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Old 05-14-2020, 08:41 AM   #621
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Facebook is the wrong company to do a centralized cryptocurrency, I could see PayPal pulling it off maybe a central bank from a country like Canada or New Zealand, I could also see the EU pulling it off.

More then likely if it did happen, it's be a new player though.



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Old 05-14-2020, 08:53 AM   #622
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Facebook is the wrong company for anything I agree, but they had some major, legitimate players backing them - until Facebook did what Facebook does.

I'm a little surprised myself that no nation's central bank has tried creating a digital version of their currency, but doing so flies in the face of one of the central beliefs of the proponents of cryptocurrencies: a rabid distrust of central banks and regulated currencies.
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Old 05-14-2020, 09:06 AM   #623
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I believe some are looking at it, Canada and the UK both were looking at creating one (independently). I believe Canada started, who knows where that project is at though.

There would also have to be some sort of ageing of the data in whatever is accepted, the blockchain needs to truncate at some point. Major corporations aren't going to accept any currency that keeps a transaction record forever. As a VP of one of the major FinServs said to me a few years ago "I don't want any data I don't need, and the second I am not required to have the data that I need, I want it gone."

As for those who distrust central banks, well, they will never be happy with any currency that can get true global adoption. Even Bitcoin, for the most part, has lost them to coins that try and obfuscate the transactions.
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Old 06-11-2020, 03:36 PM   #624
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https://www.cbc.ca/news/business/osc...tten-1.5607990

The Quadriga cryptocurrency exchange that saw millions of dollars disappear just as its founder died was a "fraud" and Ponzi scheme, according to the Ontario Securities Commission.

The regulator said Thursday that Vancouver-based Quadriga's late founder Gerald Cotten committed fraud by opening accounts under aliases and crediting himself with fictitious currency and crypto asset balances, which he traded with unsuspecting clients.

The OSC spent 10 months analyzing trading and blockchain data, interviewing key witnesses, collaborating with overseas regulatory bodies and using third-party and bank information to reconstruct what was going on at Quadriga in the months leading up to 30-year-old Cotten's death.

On Thursday, the OSC attributed about $115 million of the $169 million clients lost to Cotten's "fraudulent" trading.

Another $28 million was lost when Cotten used client assets on three external crypto asset trading platforms without authorization or disclosure.

The OSC said he also misappropriated millions in client assets to fund his "lavish" lifestyle and because he was in sole control of the company ever since 2016, he "ran the business as he saw fit, with no proper system of internal oversight or controls or proper books and records."

By the time the OSC started investigating, over 76,000 clients — about 40 per cent of them Ontarians — were owed a combined $215 million.

"OSC Staff would likely have pursued an enforcement action against Cotten and Quadriga," the agency wrote in its report.

"However, this is not practical given that Cotten is deceased and Quadriga is bankrupt, with its assets subject to a court-supervised distribution process."
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Old 10-31-2020, 02:57 AM   #625
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So BTC passed $18,000 Canadian today
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Old 11-02-2020, 12:20 PM   #626
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Is that the all time high?
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Old 11-02-2020, 12:26 PM   #627
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Quote:
Originally Posted by Winsor_Pilates View Post
Is that the all time high?
No, It's been floating around 13k USD for the past few months. So about 7k off still from the 20k highs.

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Old 11-02-2020, 12:26 PM   #628
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$19,783 USD was the all time high...so BTC was over 20k Canadian. All time highs are coming though IMO
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Old 11-02-2020, 01:31 PM   #629
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It is just a matter of time until banks start buying it up if they already aren't.
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Old 11-05-2020, 02:06 PM   #630
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Up to $19,700 CDN today.
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