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Showing 10 of 10 results by hank
I don't think any money from MYBITCOIN has been sold off, but it's sudden disappearance has probably caused many people to lose confidence in other online wallets and services.
Silk Road Anon probably has something to do with it. It hit the news around June 1st (http://www.google.com/trends?q=%22silk+road%22&ctab=0&geo=all&date=ytd&sort=0). Give people 5 days or so to link their bank accounts to Dwolla and they're all buying on June 6th and Bitcoin reaches ~30USD because of the frenzy. The drop in value is the dealers selling back their BTC for USD over the following month.
Once people start to see the price dropping week to week they hold off buying more BTC to see how low the price can get.
Silk Road Anon probably has something to do with it. It hit the news around June 1st (http://www.google.com/trends?q=%22silk+road%22&ctab=0&geo=all&date=ytd&sort=0). Give people 5 days or so to link their bank accounts to Dwolla and they're all buying on June 6th and Bitcoin reaches ~30USD because of the frenzy. The drop in value is the dealers selling back their BTC for USD over the following month.
Once people start to see the price dropping week to week they hold off buying more BTC to see how low the price can get.
If all these bitcoins stored on MyBitcoin are in fact gone, does the price of bitcoins go up due to a lowered supply, or down due to a lack of confidence infused into the market?
I wondered myself if it was an attempt at market manipulation, but I think the only way it would drive the price up is if the market was in a rapid downturn - that is, confidence was already so low that only freezing accounts would stop people from selling off their coins.
Thanks so much for this write-up. I've got a handy usb-key wallet now. The program is a little laggy running off the drive but it works and that's what matters. As an added bonus you can add other arguments to the last line of the script which (imho) is much easier than monkeying around with a .conf file.
No, they haven't moved my coins since the since the site went down, but then again they didn't complete the withdrawal I requested from their system ~24 hours before the site went down. Unless we start getting reports that coins have been moved it would seem like negligence - not outright fraud/theft.
You may want to have a gander at these threads:
Mybitcoin.com, where did it go? - http://forum.bitcoin.org/index.php?topic=32984
mybitcoin down or just me - http://forum.bitcoin.org/index.php?topic=32900
You may want to have a gander at these threads:
Mybitcoin.com, where did it go? - http://forum.bitcoin.org/index.php?topic=32984
mybitcoin down or just me - http://forum.bitcoin.org/index.php?topic=32900
If you initiate a transaction, wait a few hours, and the transaction doesn't appear in block explorer, then the coins weren't sent. Placing a transaction in the public hash chain is essentially the definition of "sent" in this context.
Exactly, for Mt. Fun and I MyBitcoin is deducting funds from our accounts but not initiating a transaction to the recipient.
...Even stranger is that the incoming transfer from another mybitcoin user with which I funded the outgoing transfer is not present in block explorer either! It seems I never had the money I never received. 
...
...This particular detail is consistent with how it is advertised. MyBitcoin-to-MyBitcoin transfers are done on MyBitcoin's records and not on the block chain.
That's good to know, especially when searching block explorer - coins involved in a transfer might come from some other address.
Also having trouble with MyBitcoin...
Transfer was confirmed on their website, but no trace in block explorer. Even stranger is that the incoming transfer from another mybitcoin user with which I funded the outgoing transfer is not present in block explorer either! It seems I never had the money I never received.
Now the mybitcoin site is down and I'm wondering if I will ever see that currency again.
Maybe (hopefully) they took the site down after noticing these problems and the outstanding transfers will be initiated when (if) it comes back online.
This is a huge headache.
Transfer was confirmed on their website, but no trace in block explorer. Even stranger is that the incoming transfer from another mybitcoin user with which I funded the outgoing transfer is not present in block explorer either! It seems I never had the money I never received.
Now the mybitcoin site is down and I'm wondering if I will ever see that currency again.
Maybe (hopefully) they took the site down after noticing these problems and the outstanding transfers will be initiated when (if) it comes back online.
This is a huge headache.