€100 of Bitcoin in 2010 = €70m today

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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
bimboman wrote:My point is you'll need USD or a currency equivalent .... You don't view your self as having lost money in the last week, but in your eventual plan of being long BTC you have, the book value has halved in any real trading terms you've lost money.
The largest part (+80%) of my portfolio was bought at $350 - $600. The price of Bitcoin on this date one year ago was $1017. I bought the bulk of my XRP holdings at 0.06c

Great, you are missing my point, if you sold all of it at $17,000 and bought them back today you'd have made a big profit. You seem to miss that traditional investments have their returns measuresd periodically against a new set price , if you don't do that performance isn't correctly measured.

As I've said to you before if you've a few million in coins sell some and buy real,world stuff with it.
I did that before. There isn't really much that I can buy that will make me happier.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
bimboman wrote:
sorCrer wrote:
bimboman wrote:My point is you'll need USD or a currency equivalent .... You don't view your self as having lost money in the last week, but in your eventual plan of being long BTC you have, the book value has halved in any real trading terms you've lost money.
The largest part (+80%) of my portfolio was bought at $350 - $600. The price of Bitcoin on this date one year ago was $1017. I bought the bulk of my XRP holdings at 0.06c

Great, you are missing my point, if you sold all of it at $17,000 and bought them back today you'd have made a big profit. You seem to miss that traditional investments have their returns measuresd periodically against a new set price , if you don't do that performance isn't correctly measured.

As I've said to you before if you've a few million in coins sell some and buy real,world stuff with it.
I did that before. There isn't really much that I can buy that will make me happier.
If you've got enough for your lifestyle and old age right now then why not. If you're trading though you need to sell into these dips if you can really see them coming. You will get more points.
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

goeagles wrote:
bimboman wrote:
sorCrer wrote:
bimboman wrote:My point is you'll need USD or a currency equivalent .... You don't view your self as having lost money in the last week, but in your eventual plan of being long BTC you have, the book value has halved in any real trading terms you've lost money.
The largest part (+80%) of my portfolio was bought at $350 - $600. The price of Bitcoin on this date one year ago was $1017. I bought the bulk of my XRP holdings at 0.06c

Great, you are missing my point, if you sold all of it at $17,000 and bought them back today you'd have made a big profit. You seem to miss that traditional investments have their returns measuresd periodically against a new set price , if you don't do that performance isn't correctly measured.

As I've said to you before if you've a few million in coins sell some and buy real,world stuff with it.
Roughly in agreement with you on this one insofar as that the value of a currency is only worth what you can buy with it. Of course if the USD tanked and I was able to buy less with the same amount of USD as previously, that would be similar. If I'm long-term bullish on anything, whether it's USD, Bitcoin, houses or even some random collectible, my goal would be to increase my holdings of that asset or asset class.

Long term bullish is great but if you're trading with any aim to profit then selling into dips and buying back is standard. Unless you just keep going longer as it falls which makes sense if you believe in an eventual $million Bitcoin.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

bimboman wrote:
goeagles wrote:
bimboman wrote:
sorCrer wrote:
bimboman wrote:My point is you'll need USD or a currency equivalent .... You don't view your self as having lost money in the last week, but in your eventual plan of being long BTC you have, the book value has halved in any real trading terms you've lost money.
The largest part (+80%) of my portfolio was bought at $350 - $600. The price of Bitcoin on this date one year ago was $1017. I bought the bulk of my XRP holdings at 0.06c

Great, you are missing my point, if you sold all of it at $17,000 and bought them back today you'd have made a big profit. You seem to miss that traditional investments have their returns measuresd periodically against a new set price , if you don't do that performance isn't correctly measured.

As I've said to you before if you've a few million in coins sell some and buy real,world stuff with it.
Roughly in agreement with you on this one insofar as that the value of a currency is only worth what you can buy with it. Of course if the USD tanked and I was able to buy less with the same amount of USD as previously, that would be similar. If I'm long-term bullish on anything, whether it's USD, Bitcoin, houses or even some random collectible, my goal would be to increase my holdings of that asset or asset class.

Long term bullish is great but if you're trading with any aim to profit then selling into dips and buying back is standard. Unless you just keep going longer as it falls which makes sense if you believe in an eventual $million Bitcoin.
Agreed.
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

Comfortably Smug
‏ @ComfortablySmug
2m2 minutes ago

Pretty obvious why stocks are down.

