Cryptocurrencies Part III - We ran as if to meet the Moon

[Do Make Say Think]

Bitcoin is under $3500. It's a scam.

It isn't a scam, it was something new and people got excited too quickly.

 

[VickAshley]

Closing in the the bottom, getting ready for the juicy bounce...time to load up on the cheap crypto!

What names are you buying exactly?

 

[Dumpster Flyers]

 

[What the Faulk]

Are you calling it a pyramid scheme? If so, don't use phrases you don't understand.

 

[What the Faulk]

Bitcoin is under $3500. It's a scam.

Don't be stupid. It's not like it started at 20k.

Lots of people who missed out or got in late dancing on a premature grave it seems. This is nothing new.

 

[Dumpster Flyers]

Are you calling it a pyramid scheme? If so, don't use phrases you don't understand.

You're going to lose all your money hahahahahahahahaha

 

[ScottishCanuck]

^ What a dick.

 

[What the Faulk]

You're going to lose all your money hahahahahahahahaha

Nope. Also you still dont know what pyramid scheme is.

Imagine being this angry at a stranger on the internet because they made money when you were too dumb to understand how. What a bitter, jealous, sad life.

 

[Dumpster Flyers]

Nope. Also you still dont know what pyramid scheme is.

Imagine being this angry at a stranger on the internet because they made money when you were too dumb to understand how. What a bitter, jealous, sad life.

I have literally millions and you’re sooooooooo jealous of my investments

 

[What the Faulk]

I have literally millions and you’re sooooooooo jealous of my investments

View attachment 159935

Sorry you're too dumb to understand how it all works.

 

[ScottishCanuck]

$190-million missing after crypto exchange Quadriga CEO dies/

Did anyone catch this? The CEO died and didn't share the private keys with anyone. So now they've lost their funds and a lot of users have lost money. Negligent and incredibly stupid on Quadriga's part.

 

[ScottishCanuck]

The QuadrigaCX saga keeps getting weirder

The plot thickens.

 

[Pirate King Luffy]

Rip. I had 40 bucks on Quadriga CX.

 

[The Crypto Guy]

Never heard of it.

 

[M.C.G. 31]

Definitely a Ponzi scheme lol

 

[mouz135]

Rip. I had 40 bucks on Quadriga CX.

I hope your quality of life doesn't suffer since you're unable to retrieve your funds. God bless

 

[Pirate King Luffy]

I hope your quality of life doesn't suffer since you're unable to retrieve your funds. God bless

Thank you. It's going to be a hard time but I'll pull through.

 

[What the Faulk]

Definitely a Ponzi scheme lol

Don't use words you don't understand

 

[ScottishCanuck]

Don't use words you don't understand

Why? He's not wrong. On the surface the whole Quadriga situation isn't all that dissimilar to a Ponzi.

 

[The Crypto Guy]

Why? He's not wrong. On the surface the whole Quadriga situation isn't all that dissimilar to a Ponzi.

I'm not seeing how this situation is anywhere at all like a ponzi scheme? Could you elaborate please.

 

[Do Make Say Think]

Juat found out a friend of mine was very heavily invested in Quadriga... He is very worried and his girl is not impressed...

 

[waffledave]

I'm not seeing how this situation is anywhere at all like a ponzi scheme? Could you elaborate please.

All the money is gone. They can say it still exists and is just inaccessible but we don't know that for real. It's effectively gone.

 

[The Crypto Guy]

All the money is gone. They can say it still exists and is just inaccessible but we don't know that for real. It's effectively gone.

But the circumstances involving it dont really classify as anything like a ponzi scheme, unless i’m missing something?

 

[waffledave]

But the circumstances involving it dont really classify as anything like a ponzi scheme, unless i’m missing something?

- The guy (white Canadian dude from Nova Scotia) died suddenly and unexpectedly, in India. Alone. Opening an orphanage. Right after he signed a new will.
- His widow says there are no business records involving Quadriga anywhere in their home. She has no idea where any of it may be.
- No trace of the company, no employees, no office, no accounts, nothing.
- Everything is apparently on a laptop but not recoverable.
- The majority of the funds were allegedly locked away in cold storage and nobody knows where this is or where it may be. Or if it even exists.
- Leading up to this, the company was suffering from huge liquidity problems, was in court battles, and claimed to be unable to do business because banks were giving them a hard time.

It really, really looks like the guy stole the money and ran. Or possibly he lost all the money and ran.

 

[Do Make Say Think]

- The guy (white Canadian dude from Nova Scotia) died suddenly and unexpectedly, in India. Alone. Opening an orphanage. Right after he signed a new will.
- His widow says there are no business records involving Quadriga anywhere in their home. She has no idea where any of it may be.
- No trace of the company, no employees, no office, no accounts, nothing.
- Everything is apparently on a laptop but not recoverable.
- The majority of the funds were allegedly locked away in cold storage and nobody knows where this is or where it may be. Or if it even exists.
- Leading up to this, the company was suffering from huge liquidity problems, was in court battles, and claimed to be unable to do business because banks were giving them a hard time.

It really, really looks like the guy stole the money and ran. Or possibly he lost all the money and ran.

I think the point is that not every scam is a ponzi/pyramid scheme.