I don't think your first point sounds right? Centralized exchanges are basically just like every other Centralized system out there, it's there to make the processes involved a lot easier by connecting it with a bunch of other centralized stuff. It's by no means actually needed imo (after all, how do you think transactions happened in the beginning when centralized exchanges weren't a thing?).
Naturally, Bitcoin is lost upon death, unless you provided a method to access your wallet that others can access. Simple as that. I'm still not sure whether it can be accessed by an external party in the near future but at the moment, it's not possible.
Topic: Just watch "Trust no one" diocumentary film related 2019 biggest crypto scam (Read 206 times)
April 07, 2022, 09:09:16 PM
April 07, 2022, 08:45:41 PM
I have seen this documentary on my Netflix feed, and I just added it to my watchlist. I haven't had the time to see it because I forgot about it. I know that there were issues surrounding it way before it became a documentary for its gist. I read some of it here in the forum and in Telegram groups that I'm a part of, IIRC. What happened is sad and escaping means faking his death, he probably is doing that.
April 07, 2022, 08:38:43 PM
I watched some parts of it, skipped a lot, and then move to another movie after hearing he live a high life when he started earning from the exchange. People around him noticed him because this guy was a weirdo and seem a nobody as they said in the movie but eventually tried different things that extreme rich kids do after putting up the exchange like skydiving. The theory that he could have been alive, I don't wanna spoil but to make you interested, is probably real that he is just hiding somewhere enjoying his new life.
"Trust no one" speaks for itself. Trust no one. Leaving something for my kid, I can have it in a form of real properties and collectibles. Or I'd leave my Blockfi account. But the ones I hide I think will remain hidden while I'm able.
"Trust no one" speaks for itself. Trust no one. Leaving something for my kid, I can have it in a form of real properties and collectibles. Or I'd leave my Blockfi account. But the ones I hide I think will remain hidden while I'm able.
April 07, 2022, 08:20:19 PM
I remember the Quadriga incident/scam quite well. I will check out the documentary though.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
Based on the doco, there was a death certificate (last name misspelt), and a verbal interview with the doc who was there when the CEO was announced dead. Also, there was a funeral with closed casket. It's all very suspicious, but apparently it looks like he is actually not alive any more. The suspicion is also about the wife, because only about a week before his death he signed a will leaving her everything, and the night of the funeral she was drinking and partying with friends. She didn't appear in the doco.
It would be good if you could provide at least some links so that it would be justified out.If thats the case then its safe to presume that its not his husband or this was totally a show.
Its been a while since this issue but it tends to be a mystery all over since there are lots of questions which couldnt be answered out.
April 07, 2022, 07:25:47 PM
I remember the Quadriga incident/scam quite well. I will check out the documentary though.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
Based on the doco, there was a death certificate (last name misspelt), and a verbal interview with the doc who was there when the CEO was announced dead. Also, there was a funeral with closed casket. It's all very suspicious, but apparently it looks like he is actually not alive any more. The suspicion is also about the wife, because only about a week before his death he signed a will leaving her everything, and the night of the funeral she was drinking and partying with friends. She didn't appear in the doco.
April 07, 2022, 10:50:43 AM
And this film teaches me 2 things.
1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
• I have not seen the documentary yet, but I can say, centralized exchanges are not required, in fact they should be avoided if you can find an alternative to use in it's stead. A decentralized network does not need a centralized agency to work.1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
• If you do not share your account access and held them in a non custodian wallet, the bitcoins arr effectively lost. Everyone who holds an amount of Bitcoin (whether or not it's a significant amount now) should prepare for this possiblity.
A custodian wallet can get access to those Bitcoins as they have custody.
well, in a world where governments didn't exist then people could dream of something like real decentralization free from governments, but in this world where we are that is an unrealistic dream. for bitcoin to have this current markecap and because people are buying bitcoin using their bank accounts and for that they are using centralized exchanges, so billionaires, rich, famous and big investors from other industries are entering this market and because they have confidence that it it is being a centralized market where KYC works, where the laws of the governments are being implemented, the future everything will be centralized, KYC is the future unfortunately, this is the reality. The times of decentralization are gone, there will come a time when even wallets will ask for KYC
April 07, 2022, 10:31:22 AM
I remember the Quadriga incident/scam quite well. I will check out the documentary though.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
What I do wonder to this day, however, is this - are we sure the man is even actually dead? Didn't his body disappear (or it got cremated pretty fast?)? How do we know he is not actually alive and off somewhere with the money, since I believe that sum was never recovered.
