Author Topic: Bitcoin - Canadian Cryptocurrency founder Gerald Cotten, age 30, dies  (Read 174 times)

Offline ssfc72

  • Posting Member
  • Hero Member
  • *
  • Posts: 941
  • Karma: +0/-0
    • View Profile

A very interesting article about how his business, Quadriga was started and is now in Bankruptcy, owing 260 million dollars.

The 92,000 Client's money/cryptocurrency is apparently locked in a password protected notebook computer and USB key, which no one but Cotten knew the password.
« Last Edit: February 12, 2019, 02:46:55 am by ssfc72 »
Mint 18.3 on an HP Pavilion X360, 11" k120ca notebook
Tried Mint 19, but too many bugs. Went back to Mint 18.3
Cellphone ZTE Axon 7 Mini, PCMobile pay as you go

Offline Jason Wallwork

  • Administrator
  • Hero Member
  • *****
  • Posts: 1885
  • Karma: +5/-0
    • View Profile
Re: Bitcoin - Canadian Cryptocurrency founder Gerald Cotten, age 30, dies
« Reply #1 on: February 13, 2019, 10:04:41 am »
Fascinating story. Wired had an article on it, too. It was pretty much a one-man operation in terms of how the transactions were handed and was strange even for cryptocurrency. This quote from the Wired article is enlightening and most amusing, or at least I thought so.

Its astounding to me that a company of this size can be run with the same accounting procedures of Joes Fish n Chips, with a single person in charge and no accountability, says Emin Gun Sirer, a blockchain adviser and professor of computer science at Cornell University. Thats far from the norm. Its not a good look for our industry.

And there's an awesome tweet here that speaks volumes. Regardless, if the investors didn't at least *try* to get their money out when the entire board or directors resigned in 2018, I don't have any sympathy for them.

Primary: Desktop w/ Win10Pro/Ubuntu Budgie  on i5-3.2 GHz w/ 12 GB RAM, 480 GB SSD boot & 2x2 TB RAID 10 array for extra storage

Secondary/Test: Toshiba Satellite Ultrabook Z830-00K w/ Win10/Kali Linux  (i3-1.4 GHz, 4GB RAM, 128GB SDD)

Phone: Sony Xperia XA1 Ultra w/ Android Oreo 8.0