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Author Topic: TradeHill - shutting down trading / deposits and returning all client funds  (Read 19907 times)
Boussac
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February 14, 2012, 11:09:02 PM
 #61

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.

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February 14, 2012, 11:26:20 PM
 #62

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 Smiley 

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.
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February 15, 2012, 04:28:38 AM
 #63

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

Also, DIAF.

Why the frell so many retards spell "ect" as an abbreviation of "Et Cetera"? "ETC", DAMMIT! http://en.wikipedia.org/wiki/Et_cetera

Host:/# rm -rf /var/forum/trolls
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February 15, 2012, 05:44:20 AM
 #64

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 Smiley

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

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February 15, 2012, 02:48:10 PM
 #65

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.
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February 15, 2012, 09:07:38 PM
 #66

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.


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Narydu
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February 16, 2012, 10:56:28 AM
 #67

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
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February 17, 2012, 04:32:21 PM
 #68

Christ Jered, am I ever going to get my LR funds back?
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February 17, 2012, 05:22:40 PM
 #69

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.

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cryptoanarchist
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February 17, 2012, 07:44:54 PM
 #70

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.
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February 17, 2012, 07:59:55 PM
 #71

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.
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February 17, 2012, 10:47:55 PM
 #72

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?

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February 17, 2012, 11:10:44 PM
 #73

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

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.

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February 17, 2012, 11:27:22 PM
 #74

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?

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February 18, 2012, 12:18:35 AM
 #75

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

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February 18, 2012, 12:55:59 AM
 #76

as I said before, communication from TH will ultimately determine whether rev2 will succeed or fail.
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February 18, 2012, 12:58:21 AM
 #77

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
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February 18, 2012, 03:31:31 AM
 #78

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.
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February 18, 2012, 03:39:20 AM
 #79

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.
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February 18, 2012, 03:57:58 AM
 #80

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.
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