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Author Topic: Tradehill.....we have a problem.  (Read 3496 times)
yochdog
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January 14, 2012, 05:39:31 PM
 #1

It has been 10 days since their blog post about suspending checks and wires, and 5 days since they were to re-commence operations.  I have written multiple e-mails and have recieved no response, and I have not seen any posts by the Tradehill team on the forums for several days.  

Since the initial news of no wires or checks, it seems that Paxum withdrawals are also suspended.  This has not been confirmed by Tradehill, but I have had a request "in process" for a week.  Finally, I am now unable to even do a BTC transfer from my account, as this also shows "in process" for days.  This is particularly alarming, as the whole point of BTC is seemless payments with no outside interference.  Banks giving Tradehill problems should have ZERO impact on their ability to continue taking in BTC and transferring out BTC.  

I would like to put together a list of other Tradehill customers currently experiencing these issues, and perhaps others (I have only tried Paxum and BTC transfers).  Please post on this thread similar issues or others you are having.  Maybe it is just my account that is on the fritz, but I doubt it.  

Message to Tradehill:  I want to believe there is nothing nefarious going on, but the lack of communication and failure to complete BTC transfers is making it very hard to maintain trust.  Please come out and at least update everyone on the situation, and address why BTC transfers are now informally suspended.

Thank you.  

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niooron
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January 14, 2012, 06:36:59 PM
 #2

Even CLP withdrawals are delayed. I wonder what happened.

14dxwuQwkQiLbZjJFfciZ26xSGdRU5mKEp
yochdog
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January 14, 2012, 06:49:21 PM
 #3

subbed.

Subbed?

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teek
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January 14, 2012, 06:51:25 PM
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Yep.  I am not having any problems with tradehill myself, only used them once or twice, but I am curious so I have subscribed to this thread.

yochdog
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January 14, 2012, 06:56:13 PM
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Yep.  I am not having any problems with tradehill myself, only used them once or twice, but I am curious so I have subscribed to this thread.

Ahh, gotcha.  Try a btc withdrawal and report back if it works!

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January 14, 2012, 06:58:07 PM
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I have done a SMALL BTC withdrawal (under 1btc) and it worked last night.  Not trying to minimize the problem you are having, just saying there is some automation working. 

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January 14, 2012, 06:59:12 PM
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Giving it a try here, will update Smiley


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January 14, 2012, 07:48:48 PM
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I was able to successfully withdraw BTC from TH.

Haven't tried a Paxum withdrawal but I don't have any $$$ in there right now, only had BTC.


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teek
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January 14, 2012, 07:49:31 PM
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I was able to successfully withdraw BTC from TH.

Haven't tried a Paxum withdrawal but I don't have any $$$ in there right now, only had BTC.



how much did you withdraw?

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January 14, 2012, 07:51:25 PM
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I was able to successfully withdraw BTC from TH.

Haven't tried a Paxum withdrawal but I don't have any $$$ in there right now, only had BTC.



how much did you withdraw?


5BTC



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yochdog
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January 14, 2012, 08:46:46 PM
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FFfffff.....perhaps I should have broken my 200+ withdrawal up into smaller amounts.

Now I have to wait and hope.  I hate the fact that TH does not have a cancel option. 


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January 14, 2012, 10:07:57 PM
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I have had poor experience with their customer service previously but in the end the problem was fixed so hopefully that is the case here too.

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yochdog
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January 14, 2012, 10:14:30 PM
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I have had poor experience with their customer service previously but in the end the problem was fixed so hopefully that is the case here too.

I have had similar experience, but this is by far the longest they have taken to respond.....they seem to have fallen onn the face of the earth. 

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
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January 15, 2012, 01:20:31 AM
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FFfffff.....perhaps I should have broken my 200+ withdrawal up into smaller amounts.

Now I have to wait and hope.  I hate the fact that TH does not have a cancel option. 



I know any withdrawals over 100 BTC need to be manually approved by their staff, so that could be the holdup.  There should really be a note on the site mentioning that.

Usually I break my withdrawals up into several smaller ( < 100 ) withdrawals just to avoid that.
yochdog
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January 15, 2012, 01:32:25 AM
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FFfffff.....perhaps I should have broken my 200+ withdrawal up into smaller amounts.

Now I have to wait and hope.  I hate the fact that TH does not have a cancel option. 



I know any withdrawals over 100 BTC need to be manually approved by their staff, so that could be the holdup.  There should really be a note on the site mentioning that.

Usually I break my withdrawals up into several smaller ( < 100 ) withdrawals just to avoid that.

I just recieved a PM from Jared at Tradehill.  He indeed had o approve it manually, and he did.  The BTC is now in my wallet.

