Hi Ben-Abuya,

We were about to launch ILS but our partner got cold feet. We are still in search of an excellent Israel partner so feel free to PM me or send an email to info@tradehill.com with 'Partner - Israel' in the title.

We can take it from there.

Thanks,
Adam - Tradehill

It is now past 6pm EDT. I have no idea what I should do here. I needed the withdrawal asap. That is why I went for the same day. This has not beed 27 hours since I put the withdrawal through.

I ask.

What am I suppose to do?

Is it normal that BTC withdrawals from Tradehill take 24 hours (and still no money in sight here)? My funds are "reserved" in account, I get no email response to my inquiries, status is "In Process" for 24 hours now...

I guess that is the last time I added funds to TH, but I would still like to know how long BTC withdrawals are supposed to be? And when do I see my money. It takes about 20 minutes from MtGox, 1 hour max. Do you first mine the coins before sending them out?

You do know they have a contact email right?
Resolve it with them first.Then bitch on the forum.

We sent 41 wires out (thats not at all common) and the bank locked the wires down as a precautionary measure. I've spoken with them on the phone. Everything is fine and it should be lifted in a few minutes. I've submitted additional paperwork and Bitcoin is a new concept to these guys so it takes some time. We have been opening other accounts to prevent something like this from happening in the future. The wires are in the queue and it's on the bank to get it out. If something changes I'll update but it should be on it's way.

Jered

+1

Disbursing BTC is not supposed to be terribly difficult.  Trivial vs. other forms of currency in fact.  That's one of the reasons why I like Bitcoin.

When the market is in flux it is especially nice to be able to move rapidly.  So getting things bogged down in process is a genuine harm to some people.

In my case, the delay is not hurting me other than the risk of Tradehill's solvency I am absorbing.  I would like it if Tradehill would offer to pay interest (or whatever you want to call it) on BTC which are not dispersed according to published policy.

For my part, I would weigh the risk against the reward and make a decision about what I wanted to do.  I highly value honesty and transparency.  The more confidence in Tradehill I could gain in this way, the less risk I would feel that I am carrying, and the lower the 'interest' I would accept to lend Tradhill my liquidity.

This seems eminently fair to me.  Thoughts?

FTR: my BTC were released.  Took twice as long as advertised, but I got 'em.

I don't feel to bad about being whiny here given that TH squealed like a stuck pig when Dwolla didn't live up to their stated procedures (and rightly so.)

I would still be interested in follow-up on my idea of lending my BTC to an exchange...hopefully with a little bit more control on my side than in my recent experience.  I see an issue with it in that everyone would always pull their BTC from the exchange simply to collect the 'interest' under the scheme I've described.

Seems like most commodities markets gain some benefit by virtue of the property that most players have no interest in taking control of the commodity and would not know what to do with 20 truckloads of pork bellies if they did take possession.  Bitcoin is different.  I fully expect that Tradehill, CampBX, Ruxum, etc have taken this into account in their business plans.  Hope so at least.

I am attracted to Bitcoin because I have enough control of my liquidity to direct it toward where it will do *me* the most good.  Or if I am in a good mood, some other entity of my choosing (e.g., the community at large or Wikilieaks or whatever.)

Thanks, as always, for your clear answer.  I am actually delighted that you guys are taking the time to be extra careful at this point.  A note to the effect that my transfer request was pending extra review would have been appreciated, but I'll survive the trauma


I hope you find actuarials who outside-the-box thinkers.  I sense that Bitcoin has some unusual operators (e.g., gianormous) and some of them with unusual propensities (e.g., altruism and weird shit like that) compared to a lot of other markets.  And that some of these factors could strain the commonly accepted formulas.  I could be wrong...I often am.

Jered, it has now been 3 days since I requested the wire, and it still shows as "in process".  I am losing a lot of faith in Tradehill at the moment.  Can you provide any clarity on thie at all?  My e-mails have gone un-answered.