TradeHill - shutting down trading / deposits and returning all client funds

[Jered Kenna (TradeHill)]

::::: Announcement :::::: TradeHill suspending trading and returning client funds.


 Dear Clients,


Effective immediately TradeHill will be shutting down trading / deposits and returning all client funds.  Due to increasing regulation TradeHill can not operate in it's current capacity without proper money transmission licensing. Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds.

SEPA transfers for our Euro customers have been enabled.

Everyone at TradeHill has also been working without pay for several months after one of our payment processors removed over $100,000 dollars from our account without notice. We decided to cover this loss for now instead of passing it on to our customers and are taking legal action against the processor.

We will be focusing on Bitcoin.com and are preparing to release a new site before the end of the month.
It has been a pleasure working with the Bitcoin community and look forward to continuing our business in the future. More details to come soon.


Please follow our blog for more updates. tradehillblog.com

Sincerely,


Jered Kenna
Chief Executive Officer
TradeHill

Edit: We've received a lot of questions regarding donating your remaining balance to Bitcoin.com development. We've enabled a method to donate in all of the currencies and Bitcoin. 100% of these funds will go to Bitcoin.com development and keeping a community element present on the site. We have a great team lined up that we are preparing to announce and changes in the works to be released very soon. Thank you for all of your support. The Bitcoin community is what inspired us to start the exchange in the beginning and will continue to provide growth for Bitcoin.

Edit 2: We've had a few requests for an address to send Bitcoins. If you want to donate to Bitcoin.com development you can send Bitcoins to:   13Lvy1CCHi7fYHHVarGvuXnSg3ZccvGmyg

[cryptoanarchist]

 

[MiningBuddy]

I wish you all the best and good luck for the future 

[bbit]

 

[jimbobway]

You don't mind revealing the name of the payment processor that took $100K form you?  I know that Dwolla took $10K from you guys before.

[vuce]

Hoping tradehill 2.0 will be even better.

[talpan]

with the recent lack of support it hat to go down this way...

[rjk]

You don't mind revealing the name of the payment processor that took $100K form you?  I know that Dwolla took $10K from you guys before.

+1, such processors ought to be hunted down like the dogs they are. Perhaps there should be a 1 day (or more?) mandatory delay for deposits from untrusted payment processors.

[Indemnified]

Thanks Jered. I have appreciated your honesty and business ethics. I would welcome the opportunity to be an investor in your new endeavor.

[Isepick]

About how long are we looking at to get our Bitcoins back?

[Scott J]

 

[kiba]

It appears that bitcoin exchanges are the weakest link in the bitcoin economy.

[Jered Kenna (TradeHill)]

About how long are we looking at to get our Bitcoins back?

Immediately, submit a withdraw and they'll go out.

Jered

[JackH]

Name of processor would be quite important for the industry to know. First of all it will definitely keep anyone in this business away from them.

Second of all, payment processor or not, this deserves to be online so that the fuckers know we know who they are.

[Jered Kenna (TradeHill)]

You don't mind revealing the name of the payment processor that took $100K form you?  I know that Dwolla took $10K from you guys before.

Dwolla was larger than 10k and to clarify this doesn't have anything to do with the Paxum shutdown. Our relationship has been great.
We'll speak more about the processor in the future.

-Jered

[kiba]

Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds.

Guys. Tradehill is not dead dead.  They just need licensing and some fundraiser, I think.

Or maybe Jered Kenna could clarify the status of Tradehill so we know that it's dead dead or just temporary dead.

[Isepick]

About how long are we looking at to get our Bitcoins back?

Immediately, submit a withdraw and they'll go out.

Jered

Thank you. Looking forward to the new site when it comes out. Good luck.


For anyone else concerned, I successfully withdrew my bitcoins from TradeHill.

[nmat]

Jered is there any way to withdraw money from TradeHill into MtGox or other exchange? Maybe through bitinstant... I'm from Europe and I have USD in TradeHill and I wanted to avoid high fees from a wire transfer + currency conversion.

[Jered Kenna (TradeHill)]

Combined with multiple bank account closures and Paxum's decision to close all Bitcoin business accounts, we have deemed the best course of action is to halt trading and pursue licensing while raising funds.

Guys. Tradehill is not dead dead.  They just need licensing and some fundraiser, I think.

Or maybe Jered Kenna could clarify the status of Tradehill so we know that it's dead dead or just temporary dead.

Exactly, specifically concerning California licensing. We can modify our existing business while we go through the licensing process. It's in depth, expensive and not trivial.

The important part now is to return the funds to the clients and move on. As Bitcoin grows compliance becomes even more important and we're taking it seriously.

Jered

[Jessynoo]

Jered is there any way to withdraw money from TradeHill into MtGox or other exchange? Maybe through bitinstant... I'm from Europe and I have USD in TradeHill and I wanted to avoid high fees from a wire transfer + currency conversion.

Hi Jered, I'm in the same situation here. A redeemable MtGox code would be ideal.
Cheers

[Portnoy]

Jered is there any way to withdraw money from TradeHill into MtGox or other exchange? Maybe through bitinstant... I'm from Europe and I have USD in TradeHill and I wanted to avoid high fees from a wire transfer + currency conversion.

With no paxum I have no good way of getting my usd out either. If there isn't a way I could transfer it to MtGox could you send me the equivalent in btc?

/edit:

A redeemable MtGox code would be ideal.

And how long is withdrawing btc supposed to take? Isn't it supposed to be almost instantaneous?   in process... still waiting...
/edit: It just went through. 


Thanks

[oOoOo]

Isn't there a way for you to move operations offshore? I'm sure Chile is far more friendly towards finance related businesses than an over-regulated place like the US?
.

[nmat]

Jered is there any way to withdraw money from TradeHill into MtGox or other exchange? Maybe through bitinstant... I'm from Europe and I have USD in TradeHill and I wanted to avoid high fees from a wire transfer + currency conversion.

Hi Jered, I'm in the same situation here. A redeemable MtGox code would be ideal.
Cheers

I talked with Bitinstant on IRC and they told me that they are setting up a system for withdrawals from TradeHill into other exchanges. From what they told me it will be ready in a few days.

[the joint]

Resolved

[sonba]

Really a pitty - I loved TH
Well, all the best for the next project and your suit against dwolla and tanks for the excellent service!

[Yankee (BitInstant)]

Repasted from this thread: https://bitcointalk.org/index.php?topic=63762.0

--------

Firstly,

I want to say what an honor it was been working with Jered, Adam, and Berk @ TradeHill. I've never came across such a fantastic team of people.
Most of you may not know this but Jered and Adam have been an integral part of Bitinstant, and have been working with us since day 1.
Jered and I have become close friends and I have never worked with such a ethical and hardworking team.

