BitcoinTristate Mysteriously Disappears: Was it because of the Mt Gox Scandal?
BitcoinTristate established themselves as a group of Bitcoin traders when Bitcoin was getting more popular around the end of 2013. They were from the tri-state area, as evidenced by their name and established themselves on the LocalBitcoins.com site and throughout forums as one of the quickest ways to buy Bitcoin. They always guaranteed transactions in 15 minutes or less and were very quick in response to customer’s needs. At the beginning of their existence, they were known as one of the more reputable ways of getting Bitcoin for users of Bitcoin who had no other method of getting it, or were new to the Bitcoin community. Positive feedback for the BitcoinTristate group was inherently abundant throughout their first few months of trading. At the time of Bitcoin being around $1,000 per Bitcoin, they were doing upwards of $100,000-$200,000 a day in trades without a single complaint. Around the time that the Mt Gox scandal arose, the Bitcoin Tristate group vanished and left a few patrons of their services in the dark, and without any answers when it came to refunds, Bitcoin, or any other form of restitution. According to their LocalBitcoins profile, they have not been seen trading on the site since early February 2014 and the patrons that had purchased Bitcoin from them, are undoubtedly out of whatever amount of money they had spent to purchase Bitcoin. Speculation is that the BitcoinTristate group had most of their funds allocated and tied up within Mt. Gox.