Press Release - TradeHill, Inc. Files Suit Against Dwolla, Inc.

[Boussac]

You can voice your opinions at Dwolla's Facebook page:

https://www.facebook.com/#!/dwolla

I will voice it and continue NOT using Dwolla nor MtGox which is using Dwolla.
Good luck to TH against Dwolla: we support your cause.

[Matthew N. Wright]

Sorry to hear about the lawsuit Jered.

I understand arming yourself with as many complaints as possible but don't think there is any legal reason why they would be held responsible for a private agreement related to bitcoin.com.

As for the reversed charges, that's something you should sue them to hell and back for. Companies that tout themselves are infallible shouldn't be allowed to bankrupt their customers when they actually do fail.

[jwzguy]

Best of luck guys. Besides damages and the money they stole from you, Dwolla should get jail time for this.

[Matthew N. Wright]

Best of luck guys. Besides damages and the money they stole from you, Dwolla should get jail time for this.

They would have to have been proven to have intent to defraud their merchants, which I doubt they had.

This seems more like a case of them just not doing what they promised they'd do, and doing what they promised they wouldn't.

Jial? Seriously?

[jwzguy]

Best of luck guys. Besides damages and the money they stole from you, Dwolla should get jail time for this.

They would have to have been proven to have intent to defraud their merchants, which I doubt they had.

This seems more like a case of them just not doing what they promised they'd do, and doing what they promised they wouldn't.

Jial? Seriously?

Editing old account statements to erase reversed credits, in order to hide when they removed funds from the account? Um hell yes, jail. That's fraud.

[kiba]

We wanted to keep operating and hold on to the domain but it just wasn't possible. Ideally it wouldn't have mattered that we had that obligation but things changed when we lost the funds. We weren't able to innovate and had to cut all the features / employees we had planned. I've personally blown all my savings to stay afloat.  

Does that mean you're going to provide services as planned in bitcoin.com? If not, what will happen?

Anyway, wish you best of luck and the most expeditious lawsuit as possible.

[Matthew N. Wright]

Best of luck guys. Besides damages and the money they stole from you, Dwolla should get jail time for this.

They would have to have been proven to have intent to defraud their merchants, which I doubt they had.

This seems more like a case of them just not doing what they promised they'd do, and doing what they promised they wouldn't.

Jial? Seriously?

Editing old account statements to erase reversed credits, in order to hide when they removed funds from the account? Um hell yes, jail. That's fraud.

That's hearsay. You'd have to prove that's why they were erased. On that note-- what proof do you have that they erased records?

Does Tradehill have a list of records that doesn't match Dwolla's? If so, how do you know Tradehill didn't forge them?

(For the record, I hope justice is served, but don't be so quick to pick sides and pretend that anything against Bitcoin businesses is worthy of jailtime.)

[jwzguy]

Best of luck guys. Besides damages and the money they stole from you, Dwolla should get jail time for this.

They would have to have been proven to have intent to defraud their merchants, which I doubt they had.

This seems more like a case of them just not doing what they promised they'd do, and doing what they promised they wouldn't.

Jial? Seriously?

Editing old account statements to erase reversed credits, in order to hide when they removed funds from the account? Um hell yes, jail. That's fraud.

That's hearsay. You'd have to prove that's why they were erased. On that note-- what proof do you have that they erased records?

Does Tradehill have a list of records that doesn't match Dwolla's? If so, how do you know Tradehill didn't forge them?

(For the record, I hope justice is served, but don't be so quick to pick sides and pretend that anything against Bitcoin businesses is worthy of jailtime.)

Either you're incredibly ignorant of this situation, or you're trolling again. Either way, you look like an ass.

[Matthew N. Wright]

Either you're incredibly ignorant of this situation, or you're trolling again. Either way, you look like an ass.

I just heard about it 2 minutes ago, both never exclude the latter.

[hazek]

I wish you a favorable resolve and your money returned + damages repayed.

[RaggedMonk]

This is really a civil matter.  Jail time sounds like the ridiculous demand of a lynch mob.  Frankly, I think $2M is pretty optimistic though, on ~100k of direct damages. Hope it works out well for them.

And for the record, I think he looks like a horse.

[Matthew N. Wright]

This is really a civil matter.  Jail time sounds like the ridiculous demand of a lynch mob.  Frankly, I think $2M is pretty optimistic though, on ~100k of direct damages. Hope it works out well for them.

And for the record, I think he looks like a horse.

1+

[jwzguy]

This is really a civil matter.  Jail time sounds like the ridiculous demand of a lynch mob.  Frankly, I think $2M is pretty optimistic though, on ~100k of direct damages. Hope it works out well for them.

And for the record, I think he looks like a horse.

If a financial institution you trusted did the same thing to you, I'm betting it'd sound a lot less "ridiculous." But I didn't make any demands, I was just showing my support. This was a despicable act.

[jimbobway]

More Dwolla arrogance:

Longtime angel investor Steve Smith said the lawsuit filed against Dwolla could be “sour grapes” and that the timing of the lawsuit after months of trying to come to an agreement is questionable. Dwolla recently raised $5 million for its operations from venture capital firms across the country.
 