April 06, 2022, 07:49:55 PM
I already watched this on Netflix and I thought this documentary is all about Bitcoin but isn't, it's about the mysterious death of the CEX owner which is they have doubt that it was an exit scam. Sad to say why they highlight Bitcoin in this film of documentary, they should warn everyone not to store Bitcoin on exchange instead.
This is how we can apply the "Not your Keys, Not your coins" we don't know when the exchange turn out scam which is in that film, there's a story of a man who lends money just to invest in crypto and entrust all of his assets into that exchange.
Everything in that short film is unexplained, the mysterious death of the exchange CEO becomes suspicious. Dont trust any exchange that doesn't have enough reputation and store your asset in a long term. Because as I understand in that film when you deposited coins on that exchange, they create a fake balance in your portfolio but your coins were ended out in their wallet (a conclusion based on an expert investigation on that documentary film), and in fact, they dont have a cold wallet which is very suspicious at the beginning.
I have not seen the film really. That is how crypto scam works. They always provide fake evidences that will make you believe that you are not wrong with your trusted exchanges, but it all ends up a big scam. I guess this will be a big lesson for us that even how legit an exchange looks like, we should always try to be suspicious and find those red flags that will clear all the doubts we have in mind. Because as long as money matters, then we should always secure it as much as we can. This is how we can apply the "Not your Keys, Not your coins" we don't know when the exchange turn out scam which is in that film, there's a story of a man who lends money just to invest in crypto and entrust all of his assets into that exchange.
Everything in that short film is unexplained, the mysterious death of the exchange CEO becomes suspicious. Dont trust any exchange that doesn't have enough reputation and store your asset in a long term. Because as I understand in that film when you deposited coins on that exchange, they create a fake balance in your portfolio but your coins were ended out in their wallet (a conclusion based on an expert investigation on that documentary film), and in fact, they dont have a cold wallet which is very suspicious at the beginning.
April 06, 2022, 07:00:54 PM
Just watch the documentary film on Netflix called "Trust No One". Which is the true story of the biggest scam worth almost $250M by Gerry Cotten. What comes out after his death and at the time when his death has become the biggest mystery in the crypto world? This is really a scary story. And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
And this film teaches me 2 things.
1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
Though there are several posts related to these 2 points on this forum. But I want to point out these 2 things from the films. If you haven't watched it, I think you should have watched it if you are working in the crypto field. It helps you get some alerts on what might help you. And you will find the films on Netflix. And if you don't have Netflix, then you might find any piracy website. I don't suggest it. However, if you so desire.
If you watched the movies please share your opinion here. And if you find any important things please share with us.
A centralized exchange is more seen today and observed, and we are always encourage to use it because its more safe to use compared to some random decentralized exchanges. But definitely, the risk is always there.
I guess i've seen a lot of threads more likely about what happen to your bitcoin if you are dead. This is the reason why we have to share it to our wife or educate our children about it so they can benefit from it once accidents happen to us. But i think this movie will teach us more on how to protect our bitcoin and teaches us what to do in instances like this. So maybe its worth watching.
April 06, 2022, 05:45:42 PM
A correspondent talked to the actual doctor who has seen the death of Cotten. Other than that, they're all talked but it seems legitimate that Cotten has died there.
Well, those conspiracies are going to live forever for those people that has been there and still doubting the death of Cotten. It's on them if they're going to believe it or not but it's a third party and news agency that actually proved it.
If he died without any suspicious then can we say that this is not a scam per se? Scams happens when it was supposedly Cotten fake his death and then just disappeared and probably living under a false name with that huge money from his exchanges. Although their is circumstances that he might be malversation of funds from his CEX, his death might have contributed though to such allegations that he did in on purpose to scam his customers.Well, those conspiracies are going to live forever for those people that has been there and still doubting the death of Cotten. It's on them if they're going to believe it or not but it's a third party and news agency that actually proved it.
If you watch the documentary, there's a likely that her wife was involved with it and there were suspicions about her so that's why it's still a scam, no matter what there's someone who holds the private keys alone and it's Cotten. He's an owner of an exchange and should have known the responsibility of those funds of the poor victims.