After bitcoin's collapse, the machines were enraged humanity rejected their robot money. They wanted revenge, so they told the algorithms to sell.

And now, the War Against the Robots, begins.
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sewa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sewa »

The talk on here is very reminiscent of the chartists. They pretend real world events do not matter. Real world events like individual countries cracking down on coins / exchanges, the tax man getting real interested in breaking peoples balls, hundreds of millions being robbed online etc. No, let's look at a nice graph guys, ignore the real world, look I made that line red and that arrow I added is pointing up
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Cartman »

The drop on the stockmarket was something else yesterday
S&P futures intra-day high was about 2762. It's now 2537
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

sewa wrote:The talk on here is very reminiscent of the chartists. They pretend real world events do not matter. Real world events like individual countries cracking down on coins / exchanges, the tax man getting real interested in breaking peoples balls, hundreds of millions being robbed online etc. No, let's look at a nice graph guys, ignore the real world, look I made that line red and that arrow I added is pointing up
Really? Who is claiming real world events don’t matter or effect the market? Where were these statements posted on this thread? You come to that conclusion because I posted a chart. What exactly are you trying to contribute?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

The chairman of the U.S. Commodity Futures Trading Commission (CFTC) has spoken of the need for balance and a "do no harm" approach when regulating cryptocurrencies.

In a written testimony presented to the Senate Banking Committee today, J. Christopher Giancarlo said that in this "new digital era" for the financial markets, cryptocurrencies have brought "paradigm shift" in how the world views payments and financial processes, and that ignoring such innovation "will not make them go away, nor is it a responsible regulatory response."

Giancarlo continued:

"'Do no harm' was unquestionably the right approach to development of the Internet. Similarly, I believe that 'do no harm' is the right overarching approach for distributed ledger technology. ... With the proper balance of sound policy, regulatory oversight and private sector innovation, new technologies will allow American markets to evolve in responsible ways and continue to grow our economy and increase prosperity."

That's not to say the CFTC will sit back and do nothing, however. The commission chair spelled out how his agency has previously taken civil enforcement actions against several "virtual currency Ponzi schemes," including My Big Coin Pay Inc, The Entrepreneurs Headquarters Limited and Coin Drop Markets.

These actions confirm, he said, that the CFTC, in conjunction with the SEC and other financial enforcement agencies, will protect investors and "aggressively prosecute" cryptocurrency schemes that engage in fraud and manipulation.
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The Sun God
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Re: €100 of Bitcoin in 2010 = €70m today

Post by The Sun God »

sewa wrote:The talk on here is very reminiscent of the chartists. They pretend real world events do not matter. Real world events like individual countries cracking down on coins / exchanges, the tax man getting real interested in breaking peoples balls, hundreds of millions being robbed online etc. No, let's look at a nice graph guys, ignore the real world, look I made that line red and that arrow I added is pointing up
Why do you insist in commenting on areas that you are obviously clueless about. You come across rather silly. What perimeters, for example , would you think that algorithm traders might programme into their systems without looking at moving averages or support and resistance levels. Relative strength indicators and Stochastic indicators. All these signals help give a Fundamental trader an insight into projected price patterns and trends and only a fool ignores them.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Rumham »

Where is this headed now, down to $4,000 or lower?
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Rumham »

sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
That's a lot lower than $4,000 then.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.

You're ignoring the ability to "short" into this price.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by croyals »

sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
Or, alternatively, a lot of the early lot cashed out when it was going nuts
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

croyals wrote:
sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
Or, alternatively, a lot of the early lot cashed out when it was going nuts
No we didn't. We're adopting the technology.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Seneca of the Night wrote:
sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
You don't have to buy Bitcoin to have access to the tech.
In order for the BTC blockchain to work, somebody has to pay for the decentralised mining.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
You don't have to buy Bitcoin to have access to the tech.
In order for the BTC blockchain to work, somebody has to pay for the decentralised mining.
But plenty O block chain isn't BTC .....
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
You don't have to buy Bitcoin to have access to the tech.
In order for the BTC blockchain to work, somebody has to pay for the decentralised mining.
But plenty O block chain isn't BTC .....
I presume you mean you don't have to use specifically Bitcoin Blockchain. No, you're not forced too. But you have to pay gas (ether) to run smart contracts on the Ethereum Blockchain which is awarded to the miner.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Seneca of the Night wrote:
bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
You don't have to buy Bitcoin to have access to the tech.
In order for the BTC blockchain to work, somebody has to pay for the decentralised mining.
But plenty O block chain isn't BTC .....
It's exasperating.
What's exasperating is your complete lack of technological understanding coupled recently with useless ad hominem attacks. Sounds like you're more of a talker than a doer.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

