CryptoCurrency Itts Up

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NATURAL ANKLING
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CryptoCurrency Itts Up

Postby NATURAL ANKLING » 5 Feb 2019, 10:55am

Hi,
Oh well.
The founder died Suddenly, the reserves were stored on his laptop, Cold file, Password is encrypt it!
His wife does not know the password.
As far as I know with this type of currency, bitcoin, if you can’t find the license Stored on your media you have no money?
https://www.bbc.co.uk/news/amp/world-us-canada-47123371

Typed with speech

Edited for AutoCorrect grammar :(
Last edited by NATURAL ANKLING on 5 Feb 2019, 12:28pm, edited 2 times in total.
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Mick F
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Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 11:06am

This is an issue generally with computers and accounts, let alone Cloud storage.
If you die suddenly and no-one knows your passwords, they're stuffed.

Moral?
Write them down.
Mick F. Cornwall

kwackers
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Re: CryptoCurrency Itts Up

Postby kwackers » 5 Feb 2019, 11:19am

Mick F wrote:This is an issue generally with computers and accounts, let alone Cloud storage.
If you die suddenly and no-one knows your passwords, they're stuffed.

Moral?
Write them down.

I use 'LastPass' (alternatives exist).
Every site I use exists on there along with notes about where 'stuff' lives.

My other half can request the password and I have a two hour window to refuse the request, if I don't then she gets access to everything...
(The opposite is also true)

I do otoh enjoy crypto currency as entertainment. Folk trying to convince each other that it'll one day be a 'real' currency along with the idea that it's somehow decentralised.
It's almost as entertaining as brexit.

I did make a bit of cash out of crypto currency, I accidentally mined some (50?) BTC eons ago and then one day discovered they were worth $200 each!
If I'd hung on a bit longer I'd have retired now but can't complain.
However I know people who bought into it big time and are basically financially stuffed.

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661-Pete
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Re: CryptoCurrency Itts Up

Postby 661-Pete » 5 Feb 2019, 11:37am

I think Mrs P and I are covered, as regards passwords. Anyway, I assume that banks will release funds once one partner dies - as they always have done...

But this story does remind me of those "Après moi, le déluge" moments that used to trouble me in my working days as a Software engineer. For a lot of my work I was the sole person involved, and I know from experience how difficult it is for another to delve into one's coding! No matter how well-written and how well-documented the code is! Indeed, I seem to recall that years ago a company we worked alongside, had to bin an entire project when the programmer responsible for it died unexpectedly.

Ah well - it didn't happen in my case. I'm retired and well out of it. And others know the passwords to access my legacy stuff. Not that it's being developed any further now, the code is essentially 'frozen' at its most recent release.

For those who are minded to invest in this cryptocurrency nonsense (not I!!) - well this may serve as a warning.... :twisted:
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Canuk
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Re: CryptoCurrency Itts Up

Postby Canuk » 5 Feb 2019, 11:45am

Apparently there's a laptop lost in a landfill in England somewhere with £25 million worth of (7500) bitcoin on, which the owner purchased on the first release of the currency for roughly 0.01% of that.

Fight with a girlfriend, he goes away for the weekend, when he comes back she's tossed it to the rubbish bins. Gone.

Seemingly there's treasure hunters trawling the site every weekend looking for it. All that money encrypted on a few digital keys on a hard drive... There be gold!
Last edited by Canuk on 5 Feb 2019, 11:49am, edited 2 times in total.

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Re: CryptoCurrency Itts Up

Postby Canuk » 5 Feb 2019, 11:46am

661-Pete wrote:I think Mrs P and I are covered, as regards passwords. Anyway, I assume that banks will release funds once one partner dies - as they always have done...


Not in France, it can take up to 2 years to get a spouse's funds released, and that's going through a pricey solicitor to do the legwork.

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661-Pete
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Re: CryptoCurrency Itts Up

Postby 661-Pete » 5 Feb 2019, 1:29pm

Canuk wrote:Apparently there's a laptop lost in a landfill in England somewhere with £25 million worth of (7500) bitcoin on, which the owner purchased on the first release of the currency for roughly 0.01% of that.

