Thought for the day...

nsaspook

Joined Aug 27, 2009
16,330
Question: Would an event like that, where a large pile of cryptocurrency can be proven to be “lost”, have any impact on the value of the remaining crypto?

I don’t mean a psychological impact, I mean a calculable impact like changing the number of shares outstanding for a listed company.
No, as it has no intrinsic value other than The Greater Fool that lost 'real' money. There are likely billions at the current market value lost in the bitcoin blockchain that will never be recovered.
 

nsaspook

Joined Aug 27, 2009
16,330
Did you seriously think you would beat @nsaspook to this one?

Anyone invested in bit coins?

Don't you know he has special AI software running on a battery of computers that do nothing but search the globe for bitcoin stories? :p
I've been running a full bitcoin node for a long time (long before the current price rise and when you could mine on PC hardware) so I do have an interest in bitcoin stories.:D
 

nsaspook

Joined Aug 27, 2009
16,330
What are they going to do, kill you?
Maybe.
https://www.newsbtc.com/2019/02/05/...o-bitcoin-funds-could-it-more-than-a-mistake/
Furthermore, the researchers found that QuadrigaCX used highly deterministic wallets to manage client funds. These wallets would enable the exchange to generate millions of unique bitcoin wallet addresses from a single, original clustered wallet address. Zerononcense claimed that it had recognized one of such grouped addresses with the help of WalletExplorer.com, a service which is supposedly good at “address clustering.”
...
Therefore, it is likely that Quadriga was pitting traders’ positions against each other to fulfill deposit/withdrawal requests.

“QuadrigaCX did not have a designated hot or cold wallet to send the customer their funds,” wrote Zerononcense. “In specific, they were forced to aggregate funds from disparate, disorganized locations in order to ensure that the withdrawal was successful.”

Ethereum Cold Wallets Missing Too
Separate research shared by My Crypto CEO and Founder Taylor Monahan revealed a similar case for Ethereum. She shared QuadrigaCX’s three ether wallet addresses. Two of these wallets made huge withdrawals to addresses associated with other top exchanges such as BitFinex, ShapeShift, and Poloneix. Between 2015 and 2017, Quadriga had made withdrawal worth approx $22 million, adjusted according to ETH/USD rate change.
https://www.ccn.com/wheres-the-miss...rigacxs-fiasco-gets-weirder-with-new-research
Some of the main addresses of QuadrigaCX also reportedly sent outgoing transactions after the death of its CEO Gerald Cotten, which should not be possible if the CEO had full control over all of the firm’s wallets.

There are many parts of the QuadrigaCX narrative that are uncertain and as Kraken CEO Jesse Powell put it, unbelievable.
...
No definitive conclusions can be driven until the local police release its report on the exchange.

But, the details on the wallets or addresses linked to QuadrigaCX which have emerged in the past week have led analysts and investors to become skeptical about the current situation involving the exchange and its loss of $150 million and whether the $150 million existed in the first place.
 

cmartinez

Joined Jan 17, 2007
8,777

nsaspook

Joined Aug 27, 2009
16,330
A sad story of a bear being punished for human stupidity.

https://www.usatoday.com/story/news...-meth-overdose-eaten-bear-smokies/2773644002/
KNOXVILLE, Tenn. – A man whose body was found in the Great Smoky Mountains National Park last year died of a meth overdose before being partially eaten by a bear, an autopsy found.

The body of William Lee Hill Jr., 30, of Louisville, Tenn., was discovered in a wooded area off Rich Mountain Road in Townsend on Sept. 11 — four days after he became separated from a friend while the pair were searching for ginseng in the park.

After searchers found an adult black bear scavenging the body, the animal stayed in the area and exhibited aggressive behavior for hours.
...
The bear evaded death until Sept. 16, when park rangers fatally shot the animal.
...
The autopsy of Hill's body, performed at the Knox County Regional Forensic Center, revealed "extensive postmortem animal predation," but found no evidence he was attacked by the bear while he was alive, the autopsy report says.

According to the report, Hill initially had to be identified through his personal belongings and tattoos, which included a skull and crossbones with the inscription "AC/DC," and a Confederate battle flag bearing the words, "IT'S A REDNEK THING!"
 

AlbertHall

Joined Jun 4, 2014
12,626
Notice that one thing he did was to push the nose/skid of the helicopter into the snow. That drastically increases the stability. But those rotors were definitely close to the snow -- though there is some forgiveness there as long as it's not ice packed.
But there was no snow blowing around either?
 

nsaspook

Joined Aug 27, 2009
16,330
https://www.scmp.com/news/china/soc...tware-chief-jailed-after-finding-way-withdraw
Qin Qisheng, 43, a former manager in Huaxia Bank’s technology development centre in Beijing, spotted a loophole in the bank’s core operating system that meant cash withdrawals made around midnight were not recorded.

The bank accepted his explanation that he had simply been trying to test its internal security and the cash was just resting in his own account before he returned it to his employers.
We can't have sleepy money.
 
Top