What happened to Tradehill? - page 2.

Jered Kenna (TradeHill)

sr. member

Activity: 420

Merit: 250

Quote from: RaggedMonk on January 13, 2012, 04:41:36 PM

Tradehill, have you been able to withdraw you funds from your accounts that have been frozen?

If not, are you still solvent?

Yes and yes. They've been good about getting the funds back to us but they will only mail a check which takes time and more time to clear when we deposit it. This adds to the delay.

Duckfeet,

We'll get the funds to you. When we need to fund 3rd parties like Paxum or OKPAY we have to go through the traditional system which takes several business days. Until everyone starts accepting Bitcoin it's going to be this way. When the funds hit we'll get your transfer out asap.

Jered

duckfeet

member

Activity: 64

Merit: 10

I tried withdrawing my $1100 3 days ago to OKPAY. No movement, and no email answer either. I kind of figured this might happen eventually...feel like a total fool.

yochdog

legendary

Activity: 2044

Merit: 1000

Quote from: Littleshop on January 13, 2012, 11:47:08 PM

BTC withdrawals work. Just did a small one.

I have one for over 200 that seems to be permanently in process....

Littleshop

legendary

Activity: 1386

Merit: 1004

BTC withdrawals work. Just did a small one.

RaggedMonk

sr. member

Activity: 308

Merit: 250

Tradehill, have you been able to withdraw you funds from your accounts that have been frozen?

If not, are you still solvent?

yochdog

legendary

Activity: 2044

Merit: 1000

The silence from Tradehill is deafening.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

I'm serious about TradeHill looking into this option: http://banknd.nd.gov/

kokojie

legendary

Activity: 1806

Merit: 1003

Why would this create more problems? I personally have 5 bank accounts at 5 different banks, precisely for this reason. If one bank give me shit, I just remove the funds and deposit in another bank account.

Quote from: repentance on January 11, 2012, 03:01:17 AM

Quote from: ZodiacDragon84 on January 10, 2012, 10:03:01 PM

what if you used a number of banks, with a few accounts with each bank? if Bank 1 wants to be uppity and reject your business, you still have banks 3, 4, and 5

This would create more problems than it solves and attract unwelcome scrutiny.

bccasino

donator

Activity: 199

Merit: 100

YOU WIN . WE PAY

You can try to open an account in Switzerland, Liechtenstein or Luxembourg. They offer SEPA transfers from Europe and some even offer ACH transfers. Accounts can be opened in most currencies. Switzerland and Liechtenstein not being in the EU is surely a positive aspect.

repentance

hero member

Activity: 868

Merit: 1000

Quote from: ZodiacDragon84 on January 10, 2012, 10:03:01 PM

what if you used a number of banks, with a few accounts with each bank? if Bank 1 wants to be uppity and reject your business, you still have banks 3, 4, and 5

This would create more problems than it solves and attract unwelcome scrutiny.

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Quote from: Phinnaeus Gage on January 10, 2012, 09:38:51 PM

Not sure if this would help, but it's worth mentioning: http://banknd.nd.gov/

Quote

As the only state-owned bank in the nation we act as a funding resource in partnership with other financial institutions, economic development groups and guaranty agencies.

~Bruno~

http://chicago.craigslist.org/nwc/mat/2786719176.html

What are the chances?

ZodiacDragon84

sr. member

Activity: 266

Merit: 250

The king and the pawn go in the same box @ endgame

what if you used a number of banks, with a few accounts with each bank? if Bank 1 wants to be uppity and reject your business, you still have banks 3, 4, and 5

Phinnaeus Gage

legendary

Activity: 1918

Merit: 1570

Bitcoin: An Idea Worth Spending

Not sure if this would help, but it's worth mentioning: http://banknd.nd.gov/

Quote

As the only state-owned bank in the nation we act as a funding resource in partnership with other financial institutions, economic development groups and guaranty agencies.

~Bruno~

Jered Kenna (TradeHill)

sr. member

Activity: 420

Merit: 250

Quote from: spiccioli on January 10, 2012, 07:02:13 PM

Quote from: Jered Kenna (TradeHill) on January 10, 2012, 06:37:14 PM

Our bank closed the without prior warning and without giving a reason.
Thank you for your patience and we're working as fast as possible to resolve this.

Regards,
Jered

Jered,

what about having a bank account in some fiscal paradise, like the Channel Islands or Barbados?

Would a bank in such a place pose less restrictions to the flow of fiat money?

Best regards.

spiccioli

Yes and no. It would, but it would set off all kinds of flags. Not to mention it's not FDIC insured etc
We wouldn't be able to send cheap domestic wires like we can with a US account and I like being able to walk in to my bank and sit down with them. The offshore accounts that I've seen didn't have all the nifty stuff like an API and other advanced features but I'm sure they're out there.

Bottom line I've been told that it's not a smart idea by someone with a lot of experience in the business. Risk of bank problems would go down and US gov risk would go up.

I really like the idea and would love to bank outside the US if possible. There may be a compromise in the future involving a country that isn't shady yet isn't the US.

There is no silver bullet to this problem (possibly if you have millions and millions to throw at it). I welcome all suggestions on changes we should make to our banking setup. There might be someone who's thought of something I haven't.

Jered

spiccioli

legendary

Activity: 1378

Merit: 1003

nec sine labore

Quote from: Jered Kenna (TradeHill) on January 10, 2012, 06:37:14 PM

Our bank closed the without prior warning and without giving a reason.
Thank you for your patience and we're working as fast as possible to resolve this.

Regards,
Jered

Jered,

what about having a bank account in some fiscal paradise, like the Channel Islands or Barbados?

Would a bank in such a place pose less restrictions to the flow of fiat money?

Best regards.

spiccioli

Jered Kenna (TradeHill)

sr. member

Activity: 420

Merit: 250

Quote from: incraft3817 on January 10, 2012, 06:12:21 PM

I think I read somewhere that tradehill put a hold for wire transfers and ACH deposit and withdrawal. Does that means samething for bitcoins? I can't seem to withdraw or deposit bitcoins.

We placed a hold on wire / ach / checks and are working to get them back up as quickly as possible.
You can still deposit and withdraw BTC. You might have delays in a few other methods.

Our bank closed the without prior warning and without giving a reason.
Thank you for your patience and we're working as fast as possible to resolve this.

Regards,
Jered

incraft3817

member

Activity: 87

Merit: 10

I think I read somewhere that tradehill put a hold for wire transfers and ACH deposit and withdrawal. Does that means samething for bitcoins? I can't seem to withdraw or deposit bitcoins.

Topic: What happened to Tradehill? - page 2. (Read 4705 times)