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Title: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: ampirebus on August 07, 2011, 06:54:28 PM mybitcoin.com goes down last week... everyones bitcoins go missing
next week the market tanks as massive selloff and wall orders make price go from 15 to 11... same thing next weekend it seems so simplistically easy to me... shut down online wallet site after massing bitcoins... shut down transfers and sell all bitcoins high... causing panic selloff to make price dip more... then buy back all the bitcoins you just sold at the new low price like 8 and then he has made potentially millions of dollars and then bought back all the bticoins he originally "stole" from mybitcoin.com users (sell ~40,000 BTC @ between 15 and 11 $ Usd then by back those same 40,000 @ between $6-8 usd... insane no wonder those press releases come right after the huge selloffs and market collapses... could it be any more blatant what went on? unless its a coincidence that a massive ammount of BTC went missing, then the market tanks in a mass selloff with huge walls dissappearing... and then once the market hits a low tom williams suddenly has everyones bitcoins again go from 40k BTC to near 70k.. in a weeks time he probably had much more than 40,000k btc though that way he gets money, and bitcoins, and then all his www.mybitcoin.com users get their bitcoins back after being pissed off for half a month, what does he care if the value went down temporarily, especially if he manipulated it? for the record my "sell at 13 and buy at 8" could be substituted for any range of profitble swing prices, like imagine if he sold at 15 and bought at 6... nearly tripling money Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: SmokeAndMirrors on August 07, 2011, 07:02:06 PM As someone stated before:
1. Start a bitcoin business 2. Build rep 3. Disable all transactions 4. Claim you were hacked and walk away with the money 5. Buy some strippers and cocaine Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: bitlotto on August 07, 2011, 07:03:41 PM If someone was planning on stealing it, it would be better to slowly sell them while the site was still running. You could do it until someone was taking out more than was left in the whole site. Then close up shop, announce theft, and the price drops. Using all the cash you made before the news, buy back at lower price.
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: ampirebus on August 07, 2011, 07:04:56 PM As someone stated before: 1. Start a bitcoin business 2. Build rep 3. Disable all transactions 4. Claim you were hacked and walk away with the money 5. Buy some strippers and cocaine the thing is, he didnt even have to walk away,... if you hold a giant amount of BTC like that you can just temporarily crash the market, and get back all the original bitcoins you sold and have tons of money left over... or be extra greedy and just get a ton more bitcoins. the whole thing seems so blatantly easy to do (on his part or anyone else who could potentially hold a majority of the bitcoins) that way its not "stealing" because he has the chance to give all the original BTC back while still making bank all by making users wait a week or 2 weeks or 3 weeks. if the site was really hacked it would have been immediately brought to everyones attention. at this point i think hes trying to cook the books and doctor log files or whatever. but imagine if everyone does get all their bitcoins back from him who file claims... if that is the case I think this is exactly what he did or maybe het got scared about Bruce Wagner & the FBI coming to his door, and he was going to steal it all and walk away but decided "oh ill just make half as much money this way im still rich! time to make up a story" Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: FlipPro on August 07, 2011, 07:46:06 PM As someone stated before: 1. Start a bitcoin business 2. Build rep 3. Disable all transactions 4. Claim you were hacked and walk away with the money 5. Buy some strippers and cocaine the thing is, he didnt even have to walk away,... if you hold a giant amount of BTC like that you can just temporarily crash the market, and get back all the original bitcoins you sold and have tons of money left over... or be extra greedy and just get a ton more bitcoins. the whole thing seems so blatantly easy to do (on his part or anyone else who could potentially hold a majority of the bitcoins) that way its not "stealing" because he has the chance to give all the original BTC back while still making bank all by making users wait a week or 2 weeks or 3 weeks. if the site was really hacked it would have been immediately brought to everyones attention. at this point i think hes trying to cook the books and doctor log files or whatever. but imagine if everyone does get all their bitcoins back from him who file claims... if that is the case I think this is exactly what he did or maybe het got scared about Bruce Wagner & the FBI coming to his door, and he was going to steal it all and walk away but decided "oh ill just make half as much money this way im still rich! time to make up a story" Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: EricJ2190 on August 07, 2011, 07:57:05 PM He couldn't have sold the entire site's coins since I still have a few MyBitcoin addresses that have a positive balance.
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: malbritten on August 07, 2011, 08:00:38 PM If that's what he did then he is acting just like a real bank. Good for him. He wouldn't even have to do it with ALL the bitcoins, just a decent portion of them.
