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A Lot Of Folk Without Their Own Crypto-Lockers Are Going To Get Burnt

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chickenHeadKnob:
There never was a cold wallet as described in these stories, hence there is no wallet address to track on the block chain. Quadriga was an embezzlement scam from the outset. A co-founder and significant shareholder was Michael Patryn alias Omar Dhanani convicted fraudster. Very likely all crypto on Quadriga was moved from Quadriga's hot wallet(s) to wallets kept on other exchanges, like Bitfinex, huobi, kraken ect. On a continual basis. Spent and gambled away, in a kind of fractional reserve banking scam.

reddit official Quadriga column, moderated by someone at Quadriga:https://www.reddit.com/r/QuadrigaCX/
reddit unofficial column:https://www.reddit.com/r/QuadrigaCX2/

excellent youtube reviews:

https://www.youtube.com/watch?v=3xfoZewsUWo&feature=youtu.be

Stray Electron:

--- Quote from: RoGeorge on February 09, 2019, 07:15:31 am ---]

AFAIK, there is no such thing like real physical money, and this is so for a very, very long time. 

--- End quote ---

  Point taken but paper dollars (or Pounds, Yen, etc) still have a physical presence and are always going to be worth whatever the US Dollar is worth in the world market.  OTOH a number on a computer screen from someone like Quadriga or Bitcoin has no inherent value what so ever and never has.  It's only worth what ever value someone else thinks that it's worth and is willing to give you paper dollars in exchange for. If no one thinks that it's worth anything than it's worth zero regardless of how large the numeric number is. It's only the power of belief in the value of virtual currency that makes it worth anything and how anyone can believe in a virtual company that exist only in the cloud of the internet and with no physical presense or assets is beyond me.

   The entire reason that paper currency still has "value" even though it is no longer baked by gold is that it established a value in the economic marketplace when it was backed by gold and it still retains that "value" even after the gold reserves were removed. Not every currency was able to retain it's value against other currencies so they have fallen when compared to others.  The most widely known example was the value of the Germany Mark in the 1930s. Today's Venezuela is rapidly heading down the same path.

   Pretty much everyone, worldwide, has confidence in US Dollars and will accept them.  Quadriga and other virtual currency,  not so much. 

sokoloff:
http://dayssinceacryptocurrencyexchangehaslostmorethan100million.com/    :-DD

Dave:

--- Quote from: Stray Electron on February 10, 2019, 12:00:32 am ---   The entire reason that paper currency still has "value" even though it is no longer baked by gold is that it established a value in the economic marketplace when it was backed by gold and it still retains that "value" even after the gold reserves were removed.

--- End quote ---
So you're saying that it's only the power of belief in the value of fiat currency that makes it worth anything, gotcha.

MT:
One solar storm strong enough and all your bitcoins are gone while gold stays and remains in its shape where it is. :-DMM




--- Quote from: Stray Electron on February 10, 2019, 12:00:32 am ---The entire reason that paper currency still has "value" even though it is no longer baked by gold is that it established a value in the economic marketplace when it was backed by gold and it still retains that "value" even after the gold reserves were removed. Not every currency was able to retain it's value against other currencies so they have fallen when compared to others.  The most widely known example was the value of the Germany Mark in the 1930s. Today's Venezuela is rapidly heading down the same path.

Pretty much everyone, worldwide, has confidence in US Dollars and will accept them.  Quadriga and other virtual currency,  not so much.
--- End quote ---
;D  you rely buy into bitcoin/dollar banksters official constructed explanation. Notice how loads of folks labels this
latest bitcoin fraud in "million of dollars"! So there you go Bitcoin isn't a currency, but dollar are yet both is systematized ponzi like scams.

I leave you pondering over why numerous countries repatriating their gold reserves from US and UK and why there is so much fuzz about it for the past 5-6 years also on why China, Russia and other has been stock piling gold for a decade at least and why Europa is starting up their own Swift while everyone else is doing their best to abandon US dollar toilette paper. US have national debt of 23 trillion, will they pay? of-course not, so what can they do except hard reset, so US as of today is already bankrupt while FED continues print toilette paper as crazy's.

Interesting to see in reality it is to increase a nations debt, some paper, ink and men in suits, and there you go!

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