Tradehill suspends trading (is one reason for the knife!)

[goxed]

http://www.betabeat.com/2012/02/13/bitcoin-exchange-tradehill-suspends-trading/

::::: 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 would also like to make it known that our relationship with Paxum has been great and hope to work with them in the future.

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.

Sincerely,

Jered Kenna
Chief Executive Officer

[Blind]

I don't think so, TH didn't have enough volume to affect market prices in any significant way, somewhere along 500-1000 / 24h.

[adamstgBit]

I don't think so, TH didn't have enough volume to affect market prices in any significant way, somewhere along 500-1000 / 24h.

ya but seeing news like that after the shitty weekend.. people panic 

[trogdorjw73]

I don't think so, TH didn't have enough volume to affect market prices in any significant way, somewhere along 500-1000 / 24h.

ya but seeing news like that after the shitty weekend.. people panic 

This is pretty major news, as outside of MtGox there's not a whole lot of other major exchanges. I think we might see <$4 per BTC in the near term.

[bitcon]

does this mean i'm going to be refunded cash value of my coins when i sold them, or are they going to refund me a bunch of worthless coins?

[miscreanity]

Jon Matonis Tweeted a document from 2009 by the Swiss bank Wegelin that perfectly explains the reasoning for the Paxum & TradeHill closures as well as many international banks' refusal to accept American citizens as clients.

Essentially, anything even touching US assets in any manner is considered by America to be legally liable for taxation purposes. This can mean that a Guyanese person buying stock in a Mongolian business that just happens to be listed on an exchange that performs transactions in the US could technically be liable for taxation by the American IRS. With its military might and apparent willingness to use that power, it would be foolish for small havens like Cook Islands or St. Kitts & Nevis to hold out under threat of invasion. All to maintain the hegemony of the US dollar?

The biggest bully in the global playground has upped the ante. Bitcoin may be forced underground before it returns to help shatter the destructive illusion of American dominance.

[GeniuSxBoY]

Ron Paul 2012

[Edward50]

It is just a matter of time before mt gox has problems. Surprised they are still able to use Dwolla.

[zby]

Soon US citizens will be able to buy bitcoins only on bitmarket.eu (it does not do the transfers).

[bitcon]

presidents make no difference so neither will Ron Paul. there's always someone in the shadows pulling their strings.  i thought obama would get something accomplished, yet everything is the same as if bush never left. what happened to his socialized health care reform? nothing. Another tool of the shadows - Hillary clinton condemned wikileaks and also ordered stealing of dna samples from UN beaurocrats.  the president is just a figurehead for the people who really run this circus called amerika.  i Definitely recommend watching "War, Lies and Videotape"  you can donwload it via torrents or the often replay it on "Current" channel on direcTV.

[Bigpiggy01]

Good riddance to bad rubbish  

They haven't been functioning properly as an international exchange since at least August last year and scammed a few of the people (mainly the bitcoinconsultancy group) they hired during their start up.

So them having finally fucked off is good news for bitcoin in general.

[GeniuSxBoY]

presidents make no difference so neither will Ron Paul. there's always someone in the shadows pulling their strings.  i thought obama would get something accomplished, yet everything is the same as if bush never left. what happened to his socialized health care reform? nothing. Another tool of the shadows - Hillary clinton condemned wikileaks and also ordered stealing of dna samples from UN beaurocrats.  the president is just a figurehead for the people who really run this circus called amerika.  i Definitely recommend watching "War, Lies and Videotape"  you can donwload it via torrents or the often replay it on "Current" channel on direcTV.

I beg to differ. Ron Paul is our last hope. This is the first time in History that we have a movement called Occupy Wall Street.

Ron Paul + OWS equals something huge.... wait for it.

The elections are in November.

If Ron Paul doesn't win, doomsday will occur precisely on 12.21.2012.