Not saying that I necessarily think that is what he did do, but the hypothesis is a smart one. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: ampirebus on August 07, 2011, 08:09:58 PM He couldn't have sold the entire site's coins since I still have a few MyBitcoin addresses that have a positive balance. do you not understand what im saying? he sold them and bought them back a few hours later... and then after the market crashed suddenly his site goes back online, right after the exact span of time in which the market went to its lowest points of the past 90 days not to mention it could just be a spoof on the site. he would have only needed to "steal" the coins for a few hours time before returning them Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: EricJ2190 on August 07, 2011, 08:16:57 PM He couldn't have sold the entire site's coins since I still have a few MyBitcoin addresses that have a positive balance. do you not understand what im saying? he sold them and bought them back a few hours later... and then after the market crashed suddenly his site goes back online, right after the exact span of time in which the market went to its lowest points of the past 90 days not to mention it could just be a spoof on the site. he would have only needed to "steal" the coins for a few hours time before returning them I should have been more clear. These addresses have no sends at all in the blockchain. One such address is 1MNTuapuSrQ5NHYK5HkFZR7E4tnE7yjVYn (http://blockexplorer.com/address/1MNTuapuSrQ5NHYK5HkFZR7E4tnE7yjVYn). Code: -----BEGIN PGP SIGNED MESSAGE----- Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Meatpile on August 07, 2011, 08:37:35 PM If you understood how an exchange works at all you would realize this is not possible.
As you sell from $15, the price falls and falls and falls. So basically you got $15 for 100coins, then $14 for 100 coins, then$13 for 100 coins and down and down and down to the bottom price you mention say $8 Now once you hit $8 you dont magicly have your total 40,000 coins to buy up at that price again, it works the same way back up. You pay $8 for 100 coins, you pay $9 for 100 coins, you pay$10 for 100 coins.... You dont gain much if anything at all. Your whole idea is predicating that 40,000 coins are awaiting to be sold at $8 while the price is still much higher than that. You do not understand the basic exchange system. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: ampirebus on August 07, 2011, 08:58:38 PM If you understood how an exchange works at all you would realize this is not possible. As you sell from $15, the price falls and falls and falls. So basically you got $15 for 100coins, then $14 for 100 coins, then$13 for 100 coins and down and down and down to the bottom price you mention say $8 Now once you hit $8 you dont magicly have your total 40,000 coins to buy up at that price again, it works the same way back up. You pay $8 for 100 coins, you pay $9 for 100 coins, you pay$10 for 100 coins.... You dont gain much if anything at all. Your whole idea is predicating that 40,000 coins are awaiting to be sold at $8 while the price is still much higher than that. You do not understand the basic exchange system. you literally thougt i meant sold them all at the exact same static price? I mentioned that doing this is what would cause the price to go down so far... my god. He used the entire range of fluctuation on the way down , either way you get the point and you still make massive returns. Just not the outright "sell everything at a static price and buy at a static price" 15.xx all the way down to 6.xx Sold high and bought low all the way down... can it get more basic than that? Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Tasty Champa on August 07, 2011, 09:46:54 PM HAHAHHA
basica laws of fluid dynamics states, when some shit does this at 14 some other shit at green is going to do this. therefore I can only speculate that 14 was indeed an inside job by not just the man himself but of the entire bitcoin community at large. however as history shows we can deduce that green will turn red and 4 will go soft, because there is an element of colorblindness in dogs. -alex jones, the early years. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Piper67 on August 07, 2011, 10:00:05 PM If you understood how an exchange works at all you would realize this is not possible. As you sell from $15, the price falls and falls and falls. So basically you got $15 for 100coins, then $14 for 100 coins, then$13 for 100 coins and down and down and down to the bottom price you mention say $8 Now once you hit $8 you dont magicly have your total 40,000 coins to buy up at that price again, it works the same way back up. You pay $8 for 100 coins, you pay $9 for 100 coins, you pay$10 for 100 coins.... You dont gain much if anything at all. Your whole idea is predicating that 40,000 coins are awaiting to be sold at $8 while the price is still much higher than that. You do not understand the basic exchange system. That's the case if you're the only one on that exchange, but if the price drop scares others into selling, you're making money. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Meatpile on August 07, 2011, 10:10:36 PM Piper if that is the case... and the only value of bitcoin is whatever you can scare people into... then it deserves to die really
