I don't believe this bullshit.
No way that the biggest company in Canada can be that dumb and have no back up plans if something happens.
I even have back up plans and I don't have much in cryptos.
Come on that's nonsense
Bags to heavy? So ur saying a CEO of one of the biggest exchange in Canada , that holds almost 200 million dollars didn't have a backup plan . If u don't see anything suspicious in this ur in denial or clueless. My backup plan would have a backup plan ... On top of that where's the body ? 200 million is enough to start a new life 100x over
I totally agree. In fact most billionaires are likely hundreds of years old at this point. It's frankly prusperous that he could die at all, let alone in India. I've heard stories of middle managers that have escaped death three or four times already over there.
Annnddd this is why insurance backed digital asset custody, is going to be the only thing that can bring crypto to the masses. Not banks necessarily, but entities that can actually manage cryptocurrencies without losing them or access to them.
Pity to run a company that lives and breathes only crypto, and not know about Shamir's Secret Sharing. It may not be as well known as RSA, but Shamir is the "S" in RSA, and the algorithm was published in 1979, so it's older than that guy was.
I prefer using Bitcoin multisig, as this way I don't need to trust 1 device for signing. Although Ethereum showed that not all multisig implementations are equal, so probably SSS is better for non-BTC crypto.
Or this is an exit scam and he's technically still alive and thinking of a way to dump 0.15% of the supply anonymously or he already has. Unless the employees or anyone related to him post an address of the cold wallets with funds still there and no recent transactions, I would be suspicious.
such shortsightedness, bitcoin is only as valuable as there are fools willing to buy them, the greater fool theory.
Stories like these will SCARE away any potential buyer. Good luck with your holding when no one is buying.
It takes less dollars or fiat money though to maintain or raise the price, with lesser coins in circulation as there will be no one to dump those lost coins. Not to mention there is also halvenings that guarantees long term scarcity, so far all followed by a price rise a year later likely proves this theory.
And there will always be buyers for bitcoin as it has use cases. It will attract new people again once price creeps up via greed or once they've seen their friends who bought cheap getting rich, new noobs will join to fuel another bubble. If there is enough greedy idiots that buy lottery tickets, a multi-billion dollar industry, there will be enough idiots again that will buy the next all time high bubble.
Sounds very strange. I mean even if it is just about a small amount of private funds, everyone got some backup plans. Such a successful entrepreneur and business man and he kept the password solely in his head?
Ya it’s ridiculous. I mean.. you don’t just suddenly drop dead from Crohn’s disease. Even if they were super irresponsible all the way up to the point where he gets very sick, you’re telling me that somewhere in between that and dying they couldn’t get their shit together?