April 05, 2022, 06:12:02 AM
And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
Of course. Putting yourself in their shoe will make you also feel how they're feeling with this scam. Those big amounts that were scammed to them and hoping that it will be back just broke their hearts. Even if you haven't been scammed or never experienced being scammed, you'll understand how heavy it is to lose your life savings from a platform that you've trusted and thought sort of had a good reputation.Don't also forget the lesson of not trusting your funds to exchange and using them as your storage.
I am curious, did the documentary resolve the mystery of how he died in India? Did they show proofs that he died in a hospital because of his disease? This is what I am curious about because there are conspiracy theories that he is still alive as they can't produce his body. Haven't watched the documentary yet, but I am interested to watch this film.
Well, those conspiracies are going to live forever for those people that has been there and still doubting the death of Cotten. It's on them if they're going to believe it or not but it's a third party and news agency that actually proved it.
April 05, 2022, 06:04:17 AM
And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
Of course. Putting yourself in their shoe will make you also feel how they're feeling with this scam. Those big amounts that were scammed to them and hoping that it will be back just broke their hearts. Even if you haven't been scammed or never experienced being scammed, you'll understand how heavy it is to lose your life savings from a platform that you've trusted and thought sort of had a good reputation.Don't also forget the lesson of not trusting your funds to exchange and using them as your storage.
I am curious, did the documentary resolve the mystery of how he died in India? Did they show proofs that he died in a hospital because of his disease? This is what I am curious about because there are conspiracy theories that he is still alive as they can't produce his body. Haven't watched the documentary yet, but I am interested to watch this film.
Well, those conspiracies are going to live forever for those people that has been there and still doubting the death of Cotten. It's on them if they're going to believe it or not but it's a third party and news agency that actually proved it.
April 04, 2022, 07:29:49 PM
~snip~
I am curious, did the documentary resolve the mystery of how he died in India? Did they show proofs that he died in a hospital because of his disease? This is what I am curious about because there are conspiracy theories that he is still alive as they can't produce his body. Haven't watched the documentary yet, but I am interested to watch this film.
I am curious, did the documentary resolve the mystery of how he died in India? Did they show proofs that he died in a hospital because of his disease? This is what I am curious about because there are conspiracy theories that he is still alive as they can't produce his body. Haven't watched the documentary yet, but I am interested to watch this film.
They showed an official death certificate from India, although it had his last name misspelt.
One journalist/reporter went to India to investigate, and interviewed the doctor. He described what he saw, and how the CEO was revived a couple of times until it couldn't be revived any more. This is all based on verbal information from the doctor given to the reporter.
The funeral was done with a closed casket, so most people didn't see the body. The wife is said to have seen the body in the funeral.
That's pretty much it. The people affected in this are now demanding to exhume the body. The wife didn't appear in the documentary. Maybe there's something legal about it, or maybe she just didn't want to appear.
I think it's worth watching the documentary, I didn't know the details of this and they covered it all quite nicely.
April 04, 2022, 07:09:04 PM
I already watched this on Netflix and I thought this documentary is all about Bitcoin but isn't, it's about the mysterious death of the CEX owner which is they have doubt that it was an exit scam. Sad to say why they highlight Bitcoin in this film of documentary, they should warn everyone not to store Bitcoin on exchange instead.
This is how we can apply the "Not your Keys, Not your coins" we don't know when the exchange turn out scam which is in that film, there's a story of a man who lends money just to invest in crypto and entrust all of his assets into that exchange.
Everything in that short film is unexplained, the mysterious death of the exchange CEO becomes suspicious. Dont trust any exchange that doesn't have enough reputation and store your asset in a long term. Because as I understand in that film when you deposited coins on that exchange, they create a fake balance in your portfolio but your coins were ended out in their wallet (a conclusion based on an expert investigation on that documentary film), and in fact, they dont have a cold wallet which is very suspicious at the beginning.
This is how we can apply the "Not your Keys, Not your coins" we don't know when the exchange turn out scam which is in that film, there's a story of a man who lends money just to invest in crypto and entrust all of his assets into that exchange.
Everything in that short film is unexplained, the mysterious death of the exchange CEO becomes suspicious. Dont trust any exchange that doesn't have enough reputation and store your asset in a long term. Because as I understand in that film when you deposited coins on that exchange, they create a fake balance in your portfolio but your coins were ended out in their wallet (a conclusion based on an expert investigation on that documentary film), and in fact, they dont have a cold wallet which is very suspicious at the beginning.
