Cryptocurrencies Part III - We ran as if to meet the Moon

[The Crypto Guy]

- The guy (white Canadian dude from Nova Scotia) died suddenly and unexpectedly, in India. Alone. Opening an orphanage. Right after he signed a new will.
- His widow says there are no business records involving Quadriga anywhere in their home. She has no idea where any of it may be.
- No trace of the company, no employees, no office, no accounts, nothing.
- Everything is apparently on a laptop but not recoverable.
- The majority of the funds were allegedly locked away in cold storage and nobody knows where this is or where it may be. Or if it even exists.
- Leading up to this, the company was suffering from huge liquidity problems, was in court battles, and claimed to be unable to do business because banks were giving them a hard time.

It really, really looks like the guy stole the money and ran. Or possibly he lost all the money and ran.

Where did he run? To his grave? Cause the guy is dead. There is no fraud, there is nobody running off with millions of dollars.

It was just an idiot who has absolutely no backup in place to access the money if he died. This is why you don't put money on shady exchanges.

 

[waffledave]

Where did he run? To his grave? Cause the guy is dead. There is no fraud, there is nobody running off with millions of dollars.

It was just an idiot who has absolutely no backup in place to access the money if he died. This is why you don't put money on shady exchanges.

Maybe he's dead. Maybe he isn't. The timing sure is interesting.

 

[The Crypto Guy]

Maybe he's dead. Maybe he isn't. The timing sure is interesting.

Indian hospital describes death of QuadrigaCX CEO Gerald Cotten

 

[waffledave]

Indian hospital describes death of QuadrigaCX CEO Gerald Cotten

I'm just pointing out it's a hell of a coincidence that he died suddenly in another country (where it's not exactly crazy that he could pay someone off to go along with the story) after a bunch of funds were moved to cold storage and the company had been struggling with lawsuits and liquidity issues. It wasn't just crypto, there was apparently millions in real currency too.

 

[The Crypto Guy]

I'm just pointing out it's a hell of a coincidence that he died suddenly in another country (where it's not exactly crazy that he could pay someone off to go along with the story) after a bunch of funds were moved to cold storage and the company had been struggling with lawsuits and liquidity issues. It wasn't just crypto, there was apparently millions in real currency too.

That's still highly speculative, and hardly confirms anything like a ponzi scheme.

 

[Do Make Say Think]

I'm just pointing out it's a hell of a coincidence that he died suddenly in another country (where it's not exactly crazy that he could pay someone off to go along with the story) after a bunch of funds were moved to cold storage and the company had been struggling with lawsuits and liquidity issues. It wasn't just crypto, there was apparently millions in real currency too.

See below:

A Ponzi scheme is a form of fraud which lures investors and pays profits to earlier investors by using funds obtained from more recent investors. The victims are led to believe that the profits are coming from product sales or other means, and they remain unaware that other investors are the source of profits. A Ponzi scheme is able to maintain the illusion of a sustainable business as long as there continue to be new investors willing to contribute new funds, and as long as most of the investors do not demand full repayment and are willing to believe in the non-existent assets that they are purported to own.

Not all fraud is a Ponzi scheme. You think this is fraudulent, fair enough, it certainly is very suspicious.

That doesn't make this a Ponzi scheme. Even if this turns out to be a Ponzi scheme, it will be due to new evidence surfacing. Nothing we currently know indicates this was a Ponzi scheme.

 

[waffledave]

Fair enough, to be honest I was not really focused on whether this fit the bill of a traditional ponzi scheme versus just regular old fraud. I still think this who situation stinks.

 

[phisherman]

Where's the guy's body? How do we know the hospital wasn't paid to make that statement?

 

[The Crypto Guy]

Where's the guy's body? How do we know the hospital wasn't paid to make that statement?

I would assume with his family?

 

[What the Faulk]

I think the point is that not every scam is a ponzi/pyramid scheme.

This, and I took the dude to be referring to crypto as a whole based on his previous posts in this thread.

Lots of people coming out of the woodwork over the last year to shit on crypto since it's down and/or they got in at the top of the ridiculously unsustainable run. But one bitcoin is still worth almost $3,900 real dollars. A bunch of people are just mad that they knew about it at $500-$1,000 and didn't jump in until $20,000.

