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The Everything Bitcoin Thread

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17 hours ago, nuckin_futz said:

One version of the story is that he went to India to open an orphanage and on his honeymoon no less. Yeah that's a major 'yeah right' with an LOL tossed in.

 

My main question is where is his body? If a Canadian national dies overseas isn't the body shipped back to Canada to be buried by his loved ones? Let me guess, he was already cremated and spread in the Ganges? Anyone know where his body is?

 

Why is this story getting so little press? You basically have to go digging to find info despite this probably being one of the biggest Ponzi's in Canadian history.

Where is the mainstream media on this one? You've got scores of people financially wrecked with no where to turn for information. Where is CBC, Global, CTV?

Who knows. This whole thing has to be frustrating and frightening as hell. Where do you go to get help? Who do you talk to? How long will it take to get help? Will you ever get your money back? The extremely slow process of the legal proceedings and lack of information is excruciating. Then there is no compensation for the whole ordeal you went through over the years this will probably take, or the gains lost you could have otherwise had if your money was in a different institution. The latter is almost a big fat zero even if they liquidate all of the personal assets which they first need to prove were purchased with illegally obtained funds. 

Most of the victims don't deserve any of this. Obviously. They are regular working folk like the rest of us. Even if it was a very dangerous and stupid choice to go with an unregulated and unprotected institution. Nobody deserves to get wrecked like that. I suppose the only saving grace at this point is global nuclear war because then your money won't mean anything anyway.

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On 2/14/2019 at 2:50 PM, nuckin_futz said:

One version of the story is that he went to India to open an orphanage and on his honeymoon no less. Yeah that's a major 'yeah right' with an LOL tossed in.

 

My main question is where is his body? If a Canadian national dies overseas isn't the body shipped back to Canada to be buried by his loved ones? Let me guess, he was already cremated and spread in the Ganges? Anyone know where his body is?

 

Why is this story getting so little press? You basically have to go digging to find info despite this probably being one of the biggest Ponzi's in Canadian history.

Where is the mainstream media on this one? You've got scores of people financially wrecked with no where to turn for information. Where is CBC, Global, CTV?

These outlets you just listed have been covering it! CBC has published loads of articles on it, actually. Many of them absolutely horrific, mind you. The best coverage on the matter will not come from these people. Of course it could lead to increased pressure for an investigation, but the best analysis is coming from bitcoin-centred communities and websites that include blockchain analysis and things that CBC would have no idea about.

 

The globe and mail piece linked above is the best 'traditional journalism' read on the subject so far. Primarily because there are reporters in India discussing it - which is big that you have multiple sources confirming their experiences with the situation

 

In that article, it says the wife did return home with body. The body wasn't cremated or even embalmed, so who knows.

 

The article doesn't make his wife look too good, I'm afraid -- my immediate reaction was whether she played a part in his death? Whereas before I was convinced it was a faked death.

 

 I also feel like this "open an orphanage" angle has been tremendously overblown in order to make it read like a conspiracy - the point of the trip was very obviously a celebration of luxury and excess, with a small trip to "open" an orphanage (for all of two hours lol) on the side. It doesn't at all seem unlikely or uncharacteristic for this couple to do that.

Edited by GLASSJAW

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On 2/14/2019 at 2:33 PM, Tre Mac said:

I read that story and found it hard to believe he died due to Crohn's, maybe murdered or he's not even dead but why on earth do you travel to India if you're sick? 

 

because he's a filthy rich man who has traveled around the world on the most luxurious level imaginable 

 

sounds like the health problem was a total freak thing, if not a misdiagnosis... if not malicious. 

 

Quote

 

How hard would it be to fake your death in India if you still have a ton of money left?

 

Not difficult. But (again) in that G&M piece there are so many hospital workers (independent of each other) all colluding with interviewers and authorities. I imagine, actually, it might be difficult to pull that off. How many people were conveniently bought off along the way? The entire hospital?

 

However, if someone just "disappears" in india, I think maybe it would be easier? idk


 

Quote

 

Anyways I remember my friends talking about this and I was a bit jealous to be honest.  I am busting my ass off at work while somebody clicks a few pages on the internet and makes off with god knows what.  I even said, 'yeah as I soon as I invest it'll tank.'  Good thing I didn't. 