April 04, 2022, 06:59:29 PM
1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
1. This is why you should not store up your funds on an exchange or making it as your main wallet because hacking and locking up funds could really be possible thats why its never been safe but
we dont have any other choice on some sort specially if this is the main medium on where we do make out conversions from fiat to crypto or crypto to fiat.
2. This is where personal actions do vary whether they do make out some will and store those account details or would simply write it on a piece of paper and tell your loved
ones on accessing it once you have died.
April 04, 2022, 06:54:30 PM
• I have not seen the documentary yet, but I can say, centralized exchanges are not required, in fact they should be avoided if you can find an alternative to use in it's stead. A decentralized network does not need a centralized agency to work.
CEX are not required, but most used exchanges are CEX when its a matter of crypto to fiat conversion. Since you mentioned decentralization, maybe you can recommend decentralized websites or services that are trustworthy enough and can be used and access by almost everyone to convert fiat to crypto, and viceversa, plus without hassle and newbie friendly like what CEX offers.• If you do not share your account access and held them in a non custodian wallet, the bitcoins arr effectively lost. Everyone who holds an amount of Bitcoin (whether or not it's a significant amount now) should prepare for this possiblity.
A custodian wallet can get access to those Bitcoins as they have custody.
This only works for individual holdings bit surely its very helpful for individual matter but when you died suddenly then people under your care will suffer if your holdings cannot be recovered. But the quadrigax incident is a business and shouldnt work like they did where cotten has the only access of it. A custodian wallet can get access to those Bitcoins as they have custody.
April 04, 2022, 06:45:26 PM
And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
Of course. Putting yourself in their shoe will make you also feel how they're feeling with this scam. Those big amounts that were scammed to them and hoping that it will be back just broke their hearts. Even if you haven't been scammed or never experienced being scammed, you'll understand how heavy it is to lose your life savings from a platform that you've trusted and thought sort of had a good reputation.Don't also forget the lesson of not trusting your funds to exchange and using them as your storage.
I am curious, did the documentary resolve the mystery of how he died in India? Did they show proofs that he died in a hospital because of his disease? This is what I am curious about because there are conspiracy theories that he is still alive as they can't produce his body. Haven't watched the documentary yet, but I am interested to watch this film.
April 04, 2022, 06:31:59 PM
And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
Of course. Putting yourself in their shoe will make you also feel how they're feeling with this scam. Those big amounts that were scammed to them and hoping that it will be back just broke their hearts. Even if you haven't been scammed or never experienced being scammed, you'll understand how heavy it is to lose your life savings from a platform that you've trusted and thought sort of had a good reputation.Don't also forget the lesson of not trusting your funds to exchange and using them as your storage.
April 04, 2022, 06:10:42 PM
And this film teaches me 2 things.
1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
• I have not seen the documentary yet, but I can say, centralized exchanges are not required, in fact they should be avoided if you can find an alternative to use in it's stead. A decentralized network does not need a centralized agency to work.1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
• If you do not share your account access and held them in a non custodian wallet, the bitcoins arr effectively lost. Everyone who holds an amount of Bitcoin (whether or not it's a significant amount now) should prepare for this possiblity.
A custodian wallet can get access to those Bitcoins as they have custody.
April 04, 2022, 05:08:58 PM
Just watch the documentary film on Netflix called "Trust No One". Which is the true story of the biggest scam worth almost $250M by Gerry Cotten. What comes out after his death and at the time when his death has become the biggest mystery in the crypto world? This is really a scary story. And when I watched the film, I was just curious about one thing: is it possible to understand the feelings of those people who lost everything on quadrigacx exchange?
And this film teaches me 2 things.
1: A centralized exchange is required, but it is also risky.
2: What happened to your bitcoin after your death, if you didn't share your account access with anyone?
Though there are several posts related to these 2 points on this forum. But I want to point out these 2 things from the films. If you haven't watched it, I think you should have watched it if you are working in the crypto field. It helps you get some alerts on what might help you. And you will find the films on Netflix. And if you don't have Netflix, then you might find any piracy website. I don't suggest it. However, if you so desire.
If you watched the movies please share your opinion here. And if you find any important things please share with us.
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