[LIVE] Withdraw Your TradeHill Balance Instantly- BitInstant

[Yankee (BitInstant)]

Is this money transfer process also possible with EUR?

I have 586 Euro in my TradeHill account, and also have an Euro acount in MtGox. How about transfering EUR?

Hmm, our system is only built for USD at the moment, but let me consult with Gareth and get back to you.

EDIT: When we launch the service, send me a PM. We may be able to do it manually for you.

[kneim]

Is this money transfer process also possible with EUR?

I have 586 Euro in my TradeHill account, and also have an Euro acount in MtGox. How about transfering EUR?

Hmm, our system is only built for USD at the moment, but let me consult with Gareth and get back to you.

EDIT: When we launch the service, send me a PM. We may be able to do it manually for you.

Thank you, I will do so.

[Dinkytoyz]

Hi,

is there some update on when it will be done?

We're ready to go! Just waiting for the TradeHill guys so we can finish up testing, but they dont work on weekends.

Do they work during the week though? Also, I would like to be notified

[Yuri.]

Within 48 hours on Feb 13rd.
Isn't this taking too long?

[Yankee (BitInstant)]

Within 48 hours on Feb 13rd.
Isn't this taking too long?

Your right, its taking way longer then expected. This is why I posted an update a few days after.

I should make another Update now

UPDATE:

We've successfully tested the system and everything is working nicely. It took a few days for us to act as middlemen between the exchanges. Since they are spread are the globe its hard to get everyone on at the same time to negotiate rates, fees and to test the system with everyone.

TradeHill has decided to manually verify all transfers, so we had to delete 30% of the code and redo it for a manual check halfway thru. Essentially, TradeHill will be verifying all transfers out for AML and KYC compliance. When you make the request it'll be 6-12 hours before TH can approved it. Besides for that process, everything is automated!

As of now (4pm EST) we're looking to launch this sometime around midnight tonight, as soon as the good folks over at MtGox, CryptoXChange, Bitcoinica, and VirWox are ready to rock and roll.

I have to give super praise to my partner Gareth for figuring out how to build a custom withdrawal method in a matter of days, building upon the systems of 4 different exchanges and then having to delete 30% of his code at the last minute due to *someones* mind change aint an easy thing to do.

I'll PM everyone in this thread once its launched, and update the thread

Charlie

[Yuri.]

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

[Yankee (BitInstant)]

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

[Portnoy]

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

I just lost all respect for them...  If tradehill ever comes back I won't be doing business with them nor will I with bitcoin.com!  

"The smallest allowable withdraw amount is currently 50.00 USD"   

[Krakonos]

Thanks! My transfer is marked "completed" on TH side in about 20 minutes from requesting, unfortunately my moneys is still in Memphis and I have not received an confirmation email. I hope they'll appear in my CXC account shortly.

[the joint]

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

I just lost all respect for them...  If tradehill ever comes back I won't be doing business with them nor will I with bitcoin.com!  

"The smallest allowable withdraw amount is currently 50.00 USD"   

Something sounds extremely illegal about this.

So, if you had less than $50 in your TradeHill account they are essentially telling you "too bad, we're keeping it"?

Whoa dude...

[Yankee (BitInstant)]

Thanks! My transfer is marked "completed" on TH side in about 20 minutes from requesting, unfortunately my moneys is still in Memphis and I have not received an confirmation email. I hope they'll appear in my CXC account shortly.

Awesome! That means TradeHill is going thru the AML process and they have completed it. We now have to run thru the batch and start processing each order manually. Please give us 6-12 hours to do this, we will do our best faster. As you can imagine when we turned this on we got a huge amount of requests!

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

I just lost all respect for them...  If tradehill ever comes back I won't be doing business with them nor will I with bitcoin.com!  

"The smallest allowable withdraw amount is currently 50.00 USD"   

Something sounds extremely illegal about this.

So, if you had less than $50 in your TradeHill account they are essentially telling you "too bad, we're keeping it"?

Whoa dude...

Actually no. This requires ALOT of work on TradeHill's end as they have to manually verify orders, it just isnt worth it for less then $50.00 for them.

You still have the check/wire option though!

[Yuri.]

Thanks! My transfer is marked "completed" on TH side in about 20 minutes from requesting, unfortunately my moneys is still in Memphis and I have not received an confirmation email. I hope they'll appear in my CXC account shortly.

Awesome! That means TradeHill is going thru the AML process and they have completed it. We now have to run thru the batch and start processing each order manually. Please give us 6-12 hours to do this, we will do our best faster. As you can imagine when we turned this on we got a huge amount of requests!

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

I just lost all respect for them...  If tradehill ever comes back I won't be doing business with them nor will I with bitcoin.com!  

"The smallest allowable withdraw amount is currently 50.00 USD"   

Something sounds extremely illegal about this.

So, if you had less than $50 in your TradeHill account they are essentially telling you "too bad, we're keeping it"?

Whoa dude...

Actually no. This requires ALOT of work on TradeHill's end as they have to manually verify orders, it just isnt worth it for less then $50.00 for them.

You still have the check/wire option though!