sorCrer wrote:
bimboman wrote:
sorCrer wrote:
Seneca of the Night wrote:
sorCrer wrote:
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
You don't have to buy Bitcoin to have access to the tech.
In order for the BTC blockchain to work, somebody has to pay for the decentralised mining.
But plenty O block chain isn't BTC .....
I presume you mean you don't have to use specifically Bitcoin Blockchain. No, you're not forced too. But you have to pay gas (ether) to run smart contracts on the Ethereum Blockchain which is awarded to the miner.
Nano has no mining and no one is paid to confirm the transaction.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

goeagles wrote:Nano has no mining and no one is paid to confirm the transaction.
Correct although they seem to think it will run on the goodwill of people. i.e donations etc
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

I presume you mean you don't have to use specifically Bitcoin Blockchain. No, you're not forced too. But you have to pay gas (ether) to run smart contracts on the Ethereum Blockchain which is awarded to the miner.
How much per contract do you think it will cost ?

Other chains can run smart contracts can't they (typing "smart" made me cringe) , it's just a bloody contract.

The other issue is we are back to circular dilemma ; if the contract is uber successful then a lower coin price has to be demanded for the success to continue or the stuff will be taken to a private chain.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by goeagles »

sorCrer wrote:
goeagles wrote:Nano has no mining and no one is paid to confirm the transaction.
Correct although they seem to think it will run on the goodwill of people. i.e donations etc
No need for donations unless you consider someone running a node to be a donation. Most nodes would be expected to be run by businesses, although at the moment they are mostly run by Nano holders/enthusiasts.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
I presume you mean you don't have to use specifically Bitcoin Blockchain. No, you're not forced too. But you have to pay gas (ether) to run smart contracts on the Ethereum Blockchain which is awarded to the miner.
How much per contract do you think it will cost ?

Other chains can run smart contracts can't they (typing "smart" made me cringe) , it's just a bloody contract.

The other issue is we are back to circular dilemma ; if the contract is uber successful then a lower coin price has to be demanded for the success to continue or the stuff will be taken to a private chain.
It varies depending on processing power required. They're called smart contracts because they don't need human intervention once deployed. The contract itself can do things like get weather data or teh result of a horse race etc and action on this data.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

sorCrer wrote:
bimboman wrote:
I presume you mean you don't have to use specifically Bitcoin Blockchain. No, you're not forced too. But you have to pay gas (ether) to run smart contracts on the Ethereum Blockchain which is awarded to the miner.
How much per contract do you think it will cost ?

Other chains can run smart contracts can't they (typing "smart" made me cringe) , it's just a bloody contract.

The other issue is we are back to circular dilemma ; if the contract is uber successful then a lower coin price has to be demanded for the success to continue or the stuff will be taken to a private chain.
It varies depending on processing power required. They're called smart contracts because they don't need human intervention once deployed. The contract itself can do things like get weather data or teh result of a horse race etc and action on this data.

My point is it cannot rest again in the market price of a coin. Do you sort of agree that the cost has to be commensurate to the benefit.

I understand it can take variables in an automated fashion. However it makes me cringe.
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

bimboman wrote:
sorCrer wrote:
bimboman wrote: How much per contract do you think it will cost ?

Other chains can run smart contracts can't they (typing "smart" made me cringe) , it's just a bloody contract.

The other issue is we are back to circular dilemma ; if the contract is uber successful then a lower coin price has to be demanded for the success to continue or the stuff will be taken to a private chain.
It varies depending on processing power required. They're called smart contracts because they don't need human intervention once deployed. The contract itself can do things like get weather data or teh result of a horse race etc and action on this data.

My point is it cannot rest again in the market price of a coin. Do you sort of agree that the cost has to be commensurate to the benefit.