Fight with a girlfriend, he goes away for the weekend, when he comes back she's tossed it to the rubbish bins. Gone.

Seemingly there's treasure hunters trawling the site every weekend looking for it. All that money encrypted on a few digital keys on a hard drive... There be gold!
This reminds me of the old "1933 penny" story that was widely circulating when I was a kid. At any rate, whenever I got on the bus, I used to diligently check through my change - just in case.... :?
Suppose that this room is a lift. The support breaks and down we go with ever-increasing velocity.
Let us pass the time by performing physical experiments...
--- Arthur Eddington (creator of the Eddington Number).

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Mick F
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Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 1:33pm

1933 penny?
£3.80 to you sir.

https://www.ebay.co.uk/itm/153350396532
Mick F. Cornwall

River_rat
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Re: CryptoCurrency Itts Up

Postby River_rat » 5 Feb 2019, 1:46pm

Mick F wrote:1933 penny?
£3.80 to you sir.

https://www.ebay.co.uk/itm/153350396532


Interesting ad that, From the description: "The coin in the picture is the example for sale." From the top of the ad: "2 available 4 sold"

Whereas from http://www.royalmintmuseum.org.uk/collection/collection-highlights/coins/1933-penny/index.html "No record was kept at the time of how many pennies dated 1933 were made but it is thought to be no more than six or seven."

Someone somewhere methinks is telling porkies!

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Mick F
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Re: CryptoCurrency Itts Up

Postby Mick F » 5 Feb 2019, 1:52pm

Interesting.
Never heard of this before today.

https://en.wikipedia.org/wiki/History_o ... enny_(1901–1970)#1933_rarity
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mercalia
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Re: CryptoCurrency Itts Up

Postby mercalia » 26 Sep 2019, 3:48pm

well here's an interesting story about OneCoin, the bitcoin killer

https://www.bbc.co.uk/news/technology-49826161

and a good video of the lady creator who broke the bank of Monte OneCoin & vanished in 2017 with £4bn ( hmm I am in the wrong game )


kwackers
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Re: CryptoCurrency Itts Up

Postby kwackers » 26 Sep 2019, 4:44pm

mercalia wrote:and a good video of the lady creator who broke the bank of Monte OneCoin & vanished in 2017 with £4bn ( hmm I am in the wrong game )

As scams go it's a good one.

I pity the poor fools sending millions of mails in the hoping someone will buy a fake pair of Raybans.
Have they no ambition?

cotterpins
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Re: CryptoCurrency Itts Up

Postby cotterpins » 7 Oct 2019, 6:52pm

Haven't we had cryptocurrency for years already. I recently purchased Park Lane, and a couple of railway stations. Sadly, when I called in an estate agent to sell them, he laughed . . . I wonder why? Cynic. Me? Never.

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661-Pete
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Re: CryptoCurrency Itts Up

Postby 661-Pete » 7 Oct 2019, 7:12pm

cotterpins wrote:Haven't we had cryptocurrency for years already. I recently purchased Park Lane, and a couple of railway stations. Sadly, when I called in an estate agent to sell them, he laughed . . . I wonder why? Cynic. Me? Never.

I don't know, but I sure wish Bojo would land on the GO TO JAIL square...
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Suppose that this room is a lift. The support breaks and down we go with ever-increasing velocity.
Let us pass the time by performing physical experiments...
--- Arthur Eddington (creator of the Eddington Number).

mercalia
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Re: CryptoCurrency Itts Up

Postby mercalia » 14 Nov 2019, 5:17pm

mercalia wrote:well here's an interesting story about OneCoin, the bitcoin killer

https://www.bbc.co.uk/news/technology-49826161

and a good video of the lady creator who broke the bank of Monte OneCoin & vanished in 2017 with £4bn ( hmm I am in the wrong game )




update

https://www.bbc.co.uk/news/technology-50417908

Konstantin Ignatov,( who introduces the video above) the brother of "missing cryptoqueen" Dr Ruja Ignatova, has admitted his role in the OneCoin crypto-currency fraud.

Ignatov pleaded guilty to several charges, including money laundering and fraud.