We are currently finishing up our TradeHill withdrawal system, it will be ready within 48 hours.

You will be able to withdaw your TradeHill USD to the following destinations:

-MtGox
-CryptoXchange
-VirWox
-Bitcoinica
-Dwolla (Will be ready by Friday)

While we're not sure what fee we will charge (if any) it will be very low. 

If you would like to be made aware as soon as its ready, please reply to this thread https://bitcointalk.org/index.php?topic=63762.0 and I will PM you when we launch.

The system will be simple, go to Withdrawal Options in your TradeHill Account and choose BitInstant.
We hate to see TradeHill go, and we will do everything in our power to not let the Bitcoin liquidity be effected by it.

-Charlie, Gareth and the Team @ BitInstant.com

[trentzb]

I wish you good fortune Jered/TH. But I must say not responding to queries (or timely response) about funds held at TH over the past couple weeks is the single most important reason I won't do business with Gox/TH and I know of several others that feel the same way. When I ran a business that suffered outages and periodic failures the first priority was solving the failures but equal and sometimes higher priority for some customers was honestly conveying the situation...not making promises I *might* not keep, but advising customers and allowing them to choose to wait it out or not. I saved better than 99% of customers this way, failures were rare but when they occurred and the customer was communicated with, I saved a customer almost for life. I couldn't get rid of some if I tried, they won't leave.

When I had to admit I failed a customer or let them down I didn't want to admit it (regardless of whether my fault or a providers fault), least of all to them. But I found it made all the difference in the world to them and when running a datacenter for them...I suppose running financial based businesses may be considerably different.

I just would like to encourage all the exchanges and Bitcoin businesses, talk to your customers, even when it is painful and you don't have the time. You may be surprised by what you find.

BTW, I had no funds in TH or Gox during either of their issues...I suppose it is easier for me to critique as such...

Edit: I don't intend to be bashing TH, rather just suggesting a method of success that worked for me,  no matter if it was a $2k/mo T1 customer or a $20/mo 56k dialup (yes, it was 1990's)

[Sukrim]

AUD   1.0505165637
CLP   3.5642268
EUR   0.4505647183
LR   0.5729219078
USD   2.0118972398

...and no way of getting rid of these soon (except the USD, but then I'd have to trust bitinstant + mtgox or other bitinstant partners - which I don't).
 

I sure hope you get TH back on track!

[Jessynoo]

I talked with Bitinstant on IRC and they told me that they are setting up a system for withdrawals from TradeHill into other exchanges. From what they told me it will be ready in a few days.

Good to hear Charlie will be our savior once more (he already helped quite a few of us after the exchangebitcoins shutdown).
I just hope it won't become too much of a habit ;-)

Anyway, I'm sorry you had to take that decision Jered.

It's probably a bit late for that kind of reflection, but since it will be the 3rd bot I have to shut down on dnnbitcoin, I suppose I can add my 2 satoshis:
I reckon setting the minimum order to 1$ was part of the problem. I understand that your environment could not handle too much traffic for some reason, but that limit prevented you from collecting substantial fees, not only from users with little resources, but also from market making bots like ours, which issue many small orders around the spread. Over the past month, most Mt Gox bots on our platform have generated about 10 fold their users' resources in monthly transactions whereas Tradehill bots would generate only a fraction of that, because of that limit.

Hopefully you can sort that out together with your licensing.

Regards

[Jered Kenna (TradeHill)]

I wish you good fortune Jered/TH. But I must say not responding to queries (or timely response) about funds held at TH over the past couple weeks is the single most important reason I won't do business with Gox/TH and I know of several others that feel the same way. When I ran a business that suffered outages and periodic failures the first priority was solving the failures but equal and sometimes higher priority for some customers was honestly conveying the situation...not making promises I *might* not keep, but advising customers and allowing them to choose to wait it out or not. I saved better than 99% of customers this way, failures were rare but when they occurred and the customer was communicated with, I saved a customer almost for life. I couldn't get rid of some if I tried, they won't leave.

When I had to admit I failed a customer or let them down I didn't want to admit it (regardless of whether my fault or a providers fault), least of all to them. But I found it made all the difference in the world to them and when running a datacenter for them...I suppose running financial based businesses may be considerably different.

I just would like to encourage all the exchanges and Bitcoin businesses, talk to your customers, even when it is painful and you don't have the time. You may be surprised by what you find.

BTW, I had no funds in TH or Gox during either of their issues...I suppose it is easier for me to critique as such...

Edit: I don't intend to be bashing TH, rather just suggesting a method of success that worked for me,  no matter if it was a $2k/mo T1 customer or a $20/mo 56k dialup (yes, it was 1990's)

I appreciate the feedback and it's great advice. There are things we should have done differently I won't dispute that at all. We were really caught off guard when both of our primary bank accounts were closed without warning and forced to wait for the funds to be released. With Chase it took nearly 20 days to get the funds out. That said we had to downsize to conserve funds and no one at TradeHill had been getting paid for several months. We will be concentrating much more on our communication during this shutdown period and in the future.

Thanks,
Jered

[Gavin Andresen]

AUD   1.0505165637
CLP   3.5642268
EUR   0.4505647183
LR   0.5729219078
USD   2.0118972398

...and no way of getting rid of these soon (except the USD, but then I'd have to trust bitinstant + mtgox or other bitinstant partners - which I don't).
 

I've got about $12 USD in my TradeHill account:  Jered, please keep it, you deserve it, I know how hard you've worked and how hard a fight it is to interface with our designed-in-the-1960's-duct-tape-and-bailing-wire rats-nest-of-regulations banking/finance system.

[jothan]

Ouch.

Dealing with TradeHill has always been a pleasure, looking forward to do some trading again once you get yourselves back up !

Cheers.

[oOoOo]

I've got about $12 USD in my TradeHill account:  Jered, please keep it, you deserve it, I know how hard you've worked and how hard a fight it is to interface with our designed-in-the-1960's-duct-tape-and-bailing-wire rats-nest-of-regulations banking/finance system.

^Agreed! I just donated half of my BTC to the bitcoin.com dev and I would like to donate the remainder I have in my account to the Tradehill team!
All the best,
oOo

[Jered Kenna (TradeHill)]

AUD   1.0505165637
CLP   3.5642268
EUR   0.4505647183
LR   0.5729219078
USD   2.0118972398

...and no way of getting rid of these soon (except the USD, but then I'd have to trust bitinstant + mtgox or other bitinstant partners - which I don't).
 

