Digital Currencies - Bitcoin and its siblings

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RTH10260
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Re: Digital Currencies - Bitcoin and its siblings

#76

Post by RTH10260 » Tue Mar 26, 2019 6:06 pm

Criminal Past Haunts Surviving Founder of Troubled Crypto Exchange
By Doug Alexander and Matt Robinson
March 19, 2019, 10:00 AM GMT+1

Records show Michael Patryn changed name twice in five years
Says split with crypto exchange’s late CEO was over listing


His crimes: identity theft related to a bank-and-credit card scam. His sentence: 18 months in U.S. federal prison and, later, deportation to Canada.

Once there, Omar Dhanani underwent a remarkable transformation -- into a new identity and the wild world of cryptocurrencies.

Dhanani, now known as Michael Patryn, has emerged as an enigmatic figure in the strange case of Quadriga Fintech Solutions Corp., the digital exchange owner that hasn’t been able to find C$260 million ($195 million) of clients’ cash and cryptocurrencies. Patryn co-founded Quadriga five years ago with the late Gerry Cotten, whose sudden death in December at age 30 left the Vancouver-based firm in shambles.

Patryn denied he was Dhanani in a Feb. 8 report in Canada’s Globe and Mail newspaper and disputed a subsequent report linking him to a criminal past. But Canadian records obtained by Bloomberg News confirm he legally changed his name -- twice: in 2003 and in 2008.

The revelation adds a new layer to the mystery surrounding Quadriga, whose closure in January left 115,000 clients wondering if they’ll ever get their money back. Cotten ran the operation mostly from his laptop, so his death while traveling in India threw the business into disarray. The firm has been under creditor protection since February, with Ernst & Young working to unravel the firm’s dealings. Digital storage accounts used by Quadriga to hold Bitcoin for clients had been empty for months before the CEO’s death, according to E&Y.


https://www.bloomberg.com/news/articles ... mes-emerge

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Notorial Dissent
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Re: Digital Currencies - Bitcoin and its siblings

#77

Post by Notorial Dissent » Tue Mar 26, 2019 11:32 pm

There's a reason they don't let felons work for banks and other sensitive professions.
The fact that you sincerely and wholeheartedly believe that the “Law of Gravity” is unconstitutional and a violation of your sovereign rights, does not absolve you of adherence to it.

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Suranis
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Re: Digital Currencies - Bitcoin and its siblings

#78

Post by Suranis » Wed Mar 27, 2019 12:20 am

Thats ok, as its impossible to be a fraudster with Crypto!
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tek
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Re: Digital Currencies - Bitcoin and its siblings

#79

Post by tek » Thu Apr 18, 2019 4:01 pm

Good article (with no technical gibberish) about how Blockchain works: https://queue.acm.org/detail.cfm?id=3305265
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RTH10260
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Re: Digital Currencies - Bitcoin and its siblings

#80

Post by RTH10260 » Tue May 14, 2019 2:37 pm

technically challengend ?
US Rep Sherman Calls for Crypto Ban, Says It Threatens to Diminish American Power

United States Congressman Brad Sherman (D-CA) has called on colleagues to outlaw cryptocurrencies, saying they threaten to disempower American foreign policy and diminish the rule of law.

Crypto-oriented non-profit Coin Center tweeted the remarks of the congressman, a Democratic representative for California's 30th congressional district, on May 9.

In his comments, Rep. Sherman said that lawmakers must act preemptively to impede the threat posed by cryptocurrencies and thus outlaw their purchase by American citizens. Crypto’s threat, he claimed, forebodes no less than a shake-up of America’s geopolitical influence due to its potential diminishing of the power of its sovereign currency:

“An awful lot of our international power stems from the fact that the dollar is the standard unit of international finance and transactions [...] it is the announced purpose of the supporters of cryptocurrencies to take that power away from us.”

To illustrate the dollar’s current hegemony, Sherman noted that in many key global markets such as oil, clearing via the New York Federal Reserve remains critical for major transactions.

The congressman continued to outline the purportedly negative impact of cryptocurrencies should they gain traction as a global unit of value, stating that an extra-national, distributed digital currency would:

“Put us in the position where the significant sanctions we have on Iran, for example, would become irrelevant.”


https://cointelegraph.com/news/us-rep-s ... ican-power

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neeneko
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Re: Digital Currencies - Bitcoin and its siblings

#81

Post by neeneko » Tue May 14, 2019 3:35 pm

RTH10260 wrote:
Tue May 14, 2019 2:37 pm
technically challengend ?
I wouldn't say technically challenged, just jumping the gun by a wide margin. If the wildest dreams to cryptocurrency supporters came to pass then concerns would not be completely fantastic.

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