I retract my criticism of tradehill, and I really appreciate them working to make things right.  They have my apologies for thinking that perhaps things were not on the up and up.

I am a trusted trader!  Ask Inaba, Luo Demin, Vanderbleek, Sannyasi, Episking, Miner99er, Isepick, Amazingrando, Cablez, ColdHardMetal, Dextryn, MB300sd, Robocoder, gnar1ta$ and many others!
Jered Kenna (TradeHill)
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January 15, 2012, 01:44:55 AM
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FFfffff.....perhaps I should have broken my 200+ withdrawal up into smaller amounts.

Now I have to wait and hope.  I hate the fact that TH does not have a cancel option. 



I know any withdrawals over 100 BTC need to be manually approved by their staff, so that could be the holdup.  There should really be a note on the site mentioning that.

Usually I break my withdrawals up into several smaller ( < 100 ) withdrawals just to avoid that.

I just recieved a PM from Jared at Tradehill.  He indeed had o approve it manually, and he did.  The BTC is now in my wallet.

I retract my criticism of tradehill, and I really appreciate them working to make things right.  They have my apologies for thinking that perhaps things were not on the up and up.

I won't fault you at all for calling us out when there is a substantial delay. We're the ones that owe you an apology. Please bring it to our attention so we can prevent it from happening in the future whenever possible. When something goes wrong with the banks it increases our workload tremendously but we're working on new processes to both streamline it and increase reliability.

The manual approvals aren't fun for either us or our customers but if something does go horribly wrong manual approvals combined with cold storage will seriously mitigate loses.

If anyone still has BTC locked up please let me know and I'll look for it specifically but they should all be on their way at this point.

Thanks again for the comments they're truly appreciated.

Jered

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carlerha
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January 15, 2012, 02:19:58 PM
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Sorry to be asking this here, but I guess I'm not the only customer with this question (and I haven't really gotten any e-mail response to this either):

I wired 300 USD just before the bank problems were announced. It bounced back as 217 USD, meaning some $83 got lost to accumulated overhead *somewhere* (no, it's not due to a sudden jump in currency rates)

Firstly, I'm not willing to finance whatever bank issues Tradehill is having, and ask that my account be credited with the outstanding amount (please make a statement on this Jared).

Secondly: WTF! $83 in overhead!! Now my excitement and motivation about Bitcoin just reimbursed!

Serge
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January 15, 2012, 05:02:58 PM
 #18

Sorry to be asking this here, but I guess I'm not the only customer with this question (and I haven't really gotten any e-mail response to this either):

I wired 300 USD just before the bank problems were announced. It bounced back as 217 USD, meaning some $83 got lost to accumulated overhead *somewhere* (no, it's not due to a sudden jump in currency rates)

Firstly, I'm not willing to finance whatever bank issues Tradehill is having, and ask that my account be credited with the outstanding amount (please make a statement on this Jared).

Secondly: WTF! $83 in overhead!! Now my excitement and motivation about Bitcoin just reimbursed!

that's a problem with banks/wires
they charge you for a wire, then if wire can't get through for some reason it travels back and new wire fees being deducted along the way through intermediaries plus your own bank takes a cut for receiving it back too. you can't blame bitcoin or Tradehill for this and banks will just tell you it's the way wires work.  unfortunate situation to loose that much on a small wire
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January 15, 2012, 05:06:44 PM
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Sorry to be asking this here, but I guess I'm not the only customer with this question (and I haven't really gotten any e-mail response to this either):

I wired 300 USD just before the bank problems were announced. It bounced back as 217 USD, meaning some $83 got lost to accumulated overhead *somewhere* (no, it's not due to a sudden jump in currency rates)

Firstly, I'm not willing to finance whatever bank issues Tradehill is having, and ask that my account be credited with the outstanding amount (please make a statement on this Jared).

Secondly: WTF! $83 in overhead!! Now my excitement and motivation about Bitcoin just reimbursed!

that's a problem with banks/wires
they charge you for a wire, then if wire can't get through for some reason it travels back and new wire fees being deducted along the way through intermediaries plus your own bank takes a cut for receiving it back too. you can't blame bitcoin or Tradehill for this and banks will just tell you it's the way wires work.  unfortunate situation to loose that much on a small wire


yes my bank charges a flat $40 to wire, no matter the amount.  most economical way for large sums but not so much for small sums.
Serge
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January 15, 2012, 05:13:55 PM
 #20

yes my bank charges a flat $40 to wire, no matter the amount.  most economical way for large sums but not so much for small sums.

yup, international wires cost $40 to send from US. receiving wire fees $15-25 in US and in some countries they take ~1% on top of flat fee too.
anything below 1k is very expensive to wire
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