I've got about $12 USD in my TradeHill account:  Jered, please keep it, you deserve it, I know how hard you've worked and how hard a fight it is to interface with our designed-in-the-1960's-duct-tape-and-bailing-wire rats-nest-of-regulations banking/finance system.

Thanks Gavin,

There are a lot of people holding between ten cents and ten dollars with us. We enabled a method to donate to Bitcoin.com development that you're welcome to use. We're going to use 100% of these funds for development on the site and want it to have plenty of features for the community. It's naturally the first place a lot of people go and we don't want to use it exclusively for ourselves. It should always have plenty of information about Bitcoin it's self and links to other useful sites within the community.

We've actually had a surprising number of people send us emails saying something similar. We truly appreciate the support we've received from the community and want to continue to see Bitcoin grow. Interfacing with the traditional finance / regulation has by far proven to be the hardest and most stressful part.

-Jered

[hashman]

Good luck getting back up and running, your hard work has been very valuable thank you!

[cryptoanarchist]

Jered-

I had a deposit (#43288) from LR that was never added to my TradeHill balance, and now just says 'Canceled'. The money hasn't been sent back to my LR account, though. Will I be receiving that back soon?

[epetroel]

Very sorry to see you guys shut down  

I've been a very active trader at TH for a while now, so it's a real bummer to see you guys go.  I wish you the best with Bitcoin.com, and hope to see Tradehill v2 come back soon!

Sending the 40 some-odd Euro I had laying around your way as well, you guys deserve it, and I have nowhere to withdraw Euro to anyways

[Maria]

july, 29, 2011

Jered my friend. Forget Paxum, they will throw you under the bus as soon as the USA Government puts any type of pressure plus I doubt the heaviness of their wallet.

Please, I know you already deal with liberty reserve but you need to accept Deposits and Withdrawals ONLY via Liberty Reserve. Not treat it as a separate currency as you do right now.

In short, if you only accept Liberty Reserve, you will never suffer from these pains you are suffering now. I offered in the past my help and the offer stays in place...let me know.

Maria.

I warned you but you just did not listen.

Maria.

[Starlightbreaker]

july, 29, 2011

Jered my friend. Forget Paxum, they will throw you under the bus as soon as the USA Government puts any type of pressure plus I doubt the heaviness of their wallet.

Please, I know you already deal with liberty reserve but you need to accept Deposits and Withdrawals ONLY via Liberty Reserve. Not treat it as a separate currency as you do right now.

In short, if you only accept Liberty Reserve, you will never suffer from these pains you are suffering now. I offered in the past my help and the offer stays in place...let me know.

Maria.

I warned you but you just did not listen.

Maria.

yeah, i remember you something along that line.


and luckily, i gave up signing up my account with them.

[Jered Kenna (TradeHill)]

july, 29, 2011

Jered my friend. Forget Paxum, they will throw you under the bus as soon as the USA Government puts any type of pressure plus I doubt the heaviness of their wallet.

Please, I know you already deal with liberty reserve but you need to accept Deposits and Withdrawals ONLY via Liberty Reserve. Not treat it as a separate currency as you do right now.

In short, if you only accept Liberty Reserve, you will never suffer from these pains you are suffering now. I offered in the past my help and the offer stays in place...let me know.

Maria.

I warned you but you just did not listen.

Maria.

I understand where you're coming from but Paxum wasn't the reason we shut down. It was just bad timing.
We haven't had any problems with Paxum and I can't blame them if they were told by their banks to stop working with us.

I appreciate the post though.
-Jered

Jered-

I had a deposit (#43288) from LR that was never added to my TradeHill balance, and now just says 'Canceled'. The money hasn't been sent back to my LR account, though. Will I be receiving that back soon?

Yes, if you already have an open ticket leave it there. If not submit one. I'm going through the backlog now and future emails will be answered much more promptly. We still have a few hundred emails to go though.
-Jered

[micc]

Tradehill has been my favorite exchange place, never late to sent out all my checks . Why not use banks in Cayman Island or Swiss? Hope you guys come back again.

[bitcon]

does this mean i'm not getting my check mailed? i already requested a withdrawal.

[bitcool]

Sorry to hear that. I applaud your honesty and integrity.

Why do we have to exchange fiat paper? bitcoin is too good for that. The world doesn't need yet another exchange, bitcoin.com should show the world e-commerce can be done without any fiat currency.

Just my 2 cents.

[Keyur @ Camp BX]

Jered,
      Sorry to hear that TradeHill is shutting down - you and your team have been great guys to work with.  I hope you stay engaged in the Bitcoin community in future too! 

- Keyur

[bitcon]

just don't run off with my money plz. i need it to pay for tuition!

[finway]

Where to donate?

[BadBear]

This sucks, but better to close it out instead of riding it into the ground. Best of luck in your future endeavors.

[Jered Kenna (TradeHill)]

@bitcon - if it's submitted you should be fine. If you don't get it in a few days let us know.

@bitcool - that's somewhat the idea, we'll see what we can do while avoiding the banks. The exchange market monopoly needs to be broken up either by a decentralized system or more decent exchanges. That's not a shot at Gox and I doubt they would take it as such. It's just adhering to the principal of Bitcoin.

@keyur - Thanks, I appreciate it, I haven't seen you around as much recently and I hope things are going well. Stay in touch and let me know if you're in San Francisco anytime.

@badbear - Thanks, other than legal risks running it in to the ground isn't going to help anyone. Well said.

@finway - if you've got an account with us we added it as a withdrawal option. I've had a few people ask so I'll add a Bitcoin address as well.  Donation address: 13Lvy1CCHi7fYHHVarGvuXnSg3ZccvGmyg

[finway]

Hope you come back later!

[iamapi]

Sorry to hear that, what about mtGox?

[BadBear]

Sorry to hear that, what about mtGox?

They are doing fine as far as I know.

[Fireball]

Sorry to hear that, what about mtGox?

They are doing fine as far as I know.

In addition, I'm about to open ICBIT - https://bitcointalk.org/index.php?topic=60548.0

It's bad to see TradeHill go. Bitcoin community should always have a choice of exchanges so that it's not that easy to "shutdown" the whole Bitcoin project.

[becoin]

We are currently finishing up our TradeHill withdrawal system, it will be ready within 48 hours.

You will be able to withdaw your TradeHill USD to the following destinations:

Such a system for clearing funds between exchanges was offered to TH almost a year ago. It was quite clear that banks will wage an open war against bitcoin sooner than later. Its petty they have decided at that time they are too big to fail and too brilliant entrepreneurs to grab a helping hand...

[cryptoxchange]

Hi Jered,

Best of luck with future Bitcoin projects from Everyone at Crypto X Change.

