Topic: TradeHill - Why we no longer accept Dwolla and an open letter to Ben Milne - page 9. (Read 37522 times)

Exactly why I'm asking.

They should've made that call to TradeHill as they are/were one of their biggest customers...  
WTF   Am I the only one to see the stupidity in this? Please tell me I'm not crazy...  

Guys, it could be that BitcoinEXpress already recommended Dwolla to some of those investors, and is now trying to minimize damage to Dwolla, and  his own recommendation.

But you only registered on the forum last month?


Check this guy's posting history. Laugh at his spelling and grammar. Notice almost all his posts have been a frantic attempt to get TradeHill to keep this scandal quiet.

I've been a TradeHill booster since the day they launched, and their transparency only increases my loyalty.

The more you talk the more convinced I am you are just a troll or have some personal interest on the issue.

So....did everyone else get a "customer service check-up" call from Dwolla just to make sure that they're happy with the service? I assume it's just coincidence that I get this call less than 24 hours after I posted the comment that's been screen-captured earlier in this thread on their Facebook page....

I'm sure if Dwolla's VCs are terribly intelligent, they're ignoring everything you say. After all, you're the one who's sitting there being either incredibly moronic, or intentionally disingenuous.

Let's simplify this.

Fraud occurred. Dwolla ended up not having enough money to actually cover all their customers' balances if they kept all the profit they wanted. They solved this problem by retroactively editing Tradehill's balance.

Fraud occurred. Tradehill ended up not having enough money to actually cover all their customers' balances if they kept all the profit they wanted. You insist that they declare they won't solve this problem by retroactively editing their customers' balances...

The fact that you're apparently perfectly fine with Dwolla doing it, but not with Tradehill doing it, is why I've been having a very enjoyable afternoon laughing at pretty much everything you're posting here.

It's worth noting, as well -- I don't even have an account on Tradehill. Or on Dwolla. And bluntly put? I wanted to get a Dwolla account because my roommate's home business has lost a pretty big amount in the last year due to fraud -- a type of fraud that, supposedly, Dwolla would have insulated us from. As far as I'm concerned, Tradehill did me a massive favor by disclosing what risks actually still exist. So if I end up deciding I need to go to an exchange to sell coins, Tradehill's got pretty damn good odds of getting some of my business now.

Now... This ^^ WAS a threat! LOL

I'm not sure what else he can do. Money is fungible. Exchanges keep their customer's money in a big pile. Dwolla took from that pile.

You mean like Dwolla did?

TradeHill is not the only Dwolla customer affected. TradeHill isn't even the only bitcoin exchange affected. This is an issue between Dwolla and their customer base.

It has to if for no other reason than that TradeHill had to at least temporarily stop accepting Dwolla. There are TradeHill and Dwolla mutual customers who relied on TradeHill to provide a service that they now cannot.

We're still waiting to hear Dwolla's answer to that question. The difference is, Dwolla promised not to pass it on.

Again, the Dwolla business model. "Our transactions are not reversible, except when they are."

We can cover 37k, it is a lot of money to suddenly go missing without warning but it's not something we can't handle.
We're not up a creek.

Thanks for the warning though.

Jered

BitcoinExpress is working for Dwolla...
But he will state he isn't...

Dwolla wants to cover things up... That's for sure...

Wow, that sounded an awful lot like a threat. So the typical business world would rather we all play in the dark and hide in the shadows instead of dealing openly and fairly? Did I get that right?

So, why are you trying to make matters worse by asking questions whose answers can hurt TradeHill so much?

Are Dwolla's VC's paying you for it? F*ckin' SockPuppet...

I cannot help but add my suggestion to that list: currencies/monetary systems.

and you're just looking to start a fight where the basis for one doesn't exist.



your 'yes or no' question has been answered with a yes.

the decision about eating the dough has been made - and no, nobody would let it stay there:  of course they'll go after dwolla if they need to.  but do you seriously believe TH is going to go into its user's accounts sometime in 2012, if dwolla doesn't pay up, and extract $50k?  grow up.

I don't believe I'm playing word games. We have an account with user balances in it. Dwolla went in and pulled $37,000 out of our user balances.  We've said that we want that back from Dwolla. If they don't return those funds then we will compensate our users out of our company funds. Users will be able to withdraw their funds from TradeHill.

Does this answer your question?

Jered

Thanks and as much as I would love to have "everyones eggs in our basket" I'll say it over and over. Don't do it. Diversify and minimize risk. This goes for exchanges, walllets, banks, credit cards and more.
I'm assuming their lawyers have told them to keep quiet because we still haven't received a response from Dwolla beyond "we'll look in to this".
I'm curious to hear this solution that makes "non-reversible reversible payments non-reversible" again. Or how we will know ahead of time if it's going to be reversed.

We're open to work with Dwolla in the future if they can get it straightened out and come clean.

Jered

Thanks for the reply Jered, but...

On a recent Wagner interview, CampBX (Keyur?) seemed to indicate that he is having detailed discussions with Dwolla about how to mitigate the fraud that you guys have uncovered.  And that the announcement of a solution was to be forthcoming.  The question of why the disproportionate level of attention and communications between Dwolla's customers is what I am interested in in this particular post.

In other news, I just added to my TH funds so I could be positioned more flexibly should any unpleasant and unexpected fallout come out of 8/2/2011.  That is to say, while all of my eggs are by no means in one basket, Tradehill's word to do right by their customers has some level of equivalence to my faith in Wells Fargo's ability to look after my assets.  You guys alone seem to have detected, quantified and communicated the damages and told us how you expect to handle situation.  That means a lot to me.

Thanks, that's essentially what I was about to say. This came out of our users balances so yes they were effected. We're covering them for now but Dwolla is responsible and we are going to get that back from them. Hopefully lawyers won't have to get involved in this. It will draw it out and most likely end up costing everyone involved more money.

Jered