 

 

 

bitcoin's price hasn't moved an inch as a result of this news

 

Edited by GLASSJAW

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On 2/3/2019 at 7:54 PM, GLASSJAW said:

if you're at all curious about it and you have netflix, i recommend the movie 'banking on bitcoin' as a decent way to spend 90 minutes 

 

 

 

On 2/13/2019 at 6:24 PM, NucksPatsFan said:

just downloaded it before my flight, thanks!

 

So, it was a great watch. I learned a lot about this industry or sector, whatever you want to call it, that I didn't know before. 

 

Admittedly, I haven't cared for cryptocurrency so I didn't bother reading up on how it works internally, so this was a great watch to gain that education. 

 

Very interesting about "who is Satosho?" 

 

After watching it - My opinion has definitely swayed more towards this is the way the world does need to go (eliminating the untrusted 3rd party central holders ie. banks) but I'm still cautious and that much, much, much more research and policies and laws need to go in to ensure it doesn't open a loophole for random keyboard warriors to fund terrorist activity over seas without any foot print for example.

 

 

I won't be investing any time soon, if ever, but definitely a great watch if you want to learn more. 

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Bitcoin is basically a frenzy money but without actual applications

 

You use actual money to buy it and sell it to have actual money so technically you cannot buy anything with Bitcoin 

 

For me it's nothing more than a pyramid scam. You're buying something inflated artificially because "everybody is buying it so it must be awesome"

 

Then you realise no country actually use it as "de facto" currency and you cannot trade anywhere else...

 

No thanks I stick with Gold...

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9 hours ago, NucksPatsFan said:

 

 

So, it was a great watch. I learned a lot about this industry or sector, whatever you want to call it, that I didn't know before. 

 

Admittedly, I haven't cared for cryptocurrency so I didn't bother reading up on how it works internally, so this was a great watch to gain that education. 

 

Very interesting about "who is Satosho?" 

 

After watching it - My opinion has definitely swayed more towards this is the way the world does need to go (eliminating the untrusted 3rd party central holders ie. banks) but I'm still cautious and that much, much, much more research and policies and laws need to go in to ensure it doesn't open a loophole for random keyboard warriors to fund terrorist activity over seas without any foot print for example.

 

 

I won't be investing any time soon, if ever, but definitely a great watch if you want to learn more. 

The problem here is that it's virtually impossible for regulators to keep up with the technology.

 

While bitcoin itself can be traced (to some extent), there are widely used/accepted "privacy coins" (such as monero) which make it virtually impossible, if not extremely difficult to trace movement in. So if regulators came down too hard on any of this technology, a new tech would just emerge. This is the weird thing about bitcoin and crypto altogether - the cat is already out of the bag, and it's been out for a decade now. There is no going back. The best option here would be for the government to stop creating terrorists abroad :)

 

but either way, glad you enjoyed it and learned a thing or two. next step is throwing $10 in. let us know when that happens ;)

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12 hours ago, GLASSJAW said:

The problem here is that it's virtually impossible for regulators to keep up with the technology.

 

While bitcoin itself can be traced (to some extent), there are widely used/accepted "privacy coins" (such as monero) which make it virtually impossible, if not extremely difficult to trace movement in. So if regulators came down too hard on any of this technology, a new tech would just emerge. This is the weird thing about bitcoin and crypto altogether - the cat is already out of the bag, and it's been out for a decade now. There is no going back. The best option here would be for the government to stop creating terrorists abroad :)

 

but either way, glad you enjoyed it and learned a thing or two. next step is throwing $10 in. let us know when that happens ;)

That'd buy a whole 0.002 of a bit coin? :P 

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14 hours ago, aeromotacanucks said:

Bitcoin is basically a frenzy money but without actual applications

 

You use actual money to buy it and sell it to have actual money so technically you cannot buy anything with Bitcoin 

 

For me it's nothing more than a pyramid scam. You're buying something inflated artificially because "everybody is buying it so it must be awesome"

 

Then you realise no country actually use it as "de facto" currency and you cannot trade anywhere else...

 

No thanks I stick with Gold...