Take care, talk soon!

[cryptoanarchist]

Jered-

I had a deposit (#43288) from LR that was never added to my TradeHill balance, and now just says 'Canceled'. The money hasn't been sent back to my LR account, though. Will I be receiving that back soon?

Yes, if you already have an open ticket leave it there. If not submit one. I'm going through the backlog now and future emails will be answered much more promptly. We still have a few hundred emails to go though.
-Jered

The ticket (#43288) was for a deposit that you never added to my account. I can't create a withdrawal ticket because the funds were never added. Can you please send funds back to my LR account?

[Yankee (BitInstant)]

We are currently finishing up our TradeHill withdrawal system, it will be ready within 48 hours.

You will be able to withdaw your TradeHill USD to the following destinations:

Such a system for clearing funds between exchanges was offered to TH almost a year ago. It was quite clear that banks will wage an open war against bitcoin sooner than later. Its petty they have decided at that time they are too big to fail and too brilliant entrepreneurs to grab a helping hand...

Thanks,

btw- I just woke up, licked my finger and tried scraping a bug of my screen. Took me two licks to realize it was your signature.

How's that for a 'brilliant entrepreneur' hahaha

-C

[disclaimer201]

I liked TH very much. Too bad I was unable to use it here in Germany ever since SEPA was cancelled. You guys need to come up with exchanges that give people the security to trade bitcoins without dealing with the fiat side of it. Let the people do their transfers via banks and etc themselves. Just create a space where people can trust each other. Take fractions of bitcoins as a fee and/or enable donations on the exchange website in exchange for the service. It's far too risky to deal with actual 'money' anyway.

Best of luck and thank you for all your efforts,

d.

[Desolator]

okay, this is like a triple un-quoted reply to earlier posts.

If all exchanges shut down at once, good, then BTC wouldn't have a price and people would actually have to use BTC itself to buy stuff.

Your LR deposit into tradehill quite possibly didn't go through so after whatever LR's "timeout" is, it should return the funds and just say it was unable to complete, right?  Dunno that for sure since I've never used them, just thought I'd put it out there as a possibility since lots of other financial things work that way.

And finally, to the dude above me, all it would take to ruin that system is 1 criminal and I bet at least 6 would show up, maybe 7 lol.

[Boussac]

I wish the best to you guys at TH from the bitcoin-central.net team here in Europe.
Come back soon. The system would like us to fight with pop-guns but we are non-violent entrepreneurs and they have no idea how much determination and resilience there is in the bitcoin community.

[evoorhees]

If all exchanges shut down at once, good, then BTC wouldn't have a price and people would actually have to use BTC itself to buy stuff.

One of the silliest things I've ever read on these forums  

Sorry to hear of the closing, Jered - you're a gentleman and a scholar. I was always pleased with my Tradehill experiences. Can't wait to see what your team will build next.

[m3ta]

I won't shed a tear for some incompetent losers who take several weeks to reply to emails sent to support@.

Also, DIAF.

[tvbcof]

For the record, Tradehill was the only exchange I used except for a bit of dabbling on with bitmarket.eu early on before I did major purchases.

A small fraction of the time Tradehill would take longer on something than their stated timings, but a quick probe always got things finished right away.  More often in my case, things went a lot quicker than stated.

Tradehill persons have always courteous and professional to me and either implemented my suggestions or took the time to tell me why they were a non-workable idea.

I know that there were occasional system problems, but I never happened to have been effected by them.  Lucky timing.

I never tried to withdraw USD so I cannot speak to that aspect of the business.  Sounds like it was at times a nightmare for both the requestor and Tradehill from what I read on this forum.

In sum, I am very sorry to see Tradehill shutter their doors, and will be delighted if there is an opportunity to do business with the team in the future.  Or will be if they do indeed refund the balances in my account at least

Thanks, Tradehill, for serving my needs well during the time that I was interested in acquiring BTC.

[cryptoanarchist]

If you start a bitcoin exchange, you should go into it with the clear intention of breaking the rules. Have a plan for how to work around government regulations, not comply with them. Otherwise, they'll just put you out of business.

[PrintCoins]

There will always be meat-space:

https://en.bitcoin.it/wiki/In_Person_Traders

I don't like to use exchanges myself, but I think they are critical for a currency. They establish an exchange rate, allow outsiders to easily get into a currency, and provide confidence that you can get out of a currency if it isn't working for you.

In the end though, I think that all exchanges are doomed to failure. The banking and monetary systems control the government and make the rules. Bitcoin treads heavily in their territory and if successful would be extremely destructive to their business. The only reason it has not been shut out completely from the financial system is that it is currently small potatoes.

[Narydu]

I've been doing almost all my transactions over TH. I has been always an excelent experience. I've been talking to Adam personally and know the SEVERAL other problems that had been aking TH during the past months and that you never passed them along but they limited your chances to grow and evolve beyond your own personal unpaid time and efforts.

I know about your bitcoin.com's proyect, intresting things and people are crumbling up. As I told you once, Bitcoin.com is not a site it is a RESPONSABILITY (I know MUCH about this specific "responsability", believe me) and given I know you, and this thread has had only 2 "TH negative like" posts over 80 posts, I think we all trust you and that you have been doing the things right.

Bitcoin.com is yours but let everyone feel part of it! Many people in here are specialists in some areas, and many here have time and funds to provide. Bitcoins is huge if we make it huge and bitcoin.com must be relevant to this revolution.

So I call every holder of small amounts on TH to donate to your/our cause. Me my self I will donate $100 from my balance and 100BTC and every specialist willing to help bitcoin to donate his time.

Good luck again.

[cryptoanarchist]

Christ Jered, am I ever going to get my LR funds back?

[flaxceed]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

[cryptoanarchist]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

That's pretty harsh. Anyone who promotes a system that undermines the nation's fiat system is going to have to deal with infiltration and disruption from high level federal agents. You have no idea what shit is being thrown at these people and what they have to deal with.

[cypherdoc]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

That's pretty harsh. Anyone who promotes a system that undermines the nation's fiat system is going to have to deal with infiltration and disruption from high level federal agents. You have no idea what shit is being thrown at these people and what they have to deal with.

well actually, i'm waiting for him to tell us exactly what that sh*t is.  i'm curious to know if it was significant or not.  and why haven't we heard more about the processor who supposed stole $100K from TH?  the whole community could learn quite a bit about what's going on if Jered would tell us.

