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  #361  
Old 02-26-2019, 06:46 AM
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Originally Posted by Meditative_Zebra View Post
And apparently the whole exchange was really a ponzi scheme according to a third party that looked at the blockchain and found that QuadrigaCX was using deposits from new customers to pay for withdrawals from existing customers.
Kind of hilarious to me that in this BOLD NEW ERA OF CRYPTOCURRENCY SCAMS, the whole thing boiled down to LAPPING, the most basic of all basic bitch financial frauds.
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  #362  
Old 02-26-2019, 06:50 AM
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Technology has not allowed us to create any new financial systems whatsoever, only accelerate the growth of the old schemes with shiny new veneers.
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  #363  
Old 02-26-2019, 08:58 AM
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Originally Posted by Positronic Brain View Post
Really? I've never seen one outside the US. The fact that I've never seen a Bitcoin ATM in Barcelona tells me that either I'm living in the right part of the city or that my perception filter is very good at filtering annoying noise.
It was in Heron City, in Nou Barris. Lowest average income district in the city (hence an outlet mall). I don't know how that translates into bitcoin use tho.

That or maybe the managers were convinced by the ATM seller that it was going to be the next big thing, it would give them status, they would be trend setters or whatever...


Given the success of the place, I wouldn't put it past the old management to fall for it...

Last edited by Sensenic; 02-26-2019 at 09:00 AM. Reason: quote'd because I got new page'd
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  #364  
Old 02-26-2019, 09:15 AM
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Originally Posted by BEAT View Post
The slow, terrible death of Bitcoin is the kinda shit finance nerds of the future will write epic poems about.
So what you're saying is you want to get in on the ground level with my new ICO, KublaCoin?
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  #365  
Old 02-26-2019, 10:31 AM
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I never saw a bitcoin ATM in Vienna, but ther is a whole Bitcoin shop here. I once looked inside and saw two early-20 guys talking to an older lady. There were also Bitcoin t-shirts. Really a bizarre place.
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  #366  
Old 02-26-2019, 04:21 PM
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  #367  
Old 02-26-2019, 11:32 PM
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Heron City
Say no more.
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  #368  
Old 02-27-2019, 04:50 AM
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Who the fuck films themselves getting dressed in the morning.
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  #369  
Old 03-06-2019, 10:04 AM
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Behold a shocking turn of events.

Quote:
Six "cold wallets" Quadriga used to securely store cryptocurrency offline were expected to hold millions. But they were emptied out in April, months before Cotten's death was reported, "bringing the balances down to nil," audit firm Ernst & Young says.
No one, no one could have foreseen this.
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  #370  
Old 03-07-2019, 12:29 AM
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Just to reiterate, Bulgakov's link is about the QuadrigaCX exchange with the massive fortune that disappeared when the owner mysteriously died that we were discussing earlier in the thread:

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Originally Posted by Meditative_Zebra View Post
$145 million is now inaccessible because the guy was using his personal laptop and after he died nobody knows the credentials to bypass his encryption.

And he died at the age of 30. While in a foreign country on the opposite side of the planet. While opening an orphanage!!??

And apparently the whole exchange was really a ponzi scheme according to a third party that looked at the blockchain and found that QuadrigaCX was using deposits from new customers to pay for withdrawals from existing customers.
And Destil presciently said:

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Originally Posted by Destil View Post
There's like 0 chance that dude didn't fake his own death to make off with the money.

I don't care if they had a death certificate.
And Destil seems to be overwhelmingly correct because it turns out once they were able to decrypt the "dead" CEO's laptop which should have held the digital wallets that had the $140 million that belonged to all the customers on the exchange instead they found empty wallets. It turns out that days before his "death" in India

Quote:
Originally Posted by ExtremeTech.com
It appears [QuadrigaCX CEO] Cotten began transferring funds out of the cold wallets in the year prior to his death. In April 2018, most of the wallets were cleaned out. One remained active, presumably to service the needs of customers in the short term. However, that wallet was emptied on December 3, 2018. Thatís just a few days before Cotten passed away in an Indian hospital. To say thatís suspicious would be a profound understatement.
What a fucking racket.
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  #371  
Old 03-07-2019, 06:21 AM
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Who could have possibly guessed that the money only used by criminals for crime would be plagued by crime.
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  #372  
Old 03-07-2019, 10:53 AM
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Quote:
Originally Posted by Meditative_Zebra View Post
What a fucking racket.
Makes the international banking system look surprisingly on the level by comparison, doesn't it?
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  #373  
Old 03-07-2019, 03:46 PM
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Quote:
Originally Posted by Bulgakov View Post
Makes the international banking system look surprisingly on the level by comparison, doesn't it?
Well...

Maybe?
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  #374  
Old 03-11-2019, 12:53 PM
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Quote:
Originally Posted by BEAT View Post
Who the fuck films themselves getting dressed in the morning.
you can probably guess (a sex pest)
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  #375  
Old 03-11-2019, 12:55 PM
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WHELP.
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