Silk Road forums

Discussion => Security => Topic started by: Julio on February 13, 2012, 10:47 pm

Title: TradeHill shutting down
Post by: Julio on February 13, 2012, 10:47 pm
Citing increasing regulation they are suspending operations and returning funds.
Title: Re: TradeHill shutting down
Post by: SierraRS on February 13, 2012, 10:53 pm
I bet .5 bitcents that the pressure upon Paxum and now Tradehill is unlawful. Does the fuctard senators and three letter agencies are fighting SR and Bitcoins in this way? Or banks and Visa/MC are eradicating competition?
Title: Re: TradeHill shutting down
Post by: TalkingHead on February 13, 2012, 11:23 pm
This can be seen at tradehillblog.com

TradeHill suspending trading and returning client funds

Posted by jeredkenna in Uncategorized on February 13, 2012

::::: 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.
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 eat this loss instead of passing it on to our customers.
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
TradeHill

Please send all press inquires to:   press@tradehill.com
Title: Re: TradeHill shutting down
Post by: grecko on February 14, 2012, 03:26 am
This news seriously freaked me out. I felt like I was part of a damn miracle considering today was the day I made my first BTC purchase ever via TradeHill not even a couple hours before it went down. If I had skimped on my impulse decision to get some coins today than I don't know what other path I would have followed to get them. That being said, where can I go now with the small amount of change I have left to invest in another couple coins or two? TradeHill only allows users to withdraw to a select few options, non of which seem to easily allow an avenue towards some more coins. I suppose this will be an interesting next couple of days. I imagine there are plenty of TradeHill accounts out there with a remainder of usable cash waiting in limbo for something...

~Greck