[disclaimer201]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

That's pretty harsh. Anyone who promotes a system that undermines the nation's fiat system is going to have to deal with infiltration and disruption from high level federal agents. You have no idea what shit is being thrown at these people and what they have to deal with.

well actually, i'm waiting for him to tell us exactly what that sh*t is.  i'm curious to know if it was significant or not.  and why haven't we heard more about the processor who supposed stole $100K from TH?  the whole community could learn quite a bit about what's going on if Jered would tell us.

Paxum was forced to abandon all BTC business. TH doesn't even need to pin down one single entity for the 100k loss. The suspension of SEPA probably cost them a significant percentage of business, then all that other stuff on top of it. TH must have lost money left and right. Who would work for free for several days, weeks or even months?

[ssaCEO]

Well, no one should work for free...except me, I guess

I haven't really sounded off about this, and maybe for the best, but I'll say while I can appreciate the pressures that were likely brought to bear on TradeHill, it would be a real public service for the community to know exactly what they were and how things went down. It does none of us any good to sit here and speculate about exactly what the final straw was, and it's stupid to talk about shadowy forces and conspiracies, when a lot of things could be explained by a series of bad breaks, inquiries and temporary seizures initiated by a few bank branch managers acting independently.

There's been some talk - pure speculation in our own legal circle - that TradeHill may actually be under a sealed grand jury indictment and unable to talk openly about their situation. Obviously they can't respond to this if that's the case, but I'd be interested to hear if it's not the case, and I think it would put some of the grander "great powers" conspiracies to rest.

It's not easy to eke out a living with a tiny, volatile, fledgling market like Bitcoin; and even less so if you're taking abuse from your payment processors while trying to hold your customers' accounts intact and maintain your reputation. Despite their lack of communication at the end (which again, I think may not have been their choice but rather imposed by a court - time will tell), TradeHill never acted with malice or took anything from their customers. It will be interesting to know if our conjecture was accurate, but again we might not find that out for awhile.

[ssaCEO]

Paypal's HQ is in San Jose and the District Attorney in charge of consumer fraud used to be one of the first corporate attornies for Paypal.

So, that's a yes, they're under indictment? On what charges?

[Boussac]

Paypal's HQ is in San Jose and the District Attorney in charge of consumer fraud used to be one of the first corporate attornies for Paypal.

Another example of the financial lobby at work is the so-called FATF. An organisation whose sole purpose in life is to promote legislations that protect the incumbents of the financial system.
here is a gem from their most recent piece of ...: they are writing about prevention of money laundering and terrorism:
"In the case of financial institutions, such a risk assessment should take place prior to the launch of the new products, business practices or the use of new or developing technologies."

see https://bitcointalk.org/index.php?topic=64201.0

[trentzb]

as I said before, communication from TH will ultimately determine whether rev2 will succeed or fail.

[ssaCEO]

Again, it's useless to blame a lobby or a government unless we know what's going on, and I still haven't heard a response. Indictment? Yes or no, and by what country and on what charge?

Anyone who leaps to conclusions without having the basic facts is only doing damage by setting up straw-men.

[cryptoanarchist]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

That's pretty harsh. Anyone who promotes a system that undermines the nation's fiat system is going to have to deal with infiltration and disruption from high level federal agents. You have no idea what shit is being thrown at these people and what they have to deal with.

well actually, i'm waiting for him to tell us exactly what that sh*t is.  i'm curious to know if it was significant or not.  and why haven't we heard more about the processor who supposed stole $100K from TH?  the whole community could learn quite a bit about what's going on if Jered would tell us.

From my experience fighting the federal government, its not always that simple. First, bringing all their problems to the forum would be a horrible idea. Most of what the government is doing to monetary revolutionaries isn't overt legal action, but covert disruption. Tradehill probably isn't sure themselves who the infiltrators in their organization are. Trying to bring that kind of thing to the forum would not only reveal their cards, but could also lead to infighting and other complicated issues, not to mention further speculation on this forum from trolls that would only cause further damage.

Most of you who complain work regular jobs and pay taxes to a corrupt government who uses your money to blow people up. Most of you have never stuck your neck out at all to change things in this country. Most of you need to STFU and be happy bitcoins and bitcoin exchanges even exist at all.

Bitcoin exchanges are part of a financial war that will determine the future of the entire globe. Stop acting like its all supposed to function like regular businesses. Realize that like any war there are going to be risks, and that you might get hurt.

[cypherdoc]

It's kind of strange that people feel compelled to stand up for Jered now considering the guy was a ghost and left all of his customers twisting in the wind for a month.  I just don't understand why you people want to get on this thread and kiss the loser's ass.

That's pretty harsh. Anyone who promotes a system that undermines the nation's fiat system is going to have to deal with infiltration and disruption from high level federal agents. You have no idea what shit is being thrown at these people and what they have to deal with.

well actually, i'm waiting for him to tell us exactly what that sh*t is.  i'm curious to know if it was significant or not.  and why haven't we heard more about the processor who supposed stole $100K from TH?  the whole community could learn quite a bit about what's going on if Jered would tell us.

From my experience fighting the federal government, its not always that simple. First, bringing all their problems to the forum would be a horrible idea. Most of what the government is doing to monetary revolutionaries isn't overt legal action, but covert disruption. Tradehill probably isn't sure themselves who the infiltrators in their organization are. Trying to bring that kind of thing to the forum would not only reveal their cards, but could also lead to infighting and other complicated issues, not to mention further speculation on this forum from trolls that would only cause further damage.

Most of you who complain work regular jobs and pay taxes to a corrupt government who uses your money to blow people up. Most of you have never stuck your neck out at all to change things in this country. Most of you need to STFU and be happy bitcoins and bitcoin exchanges even exist at all.

Bitcoin exchanges are part of a financial war that will determine the future of the entire globe. Stop acting like its all supposed to function like regular businesses. Realize that like any war there are going to be risks, and that you might get hurt.

well, first of all he's the one who brought up the payment processor who supposedly "stole", "withheld" $100K so we're only waiting to hear more about what he already promised to enlighten us with.  so lets start with that before you start slinging more arrows.

[cryptoanarchist]

well, first of all he's the one who brought up the payment processor who supposedly "stole", "withheld" $100K so we're only waiting to hear more about what he already promised to enlighten us with.  so lets start with that before you start slinging more arrows.

I'm not the one slinging arrows. I'm trying to hold up a shield against those who are a little too critical of people who DO stick their necks out. Bernard von Nothaus is about to go to prison for the rest of his life for attempting to compete with the federal monetary system, and the feds publicly stated that they were going to undermine all other efforts through infiltration and disruption.

Tradehill has ZERO obligation to tell you about who ripped them off. Would a General at war tell all his troops all the details they've collected from intel, or only what they need to know? Like I said before, you simply don't understand what these people are up against.

