News Salvadorans Claim Bitcoin Is Going Missing From the State-Run Chivo Wallet

[Admin]

Salvadorans claim that Bitcoin is going missing from Chivo Wallet, the official wallet of El Salvador, with no recourse.

Salvadorans Claim Bitcoin Is Going Missing From the State-Run Chivo Wallet : Read more

 

[Deleted member 14196]

Hahahaha. They better get used to it. It’s just another way for crooks to pick your pocket and to use you to do the work for at least part of it

Anyone who thinks crypto is anything special really needs to get a hold of them selves and realize that the true wealth holders in the world will either own it or eventually shut it down. All these little guys thinking that they’re gonna make it big makes me die laughing

It’s nothing but a Ponzi scheme

 

[GM Crypto]

True wealth holders? You mean the people who have been piling in for the last 3 years? lol, they are going to make some stupid announcement that makes all of the plebs like you say "o now its ok", and then you will proceed to buy it.

 

[InvalidError]

State-run crypto wallet developed by a country near the bottom of the human development ranking gets somehow used to steal crypto from people? shocked

Don't make cyber-money a national currency when you don't have the sufficiently skilled and competent software developers and information security scientists/engineers needed to make it work.

 

[sgtdragon]

Hahahaha. They better get used to it. It’s just another way for crooks to pick your pocket and to use you to do the work for at least part of it

Anyone who thinks crypto is anything special really needs to get a hold of them selves and realize that the true wealth holders in the world will either own it or eventually shut it down. All these little guys thinking that they’re gonna make it big makes me die laughing

It’s nothing but a Ponzi scheme

And any central banks FIAT currency isn't?
Social security?

 

[Deleted member 14196]

And any central banks FIAT currency isn't?
Social security?

That’s not my point. My point is those who own the Central Banks aren’t going to allow crypto to go anywhere or do anything and it will always be used as an underworld currency primarily and eventually they will shut it down so it won’t amount to anything

 

[sgtdragon]

The concept of crypto itself isn't a ponzi scheme - it's decentralized money. You are saying they would never allow it to be mainstream. In theory that may be correct, but they would have a hard time enforcing it in a true crisis.

Turkey will provide us with some real world experience - because they officially banned Crypto for goods and services in March, and are eyeing further regulations. Yet bitcoin is trading at an all time high in Turkish Lira. Why?

To protect yourself from a hyperinflation like what is happening in Turkey, with a leader that has no clue about the currency market - the only safe place for the masses will be gold or crypto. You have cities in US with professional shoplifters that don't get arrested and walk in and take up to $950 without anyone doing anything. When a panic eventually happens in a more developed economy, you think people will listen to central bank rules?

Much of the worlds inequality are tied to central bank policies...so I don't think many people on both sides will really be defending them when the next financial crisis hits.

 

[daworstplaya]

I'm sure they can just trace where all that money went .... oh wait.

 

[InvalidError]

I'm sure they can just trace where all that money went .... oh wait.

Depends on what the people who stole it did with it. If they were dumb enough to move the stolen crypto to their own known wallets, then it is easy. If they moved the crypto to nameless wallets created specifically for the heist and abandoned as soon as they are done dumping their crypto into "mixers" to launder it, then it becomes a whole lot more difficult.