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Drifter on August 07, 2011, 10:24:29 PM Piper if that is the case... and the only value of bitcoin is whatever you can scare people into... then it deserves to die really The only value of bitcoin is whatever you can convince people to pay FTFY Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Piper67 on August 07, 2011, 10:26:48 PM Piper if that is the case... and the only value of bitcoin is whatever you can scare people into... then it deserves to die really Oh, that's a different point entirely. All I'm saying is that if you have about 100,000 BTC and know what you're doing, you can make money by manipulating the market. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Tasty Champa on August 07, 2011, 10:52:37 PM Piper if that is the case... and the only value of bitcoin is whatever you can scare people into... then it deserves to die really Oh, that's a different point entirely. All I'm saying is that if you have about 100,000 BTC and know what you're doing, you can make money by manipulating the market. I'm glad you see this. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: timmey on August 07, 2011, 11:02:21 PM Wow, you don't even understand the basic workings of Bitcoin, yet you're whitelisted. I wonder how many accounts you want to sign up here, cowface1234 aka "cowface123" aka "the founder"https://bitcointalk.org/index.php?topic=34622.0 Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: BitcoinPorn on August 07, 2011, 11:46:59 PM Hey, I do 50/50 trolling and serious posts. I think your numbers are off. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: ampirebus on August 08, 2011, 12:02:24 AM He couldn't have sold the entire site's coins since I still have a few MyBitcoin addresses that have a positive balance. do you not understand what im saying? he sold them and bought them back a few hours later... and then after the market crashed suddenly his site goes back online, right after the exact span of time in which the market went to its lowest points of the past 90 days not to mention it could just be a spoof on the site. he would have only needed to "steal" the coins for a few hours time before returning them I should have been more clear. These addresses have no sends at all in the blockchain. One such address is 1MNTuapuSrQ5NHYK5HkFZR7E4tnE7yjVYn (http://blockexplorer.com/address/1MNTuapuSrQ5NHYK5HkFZR7E4tnE7yjVYn). Code: -----BEGIN PGP SIGNED MESSAGE----- got any block explorer data on accounts with large amounts in them? thats a small fish so I'd imagine if he just sold the 25,000 BTC bruce wagner had and a few other big accounts he wouldnt even bother touching the small fries Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: TiagoTiago on August 08, 2011, 12:05:24 AM I read he was an early adopter and known BTC millionaire, he could have just kept people from withdrawing the money from MBTC just in case the stunt he pulled with his own money went bad, so at least he would still be filthy rich.
(i have no proof for nor against what i described above, it's just an hypothetical scenario) Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: shotgun on August 08, 2011, 12:38:10 AM Good point. It would be hilarious if that's what ends up happening. Hilarious is the wrong word. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: EricJ2190 on August 08, 2011, 12:45:52 AM got any block explorer data on accounts with large amounts in them? thats a small fish so I'd imagine if he just sold the 25,000 BTC bruce wagner had and a few other big accounts he wouldnt even bother touching the small fries No, I only kept spare change in MyBitcoin. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: BTC_Junkie on August 08, 2011, 03:41:20 AM If half the BTC are missing, and everyone is reporting that it looks like coins weren't moved ... how is it happening?
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: payb.tc on August 08, 2011, 04:03:09 AM If half the BTC are missing, and everyone is reporting that it looks like coins weren't moved ... how is it happening? simple: everyone who's coins weren't moved are reporting it. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: hugolp on August 08, 2011, 04:35:02 AM causing panic selloff to make price dip more... then buy back all the bitcoins you just sold at the new low price like 8 and then he has made potentially millions of dollars and then bought back all the bticoins he originally "stole" from mybitcoin.com users The problem with this "theory" is: as you say when someone sells it puts downwards presure in the price of bitcoins, but you forget that when someones buys it puts upwards presure. So if he started buying again at $8 the price would not have stayed there nicely for him to buy all he wants at that price, it would have gone up big time. This scams dont work unless there is a massive panic selling from other people than the scammer. Otherwise the scammer will loose a lot of money. If the money from MyBitcoin.com is being sold at the exchanges, most probably whoever is dong it is trying to get out of bitcoins, not buying back. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: 7iain7 on August 08, 2011, 04:53:27 PM As someone stated before: 1. Start a bitcoin business 2. Build rep 3. Disable all transactions 4. Claim you were hacked and walk away with the money 5. Buy some strippers and cocaine definitely number 5 Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: nemo on August 08, 2011, 04:59:57 PM What happens to all the unclaimed coins?
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Phinnaeus Gage on August 08, 2011, 05:15:09 PM Piper if that is the case... and the only value of bitcoin is whatever you can scare people into... then it deserves to die really Oh, that's a different point entirely. All I'm saying is that if you have about 100,000 BTC and know what you're doing, you can make money by manipulating the market. I'm glad you see this. This exchange reminded And before anybody else post this video on what they believe Bitcoin is, I will: http://www.youtube.com/watch?v=rAaWvVFERVA&NR=1 Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: the founder on August 08, 2011, 05:15:32 PM Wow, you don't even understand the basic workings of Bitcoin, yet you're whitelisted. I wonder how many accounts you want to sign up here, cowface1234 aka "cowface123" aka "the founder"https://bitcointalk.org/index.php?topic=34622.0 aka "the founder" huh? leave me out of this. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Yuusha on August 08, 2011, 05:16:42 PM If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth.
Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Raoul Duke on August 08, 2011, 05:28:35 PM Wow, you don't even understand the basic workings of Bitcoin, yet you're whitelisted. I wonder how many accounts you want to sign up here, cowface1234 aka "cowface123" aka "the founder"https://bitcointalk.org/index.php?topic=34622.0 aka "the founder" huh? leave me out of this. Here: https://bitcointalk.org/index.php?topic=34622.0 LOL Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Phinnaeus Gage on August 08, 2011, 05:43:19 PM If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. Caution! Brain fart ahead. Now everybody has a chance to own a block of 50 BTC by solving one of these: http://www.youtube.com/watch?v=uIicxgqSH4g&feature=related With my idea, all six sides have the exact same image of the Bitcoin logo. You buy one and it's shipped to you, but not solved. Your task is to solve it and send it back, whereupon 50 BTC's (minus shipping cost) is entered into your wallet and another one is sent for you to solve. rubikcoin.com Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: shotgun on August 08, 2011, 06:43:06 PM If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. Caution! Brain fart ahead. Now everybody has a chance to own a block of 50 BTC by solving one of these: http://www.youtube.com/watch?v=uIicxgqSH4g&feature=related With my idea, all six sides have the exact same image of the Bitcoin logo. You buy one and it's shipped to you, but not solved. Your task is to solve it and send it back, whereupon 50 BTC's (minus shipping cost) is entered into your wallet and another one is sent for you to solve. rubikcoin.com This has nothing to do with mybitcoin or tom williams. go hawk your wares on your own thread. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: the founder on August 08, 2011, 07:55:54 PM Wow, you don't even understand the basic workings of Bitcoin, yet you're whitelisted. I wonder how many accounts you want to sign up here, cowface1234 aka "cowface123" aka "the founder"https://bitcointalk.org/index.php?topic=34622.0 aka "the founder" huh? leave me out of this. Here: https://bitcointalk.org/index.php?topic=34622.0 LOL LOL impersonation is the best flattery. Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Phinnaeus Gage on August 09, 2011, 05:32:58 PM If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. Caution! Brain fart ahead. Now everybody has a chance to own a block of 50 BTC by solving one of these: http://www.youtube.com/watch?v=uIicxgqSH4g&feature=related With my idea, all six sides have the exact same image of the Bitcoin logo. You buy one and it's shipped to you, but not solved. Your task is to solve it and send it back, whereupon 50 BTC's (minus shipping cost) is entered into your wallet and another one is sent for you to solve. rubikcoin.com This has nothing to do with mybitcoin or tom williams. go hawk your wares on your own thread. shotgun's comment has me stumped! My somewhat tongue-in-cheek comment (actually, one of my brain farts that I wanted to share with the community, then) was in reference to this: Quote If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. As far as hawking wares, rubikcoin.com is not a real site/company. Also, the YouTube link doesn't represent anything I'm even remotely attached to. Therefore, I'm hawking nothing. Please correct me if I'm wrong, shotgun. ty Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: shotgun on August 09, 2011, 08:30:59 PM If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. Caution! Brain fart ahead. Now everybody has a chance to own a block of 50 BTC by solving one of these: http://www.youtube.com/watch?v=uIicxgqSH4g&feature=related With my idea, all six sides have the exact same image of the Bitcoin logo. You buy one and it's shipped to you, but not solved. Your task is to solve it and send it back, whereupon 50 BTC's (minus shipping cost) is entered into your wallet and another one is sent for you to solve. rubikcoin.com This has nothing to do with mybitcoin or tom williams. go hawk your wares on your own thread. shotgun's comment has me stumped! Like I said before, this has nothing to do with the content of the thread. My somewhat tongue-in-cheek comment (actually, one of my brain farts that I wanted to share with the community, then) was in reference to this: Quote If it was really that easy, anyone with a bit of cash would be able to produce practically infinite wealth. As far as hawking wares, rubikcoin.com is not a real site/company. Also, the YouTube link doesn't represent anything I'm even remotely attached to. Therefore, I'm hawking nothing. Please correct me if I'm wrong, shotgun. ty Title: Re: "Tom Williams" likely sold the entire myBTC.com bank @ ~13 and bought back at $8 Post by: Remember remember the 5th of November on August 09, 2011, 08:59:15 PM As someone stated before: Fix'd1. Start a bitcon business 2. Build rep 3. Disable all transactions 4. Claim you were hacked and walk away with the money 5. Buy some strippers and cocaine |