Didn't you say it was their decision to make the verification manual? I don't see why it's us that have to carry this burden and pay its price, paying a high fee, wait for a somewhat lengthy process and be unable to use it for less than $50.
On the very least it should be free and for any amount.

PS: I know this is not BitInstant fault, I'm just hoping tradehill see this message.

[Yankee (BitInstant)]

Thanks! My transfer is marked "completed" on TH side in about 20 minutes from requesting, unfortunately my moneys is still in Memphis and I have not received an confirmation email. I hope they'll appear in my CXC account shortly.

Awesome! That means TradeHill is going thru the AML process and they have completed it. We now have to run thru the batch and start processing each order manually. Please give us 6-12 hours to do this, we will do our best faster. As you can imagine when we turned this on we got a huge amount of requests!

I can it now on tradehill, but the fees look a bit steep, why would CryptoXChange give a $5 credit while charging $10 in fees? It blows my mind.
Any hopes that it will be lowered?

I was about to make the announcement, will do it now.

No, the fee's were set by TradeHill, not us. I'm sorry.

I just lost all respect for them...  If tradehill ever comes back I won't be doing business with them nor will I with bitcoin.com!  

"The smallest allowable withdraw amount is currently 50.00 USD"   

Something sounds extremely illegal about this.

So, if you had less than $50 in your TradeHill account they are essentially telling you "too bad, we're keeping it"?

Whoa dude...

Actually no. This requires ALOT of work on TradeHill's end as they have to manually verify orders, it just isnt worth it for less then $50.00 for them.

You still have the check/wire option though!

Didn't you say it was their decision to make the verification manual? I don't see why it's us that have to carry this burden and pay its price, paying a high fee, wait for a somewhat lengthy process and be unable to use it for less than $50.
On the very least it should be free and for any amount.

PS: I know this is not BitInstant fault, I'm just hoping tradehill see this message.

Yuri, I understand your concerns however there are a few facts please understand, 

Its not a lengthly process, all orders will be approved within 6-12 hours. If its longer, we will contact the customer individually.

I know its easy to say 'free' but there's alot of work going on here, and TradeHill has the burden to do alot of it. There are books to be balanced on both sides.  There are also other exchanges involved, all who have costs.

I know its frustrating, trust me, we've been working hard the past two weeks and TradeHill has gone above and beyond. Please don't be angry with them.

Tonight, we will speak to all the people involved and see if we can minimize if not, lift the limits. However, the fee has to stay as is.

Thanks for your continued support and patronage.

Charlie

[Portnoy]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

 

[Yankee (BitInstant)]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

No fear! We're going to make no minimum!

I'll update the thread in a bit.

[Portnoy]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

No fear! We're going to make no minimum!

I'll update the thread in a bit.

Thank you for that.  But that $10 fee is still going to wipe out, or make it not worth it, for the smallest fry. 

 

[Yankee (BitInstant)]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

No fear! We're going to make no minimum!

I'll update the thread in a bit.

Thank you for that.  But that $10 fee is still going to wipe out, or make it not worth it, for the smallest fry. 

 

I'm sorry, we're doing the best we can here. Take a look above, I explained the reasoning behind the fee but again, the way was not decided on by me.

[Yuri.]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

 

Yankee, since you are in direct contact to tradehill, could you suggest they allow USD to be transfered from one account to another?
This would be really be helpful in the case of people like on the quote above

[Yankee (BitInstant)]

Ya, the small guy get screwed again...  why did I think things would be different in the bitcoin
world? 

Mostly I feel bad for the family and friends I talked into using tradehill... all of whom as well had
less than $50 there.

A check is not an option if I/we don't have a US address or bank account.

Ya, but there is still the wire option for only $45!    

This isn't good for Bitcoin to have a bunch of newbies losing all the money they deposited there...
I will be buying all the btc they were able to withdraw so they can get out and forget about it... 

 

Yankee, since you are in direct contact to tradehill, could you suggest they allow USD to be transfered from one account to another?
This would be really be helpful in the case of people like on the quote above

Sure, thats a good idea and I'll ask. I think that may fall under the AML issues though

[the joint]

I think the most fair way is something like 2-5% across the board with no minimum limit.  This way, the small fries can still take out their money.  God forbid people with a lot of cash actually give some of it up (to make it worthwhile for TradeHill).

Thus, $1000 account gives up $20-$50, approximately that of a wire fee.

A $2 account gives up 4-10 cents.

I used to be a big fan of TradeHill and I talked them up all over this forum.  I always gave them the benefit of the doubt in virtually every circumstance.  But honestly, this $10 flat rate decision is borderline one of the stupidest ideas I've heard on this forum.  I'm not an idiot and it's incredibly easy to see why this is unfair.  TradeHill took a business risk, and unfortunately for them, the banks made it difficult for them.

But, instead of saying "yep, we made a bad business decision and/or we got unlucky,"  they are passing off the trouble to the consumer so that it softens the blow they take.

That's completely unacceptable.  It has nothing to do with how hard they're working.  That's what businesses do -- they fucking work.  But, if things don't pan out the way they planned, they need to bite the bullet, not pass the bullet to us.

Maybe they should sell the Bitcoin.com domain to soften the blow, how about that one?