That, and a lot of people buy it to "stick it to the big banks" because now they've circumvented the Rothschilds. Like, nobody here makes that kind of money where they can blow it away on crypto and go "oh well." Very few people can afford the risk that those poor saps with Quadirga suffered. Plus, your money with the bank is insured through third parties and consumer protection agencies up to x amount in case the bank ever goes bust. With Crypto exchanges like Quadriga, your money is insured up to a grand total of zero dollars. 

Edited by Tortorella's Rant

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3 hours ago, Tortorella's Rant said:

That, and a lot of people buy it to "stick it to the big banks" because now they've circumvented the Rothschilds. Like, nobody here makes that kind of money where they can blow it away on crypto and go "oh well." Very few people can afford the risk that those poor saps with Quadirga suffered. Plus, your money with the bank is insured through third parties and consumer protection agencies up to x amount in case the bank ever goes bust. With Crypto exchanges like Quadriga, your money is insured up to a grand total of zero dollars. 

Let's just use the Gold as example 

 

Gold is real, you can touch it, you can weight it and it was used as real currency for CENTURIES so you can actually value it because everyone wants it and it's stable

 

Virtual currencies are just like this, virtual, they don't actually exist, you can't touch it, you can't weight it and nobody use it as currency...

 

Let's assume that tomorrow somebody decides to use those coins from Mario world as currency and guess what it will be possible...

 

Everybody can create currencies the deal is can you use it on real basis? Can you buy a soda or a car with it?

 

Bitcoin is a frenzy and that's it, no insurance, no background and no use and so it's not different from a virtual video game currency...

 

People want be "off the grid" by using bitcoin but they need use the same "grid" to buy bitcoin by using real money. Doesn't sound weird for you?

 

Basically you need real money to buy fake money then to sell it in order to have real money again...

 

So why I would have bitcoin if I can't do anything with it?

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15 minutes ago, aeromotacanucks said:

Let's just use the Gold as example 

 

Gold is real, you can touch it, you can weight it and it was used as real currency for CENTURIES so you can actually value it because everyone wants it and it's stable

 

Virtual currencies are just like this, virtual, they don't actually exist, you can't touch it, you can't weight it and nobody use it as currency...

 

Let's assume that tomorrow somebody decides to use those coins from Mario world as currency and guess what it will be possible...

 

Everybody can create currencies the deal is can you use it on real basis? Can you buy a soda or a car with it?

 

Bitcoin is a frenzy and that's it, no insurance, no background and no use and so it's not different from a virtual video game currency...

 

People want be "off the grid" by using bitcoin but they need use the same "grid" to buy bitcoin by using real money. Doesn't sound weird for you?

 

Basically you need real money to buy fake money then to sell it in order to have real money again...

 

So why I would have bitcoin if I can't do anything with it?

Pretty much what I've been saying. Most people sell their BTC for real CAD/USD. I have a guy on Facebook who does just that then acts as if he's beating the system somehow, someway. You still need the bank for your mortgage, car payment, retirement account, or anything of the sort. Getting ahead? Beating the system? Someone's clearly deceiving themselves. 

  • Haha 1

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16 minutes ago, Tortorella's Rant said:

Pretty much what I've been saying. Most people sell their BTC for real CAD/USD. I have a guy on Facebook who does just that then acts as if he's beating the system somehow, someway. You still need the bank for your mortgage, car payment, retirement account, or anything of the sort. Getting ahead? Beating the system? Someone's clearly deceiving themselves. 

"Beating the system" would be if you could simply migrate fully to Bitcoin and use it as real currency with a different value and interactions...

 

But...

 

A virtual currency you can simply stipulate the value you want

 

That means you can say that a Bitcoin is worth 2 billion dollars or 7 Cows, yes it doesn't make sense at all since 7 cows are not worth 2 billion dollars but since you're dealing with a virtual currency that nobody uses so who gives a damm?

 

People don't realise Bitcoin is a SCAM, a pure simple SCAM

 

They buy because people inflate it and induce other people buy it then you sell your bitcoins before everybody and get a high value for this but at some point with everybody selling bitcoins its value will be reduced to nothing 

 

So the person who sold earlier gets better deals...

 

Sounds pretty much like a Pyramid scam to me...

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