 

[Gardner McKay]

So... been a while. I'm still around and actively trading again. Tons of volume lately. Market cap hasn't moved much. I came across something that I think is going to be the game changer for crypto.

tZERO

It is a platform for institutional investors to get into crypto. They didn't want to touch normal exchanges with a 10 foot pole. It is going to be like Charles Schwab or PWC for crypto. Much like Hashgraph (which I was super lucky to be a part of an investment group) they only opened it up to accredited investors. They are legit and I think that tZERO will be the bridge over from the ICO market to the STO market.

tZERO works closely with Ravencoin, which the CEO of overstock has a big stake in. He also does a lot of work with tZERO. Going to be interesting, that is for sure. My personal belief is this is what actually leads to the flood of money into the crypto space that has been expected for a long time now.

 

[The Crypto Guy]

Expect a very nice bull run starting in April and will likely last a long time. The year+ long bear market completed and hit the bottom....Going to be a good 2019!

 

[tacogeoff]

Expect a very nice bull run starting in April and will likely last a long time. The year+ long bear market completed and hit the bottom....Going to be a good 2019!

thoughts and prayers for you guys this year.

 

[The Crypto Guy]

Here we go Enjoy the ride crypto holders !

 

[Gardner McKay]

Here we go Enjoy the ride crypto holders !

I don't know if this is it but if not I think we are close.

 

[ScottishCanuck]

Volume is encouraging but it's just so unpredictable that I don't think anyone can make any guarantees about extended bull runs. We'll see how long this spike in interest can be sustained.

I'm still not putting anything else in fiat wise. Have a bag of Unibright that I'm feeling alright about. Just leaving everything where it is for the time being.

 

[phisherman]

There could be one more dump after this. If it happens it would be a big one.

 

[Fixed to Ruin]

I think the next move for crypto will be a slow and prolonged (or in other words "boring") grind upwards over years. Not a bad thing if you ask me.

 

[The Crypto Guy]

There could be one more dump after this. If it happens it would be a big one.

Why would be it be "a big one". What signs show that? The market just corrected itself from the huge price increase, was to be expected.

I think the next move for crypto will be a slow and prolonged (or in other words "boring") grind upwards over years. Not a bad thing if you ask me.

That would be great.

 

[phisherman]

Why would be it be "a big one". What signs show that? The market just corrected itself from the huge price increase, was to be expected.

A bottom usually occurs from a very large capitulation. This may have occurred when it dropped to $3100-$3200 but the sentiment doesn't seem to match it. Usually when the capitulation happens most people would be terrified to buy even at the low price.

 

[The Crypto Guy]

A bottom usually occurs from a very large capitulation. This may have occurred when it dropped to $3100-$3200 but the sentiment doesn't seem to match it. Usually when the capitulation happens most people would be terrified to buy even at the low price.

But all signs have pointed that we hit the bottom a couple months back. Sure nothing is ever even close to a guarantee in crypto and it could tank tomorrow, but it's much likely to continue a nice bull run for awhile than a bear run so soon again. Plus too much good news continues to come out of the crypto world but as always there are people who need to spread the fear in it because they will lose lots of money if crypto ever becomes as big as it can.

Already recovering nicely from its correction yesterday.

 

[ScottishCanuck]

But all signs have pointed that we hit the bottom a couple months back. Sure nothing is ever even close to a guarantee in crypto and it could tank tomorrow, but it's much likely to continue a nice bull run for awhile than a bear run so soon again. Plus too much good news continues to come out of the crypto world but as always there are people who need to spread the fear in it because they will lose lots of money if crypto ever becomes as big as it can.

Already recovering nicely from its correction yesterday.

All signs being what? The weekly horoscopes?

As much as I hope it happens, you have no evidence for it.

 

[The Crypto Guy]

All signs being what? The weekly horoscopes?

As much as I hope it happens, you have no evidence for it.

TA and previous cycles.

But like i said nothing with crypto is even a close to a guarantee but that's all we have to work with.

 

[The Crypto Guy]

Still looking good. Rising healthy.

 

[The Crypto Guy]

Up and up we continue to go. All signs for the big breakout in a couple weeks are still on.