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Thread: For those who have cryptocurrencies

  1. #1
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    For those who have cryptocurrencies

    Cryptocurrency exchange loses $145 million after CEO takes passwords to the grave
    An affidavit filed by QuadrigaCX on January 31 reveals that there are 26,500 bitcoins ($92 million), 11,00 bitcoin cash ($1.3 million), 11,000 bitcoin cash SV ($707,000), 35,000 bitcoin gold ($352,000), 200,000 litecoin ($6.5 million) and 430,000 ether ($46 million) stored on Cotton’s encrypted and inaccessible laptop.

    While the company has hired several security researchers (read: hackers) to attempt to access the laptop, they’ve had very little success so far. The company’s stance has gone from “Quadriga’s inventory of cryptocurrency has become unavailable and some of it may be lost” to “most, if not all” of their customers will suffer damages.
    https://www.techspot.com/news/78557-...ceo-takes.html


    This is an abject lesson in the inherent risks of not just cryptos but of counterparty risk/involvement in general, as in when someone else is holding your money "for" you.
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

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    Team GunsNet Silver 12/2011 N/A's Avatar

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    I read on another site that the currency that is "lost" is locked up in an "exchange". If you didn't leave your money on the exchange, but moved it to a "wallet", then you didn't lose it.

    Someone pointed out that there was some small activity on the exchange after the guy's death, .......
    No enemy of America would have ever been killed if they didn't show up to be killed. HDR

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    Team Guns Network Silver 04/2013 alismith's Avatar

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    If you can't hold it in your hand, you don't really own it.
    "Valar morghulis; valar dohaeris."

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  4. #4
    Administrator imanaknut's Avatar

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    Quote Originally Posted by alismith View Post
    If you can't hold it in your hand, you don't really own it.
    My sentiments exactly.

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    Quote Originally Posted by imanaknut View Post
    My sentiments exactly.
    Mine too.
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

  6. #6
    Senior Member Full Otto's Avatar

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    I guess you can take it with you
    For peace of mind, resign as general manager of the universe

  7. #7
    Senior Member JTHunter's Avatar

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    Quote Originally Posted by alismith View Post
    If you can't hold it in your hand, you don't really own it.
    Quote Originally Posted by imanaknut View Post
    My sentiments exactly.
    Quote Originally Posted by 5.56NATO View Post
    Mine too.
    Agreed !
    “I have little patience with people who take the Bill of Rights for granted. The Bill of Rights, contained in the first ten amendments to the Constitution, is every American’s guarantee of freedom.” - - President Harry S. Truman, “Years of Trial and Hope”

  8. #8
    Senior Member Viking350's Avatar

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    Crypto's just quack like a pump and dump scheme. The creators hold back a bunch and the suckers bid up the units released. The creator makes a killing.

  9. #9
    Guns Network Contributor 01/2015 Altarboy's Avatar

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    Quote Originally Posted by Viking350 View Post
    Crypto's just quack like a pump and dump scheme. The creators hold back a bunch and the suckers bid up the units released. The creator makes a killing.
    To me, it seems like a pyramid scheme of sorts. Those who got in on the bottom floor are doing well. The rest look like they might be in for some hurt. Maybe not. Time will tell.

  10. #10
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    Speaking of fiat currency.....


    Italy Calls to Eliminate Central Bank and Jail Bankers
    Italy's Deputy Prime Minister Matteo Salvini has called for the Italian Central Bank to be eliminated, declaring that the bankers involved in fraudulent activity will "end up in prison for a long time." This move shortly follows Friday's warning from Bank of America that predicts the greatest threat to EPS - i.e., markets - in the next 3 years "is an acceleration of global populism via taxation, regulation & government intervention." The center of Europe's populist revolt, Italy, responded the next day, with the country's coalition government slamming their central bank leadership and stock market regulator. The Italian populist leader Salvini hinted at where the global wave of populism is headed next, escalating his attacks on establishment figures ahead of the European parliamentary vote in May.
    https://neonnettle.com/news/6474-ita...d-jail-bankers


    the gloves are off
    “The two enemies of the people are criminals and government, so let us tie the second down with the chains of the Constitution so the second will not become the legalized version of the first.”
    -Thomas Jefferson

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