Their are only two types of people who start bitcoin exchanges, and neither are petty scammers. They are either government controlled opposition (I suspect Intersango/Britcoin among others), or they are super genius people who are trying to change the world. Your criticism is foolish if they are the former, downright disrespectful if they are the latter.

[ssaCEO]

From my experience fighting the federal government, its not always that simple. First, bringing all their problems to the forum would be a horrible idea. Most of what the government is doing to monetary revolutionaries isn't overt legal action, but covert disruption. Tradehill probably isn't sure themselves who the infiltrators in their organization are.

Okay, you're saying they were infiltrated? Can you back up that claim, and/or why do you think that? Who at TH was working for a government? Because frankly this sounds childish, paranoid and stupid if you know how the US gov't works (excluding the secret part that's persecuting you, of course).

Most of you who complain work regular jobs and pay taxes to a corrupt government who uses your money to blow people up. Most of you have never stuck your neck out at all to change things in this country. Most of you need to STFU and be happy bitcoins and bitcoin exchanges even exist at all.

Actually, what we need is to have a serious conversation without injecting absurd levels of FUD. And not everyone in this conversation's an armchair spectator raving about revolution and infowar from their basement. Your whole post - and I speak as a paranoid person myself - smacks of counterintel. It's off the charts on my bullshit meter. Maybe you're just insane, but it's much more likely you're a plant for the people you're ranting about, trying to make all bitcoiners sound like paranoid freaks.

And for the record, TradeHill's people are not "generals". Nor is this a "war". Bitcoin is a gnat's fart compared to Liberty Reserve. It's possible that non-conventional modes of pressure might have been applied to TradeHill here; I'd like to hear about it. What I don't accept is that an organization that's clearly done nothing wrong, who is in the right, would want to conceal from their users and colleagues the circumstances that led to the situation they find themselves in. Unless of course they're not allowed to talk about it.

All your FUD does is stifle meaningful conversation; in fact, stifling it and telling everyone to STFU seems to have been the point of your post. Why don't you STFU and stop ranting and speculating, at least long enough to dig for some real information? Or is real information antithetical to your little red-herring mission on this board?

Jared made the mistake of getting right in their faces here in San Francisco. He ran massive ads that Trade Hill was expanding and hiring engineers, data base people and CSR's. He boasted of investors and an SF Financial District Expansion Plan. He basically talked a lot of shit at the Bitcoin Meetups and ran too many employment ads on Craigslist, Monster and Careerbuilder. He literally drew the line in the sand with big boys and they pounced him. He worked hard to get their attention and he got it.

Now we're getting somewhere. But that and a nickel don't mean shit if they didn't break any laws. Sure, it might have been unwise to incorporate where they did, but a consumer fraud investigation and a gag order are two very different things.

[Desolator]

There's been some talk - pure speculation in our own legal circle - that TradeHill may actually be under a sealed grand jury indictment and unable to talk openly about their situation

Hmm, too bad they didn't throw me onto the document, lol.  This is my post copied over from the MTGox privacy policy post, which you should read because it puts this into context:

In case you haven't read outside sources of news about this situation, this is the true story.  You won't hear this from any of them so listen up.  There's something in America called the Banking Secrecy Act.  It requires anyone who "transfers money" in significant amounts to record user information.  It's to keep rich, unspeakably greedy assholes from hiding their money from taxes because...you know, they just can't live without that extra $100k so they have to hide it offshore.

Anyway, MTGox is Japanese but if you want to do business in America, you have to follow the BSA rules.  Nobody has forced them to follow the rules because it's a lot harder but that's exactly what happened to the California-based Tradehill.  The US gov investigated silently then told their main bank to lock their account pending an investigation of their BSA compliance then said they can't talk about it.

So if the US tells a Japanese bank that, they'll ignore it without threats or political pressure.  But to make it appear in the meantime that they're complying, they did that.  Or the US sent them directly some kind of "scary" message and they're scrambling to not cause problems.

Either way, I'm finding a new exchange.

[cryptoanarchist]

From my experience fighting the federal government, its not always that simple. First, bringing all their problems to the forum would be a horrible idea. Most of what the government is doing to monetary revolutionaries isn't overt legal action, but covert disruption. Tradehill probably isn't sure themselves who the infiltrators in their organization are.

Okay, you're saying they were infiltrated? Can you back up that claim, and/or why do you think that? Who at TH was working for a government? Because frankly this sounds childish, paranoid and stupid if you know how the US gov't works (excluding the secret part that's persecuting you, of course).

Most of you who complain work regular jobs and pay taxes to a corrupt government who uses your money to blow people up. Most of you have never stuck your neck out at all to change things in this country. Most of you need to STFU and be happy bitcoins and bitcoin exchanges even exist at all.

Actually, what we need is to have a serious conversation without injecting absurd levels of FUD. And not everyone in this conversation's an armchair spectator raving about revolution and infowar from their basement. Your whole post - and I speak as a paranoid person myself - smacks of counterintel. It's off the charts on my bullshit meter. Maybe you're just insane, but it's much more likely you're a plant for the people you're ranting about, trying to make all bitcoiners sound like paranoid freaks.

And for the record, TradeHill's people are not "generals". Nor is this a "war". Bitcoin is a gnat's fart compared to Liberty Reserve. It's possible that non-conventional modes of pressure might have been applied to TradeHill here; I'd like to hear about it. What I don't accept is that an organization that's clearly done nothing wrong, who is in the right, would want to conceal from their users and colleagues the circumstances that led to the situation they find themselves in. Unless of course they're not allowed to talk about it.

All your FUD does is stifle meaningful conversation; in fact, stifling it and telling everyone to STFU seems to have been the point of your post. Why don't you STFU and stop ranting and speculating, at least long enough to dig for some real information? Or is real information antithetical to your little red-herring mission on this board?

I don't need to STFU at all. Unlike you, I'm not an "armchair spectator raving about revolution and infowar from their basement." I've done a LOT more than most people to change the monetary system. Ever heard of Liberty Dollar? Yeah, I was an RCO which means I was putting myself in the fire before bitcoin was even heard of. I also ran the Ron Paul campaign where I live and was pretty aggressive against the local GOP. So yes, I have experience dealing with Federal agents.

Furthermore, you sound suspicious yourself when you attack me for pointing out the obvious. First you say I'm an "armchair spectator raving about revolution and infowar from their basement", but then I'm "counterintel". Which one is it ssaCEO? You are saying I might be a Fed, but you are saying that I'm a dork in my mom's basement for thinking the Feds may have gone after Tradehill? Or are you saying that Feds indeed are dorks in their mom's basement? Can you clarify?

