"You are doing something outside of defined parameters, such as submitting a form with an amount above our current transaction limits. Should you wish to proceed with the transaction then please contact support for assistance."

The javascript on the BitInstant page is also broken, and doesn't update your amounts half of the time, so usually when you try to pay it thinks you are sending $0, because it uses the amount given by the javascript, instead of the amount in the POST field!

Has anyone else ever used BitInstant?

Here is a screenshot of the BitInstant page currently: http://i.imgur.com/UoKab.png

Here is BitInstant's site: https://www.bitinstant.com

Oh and did I mention that Chrome reports that their SSL certificate is broken?




Edit:


Garesh from BitInstant contacted TradeHill for me to get my withdrawals manually processed.

It also turns out that the issues I raised with BitInstant's site are pretty minor, and are being patched in the next few days anyway.

Overall my experience now with BitInstant has been very positive, and Garesh was super helpful.

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epetroel
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November 08, 2011, 02:12:00 PM
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I've used BitInstant many, many times.  If you look at the page now, they are showing the max amount as $1, which probably means they are out of money at TradeHill and waiting for a transfer.  That would also be why you got the error message when you tried to do your transfer.

As for the JavaScript and SSL cert issues, haven't seen that, but I'm using Firefox, so that may be a chrome specific thing.

Overall, when the service works, it works great.  If it doesn't work, just e-mail their support.  They are really good about responding to support requests and making sure things are taken care of.
Ferroh
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November 08, 2011, 02:17:39 PM
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Oh I see. They are out of money.

Having never used BitInstant before, this wasn't clear to me.

Thanks for the reply Smiley
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November 08, 2011, 02:21:09 PM
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Bitinstant was not created by TradeHill. They are a recent service that allows you to make instant deposits between exchanges, but they only work with TradeHill for now. There are a few other deposit methods at TradeHill.
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November 08, 2011, 02:22:54 PM
 #5

Well damn, I'm trying to move all my money onto TradeHill right now and this is pretty unfortunate Sad

(BFL)^2 < 0
epetroel
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November 08, 2011, 02:31:15 PM
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Well damn, I'm trying to move all my money onto TradeHill right now and this is pretty unfortunate Sad

Apparently lots of other people are doing the same, given the huge price difference at the moment between TH and Gox Smiley
DeathAndTaxes
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November 08, 2011, 04:24:02 PM
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Well damn, I'm trying to move all my money onto TradeHill right now and this is pretty unfortunate Sad

Apparently lots of other people are doing the same, given the huge price difference at the moment between TH and Gox Smiley

Which is likely why they are out of money.  Wish I had jumped on bit-instant right away. Grin
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November 08, 2011, 04:54:46 PM
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Oh I see. They are out of money.

Having never used BitInstant before, this wasn't clear to me.

Thanks for the reply Smiley

just how do you "run out of money"?  trying to get money there too. Huh
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Gerald Davis


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November 08, 2011, 05:16:57 PM
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Oh I see. They are out of money.

Having never used BitInstant before, this wasn't clear to me.

Thanks for the reply Smiley

just how do you "run out of money"?  trying to get money there too. Huh

They hold reserve of funds in each exchange.
If people want money @ Tradehill they collect money @MtGox and issue money at Tradehill.  If the flow is all one-sided they eventually they will end up with all their cash at @MtGox and no cash @Tradehill.  To rebalance they need to use the slow methods to move money back.

So it isn't they are out of money it is they have money in the wrong place.
Instead of X @ Tradehill and X @ MtGox they have 2X at MtGox and 0X as Tradehill.
Ferroh
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November 08, 2011, 05:24:32 PM
 #10

On another note, two of my TradeHill withdrawals have been "In Process" for well over an hour now.

I'd like to know why it is taking them so long to send my coins...

It's only ~340 coins.

Edit:

Gareth from BitInstant was a big help. He contacted TradeHill for me and got them to speed up my withdrawals manually.

Also he says that a patch is being issued soon to fix the BitInstant issues (which turn out to be admittedly minor issues).

Thanks BitInstant Smiley
Yankee (BitInstant)
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Charlie 'Van Bitcoin' Shrem


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November 08, 2011, 05:50:10 PM
 #11


Gareth from BitInstant was a big help. He contacted TradeHill for me and got them to speed up my withdrawals manually.

