The sad part is that bitcoin and the other fake crytocurrencies will be around as long as people are gullible enough to trade their real money for them.
Wow! This is really interesting info.
Dead or not, looks like he was an established con artist. He started pretty young. Maybe if he didn't engage in so much shady activities, he might have survived longer? Crohn's disease is made worse by heavy stress. I would imagine he might have felt some stress from constantly conning people and stealing their money.He soon became enthralled with the bustling site, known as TalkGold, where fly-by-night promoters and gullible investors could connect. Mr. Cotten made nearly 2,000 posts over the next decade. Hidden behind fake names and software to obscure his location, he experimented with shady ventures of his own and pushed them on the forum.
Mr. Cotten’s early online activities, which are previously unreported, proved to be an education of sorts. He apparently launched several schemes – and occasionally ran into trouble. “I sincerely ask that everyone remain calm,” reads a post from his sceptre account in 2004, when he was just 15, in what looks like a scramble to return money to at least 235 investors.
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Mr. Cotten also used money from Quadriga to fund an indulgent lifestyle, travelling the world with his wife, Jennifer Robertson, often flying on private jets. The couple acquired about $12-million in assets, including more than a dozen properties, a Cessna airplane and a yacht.
Over three years, Mr. Cotten liquidated $80-million worth of bitcoin through an offshore exchange, some of which came from Quadriga.
Well congrats. You were also all over HCG two years ago too. How did those thoughts and predictions work out for you? Instead of making predictions such that I could come back two years later to joyfully claim "told you so" I basically said "I'm in at $7" and then shut my mouth.Also, I call dibs on identifying Quadriga as a scam/con back in January 2019
That has been my impression as well. He is okay enough to go overseas, then has Crohn's disease flare up or complications, dies in a private clinic, the doctor there says he died, no other confirmation of identity, no autopsy there or here, his funeral is closed-casket ....I still have my doubts about whether Cotten is really dead. This guy is a life long con artist since age 15.
He was supposedly opening an orphanage in India. Really? Charity work in a third world country? That's awfully generous and altruistic for a man who's dedicated his life to ripping off people.
Where are you getting your information on Bitcoin.Bitcoin is a capable criminal's nirvana. The anonymity, lack of understanding by law enforcement, and complexity of trying to follow the money makes it easy for criminals.
Despite hundreds of millions (perhaps billions) of dollars gone missing, nobody has ever been convicted of the thefts or the trading fraud on the exchanges.
The only major conviction was to Ross Ulbricht who operated the illegal dark Silk Road website selling drugs, guns and murder using bitcoins as the currency.
He was sentenced to a double life plus 40 years in prison without parole for a litany of charges including paying for a murder he believed had taken place at his direction.
The "hit man" was in fact an FBI agent. They nabbed him at the San Francisco Public Library with his laptop open and logged in. Bye.......Ross.
Actually bitcoin is a fully public blockchain, and it tells you exactly where the money is coming from and going to.The blockchain doesn't tell you who is making the transactions or where the money is coming from or going to. It only records the transaction was made.
Bitcoin "wash" sites accept coins from thousands of owners and combine them together, so nobody can follow the history of the coins.
Terrorists, criminals, and offshore gambling sites are the main users of bitcoins as a currency, as demonstrated by the Silk Road website.
If it was easy to find the money, people wouldn't have been scammed for hundreds of millions of dollars that have disappeared into thin air.
Where is the money from Quadriga and all the other scams ?
All the major cryptocurrencies have target blocktimes, and most transactions are confirmed in a few minutes.As to the blockchain, it has been shown over time to have weaknesses.
As the number of transactions recorded continued to expand, the time delay for approvals continued to lengthen.
It caused a "double spending" problem where people would spend in one store and then immediately spend the same bitcoins in another before the original transaction was recorded.
The big debate was on "forking" the blockmain into several parts, which would itself defeat the concept of a complete historical record on one blockchain channel.
In any event, given the millions of transactions per second that occur in the real world, the blockchain is incredibly slow and not useful to financial institutions for real time transactions.
Exactly it's the exchange not the underlying currency. Crytpo 101 is don't leave large quantities of digital currency on an exchange accountWhen people thought they "bought bitcoin", they didn't, they bought a website that said they had a balance of bitcoin in their account. But in actuality they never had more than a fraction of the bitcoins they claim they did. Just like any other ponzi scheme, it has almost nothing to do with bitcooin.