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Old 06-24-2019, 07:06 PM   #521
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I'd be interested to know how it is gaing value. Is it possible to manipulate bitcoin? Is this just big owners shifting BTC around to boost value? Not really sure how it works, but I'd frankly be blown away if the interest in bitcoin has doubled with the value. Nothing in the past couple months has fundamentally changed so why the increase? What is the story here?
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Old 06-24-2019, 09:54 PM   #522
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Quadriga was a massive scam.
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Cotten is said to have used 14 accounts under pseudonyms like Chris Markay, Aretwo Deetwo and Seethree Peaohh. About 95 per cent of the account activity identified by the auditors involved the Markay account, which saw deposits of CAD$220 million, 34,806 Bitcoin and 540,011 Ethereum between 2016 and 2018.
Ernst & Young said it only about one per cent of these deposits had supporting documentation, and concluded all the other deposits were "not represented by actual fiat or cryptocurrency."
While the Chris Markay account appears to have been funded with unsupported deposits, the report says, "real cryptocurrency was transferred out."
https://www.theregister.co.uk/2019/0...o_stole_money/
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Old 06-25-2019, 06:57 AM   #523
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His death always seemed like BS to me; a few people I know and I sold through Quadriga, we never had any issues getting our money out from our transactions were all under 10k.

I sold just over 3k worth of currency through that exchange.

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Old 06-26-2019, 06:28 PM   #524
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trying...to....resist..the...temptation...to...scr eam.....at....the....numpties, ah the hell with it I TOLD YOU SO!!!!
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Old 07-26-2019, 04:05 PM   #525
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https://www.cnn.com/2019/07/26/tech/...xes/index.html

The IRS has begun sending thousands of letters to US cryptocurrency holders warning them they may have incorrectly reported the taxes they owe on their transactions involving digital money.

As many as 10,000 taxpayers will have received the letters by the end of August, the IRS said on Friday. Regulators identified the taxpayers through what the agency described as "ongoing IRS compliance efforts."
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Old 07-29-2019, 09:05 AM   #526
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https://www.cnn.com/2019/07/26/tech/...xes/index.html

The IRS has begun sending thousands of letters to US cryptocurrency holders warning them they may have incorrectly reported the taxes they owe on their transactions involving digital money.

As many as 10,000 taxpayers will have received the letters by the end of August, the IRS said on Friday. Regulators identified the taxpayers through what the agency described as "ongoing IRS compliance efforts."
Fear letters, I doubt anything comes of this unless you had enormous profit.
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Old 10-12-2019, 12:14 PM   #527
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The Facebook currency nobody wanted is teetering on the edge of collapse as pretty much every reputable company that had partnered up pulls out: https://arstechnica.com/tech-policy/...ra-in-one-day/
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Old 11-04-2019, 05:17 PM   #528
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Another Canadian exchange goes dark under a cloud of fraud, the ironically named Einstein Exchange: https://www.cbc.ca/news/canada/briti...ints-1.5347104
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Old 11-04-2019, 06:31 PM   #529
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Another Canadian exchange goes dark under a cloud of fraud, the ironically named Einstein Exchange: https://www.cbc.ca/news/canada/briti...ints-1.5347104
who would have thought government regulation would be a good thing!!!
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Old 11-05-2019, 07:28 AM   #530
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Found this interesting:

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A forensic study on bitcoin’s 2017 boom has found that nearly the entire rise of the digital currency at the time is attributable to “one large player,” although the market manipulator remains unidentified.
https://www.cnbc.com/2019/11/04/stud...-to-20000.html
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Old 12-15-2019, 09:21 PM   #531
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China.
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Old 02-05-2020, 06:49 PM   #532
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https://www.cbc.ca/news/canada/calga...ltngxsCBHKJrfs


Clients invested thousands in this Calgary firm but there's a hitch — it doesn't exist

But in November 2019, seven clients tell CBC News, withdrawals stopped working and communications from the company largely ceased.

"All our withdrawals are still pending to date. We are still able to get into the system and see the investment growth … so we became skeptical, wondering what is really happening?" Mathebula said.

The Reannex Investments website states the company is located on the third floor of the Lancore Building, on 10th Street and 10th Avenue in southwest Calgary.

It's not.

That building is actually home to Alberta Supports (government-provided community services) and staff there said they have never heard of Reannex and, to their knowledge, it has never been located in the building. A spokesperson confirmed Alberta Supports has been leasing space on the third floor since 1991.

Other investors confirmed they had attended investment events in South Africa, and communicated with an investment manager named Nicholas Paul through WhatsApp who they believed was located in Calgary.

That Calgary number was disconnected — but Paul's WhatsApp account tied to the number is still active. CBC News reached out to him via the messaging app but, while the message has been marked as "seen" and Paul has since been online, he did not respond. Paul's photo shows a man, who appears to be in his 30s, posing in front of pop-up plastic igloos and Christmas lights.


The staff listed on the company website also don't seem to exist. Searches of staff members' names like "chief executive officer Sharlok Homes" turn up no results. Homes' photo is a stock photo.
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Old 02-05-2020, 07:40 PM   #533
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Sharlok Homes?
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Old 02-05-2020, 07:59 PM   #534
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Sounds legit.
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Old 02-06-2020, 09:12 AM   #535
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What's the current state of cryptocurrencies now? Did the whole thing blow up in flames?
I don't follow them but seems like the crypto supporters even disappeared from this threads for 6 months+
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Old 02-06-2020, 09:42 AM   #536
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What's the current state of cryptocurrencies now? Did the whole thing blow up in flames?
I don't follow them but seems like the crypto supporters even disappeared from this threads for 6 months+
Bitcoin is at about $9800/USD at this point. It's obviously down significantly from the highs a couple years ago, but not worth zero. I'm not sure how the others are looking right now.
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Old 02-06-2020, 09:47 AM   #537
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Here's an crypto index graph:


https://www.bitwiseinvestments.com/indexes/Bitwise-10
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Old 02-06-2020, 10:07 AM   #538
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It's actually pretty incredible that it's still worth what it is. But, there's still people committed to HODL and others who take advantage of it.

And speaking of crypto scams, MasterCard's CEO says he removed his company from Facebook's Libra experiment because, among other reasons, Facebook would not commit to follow the law.

https://markets.businessinsider.com/...0-2-1028871194
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Old 02-06-2020, 04:14 PM   #539
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What's the current state of cryptocurrencies now? Did the whole thing blow up in flames?
I don't follow them but seems like the crypto supporters even disappeared from this threads for 6 months+
still making money...arguing with you guys is pointless

If you bought a bitcoin Jan 6 you could sell it for about a $3000 profit today (Canadian funds)

not a bad month
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Old 02-06-2020, 04:29 PM   #540
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still making money...arguing with you guys is pointless

If you bought a bitcoin Jan 6 you could sell it for about a $3000 profit today (Canadian funds)

not a bad month
Not looking for an argument, I don't actually follow cryptos at all but have heard very little lately, when it once was very common conversation.

I guess my question is more:
-Are you buying bitcoin Jan 6th because you believe in it's function as a currency?
-Are you buying bitcoin Jan 6th because you believe it can still go up in value for trading purposes.

Anything can be traded and have value to it in that sense, I'd buy and sell dirt if I had a sense people were going to value it higher in a month.
You make money if you buy and sell at the right time, you lose if you buy and sell at the wrong time.

But what I want to know is whether the promise of bitcoin still holds true?
Are we still expecting it to take over major currency transactions and be using it to buy and sell goods on a regular basis?
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