I understand it can take variables in an automated fashion. However it makes me cringe.
There are many failings in cryptocurrencies including ETH but the potential has been identified and further iterations should iron out problems.
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Anonymous 1 »

sorCrer wrote:
Rumham wrote:Where is this headed now, down to $4,000 or lower?
Can't be sure but 6200 looks like serious support. Bear in mind that it will only go down to the level of the early adopters and hodlers buy in. A lot of us are here for the tech.
It will go down to where it will go down..
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sewa
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sewa »

Yup these chartist types will be looking for support levels right until the day a company goes bankrupt. Some of them just do it do they can offload their position, some are genuinely deluded. For others it's just a part of the job
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paddyor
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Re: €100 of Bitcoin in 2010 = €70m today

Post by paddyor »

It's like someones smashed into an arcade and raided a load of penny slot machine

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He Man Rugger Pints
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Re: €100 of Bitcoin in 2010 = €70m today

Post by He Man Rugger Pints »

My magic beans :(
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

THE most important part of the hearing today about Virtual Currencies 02/06/18

https://youtu.be/2rWcVgffsjQ
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Re: €100 of Bitcoin in 2010 = €70m today

Post by TranceNRG »

Cryptos bouncing back today. I was tempted to buy more the other day but decided not to increase my exposure.
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

:o

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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Brad Garlinghouse CEO, Ripple At Yahoo Finance All Markets Summit. 7/2/2018

https://www.youtube.com/watch?v=kyWZzgZN3wo
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Cartman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Cartman »

XRP seems to be doing something and unlike usual the others aren't
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sorCrer
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Re: €100 of Bitcoin in 2010 = €70m today

Post by sorCrer »

Cartman wrote:XRP seems to be doing something and unlike usual the others aren't
Been really excellent. I bought 18000 at 0.73 and they just hung around for 2-3 days. Wake up this morning and they fire up to 1.22. I got out at 1.14 and now trading around the 1.10 mark :)
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Wilson's Toffee »

sorCrer wrote:
Cartman wrote:XRP seems to be doing something and unlike usual the others aren't
Been really excellent. I bought 18000 at 0.73 and they just hung around for 2-3 days. Wake up this morning and they fire up to 1.22. I got out at 1.14 and now trading around the 1.10 mark :)
What are the RSA tax implications on this ? Is it seen as trade profits, or capital gains ?
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Harveys
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Re: €100 of Bitcoin in 2010 = €70m today

Post by Harveys »

Important notice
Bitgrail S.r.l. Informs its users that internal checks revealed unauthorized transactions which led to a 17 million Nano shortfall, an amount forming part of the wallet managed by Bitgrail S.r.l.

Today a charge about those fraudulent activities has been submitted to the competent authorities and now is under police investigation.

We inform you that the other currencies have not been involved.

In order to conduct further verifications, all the activities will be temporarily suspended (including withdrawals and deposits). This procedure is indispensable for users security.

We do offer our full and sincerest apologies to our customers and to whom has been involved into the illegal transfers of Nano occurred on our platform.

Other announcements will be released shortly.

Thank you for your attention.
BitGrail was the fifth most popular exchange for XRB trading according to Coinmarketcap, however the volume has now been amended to zero. With a market valuation today of $10 per XRB, the to, al loss is estimated to be $170m.

The Nano Core team were informed by the owner of BitGrail, Francesco “The Bomber” Firano of the loss on Thursday. In a blog update they report that the fault appears to be related to BitGrail’s software. In private correspondence, Firano allegedly inquired as to the possibility of modifying the ledger in order to cover his losses, but the development team responded that this line of action:”s not possible, nor is it a direction we would ever pursue.”

The blog posts then makes subtle accusations regarding the legitimacy of the hack, stating that:

“We now have sufficient reason to believe that Firano has been misleading the Nano Core Team and the community regarding the solvency of the BitGrail exchange for a significant period of time.”

The team adds that criminal investigations are underway:

“Our team promptly contacted law enforcement and we are fully cooperating with law enforcement on this matter….We are preparing all information we have on the matter such as blockchain entries, screenshots, and chat logs”

Following the loss of XRB Bitgrail has claimed insolvency and is not in operation, whilst unofficial sources claim that the exchange had been insolvent months earlier. The source in question claims to have discovered that the account from which user funds had supposedly been lost funds, (BitGrail Representative 1), had multiple transactions of large even numbers, (e.g. 3000, 5000, 8000 XRB) to the Mercatox exchange. He/ she describes this behavior as suspicious, adding that:

“It certainly doesn’t look organic.”


https://www.ccn.com/17-million-nano-xrb ... -exchange/
bimboman
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Re: €100 of Bitcoin in 2010 = €70m today

Post by bimboman »

The Camorra coin looks good.

Let's be honest there's a whole heap,of theft going on isn't there. ?
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