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    #32
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    JJJJNR wrote: »
    Johnny I bet your a doge millionaire.

    I follow the creator on Twitter - Jackson Palmer. He’s a good guy to follow about the space. On the sceptic side of the debate, but has great insights. Doesn’t own any crypto - even Doge.


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    #33
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Anyone for BTT (Bittorrent) nice increase since last week might be FOMO though..


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    #34
    JohnnyFlash
    Registered Users Posts: 7,055 ✭✭✭JohnnyFlash


    I’ve been reading about the Quadriga CX fiasco. Canada’s largest exchange is now insolvent after the founder supposedly died in India, and was the only person who had the passwords to access the cold storage wallets where the majority of the crypto is stored. It’s a great story in general: a will changed 2 weeks before his death, frozen bank accounts, cryptonerdsperforming analysis of the blockchain to verify that bitcoins were ever actually being bought when they handed over FIAT etc.

    If 190million dollars of bitcoin are now in a cold wallet that can never be retrieved then shouldn’t that have a positive impact on price? They are gone from the total pool forever. So why is the price continuing to go down? I know liquidity is razor thin out there, but surely this entire cycle down from 6.5k to 3.3k isn’t a slow bleed.


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    #35
    Tinder Surprise
    Registered Users Posts: 1,462 ✭✭✭Tinder Surprise


    JohnnyFlash wrote: »
    I’ve been reading about the Quadriga CX fiasco. Canada’s largest exchange is now insolvent after the founder supposedly died in India, and was the only person who had the passwords to access the cold storage wallets where the majority of the crypto is stored. It’s a great story in general: a will changed 2 weeks before his death, frozen bank accounts, cryptonerdsperforming analysis of the blockchain to verify that bitcoins were ever actually being bought when they handed over FIAT etc.

    If 190million dollars of bitcoin are now in a cold wallet that can never be retrieved then shouldn’t that have a positive impact on price? They are gone from the total pool forever. So why is the price continuing to go down? I know liquidity is razor thin out there, but surely this entire cycle down from 6.5k to 3.3k isn’t a slow bleed.

    There is a bit more to it..

    Now alleged the owner was trading under a false name as had previous convictions for fraudulent activity

    Also some of the cold wallet addresses associated with him have activity on them post his death and the ones allegedly associated with the lost keys would show he was insolvent as insufficient funds.

    this has a lot more legs


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    #36
    grindle
    Registered Users Posts: 6,026 ✭✭✭grindle


    JohnnyFlash wrote: »
    If 190million dollars of bitcoin are now in a cold wallet that can never be retrieved then shouldn’t that have a positive impact on price? They are gone from the total pool forever. So why is the price continuing to go down? I know liquidity is razor thin out there, but surely this entire cycle down from 6.5k to 3.3k isn’t a slow bleed.

    $145m ($190m CAD) is less than 0.25% of the notional circulating supply of Bitcoin, I wouldn't expect that to have much effect unless himself or his accomplices started selling it ("from beyond the grave"). More likely that shorters would capitalise on potential overblown panic from such a small amount being "lost"


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    #37
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Did any of you buy BTT? I made a tidy profit before it dumped yesterday afternoon! I was hoping we could use this thread for trading tips...


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    #38
    unkel
    Registered Users Posts: 64,762 ✭✭✭✭unkel


    Tinder Surprise wrote: »
    some of the cold wallet addresses associated with him have activity on them post his death

    Never mind a Lambo, I'm gonna buy me some of that immortality :eek:


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    #39
    Truckermal
    Registered Users Posts: 6,048 ✭✭✭Truckermal


    Binance coin doing really well for the last few weeks! Definitely worth a punt imo..


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