Crypto currency (IF banned from CA)
- Thread starter YoboCopter
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nikom court
Player Valuation: £20m
BitConnect founder indicted by Justice Department has disappeared
Satish Kumbhani is being charged for organizing a $2.4 billion Ponzi scheme.
www.engadget.com
The DOJ is charging Kumbhani with a number of offenses, including conspiracy to commit wire fraud, conspiracy to commit commodity price manipulation and conspiracy to commit international money laundering.
“Kumbhani’s location remains unknown, and the Commission remains unable to state when its efforts to locate him will be successful, if at all," wrote the SEC in its filing.
Ah BitConnect. Created one of my favourite moments in crypto historySEC officials do not know the whereabouts of Satish Kumbhani, the founder of crypto trading platform BitConnect, who was charged last week with defrauding investors of $2.4 billion in a Ponzi scheme. This puts the SEC in quite a bind, since they have to serve the 36-year old entrepreneur with his court papers. In a court filing from Monday, the SEC stated that they did not have an address for Kumbhani, an Indian citizen, and suspected that he likely fled to another country.
BitConnect founder indicted by Justice Department has disappeared
Satish Kumbhani is being charged for organizing a $2.4 billion Ponzi scheme.
The DOJ is charging Kumbhani with a number of offenses, including conspiracy to commit wire fraud, conspiracy to commit commodity price manipulation and conspiracy to commit international money laundering.
“Kumbhani’s location remains unknown, and the Commission remains unable to state when its efforts to locate him will be successful, if at all," wrote the SEC in its filing.
I imagine this is what @DuuuncanHadaPigeon is like at a Hex conference
nikom court
Player Valuation: £20m
heres an interesting read up on hex
wantfi.com
Richard Heart's Hex Crypto Token Is A Brilliant Scam
Richard Heart's Hex crypto project is effectively a Ponzi scheme and this original article points out its many problems and why you will lose investment money
wantfi.com
DuuuncanHadaPigeon
Player Valuation: £10m
Lolheres an interesting read up on hex
Richard Heart's Hex Crypto Token Is A Brilliant Scam
Richard Heart's Hex crypto project is effectively a Ponzi scheme and this original article points out its many problems and why you will lose investment money
Just read that and what I find funny is not all the bits he has got wrong (I will give examples) that show a clear misunderstanding of crypto and hex, but how he shills his own crappy referral links for actual scammy, admin key projects.
I will only give two examples as the article is that long and full of holes I would be here all day
First point of contention
'They all seem to parrot each other from the same script: “100% uptime, no middle men, and you hold your own keys!” As if they don’t understand that every token on Ethereum’s platform has had the same 100% uptime, and most tokens don’t have “middle men” either, since that’s the actual point of a smart contract. Furthermore, getting a cold storage Ledger wallet allows anyone to securely hold keys to any Ethereum token (and most other coins too).'
100% uptime is referring to the fact that the hex smart contract has never had any bugs, it has never been hacked and has been online performing as described 100% of the time since launch. He is equating ETH uptime with every single erc20 tokens uptime, which is moronic, how many hacks/bugs do we see every day with poorly written erc20 smart contracts.
Nearly all tokens have a middlemen in the form of admin keys, by definition. If you invest in a project, and the team/founder have admin keys that at any time can change the code or take the funds then that is a middleman, you are trusting them to act sensibly in a space where few do.
Most people don't have ledgers or use cold storage, those that do fine but in order to interact with hex smart contract you MUST be in control of your own keys, so by default anyone who uses HEX is in control of their own keys.
Second point of contention
'When banks give you interest, it stems from economic activity. The bank takes your money, loans it out, gets a return on the money, and then pays you part of that return'
This is not how banks works. The banks will use our money as collateral to go and lend 10-20x more money from the gvmt. Our money when deposited to the bank is a liability not an asset.
The guy has written a massive article and got so much horribly wrong which is why I think it's fitting that @nikom court posted it who often gets things horribly wrong.
For something that is such a scam it should be easily proved to be a scam as there would be many victims (just like there are with bitconnect) but there are no hex victims.
Such a scam that bought me a house and paid for my wedding & honeymoon god damn your Richard Heart!
PKwalnuts
Player Valuation: £15m
Thanks for sharing your knowledge and expertise and debunking that.
I watch this thread with a meagre interest, but you and Nikom disagreeing and point scoring only adds to the confusion, and will likely put others off the whole topic, particularly those without confidence or knowledge in ScamCoins generally.
Couldn't you just get your own WhatsApp group where you can go back and forth on who knows most and whose prison wallet is biggest?
I watch this thread with a meagre interest, but you and Nikom disagreeing and point scoring only adds to the confusion, and will likely put others off the whole topic, particularly those without confidence or knowledge in ScamCoins generally.
Couldn't you just get your own WhatsApp group where you can go back and forth on who knows most and whose prison wallet is biggest?
nikom court
Player Valuation: £20m
tell the admin to close the thread if you have concerns,if you take investment advice on a football forum you have only yourself to blame if it goes pear shaped,dyor!
Zatara
Player Valuation: £100m
Like most investments.
nikom court
Player Valuation: £20m
GLD up 14% ytd and Bitcoin down 20%.
Think the “digital gold” use case for crypto as a safe haven asset class isn’t working out quite like some of its proponents advertised.
Think the “digital gold” use case for crypto as a safe haven asset class isn’t working out quite like some of its proponents advertised.
nikom court
Player Valuation: £20m
YTD (its march 9th ?)
talk about short term thinking
i think you need to zoom out of your chart a bit more!
everytime you post this gold bug stuff bitcoin goes up 10 %,so keep going ?
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