231–240 of 345 posts
> The investigators said they found other issues too, such as that Quadriga kept "limited books and records" and never reported its financials. New SaaS idea: Skin Lotus 1-2-3 and sell it as a "decentralized on-premise bookkeeping solution for your blockchain"
you made my day
My take on this is that they probably were insolvent for a long time already due to previous hacks/theft. The CEO just decided to lie about the supposedly 137M in funds 'safely' stored on his laptop. This is also what happened at MtGox, except that at MtGox they 'lost' wel over a million BTC. Edit: relevant listening: https://darknetdiaries.com/episode/9/
That didn't mean there wasn't some funds left over. But when someone is the position where they've taken someone's money and only have some left, leaving with the rest inherently looks better than staying and being broke and guilty.
Adds an extra nuance to "wake up, time to die"
Earlier quoted context omitted.
The banking crisis happened in large part due to lack of regulation, not because of them.
I'm not sure. I'd say the banking crisis was catalyzed by the lack of regulation, but it was going to happen anyways. The whole thing was largely a result of political pressure to create incentives for a home ownership society, and, if you go deeper, a result of political pressure fostering a growth-at-all-costs economic system that will periodically hit societal resource and efficiency limits, regulations be damned.
That sort of system will collapse, but not necessarily the banks.
There is no law of nature that says we have to use free to fuck anybody capitalism run rampant over all. It is a choice.
I think it is time we made a different choice!
Earlier quoted context omitted.
Not true, an entity with control of >50% of the pool can. I thought such a pool exists
Even with 100% of hashpower you can't steal anyone's money
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1. If the coins were moved through tumblers that would be detectable and highly suspicious. 2. Safely tumbling large quantities of coins is especially difficult. At this scale I would wager twenty dollars that blockchain analysis should be able to trace at least some of the coins with high confidence. 3. It is rumored that many tumblers are run by law enforcement.
Outside the sphere of crypto, this is called "washing" or "laundering" ("cleaned", etc. Anything along this line). "Laundering" is the legal term). Such acts are typically traceable, but generally fly under the radar. Once someone is aware that the money is being washed it is usually uncovered (AFAIK). Washing crypto would seem even more difficult because transactions are all accounted for. So I'd assume a cleaner wo…
What. Were. The. Addresses.
1JPtxSGoekZfLQeYAWkbhBhkr2VEDADHZB
1ECUQLuioJbFZAQchcZq9pggd4EwcpuANe
1J9Fqc3TicNoy1Y7tgmhQznWrP5AVLXj9R
1HyYMMCdCcHnfjwMW2jE4cv9qVkVDFUzVa
1JZJaDDC44DCKLnezDsbW43Zf8LspCKBYP
Edit: https://www.reddit.com/r/QuadrigaCX2/comments/aq3r08/a_break...
For some reason this sounds like the plot of a movie starring Leonardo DiCaprio. CEO of Crypto Company... 1) Takes time off to build orphanage in region noted for fake deaths. 2) Subsequently dies unexpectedly. 3) Is immediately cremated. 4) Wife waits a month before saying "oh by the way he is dead" 5) Wife claims all keys on encrypted laptop 6) World watches as wallets mysteriously empty 7) Experts crack laptop 8)…
> region noted for fake deaths There is a place that is known for this specifically? Where can I read more about this?
What is the average life expectancy there?
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Google for "fake death mafia" returns a bunch of articles that talk about this death, and conveniently have the phrase "in a region known for fake deaths". I don't understand how that becomes a reference point for any region being known for fake deaths. The search results in fact make it look like someone used his death to slander a whole region.
The region became known for fake deaths when the news started implying that it was known for fake deaths. That's how facts are born.
Earlier quoted context omitted.
Before YouTube/cruptocurrency got big, Delhi was known for its counterfeit industry for winning "first to invent" patent fights. There are companies that have stocks of decades or century-old paper that they use to forge aged government documents. I can't find a link to a story at the moment :-(
Can we crowdfund some patent troll busting? Or take down Amazon's stupid one-click patent. Preferably using proof written on an 1800s parchment with quill ink.