This is why you should be wary of cryptocurrencies.

originally posted by: roadgravel
Trusting your money to a guy in India?

Some guy in India called today saying my computer was reporting to geek support that it needed something.

Holy crap.

edit:

The universe dishes out a life lesson.

A $190 million fatal crap 😲

originally posted by: UncleTomahawk
This is something else cause they guy may not even be dead and reports are that they never held that amount of crypto in the company.

Do you have any links to sources saying its stil moving or he may not be dead?

Yes there are stories out there claiming that some crypto researchers say the company never had that amount of crypto. The reason for the statement about him perhaps faking this is because there is no body and only a death certificate from some foreign country he was said to be in. I am not much of a linker but just search the story and you will find the article.


eta search newsbtc quadrigacx

Anyone try 'password' or '123456'? Works for my Chase account.

a reply to: projectvxn

Crypto, along with our current money scheme, are doomed to fail.

Crypto because it requires people to be interested in it for it to have ANY value. No one cares about your particular crypto coin anymore? Whups...it failed and the $100, $1000, $10000+ you paid is gone.

Our current system is no better. Stocks and such are prey to the same issues as cryptos but the place where cryptos sort of take the lead is it's not an interest based economy.

Long story short, both systems are hobbled horses with brain damage trying to hold on til the finish and here we stand cheering on our own inevitable demise like so many idiocrats in our idiocracy.

Look into the interest free economy and the 3 U.S. presidents who were killed for trying to institute it. Combine interest free economy with cryptos and you may just have the answer. However, should you leave running, the machinations of public interest, you run towards your inevitable demise.

Also, you lie. Crypto is profitable place for a select few otherwise people wouldn't have lost so much money. Crypto is only profitable for those who got in at the beginning and only for those who get more people interested in their particular crypto because then the value of that crypto increases thus making them more money.

Hubris will be your downfall.

a reply to: wtfatta

Crypto, along with our current money scheme, are doomed to fail.

Uh huh..

Crypto because it requires people to be interested in it for it to have ANY value.

That's not how it works.

No one cares about your particular crypto coin anymore? Whups...it failed and the $100, $1000, $10000+ you paid is gone.

Translation:

Have a #ty project that produces nothing and your crypto failed? Don't be surprised.

If you're stupid enough to dump $1k on Dogecoin and you lose your shirt, that's your problem.

Also, you lie.

What's my lie?

Crypto is profitable place for a select few otherwise people wouldn't have lost so much money.

It's not a lie. It is profitable for me and many others. Just because YOU HAVE NO GOD DAMNED CLUE WHAT YOU'RE TALKING ABOUT doesn't make me a liar.

Hubris will be your downfall.

Says the guy who gets it consistently wrong this entire post.

I don't get why anyone is surprised by this story. People wanted unregulated cryptocurrencies, and that's exactly what they got here. It seems like Quadriga delivered what was sold.

The one thing I don't get though is that for $190 million to be missing (well, not missing; it's in inaccessible 'cold wallets' that nobody knows, or admits to knowing, the passwords for) that money has to be somewhere. Somewhere out there are people who gave Quadriga that money, and are out some fraction of that $190 million. It has to be in a physical bank account or under a mattress or invested in something, somewhere that can be found, doesn't it? The money has to be SOMEWHERE. Due to the files being encrypted, we don't know how much of that money belongs to person A, person B, person C, etc, but the money itself has to be somewhere, either in physical form, or in a bank, or in some form of physical goods purchased (diamonds, real estate, beanie babies, whatever).

I mean, if I'm missing something, please enlighten me; I'm not trying to be a jerk (well, maybe a little with the very first sentence, because I think cryptocurrency is dumb), I really don't understand how the money can be gone. I do understand that we can't prove who owns how much of the cryptocurrency.

a reply to: DragonsDemesne

If you hold your private keys then the money is yours. If you don't hold your private keys, then the money is not yours. This is the basic rule of crypto.

I think this guy evaporated with these people's money. I hold all of my private keys.

While it wouldn't surprise me in the slightest that either he or his wife stole the money, it still doesn't answer the questions I had.

delete me, website lagged

delete me, triple post, website lag

a reply to: DragonsDemesne

The money is in the value of the coins, it's the same situation as if you bought a chunk of gold and then misplaced it.