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$190M missing after crypto exchange Quadriga CEO dies

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Re: $190M missing after crypto exchange Quadriga CEO dies

#81

Post by kkarakk »

blunte wrote: post #73
puranjay wrote: post #69

Crypto is a scam and the only reason anyone should partake in it is to either test your gullibility, or scam others. Anything that 4chan's /biz/ board promotes aggressively is a scam 9/10 times

Many plants in nature will kill you if you eat them, but can you say that "Plants are deadly to humans"? It's a bit like money. Money itself isn't bad, but people do incredibly bad things to get money. Likewise, crypto isn't "a scam". People make a lot of scams related to cryptocurrency, but that doesn't mean many of the concepts of cryptocurrency are bad or a scam. Bitcoin may be quite imperfect, but it's also quite…

would you accept payouts from a person(in the US) who only agreed to pay you in Zimbabwean dollars? that's the argument you're making...sure the currency has value but are you prepared to stomach the risk that dealing with it entails?

Re: $190M missing after crypto exchange Quadriga CEO dies

#83

Post by hndamien »

londons_explore wrote: post #76
seibelj wrote: post #3

Edit - This is a conspiracy theory but it doesn’t mean it’s totally crazy - there is a good chance this “dead” CEO is still alive. Very shortly before his death he got his affairs in order and flew to India. Then it’s reported he died along with a death certificate from India. Now they can’t find $200mil in crypto and are not reporting the cold storage addresses. Would not surprise me if there has been massive fraud…

He could perhaps have been having trouble with his Chrones disease, so he got his affairs in order and went to India for potentially risky and expensive treatment, which didn't go well.

And the motivation for getting the affairs in order didn’t motivate including private key management in the affairs. There is zero chance this is not a scam exit.

Re: $190M missing after crypto exchange Quadriga CEO dies

#84

Post by molesy »

alexnewman wrote: post #70
sidyapa wrote: post #11

Earlier quoted context omitted.

I am from India and trust me, finding a public toilet is more difficult than faking a death certificate

i don’t like talking about this in public due to the safety risk, but it’s also very easy in the united stages. you just need paper pen, white out and a fax machine. most death certificates are easily available online. perhaps i restored some of your faith in humanity. Deading someone isn’t more common

Most jurisdictions (US and otherwise) have moved to Electronic Death Registration Systems. There was a fun Defcon talk about "killing" people with them a few years ago - https://www.youtube.com/watch?v=9FdHq3WfJgs

Re: $190M missing after crypto exchange Quadriga CEO dies

#85

Post by bouncycastle »

celticninja wrote: post #71
bouncycastle wrote: post #55

Earlier quoted context omitted.

It actually works the opposite. Every time a heist or loss happens, coins are being removed from circulation, making all remaining circulating coins more scarce, thus more valuable in the long term (market takes a while to reflect this). In heists, the coins become tainted and very difficult to sell as everyone can see their origin. Mtgox removed quite a lot of BTC from the circulating supply.

No it didn't, those coins got back into the supply before the theft was reported publicly. I think the coins stolen from bitfinex are still sitting there so it does happen, just not with the MtGox theft.

Ahh, yes. That's right, a lot of it 'disappeared' without being noticed or reported, so reentered circulation fairly quickly. How much of it was successfully laundered though? Didn't they catch the guy suspected of laundering them? (Someone behind btc-e if I recall)

Don't really want to split hairs here, but there's still 137,891 BTC left in Mt Gox cold wallets that has yet to be liquidated by the administrators. (Out of the 200k that was 'found'). That's quite a significant amount by anyone's calculation.

Re: $190M missing after crypto exchange Quadriga CEO dies

#86

Post by thesaint »

doorbellguy wrote: post #43
sidyapa wrote: post #11

Earlier quoted context omitted.

I am from India and trust me, finding a public toilet is more difficult than faking a death certificate

Are you trying to be dramatic just for the sake of it? Because finding a public toilet (aka sulabh shauchalaya) is not difficult AT ALL. Source: I've lived in 7 cities in India all my life.

Finding a toilet may be possible. Finding a toilet not absolutely covered in excrement may be another matter...

Re: $190M missing after crypto exchange Quadriga CEO dies

#88

Post by mruts »

puranjay wrote: post #69

Crypto is a scam and the only reason anyone should partake in it is to either test your gullibility, or scam others. Anything that 4chan's /biz/ board promotes aggressively is a scam 9/10 times

What does a scam mean? That it doesn’t have value? That it only has value for a select few scammers?

Crypto as a way to avoid taxes, buy goods on the black market, and as an alternative to a shaky local fiat currency are all great examples of crypto’s value.

Also, there’s also the investment angle. It (hopefully) operates as an uncorrelated store of value much like gold or other precious metals.

I think it would be very hard to argue that BTC and ETH are scams, that is, created for the purpose of the scammer stealing from the “scammee.”

Re: $190M missing after crypto exchange Quadriga CEO dies

#89

Post by jessaustin »

ekianjo wrote: post #41
sidyapa wrote: post #11

Earlier quoted context omitted.

I am from India and trust me, finding a public toilet is more difficult than faking a death certificate

Can you easily buy a new identity and passport though?

That could have been obtained before the "death", anywhere in the world. (and forged entry stamps could also be obtained)

Re: $190M missing after crypto exchange Quadriga CEO dies

#90

Post by mruts »

kkarakk wrote: post #81
blunte wrote: post #73

Earlier quoted context omitted.

Many plants in nature will kill you if you eat them, but can you say that "Plants are deadly to humans"? It's a bit like money. Money itself isn't bad, but people do incredibly bad things to get money. Likewise, crypto isn't "a scam". People make a lot of scams related to cryptocurrency, but that doesn't mean many of the concepts of cryptocurrency are bad or a scam. Bitcoin may be quite imperfect, but it's also quite…

would you accept payouts from a person(in the US) who only agreed to pay you in Zimbabwean dollars? that's the argument you're making...sure the currency has value but are you prepared to stomach the risk that dealing with it entails?

Well not to buy a pizza, probably not.

But if I wanted to buy drugs, then, yeah probably.

Also 90% of the population is in the developing world where it might actually be the case that BTC is more trusted than their local currency.

I think it’s myopic to consider the value of crypto against the 1st world’s banking system with respect to ‘standard’ transactions.

The value lies in either: ‘non-standard’ transactions (buying black market goods) or in developing nations.

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