QuadrigaCX Founder Dies and Customers Lose Access to Their Crypto Investments

motomonkey

[H]ard|Gawd
Joined
Jan 17, 2009
Messages
1,461
Death by accidentally causes means insurance gets involved. Losses will likely be covered there, at least to some degree. Unless they were operating a 100 million dollar business with no insurance in which they were idiots.
Which involves the banks how? And it’s highly unlikely Crypto business losses would be insured. The investors could sue to attempt to recoup losses, but it’s highly unlikely his personal life insurance policy would cover that loss anyway.
 

pillagenburn

[H]ard|Gawd
Joined
Oct 3, 2006
Messages
1,098
I said it in another thread and I'll say it here - being in crypto is like being on a rollercoaster that never underwent OSHA inspection. You might live through the ride.... or you might get launched into the parking lot when your seatbelt fails.
 

awawa

n00b
Joined
Jan 24, 2019
Messages
29
I said it in another thread and I'll say it here - being in crypto is like being on a rollercoaster that never underwent OSHA inspection. You might live through the ride.... or you might get launched into the parking lot when your seatbelt fails.
That won't prevent the n=1 reports (as in "I did it and I came out just fine!!!11!!11!") from piling up.

It's all fun and games until someone loses an eye.
 

TorxT3D

Gawd
Joined
Apr 30, 2006
Messages
649
super elaborate ponzi pyramid scheme, crypto will go down in history as first in, first out with sucker's money...
i suspect cryptopia is going through the same thing right now.

the only losers of these "exchanges" are the people who participated by buying and storing coins there.
all this will either push everyone to use an offline storage for their coins, or convince everyone that crypto really is a dead end but not for the ones that got in first.
 

pillagenburn

[H]ard|Gawd
Joined
Oct 3, 2006
Messages
1,098
super elaborate ponzi pyramid scheme, crypto will go down in history as first in, first out with sucker's money...
i suspect cryptopia is going through the same thing right now.

the only losers of these "exchanges" are the people who participated by buying and storing coins there.
all this will either push everyone to use an offline storage for their coins, or convince everyone that crypto really is a dead end but not for the ones that got in first.
IMO I don't think that crypto will go down - I think that the (very few) truly altruistic devs will ultimately come together when they realize that corruption is going to kill their creation and do something about it. Look to decentralized exchanges or other forms of P2P trading and things like that.
 
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