[cypherdoc]

From my experience fighting the federal government, its not always that simple. First, bringing all their problems to the forum would be a horrible idea. Most of what the government is doing to monetary revolutionaries isn't overt legal action, but covert disruption. Tradehill probably isn't sure themselves who the infiltrators in their organization are.

Okay, you're saying they were infiltrated? Can you back up that claim, and/or why do you think that? Who at TH was working for a government? Because frankly this sounds childish, paranoid and stupid if you know how the US gov't works (excluding the secret part that's persecuting you, of course).

Most of you who complain work regular jobs and pay taxes to a corrupt government who uses your money to blow people up. Most of you have never stuck your neck out at all to change things in this country. Most of you need to STFU and be happy bitcoins and bitcoin exchanges even exist at all.

Actually, what we need is to have a serious conversation without injecting absurd levels of FUD. And not everyone in this conversation's an armchair spectator raving about revolution and infowar from their basement. Your whole post - and I speak as a paranoid person myself - smacks of counterintel. It's off the charts on my bullshit meter. Maybe you're just insane, but it's much more likely you're a plant for the people you're ranting about, trying to make all bitcoiners sound like paranoid freaks.

And for the record, TradeHill's people are not "generals". Nor is this a "war". Bitcoin is a gnat's fart compared to Liberty Reserve. It's possible that non-conventional modes of pressure might have been applied to TradeHill here; I'd like to hear about it. What I don't accept is that an organization that's clearly done nothing wrong, who is in the right, would want to conceal from their users and colleagues the circumstances that led to the situation they find themselves in. Unless of course they're not allowed to talk about it.

All your FUD does is stifle meaningful conversation; in fact, stifling it and telling everyone to STFU seems to have been the point of your post. Why don't you STFU and stop ranting and speculating, at least long enough to dig for some real information? Or is real information antithetical to your little red-herring mission on this board?

I don't need to STFU at all. Unlike you, I'm not an "armchair spectator raving about revolution and infowar from their basement." I've done a LOT more than most people to change the monetary system. Ever heard of Liberty Dollar? Yeah, I was an RCO which means I was putting myself in the fire before bitcoin was even heard of. I also ran the Ron Paul campaign where I live and was pretty aggressive against the local GOP. So yes, I have experience dealing with Federal agents.

Furthermore, you sound suspicious yourself when you attack me for pointing out the obvious. First you say I'm an "armchair spectator raving about revolution and infowar from their basement", but then I'm "counterintel". Which one is it ssaCEO? You are saying I might be a Fed, but you are saying that I'm a dork in my mom's basement for thinking the Feds may have gone after Tradehill? Or are you saying that Feds indeed are dorks in their mom's basement? Can you clarify?

Dude, your problem is one of style.  IF you in fact were involved in those activities then i can see why they failed or are losing b/c you seriously lack polish.  and if i had to guess who you really are i'd have to guess you are truly down in your Mom's basement.

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

you on the otherhand are just spreading FUD, bragging about supposed accomplishments, and impeding the free flow of information which is the antithesis of what this project is all about.

so until Jered steps up and says something to the effect that he can't legally say anything more than what he has already, then yes, you should STFU.  if and when he does, then i'll be glad to STFU.

did it ever occur to your that this information might help Bitcoin supporters behave legitimately, professionally, and legally to set up businesses that gov'ts might not go after?  or, as your name suggests, is secrecy and anarchy the only means to achieve success?

[cryptoanarchist]

Dude, your problem is one of style.  IF you in fact were involved in those activities then i can see why they failed or are losing b/c you seriously lack polish.  and if i had to guess who you really are i'd have to guess you are truly down in your Mom's basement.

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

you on the otherhand are just spreading FUD, bragging about supposed accomplishments, and impeding the free flow of information which is the antithesis of what this project is all about.

so until Jered steps up and says something to the effect that he can't legally say anything more than what he has already, then yes, you should STFU.  if and when he does, then i'll be glad to STFU.

did it ever occur to your that this information might help Bitcoin supporters behave legitimately, professionally, and legally to set up businesses that gov'ts might not go after?  or, as your name suggests, is secrecy and anarchy the only means to achieve success?

Wow..what a load of bull. Got any other unfounded accusations, cypherdoc?

Please explain your attacks. I have to laugh at the way you go after me. My "style" is the problem? I'm not "polished"? Anyone with 2 brain cells can see that those are empty ad hominem attacks.

And isn't the whole "mom's basement" thing played out as a keyboard warrior line?

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

If you want to learn about this stuff, start your own exchange. Do your own bit to change the nation's monetary system.

[cypherdoc]

Dude, your problem is one of style.  IF you in fact were involved in those activities then i can see why they failed or are losing b/c you seriously lack polish.  and if i had to guess who you really are i'd have to guess you are truly down in your Mom's basement.

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

you on the otherhand are just spreading FUD, bragging about supposed accomplishments, and impeding the free flow of information which is the antithesis of what this project is all about.

so until Jered steps up and says something to the effect that he can't legally say anything more than what he has already, then yes, you should STFU.  if and when he does, then i'll be glad to STFU.

did it ever occur to your that this information might help Bitcoin supporters behave legitimately, professionally, and legally to set up businesses that gov'ts might not go after?  or, as your name suggests, is secrecy and anarchy the only means to achieve success?

Wow..what a load of bull. Got any other unfounded accusations, cypherdoc?

Please explain your attacks. I have to laugh at the way you go after me. My "style" is the problem? I'm not "polished"? Anyone with 2 brain cells can see that those are empty ad hominem attacks.

And isn't the whole "mom's basement" thing played out as a keyboard warrior line?

do you even realize what you said?

https://bitcointalk.org/index.php?topic=63749.msg755504#msg755504

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

If you want to learn about this stuff, start your own exchange. Do your own bit to change the nation's monetary system.

oh ok, so the only way we're ALLOWED to learn according to you is by repeating the same mistakes of the past w/o trying to learn from others experience.  that attitude says it all.  STFU.

[ssaCEO]

You are saying I might be a Fed, but you are saying that I'm a dork in my mom's basement for thinking the Feds may have gone after Tradehill? Or are you saying that Feds indeed are dorks in their mom's basement? Can you clarify?

I'm saying that your main point - that businesses should not share information with the public about legal action being taken against them - plays right into the government's hands. It strengthens the terror-inducing power of the big bad unknown forces, without answering any questions. You then framed that by saying these customers should STFU and stop asking, which is an insult to them and an attempt to shut down legitimate debate on the subject.

