News Crypto Exchange Founder Disappears with $2 Billion

[Olle P]

[Money that can't be traced.]
People should be asking themselves, "Who the fudge benefits from that, and why is it desired?!"

That's pretty darn obvious: Anybody interested in personal integrity should care for having anonymous transactions!
Trcking of purchase patterns is big business today and very valuable information. Why would anybody give that away for free, when it can (and often will) be used against you?

 

[digitalgriffin]

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?

Bitcoin and most crypto currencies by their very nature are designed to circumvent and severely hamper any tracking. And this is why criminals looooove crypto.

Crypto ransomware is one key proof of this. It made it hard to track the hackers who are blackmailing you for crypto

Another proof is places like s**k road where drugs and other illicit goods could be purchased with crypto with no traceability directly from the dealer. You couldn't run a place like that on cash. With a cash network money has to pass through many hands to directly reach the bigwigs. That's a lot of middlemen and delayed time with questionable deliverables on wanted goods.

I often get uncomfortable talking about such things because any person pissed at the world for not getting his "fair share" might be incentivised to try it by my post. But we must address the elephant in the room if we are to fix it. And two, greed suffers to more greed and those whom live by the sword die by it. As s**k road proves, somebody will get sloppy and then a whole group of people will get caught.

The owner of that much dogecoin cannot simply disappear. The wealth is worthless if he can't spend it. And what the hell is he going to spend 2 billion on? That's where drugs dealers get stupid. Living on welfare with no taxable income and driving a new mercedes. Yep he's legit. Sooner or later he will get comfy and stupid and then his body will simply disappear.

 

[InvalidError]

Undoing an unauthorized transaction problems....hmmm that never happens with modern banks!!! Oh wait it does!

I had a fraudulent charge on my credit card from poker stars last year, called the bank to get it reversed, got my money back. With crypto, getting a refund from an unknown entity is practically impossible.

 

[Vyrvelata]

I had a fraudulent charge on my credit card from poker stars last year, called the bank to get it reversed, got my money back. With crypto, getting a refund from an unknown entity is practically impossible.

I live in EU country (not gonna mention it), my friend's father messed up the recipient bank account number (online banking)..... don't know much of a details. it was about 1000EU, from the bank responded "it's his fault".... they cant help and the money are gone. The banking system in the poorer countries works even worse! Also crypto is fairly new and it's constantly improving.

 

[Co BIY]

Not to be ego centric, but the us dollar is the established defacto currency for the world based on the sheer gdp of the usa. (This despite China's vast efforts to take over with the yuan)

If it weren't the usa $ I would choose the swiss franc as the standard as it is the most stable currency in the world. Or possibly the Euro. But the EU is falling apart slowly through bad policy. (Not here to get into politics. Just stating facts that a number of EU countries like Greece are in terrible economic status)

I didn't object to the valuation in US dollars because I reject US hegemony (or in this case "hegemoney" - spelling-error serendipity is fun) .

I actually object to the valuation in any reasonable currency because it implies these e-coin scams have actual value.

Unfortunately I believe the financialization and digitization of much of the actual economy has made it seem as real and as distant as the e-coin system. Therefore it has made the e-coin nonsense seems just as real as the true economy. The problem is they are not the same, even though "playing" them on your device may seem the same.

I believe that the mass-mania supporting these e-coin bubbles is partly based deep-down in some real concerns about coming US inflation . We can't throw away a couple trillion every time there is a "new problem" (Corona - have a trillion, Teacher Unions still don't want to work even with vaccines and the kids in sealed bubble - have a trillion) without inflation eventually.

 

[tod98]

Lost $52,064 trading binary option through a fake binary investment scheme, couldn’t withdraw my investment not to talk of my winnings. I had to hire a refund solution professional spynerdy at gmail and they were good, got my money back.please beware of fake good reviews,these websites must be hiring people to write the good reviews.

 

[tod98]

"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??"

Exactly! most of these scams wouldnt be possible or as efficient if bitcoin could be traced. Lost $52,064 trading binary option through a fake binary investment scheme, couldn’t withdraw my investment not to talk of my winnings. I had to hire a refund solution professional spynerdy at gmail and they were good, got my money back.please beware of fake good reviews,these websites must be hiring people to write the good reviews.