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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

#101

Post by akudha »

Arnt wrote: post #80
Scoundreller wrote: post #58

Earlier quoted context omitted.

But will a Canadian that’s unfamiliar with the country be able to find it? (Serious question, I have no idea what the answer is).

Extremely easy. I've been unwell in India, and had unwell children there. India probably sucks if you have no money, but if you have a white face or other sign of affluence, then getting to a physician or hospital is no problem at all, and the care is good.

India probably sucks if you have no money

This is true in most of the world, not just India :P

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

#102

Post by tim333 »

seizethecheese wrote: post #4
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…

Well, it is a conspiracy theory, but not all conspiracy theories are wrong...

Not sure there's even a conspiracy required, just the CEO being a fraudster.

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

#105

Post by gammateam »

tigershark wrote: post #36

The amazing thing is that BTC is still 3.5k after the countless money heist that happened. Actually I really thought that it was dead after Mt. gox. I guess that it’s Darwin at work here.

funny how people get the same information and make opposite conclusions ain't it

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

#106

Post by whttheuuu »

tigershark wrote: post #36

The amazing thing is that BTC is still 3.5k after the countless money heist that happened. Actually I really thought that it was dead after Mt. gox. I guess that it’s Darwin at work here.

It's like the opposite of the feds printing money. Removing currency from circulation decreases supply making it more scarce.

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

#107

Post by aphextron »

This illustrates why, through extensive experience and interaction with "blockchain" folks, I want nothing to do with the entire crypto industry. It attracts the very worst of the worst. I'm sure there are plenty of honest companies trying their best to legitimize this stuff. But the vast, vast majority of it is just outright plundering and fraud by the most vile people on earth.

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

#108

Post by tyingq »

covercash wrote: post #26
whoisjuan wrote: post #7

Earlier quoted context omitted.

Also, to feed the conspiracy theory that this is a fraud: They are claiming he died from Chron’s disease which is highly unlikely. It seems like a plausible deniability move. He probably has Chron’s disease and that can be easily proven through his medical history. Also is easier to tie that, to a story in which he couldn’t get the right treatment for his Chron’s disease complications abroad.

Dying from complications related to Crohn’s is not out of the question, especially in places that don’t always have the best health care.

It's also more likely to die from complications of, say, surgery for Crohn's. So you might make a will beforehand (he made a will 2 weeks prior to dying). For the same reason, you might look into key escrow or similar (he clearly did not).

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

#109

Post by tyingq »

aphextron wrote: post #107

This illustrates why, through extensive experience and interaction with "blockchain" folks, I want nothing to do with the entire crypto industry. It attracts the very worst of the worst. I'm sure there are plenty of honest companies trying their best to legitimize this stuff. But the vast, vast majority of it is just outright plundering and fraud by the most vile people on earth.

And even if you are generous and say it's incompetence and not fraud...that's still a good reason to steer clear.

It's certainly one or other when this sort of thing happens.

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

#110

Post by mruts »

demxzy wrote: post #92
mruts wrote: post #90

Earlier quoted context omitted.

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 (b…

Even in majority of developing countries, it's better to keep your money in Fiat or even USD account(where allowed) becuase you don't suddenly loose 80% in a month or two (Exceptions bring countries like Zimbabwe and Venezuela). Sure, you could loose say 20 to 30% due to fiscal adjustments due to many factors over a year, but almost everyone in your country would likely be in the same boat as you and things like PPP…

A lot of developing countries prohibit currency exchange. For example I moved from the US to Tanzania about 6 months ago and the government has outlawed currency exchanges. There are only 2 ways to get USD: 1) the black market, which is expensive, 10% above the “fair” price 2) the National bank, which is 25% over the “fair” price.

I think BTC might be an attractive alternative here.

Moreover, by some measures, annual inflation is 7-10%. So holding the local currency is highly penalized

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