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Author Topic: Will cryptocurrencies like Bitcoin ever gain mass adoption?  (Read 43873 times)

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #330 on: June 25, 2019, 04:40:26 PM »
The founder and CEO of now defunct QuadrigaCX Gerald Cotton used clients funds for private ends, reported the firms bankruptcy trustee Ernst & Young Inc. More specifically, Cotton, who died in mysterious circumstances last year, used customers funds to trade for his own account on other cryptocurrency exchanges.

QuadrigaCX, which was Canada's biggest cryptocurrency exchange, ceased operations this year. The company filed for protection from creditors in January, and was declared bankrupt in mid-April, owing customers $190 million worth of cryptocurrency and fiat.

Significant volumes of cryptocurrency were transferred off platform outside Quadriga to competitor exchanges into personal accounts controlled by Mr. Cotten, Ernst & Young Ernst and Young outlined outlined in the report. It appears that User Cryptocurrency was traded on these exchanges and in some circumstances used as security for a margin trading account established by Mr. Cotten.

Are authorities sure this guy really is dead?


Send me your fiat currencies and I will send you very unique numbers, filled to the brink with hot air, with my personal signature; once I am dead, they will become rare items and quadrupled in value. I promise and swear, to all those cons who have come before me!  ;)


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HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #331 on: July 03, 2019, 04:51:26 PM »
Another day, another massive cryptocurrency exchange scam - Bitsane, an Ireland based crypto exchange turned out to be a scam, after it virtually disappeared together with the assets of some 246 000 registered users.


Bitsane users started to have problems with their withdraw requests as early as May, when Bitsanes support team responded with e-mails, explaining that all withdraws are temporarily disabled due to technical reasons.

Now their social media accounts are disabled and all Bitsane users e-mails are being returned as undeliverable.

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #332 on: July 04, 2019, 01:01:47 AM »
Another day, another massive cryptocurrency exchange scam - Bitsane, an Ireland based crypto exchange turned out to be a scam, after it virtually disappeared together with the assets of some 246 000 registered users.


Bitsane users started to have problems with their withdraw requests as early as May, when Bitsanes support team responded with e-mails, explaining that all withdraws are temporarily disabled due to technical reasons.

Now their social media accounts are disabled and all Bitsane users e-mails are being returned as undeliverable.

Should we have or show any sympathy for idiots who send their money to anyone who can open a storefront on the Internet and issue "hot air numbers"? In fact, I would insist that we don't waste public funds investigating this and other thefts like it because such "investors" place their money to purchase items made to evade accountability to our taxation system, so why should law-abiding taxpayers be stuck with their bill?  ;)


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #333 on: July 04, 2019, 03:57:05 PM »
I just don't get how people fall for these scams again and again.

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #334 on: July 10, 2019, 04:00:21 PM »
The FCA just approved its first cryptocurrency hedge fund.
How, just how, is this happening in the light of all the scams in the past year?

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #335 on: July 11, 2019, 05:21:53 PM »
My bragging rights; "Ban Bitcoin? What will they think of next?"

Many moons ago, I set out a number of reasons why cryptocurrencies will not gain mass adoption, what follows is one of such reasons. As you will read in this article, the US,  not wanting to lose its global control, through its currency dominance, is now moving to ban not only BTC but all cryptocurrencies!


https://medium.com/swlh/ban-bitcoin-what-will-they-think-of-next-9eeeef8f57ae

"He who controls the water dam controls the valley below."  ;)

Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline oportunis

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #336 on: July 11, 2019, 05:28:15 PM »
Instead, they will regulate it  :)

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #337 on: July 11, 2019, 06:42:02 PM »
Instead, they will regulate it  :)

Lol... :D.

I said, "He who controls the water dam controls the valley below." I didn't say, "He who controls the air controls what you breath." Americans aren't that powerful. Unless they can regulate all Internet traffic, including the Dark Web, "possibly", they might regulate, cryptos. Even the bold move to ban them is questionable, given the nature of the beast but "banning" cryptos will most probably be though banning crypto exchanges. We will see what happens to the price of BTC, once such legislation comes into play: Once the "peddlers" of cryptos cannot advertise their wares to the gullible, cryptos will be a thing of the past. That is not to say that digital currencies will disappear as long as governments have control of the "printing press" and all such currencies are accounted for and "yes", regulated. Now we are down to splitting hairs as to what will constitute Cryptos as per definition and digital currencies.


Regards,
HumbleTrader
« Last Edit: July 11, 2019, 06:44:49 PM by Humble Trader's Fx »
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline Humble Trader's Fx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #338 on: July 12, 2019, 02:31:52 PM »
Did you say, "Cryptos via blockchain"?

A Cryptocurrency Without a Blockchain Has Been Built to Outperform Bitcoin:

Now we are on to something...more "hot air"! When will they ever learn?

https://www.technologyreview.com/s/609771/a-cryptocurrency-without-a-blockchain-has-been-built-to-outperform-bitcoin/


Line up, and take a "number", may be contaminated with some alpha letters and lots of BS.


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline oportunis

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #339 on: July 12, 2019, 02:59:46 PM »
IOTA is old and also one of the altcoins that I own. It is a sort of blockchain-based because computers are also things so they could fit in the IOT. And I also wrote that many better solutions other than BTC exist.

Offline Arsssele

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #340 on: July 19, 2019, 09:52:46 AM »
This move from FCA was inevitable. I am expecting similar moves from other countries also. There is nothing wrong with concept of crypto currencies. The problem lays with peoples intentions to scam other people. There is no reason why crypto hedge fund would not be legal business like any other

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #341 on: July 23, 2019, 04:35:38 PM »
Crypto coins like Libra the Facebook Inc.s newly proposed digital token, deserve special attention by central banks and supervisors, Bundesbank said in a statement.

Such projects might have a sustainable and significant effect on the financial system and the central banks, the institution said in its monthly report on Monday.

So far, important technical, organizational and regulatory questions about the proceedings of the Libra consortium are still open. Considerations of the potential effects are therefore speculative. At the same time, it seems appropriate that supervisory bodies and central banks closely watch and asses the plans. Innovations that increase wealth and reduce transaction costs should be supported. But important goals like monetary and financial stability and payment security must not be compromised, Bundesbank noted.


Offline drunkfx

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #342 on: July 24, 2019, 05:27:01 PM »
This move from FCA was inevitable. I am expecting similar moves from other countries also. There is nothing wrong with concept of crypto currencies. The problem lays with peoples intentions to scam other people. There is no reason why crypto hedge fund would not be legal business like any other

Does it also mean that trading cryptocurrencies with FCA regulated brokers will be restricted?

Online Eliza Abrams

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #343 on: July 30, 2019, 03:58:23 PM »
Federal agents in the state of New York have arrested the principal of a crypto currency escrow company Volantis for allegedly stealing over 7 million USD from two client companies.

US Justice Department says Jon Barry Thompson has scammed two client companies taking over 7 million USD by making false representations about Volantis Bitcoin transaction service.

According to the announcement of the federal authorities Thompson offered a service for low risk crypto settlements by acting as a mutual custodian for two transacting parties, but allegedly used his company as a cover to steal the custodied money.

Offline Marcusfx12

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Re: Will cryptocurrencies like Bitcoin ever gain mass adoption?
« Reply #344 on: July 30, 2019, 09:37:40 PM »
I think that little by little they will get it, somehow the world begins to accept it at a slow pace but that does not seem to falter.

 

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