“This is the practical reality of the current business environment we live in,” Smith said. “Lawsuits are just becoming an increasing part of the business community.”

http://blogs.desmoinesregister.com/dmr/index.php/2012/03/06/bitcoin-exchanges-files-lawsuit-against-dwolla/

[Matthew N. Wright]

This is really a civil matter.  Jail time sounds like the ridiculous demand of a lynch mob.  Frankly, I think $2M is pretty optimistic though, on ~100k of direct damages. Hope it works out well for them.

And for the record, I think he looks like a horse.

If a financial institution you trusted did the same thing to you, I'm betting it'd sound a lot less "ridiculous." But I didn't make any demands, I was just showing my support. This was a despicable act.

Let's all support TradeHill for realistic expectations and realistic settlements, and open to the possibility they might actually be in the wrong, not Dwolla.

Anything else is blind fanboyism and we don't have room for that in a cryptocurrency already considered a scam and ponzi by most of the nerd world.

Let's show our intelligence and look at evidence. Jered hasn't provided any to us because his lawyer doesn't want him to at this point.

e.g. There is nothing to support.

[jwzguy]

This is really a civil matter.  Jail time sounds like the ridiculous demand of a lynch mob.  Frankly, I think $2M is pretty optimistic though, on ~100k of direct damages. Hope it works out well for them.

And for the record, I think he looks like a horse.

If a financial institution you trusted did the same thing to you, I'm betting it'd sound a lot less "ridiculous." But I didn't make any demands, I was just showing my support. This was a despicable act.

Let's all support TradeHill for realistic expectations and realistic settlements, and open to the possibility they might actually be in the wrong, not Dwolla.

Anything else is blind fanboyism and we don't have room for that in a cryptocurrency already considered a scam and ponzi by most of the nerd world.

Let's show our intelligence and look at evidence. Jered hasn't provided any to us because his lawyer doesn't want him to at this point.

e.g. There is nothing to support.

How can you call anyone else blind when you admit you're completely ignorant? Supposing that Tradehill engineered their own downfall in order to take Dwolla to court without any evidence is the silliest thing I've ever heard. Some of us saw the interviews, the press releases, and had conversations with Tradehill as this was happening. Calling those people "blind" isn't showing your intelligence.

[Matthew N. Wright]

How can you call anyone else blind when you admit you're completely ignorant?

Pretty easily actually. I just did!

Supposing that Tradehill engineered their own downfall in order to take Dwolla to court

Sorry, didn't read because it had nothing to do with what I was talking about and you're just spouting conspiracy theories as a defense.

Since you didn't get my point, I'll reiterate:

Don't trust people or companies just because they claim things. If the company themselves are not willing to share the documents that they claim prove something, then hold off on the fanboying until you know for sure.

How is that not simply common sense?

I don't have a dog in the fight. If Dwolla losses the suit because a judge finds them guilty of fraud, I'll say "Good job Tradehill!" and if Dwolla wins because TradeHill had no evidence and just couldn't deal with losing money I'll say "Good job Dwolla!".

This community is thick sometimes. We're not talking about supporting a friend, we're talking about staking reputations on something we have no evidence for.

You think I'm ignorant for not wanting to do that? Wow.

Editing old account statements to erase reversed credits

Where are the documents that have had the transactions removed?

[jwzguy]

How can you call anyone else blind when you admit you're completely ignorant?

Pretty easily actually. I just did!

Supposing that Tradehill engineered their own downfall in order to take Dwolla to court

Sorry, didn't read because it had nothing to do with what I was talking about and you're just spouting conspiracy theories as a defense.

Since you didn't get my point, I'll reiterate:

Don't trust people or companies just because they claim things. If the company themselves are not willing to share the documents that they claim prove something, then hold off on the fanboying until you know for sure.

How is that not simply common sense?

I don't have a dog in the fight. If Dwolla losses the suit because a judge finds them guilty of fraud, I'll say "Good job Tradehill!" and if Dwolla wins because TradeHill had no evidence and just couldn't deal with losing money I'll say "Good job Dwolla!".

This community is thick sometimes. We're not talking about supporting a friend, we're talking about staking reputations on something we have no evidence for.

You think I'm ignorant for not wanting to do that? Wow.

Where are the documents that have had the transactions removed?

I'm glad you're proud of how easily you make foolish statements.

The reason I think you're ignorant because you SAID you were. This happened last year. Plenty of people know the details, you've admitted you're not one of them. So instead of arguing about what MY opinion should be, maybe you should go do your homework.  I based mine on all the information that anyone not directly involved with this lawsuit can reasonably expect to get, and I'm fairly confident that my conclusion is correct.

[nebulus]

Here we go, publicity! Hope to see an article on this in ArsTechnica....

[Matthew N. Wright]

I based mine on all the information that anyone not directly involved with this lawsuit can reasonably expect to get, and I'm fairly confident that my conclusion is correct.

So instead of arguing about what MY opinion should be, maybe you should go do your homework.

Fair enough. Any tips on finding the proof that Dwolla was erasing chargebacks to cover their asses?