Also he says that a patch is being issued soon to fix the BitInstant issues (which turn out to be admittedly minor issues).

Thanks BitInstant Smiley

Your welcome Smiley

Our reserves ran out over night last night. They were topped up this morning. We are in the process of fixing the error so it's more accurate.
Our SSL certificate is fine, we have some 'Share This' code on the bottom of the homepage that dosen't come in securely, we're working on that as well as the Document Type Definition header.

We're gonna be adding Withdrawals from MtGox, TradeHill, Intersango, and Wirwox within a few weeks! You will be able to instantly withdraw and instant inter exchange transfers of USD!

If you have any questions or comments, feel free to shoot me an email or PM.

Charlie

Bitcoin pioneer. An apostle of Satoshi Nakamoto. A crusader for a new, better, tech-driven society. A dreamer.

More about me: http://CharlieShrem.com
ineededausername
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November 08, 2011, 05:51:25 PM
 #12

On another note, two of my TradeHill withdrawals have been "In Process" for well over an hour now.

I'd like to know why it is taking them so long to send my coins...

It's only ~340 coins.

Edit:

Gareth from BitInstant was a big help. He contacted TradeHill for me and got them to speed up my withdrawals manually.

Also he says that a patch is being issued soon to fix the BitInstant issues (which turn out to be admittedly minor issues).

Thanks BitInstant Smiley

I had a 240 coin withdrawal just then and it took about 2 hours.  They're just being slow right now.

(BFL)^2 < 0
epetroel
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November 08, 2011, 05:56:28 PM
 #13

On another note, two of my TradeHill withdrawals have been "In Process" for well over an hour now.

I'd like to know why it is taking them so long to send my coins...

It's only ~340 coins.

Edit:

Gareth from BitInstant was a big help. He contacted TradeHill for me and got them to speed up my withdrawals manually.

Also he says that a patch is being issued soon to fix the BitInstant issues (which turn out to be admittedly minor issues).

Thanks BitInstant Smiley

I had a 240 coin withdrawal just then and it took about 2 hours.  They're just being slow right now.

IIRC, any withdrawals for over 100 BTC are manually approved.  So if you want things to go faster, break it up into several smaller transfers.
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November 08, 2011, 07:21:34 PM
 #14

I'll just mention this since, for whatever reason, it does not seem to be considered very often.

I have wired money to Tradehill maybe 4 or 5 times (US domestic) by stopping by my bank on my way to work.  2 or 3 of those times, the money has been ready to trade by early afternoon.  Lately it has taken till early the next business day.

The wire fee for me is something like $20.00.  So the transfer fee if I do a grand or two is %1 or %2.  I don't want more cash than I absolutely need to have in any exchange in case they run into problems.  Unfortunately this fear has contributed to my expediting some BTC purchases rather than being more patient.  Even mainstream outfits with all their regulations and what-not can go belly-up and cause individual traders a lot of grief (e.g., MF Global) so I always expect it as a distinct possibility with these Bitcoin outfits.

I withdraw most of my BTC from the exchange regularly.  While this is normally pretty quick, Tradehill went through a phase of taking their sweet-ass time but seem to be back on track now.  It could be that they whitelist users who they've already researched or something.


bitcon
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November 09, 2011, 03:27:20 PM
 #15

this is what their (TH) site tells me when i try to make a check withdrawal:  You already have two outstanding withdraw requests like this. Please choose a different method or wait for your current requests to complete.

The only reason i have "two outstanding requests like this" is because its been almost a week, (in the past it has only taken a day or two) and they have done nothing to process my current withdrawals. very bad service.

Darren (TradeHill)
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November 09, 2011, 05:46:03 PM
 #16

Hello bitcon- please send an e-mail to info@tradehill.com with your username and we'd be happy to look into this.  We recently discovered an issue with our customer service client and e-mail client which has since been fixed, which may have resulted in a delay in communication.  Check withdrawals are generally processed same day in Citibank during weekdays, and will only be delayed in there is missing information from the withdrawal request, or if a user's activity requires that they are verified for AML compliance.
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