Canadian Money Forum banner
61 - 78 of 78 Posts

·
Registered
Joined
·
9,298 Posts
Mount Gox, Quadringa, .......there is a long list of exchanges, scams, and thefts with coins still not recovered.

Since it's inception, bitcoin has been a home for the shadiest of characters.
Well actually they know where the coins went (that's the point of a blockchain)

But the issue is, particularly with Quadringa is that someone took the money and ran, it wasn't even really a bitcoin scam as much as "send envelopes of money to some guy and hope for the best".
Lots of experts were pointing out that Quadringa never had the amount of crypto they claimed to.
 

·
Registered
Joined
·
17,139 Posts
The scammers are located in countries that don't regulate bitcoins or chase down the thieves and scammers.

The hackers in Russia and Iran probably work for their government. We can't even stop phone scammers from India.

One thing we do know for certain, the customers no longer have the coins.
 

·
Registered
Joined
·
17,139 Posts
Have you never heard of mixing the coins ? The transactions have ID but not the individual bitcoins. Once mixed.......those coins could be in any wallet.
 

·
Registered
Joined
·
5,627 Posts
Mount Gox, Quadringa, .......there is a long list of exchanges, scams, and thefts with coins still not recovered.

Since it's inception, bitcoin has been a home for the shadiest of characters.
In other words you don't know the first thing about a decentralized blockchain

Mt Gox is not decentralized. It's a centralized exchange. I believe they are selling off the bitcoin from Mt Gox now through mediation. Haven't really paid attention to it

Quadriga same thing - centralized exchange. Not your keys = not your crypto
 

·
Registered
Joined
·
4,260 Posts
If we're going to talk about something can we at least call it by the real name?

It's Quadriga. Not Quadringa.

And I lost a few thousand on that exchange. There will always be rugpulls and scams and things that happen when something is new. That's how it has always been for the history of time. It's not something unique to crypto.
 

·
Registered
Joined
·
5,627 Posts
I think it’s time for everyone to create their own cryptocurrency. 😏
It takes like 5 minutes to create a token on a smart contract blockchain. Many create their own NFTs and social tokens lately

Just like every company can have their own rewards points and everyone can make a social media account

Without a massive network effect and high volume it doesn't change much
 

·
Registered
Joined
·
331 Posts
I used to park 100k at EQ bank like you earning 1%. Now it earns double digits lending to crypto hodlers who want some fiat but don't want to sell their crypto. Nobody is giving a discount for crypto purchases yet but crypto standard exchange fees are like 10 times less. So the question is whether you want to speculate dubiously on the future potential buying up Fort Mac land 100 years ago or wait until Ford sells everyone a model t
12% yields for Canadian Stablecoins pegged to the Canadian Dollar. Gotta love that.
 

·
Registered
Joined
·
17,139 Posts
You can order all kinds of "coins" off Amazon and you can even eat them.
 

·
Registered
Joined
·
9,298 Posts
Have you never heard of mixing the coins ? The transactions have ID but not the individual bitcoins. Once mixed.......those coins could be in any wallet.
Yup, but you're mixing to launder coins, and arguably everyone who put coins in is participating in the crime, and they could all get flagged.
 

·
Registered
Joined
·
5,627 Posts
Yup, but you're mixing to launder coins, and arguably everyone who put coins in is participating in the crime, and they could all get flagged.
Mixed transactions can still be tracked too. It would take time/effort and professional level info and tools. Depends how hard someone wanted to track it

It's like a VPN. A speedbump to authorities. It does make transactions a lot more private than say a public ledger
 

·
Registered
Joined
·
9,298 Posts
Mixed transactions can still be tracked too. It would take time/effort and professional level info and tools. Depends how hard someone wanted to track it

It's like a VPN. A speedbump to authorities. It does make transactions a lot more private than say a public ledger
Well lets say 100 addresses put 1 coin into a mixer, then those coins got to 100 new addresses, it's not possible to match up all the old and new addresses.
 

·
Registered
Joined
·
5,627 Posts
Well lets say 100 addresses put 1 coin into a mixer, then those coins got to 100 new addresses, it's not possible to match up all the old and new addresses.
This forum is really not worth going in depth anymore

Mixed transactions have been tracked. So much data is logged now. IP addresses, values, times, emails. All you have to do is associate a few wallets even at a different time

Depends on the effort and sophistication of the mouse vs the cat
 

·
Registered
Joined
·
17,139 Posts
Crypto getting hammered along with stocks. US Treasuries sales are strong.
 

·
Registered
Joined
·
5,627 Posts
Yo buyin' the dip right sags?

Crypto rebounded from the 2020 covid panic sale with a quick 2x

This is better than the usual black friday sales
 

·
Registered
Joined
·
17,139 Posts
Yo buyin' the dip right sags?

Nope......we can't eat bitcoins and "dip" doesn't store well..

We are stocking up on supplies in preparation for the doomsday virus lock down.

WHO just announced they gave the mutation the Greek name Omicron, so we are planning ahead.
 
61 - 78 of 78 Posts
Top