And AFAIK federal trolls impersonate people in a basements all the time, so I don't see a contradiction there. Doesn't matter, though - telling everyone who's asking serious questions to STFU is practically doing their job for them. The only way we're going to clear the corporate corruption in government is by shining a light on who's pulling the strings. That's the value of asking questions.

all we're trying to do here is get to the bottom of this so that the community and investors can understand and learn from the business dynamics behind what has happened.  then we could adjust and potentially save ourselves lots of headaches and money in setting up projects and we'd know better who we're dealing with.

+1

[cryptoanarchist]

I'm saying that your main point - that businesses should not share information with the public about legal action being taken against them - plays right into the government's hands.

That's not what I said. I didn't just say "businesses", I said businesses that challenge the nation's monetary system. My MAIN POINT was that it was silly to have the same type of expectations from a bitcoin exchange as other businesses. Your statement only goes to show how you are conflating such expectations.

It strengthens the terror-inducing power of the big bad unknown forces, without answering any questions. You then framed that by saying these customers should STFU and stop asking, which is an insult to them and an attempt to shut down legitimate debate on the subject.

And AFAIK federal trolls impersonate people in a basements all the time, so I don't see a contradiction there. Doesn't matter, though - telling everyone who's asking serious questions to STFU is practically doing their job for them. The only way we're going to clear the corporate corruption in government is by shining a light on who's pulling the strings. That's the value of asking questions.

More conjecture. I'm telling people to STFU for acting like they have some right to information that they don't have a right to. If you can claim damages from Tradehill, make your case, but other than that, yeah, STFU.

[becoin]

I'm telling people to STFU for acting like they have some right to information that they don't have a right to.

I don't see anything wrong if people act like they have some right to information. I don't see why you are so upset about that? In fact what I see is you're acting like anti-"cryptoanarchist"...

[cryptoanarchist]

I'm telling people to STFU for acting like they have some right to information that they don't have a right to.

I don't see anything wrong if people act like they have some right to information. I don't see why you are so upset about that? In fact what I see is you're acting like anti-"cryptoanarchist"...

Scroll back a bit. I was responding to them being overly upset at Jered. What they said wasn't nearly as polite as "STFU". I thought it was a bit over the top to say people were "kissing a loser's ass" and going after the guy like they did.

[cypherdoc]

I'm telling people to STFU for acting like they have some right to information that they don't have a right to.

I don't see anything wrong if people act like they have some right to information. I don't see why you are so upset about that? In fact what I see is you're acting like anti-"cryptoanarchist"...

Scroll back a bit. I was responding to them being overly upset at Jered. What they said wasn't nearly as polite as "STFU". I thought it was a bit over the top to say people were "kissing a loser's ass" and going after the guy like they did.

flaxceed was the only one who said anything like that.  the rest of us are just asking questions w/o criticism against Jered about what happened since it would help the community.  so quit flipping out and acting like you have some inside knowledge of whats happened to them with your FUD.

contrast what you're offering up vs. useful info like whats been given by BitcoinExpress.

[tvbcof]

All of you folk who want to know in detail the issues behind trying to run a Bitcoin exchange might consider starting one yourselves and finding out first hand. 

We are lucky that we found out what we did from Tradehill about the Dwolla fiasco.  Tradehill would have had to tell us something about why they dumped Dwolla, but we got a pretty good picture of things before they clammed up (particularly those who hit the Mountain View meetup.)  There are two reasons why it would be inadvisable for Tradehill to bare all, and I don't think that either are any particular secret.

1)  Unfortunately, the business being what it is, it burns bridges to share the dirty laundry with the general gaggle of plebs.

2)  The details and intricacies of the business are hard won 'trade secrets' in much the same way that the suppliers of a retailer are.  Assuming that the Tradehill guys intend to pursue endeavors in related fields going forward, the knowledge gained in running Tradehill gives them a well earned advantage.

I'm as curious as the next guy, but Jered et-al owe me nothing...as long as the check I got when I arrived home just now does not bounce

[tvbcof]

...
I'm as curious as the next guy, but Jered et-al owe me nothing...as long as the check I got when I arrived home just now does not bounce

Just for the record, the check didn't bounce.  Between USD and BTC, Tradehill returned around $2500 in value to me with no muss, no fuss, no bother.  Jered and co join ~weex as individual who I would tend to have confidence in in future business dealings.

[cryptoanarchist]

Got my balance back from Tradehill no problem. I'd do business with them again.   

[cbeast]

Any idea when the new site opens at Bitcoin.com?

[finway]

@bitcon - if it's submitted you should be fine. If you don't get it in a few days let us know.

@bitcool - that's somewhat the idea, we'll see what we can do while avoiding the banks. The exchange market monopoly needs to be broken up either by a decentralized system or more decent exchanges. That's not a shot at Gox and I doubt they would take it as such. It's just adhering to the principal of Bitcoin.

@keyur - Thanks, I appreciate it, I haven't seen you around as much recently and I hope things are going well. Stay in touch and let me know if you're in San Francisco anytime.

@badbear - Thanks, other than legal risks running it in to the ground isn't going to help anyone. Well said.

@finway - if you've got an account with us we added it as a withdrawal option. I've had a few people ask so I'll add a Bitcoin address as well.  Donation address: 13Lvy1CCHi7fYHHVarGvuXnSg3ZccvGmyg

[R-]

I am sorry to hear this Jered. I hope to see your new site up soon. I sent ya a coin.

[isnowblind]

Hi,
I am still waiting for my funds to be returned by Tradehill / Jered Kenna. About 6 months ago I sent an email to Tradehill, Jered responded, confirmed my account balance and requested a BTC address so he could send the funds. He said he would send out the funds but never did. I have sent multiple gentle 'reminder' emails to both his address and the info address but have never received a response.
Has anyone heard from him or received funds recently?
Thanks

[ixne]

Hi,
I am still waiting for my funds to be returned by Tradehill / Jered Kenna. About 6 months ago I sent an email to Tradehill, Jered responded, confirmed my account balance and requested a BTC address so he could send the funds. He said he would send out the funds but never did. I have sent multiple gentle 'reminder' emails to both his address and the info address but have never received a response.
Has anyone heard from him or received funds recently?
Thanks

I got the run-around whereby I was sent to different e-mail addresses, then finally no response.  Next step is the lawyers...

[isnowblind]

ixne: If you do pursue that option please contact me; I am starting to think your option might be necessary.

[szabolcsi.peter90]

Finally, is there anybody who didn't get his/her money/Bitcoin from the TradeHill?

[isnowblind]

Hi,

Yes there are many people left who were not given refunds. I am one such person and in contact with several others. Please private message me w/ your email and I will add you to the group forum.