Turkish crypto exchange goes bust, $2 billion vanishes into thin air.
Crypto Exchange Founder Disappears with $2 Billion : Read more
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The first of many I believe. I think it is wrong to quote the value of these "coins" in terms of US dollars or Euros or any other traditional currency.
How about "4 Billion in Dogecoins vanish along with Turkish exchange founder"
"Houses of Cards" at least have a physical component.
Anybody who thinks using a Turkish exchange is a good idea gets what they get. You need some common sense to play this game. It says so right in the rules on the back of the box.
The first of many I believe. I think it is wrong to quote the value of these "coins" in terms of US dollars or Euros or any other traditional currency.
How about "4 Billion in Dogecoins vanish along with Turkish exchange founder"
"Houses of Cards" at least have a physical component.
Lmfao!Surely this should be in the "entertainment" section
You put your money in pyramid scheme with no credible investment guarantees or protections of any sort, expect to get conned. This isn't the first time that crypto exchange operators have raided the bank and it won't be the last either.
Unless of course you live in Turkey, for example, and choose a mid-sized local provider. In which case it would be a sound decision.Anybody who thinks using a Turkish exchange is a good idea gets what they get.
When are the Law Enforcement agencies going to start treating ALL crypto currencies as what they are, a money laundering scheme. All they have to do is just announce that all digital currencies are going to be investigated as a criminal enterprise and no one would take them as real money thus rendering them what they are really worth...NothingTurkish crypto exchange goes bust, $2 billion vanishes into thin air.
Crypto Exchange Founder Disappears with $2 Billion : Read more
They will, just need to wait for governments to try taxing crypto and realize that it is easier said than done since people can own any number of anonymous wallets and have multiple hard to trace ways of cashing out anywhere in the world.When are the Law Enforcement agencies going to start treating ALL crypto currencies as what they are, a money laundering scheme.
Surely this should be in the "entertainment" section
I agree. This is indeed not the first time and during the last crypto surge, there were actually a few cases that's similar to this. The saying, easy come easy go, applies here. Crypto currencies are loosely governed and so not surprising the risk of losing all of it is also very high.You put your money in pyramid scheme with no credible investment guarantees or protections of any sort, expect to get conned. This isn't the first time that crypto exchange operators have raided the bank and it won't be the last either.
Ok, I keep reading where Bitcoin is being used for this illegal transaction and that illegal transaction, and it brings up a question. Doesn't all transactions become a part of the blockchain? Wouldn't this make any bitcoin used in an illegal transaction become evidence against those involved?Turkish crypto exchange goes bust, $2 billion vanishes into thin air.
Crypto Exchange Founder Disappears with $2 Billion : Read more
The main problem is attaching names to crypto wallets. Yes, the block chain is fully traceable but you can easily create any number of burner crypto wallets with no need to provide any identification. Unless you can put names on every wallet between wallets criminal payments were made to and wherever someone attempted to cash out such as by buying a shiny new Model X, you can have plausible deniability.Doesn't all transactions become a part of the blockchain? Wouldn't this make any bitcoin used in an illegal transaction become evidence against those involved?
"I want a currency where the government can't see it, track it, or tax it!"
"Done!"
"Hey, somebody robbed me! Why isn't anyone doing anything about it??"
People should be asking themselves, "Who the fudge benefits from that, and why is it desired?!""I want a currency where the government can't see it, track it, or tax it!"
Blockchain is the future, huh?"Done!"
"Hey, somebody robbed me! Why isn't anyone doing anything about it??"
They will, just need to wait for governments to try taxing crypto and realize that it is easier said than done since people can own any number of anonymous wallets and have multiple hard to trace ways of cashing out anywhere in the world.
Other reasons why I think crypto will inevitably fail are how easy it is to lose crypto wallets, how it is effectively impossible to recover them once lost and how there is no practical way of undoing an unauthorized transaction should any of your wallets get compromised.
The first of many I believe. I think it is wrong to quote the value of these "coins" in terms of US dollars or Euros or any other traditional currency.
How about "4 Billion in Dogecoins vanish along with Turkish exchange founder"
"Houses of Cards" at least have a physical component.