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Do you have any facts on that? I'd love to hear stories and accounts of anything like that happening…

by levifig 14y ago

thinkcomp 14y ago
California Northern District Court, Case No. 3:12-cv-01082-MMC Tradehill, Inc. v. Dwolla, Inc. et al http://www.plainsite.org/flashlight/case.html?id=716058 http://www.plainsite.org/flashlight/case.html?id=716058
- jnbiche 14y ago
  Yeah, take a real close look at that case, and read about what Dwolla did to Tradehill. Read both sides, Dwolla's and Tradehills. Believe me, Dwolla doesn't come out looking too good. Dwolla rode Tradehill and Bitcoin to viability and prosperity, then turned around and destroyed Tradehill when they started getting some negative press about Bitcoin. It's too bad, because I was an avid Dwolla user and was impressed with their approach to technology. But this is my biased opinion as a Bitcoin user (and former Dwolla user). Please go read about it yourself. Perhaps others will come to a different conclusion.
- shtylman 14y ago
  Anyone that is thinking about using Dwolla needs to read about this incident and understand what happened. Dwolla was completely unable to understand or handle the fraud. In addition, they are in total denial that the only reason anyone cares about them is because MtGox (a bitcoin exchange) uses them and brings lots of volume to their platform. I run Bitfloor and was hit with similar fraud as Tradehill (on a much much smaller scale) and Dwolla was just as ignorant and dismissive of it. Fundamentally, they went into a business that they did not understand. I know this to be true because early on (even before any Tradehill incident) we emailed them to ask about ACH chargebacks and how they handle them. They claimed there were no chargebacks and this was everything I needed to know about their lack of understanding.
shtylman 14y ago
It personally happened to me. I had a Dwolla merchant account for a while and then it was hit with fraud. Dwolla took all the funds out of my account and provided no real way for me to try and get them back. They WILL NOT work with you to recover your funds, they will just take them to cover their ass. They have no incentive to recover them since they just pass the fraud and costs onto you.
shtylman 14y ago
I would also suggest you read: http://www.shtylman.com/archives/319 http://www.shtylman.com/archives/319 A while back I recapped what happend between myself and Dwolla and why they are not a useful service.

Do you have any facts on that? I'd love to hear stories and accounts of anything like that happening…

by levifig 14y ago

Do you have any facts on that? I'd love to hear stories and accounts of anything like that happening…

California Northern District Court, Case No. 3:12-cv-01082-MMC Tradehill, Inc. v. Dwolla, Inc. et al http://www.plainsite.org/flashlight/case.html?id=716058 http://www.plainsite.org/flashlight/case.html?id=716058

jnbiche 14y ago
Yeah, take a real close look at that case, and read about what Dwolla did to Tradehill. Read both sides, Dwolla's and Tradehills. Believe me, Dwolla doesn't come out looking too good. Dwolla rode Tradehill and Bitcoin to viability and prosperity, then turned around and destroyed Tradehill when they started getting some negative press about Bitcoin. It's too bad, because I was an avid Dwolla user and was impressed with their approach to technology. But this is my biased opinion as a Bitcoin user (and former Dwolla user). Please go read about it yourself. Perhaps others will come to a different conclusion.
shtylman 14y ago
Anyone that is thinking about using Dwolla needs to read about this incident and understand what happened. Dwolla was completely unable to understand or handle the fraud. In addition, they are in total denial that the only reason anyone cares about them is because MtGox (a bitcoin exchange) uses them and brings lots of volume to their platform. I run Bitfloor and was hit with similar fraud as Tradehill (on a much much smaller scale) and Dwolla was just as ignorant and dismissive of it. Fundamentally, they went into a business that they did not understand. I know this to be true because early on (even before any Tradehill incident) we emailed them to ask about ACH chargebacks and how they handle them. They claimed there were no chargebacks and this was everything I needed to know about their lack of understanding.

shtylman 14y ago

It personally happened to me. I had a Dwolla merchant account for a while and then it was hit with fraud. Dwolla took all the funds out of my account and provided no real way for me to try and get them back. They WILL NOT work with you to recover your funds, they will just take them to cover their ass. They have no incentive to recover them since they just pass the fraud and costs onto you.

shtylman 14y ago

I would also suggest you read: http://www.shtylman.com/archives/319 http://www.shtylman.com/archives/319 A while back I recapped what happend between myself and Dwolla and why they are not a useful service.