$190 million gone forever? A Nightmare for Cryptocurrency Investors

 

Oh no! Shattered by the news……

Perhaps, the biggest news has disclosed for the entire cryptocurrency fans!!! No one can access the password; the world of Crypto is stuck in between

Sad reality...

30-year-old middle age man, Gerald Cotten, the initiator or you can say originator of the popular currency which was in the eyes of every investor, and even common people just like you and me.

DIED, THAT RIGHT! EVERYONE

He was found died due to a complicated disease however; he along with his password is gone into vain.

Gosh!!! WHAT A mystery, sad life for Crypto customers.

Let’s further go into the details of this tragic situation making headlines for news reporters and writers.

Where it all started?!?

Does the question arise where the hell it all started?

The first person to get an eye for the digital currency was a Japanese person name, Satoshi Nakamoto, from here all the mystery has started. This person name Satoshi was the inventor of a popular digital medium of exchange.

Got missing!!!!!!! Oh my god

You heard it right???

isn't it jaw-breaking news as the bitcoin, the million to billion dollar platform which has made the life of many.

 Can you image the originator has been missing and no one knows where he is? He is disappeared in 2010 after making the platform public in 2009. 

Then, this all fuss of digital money cryptocurrency, crypto technology this all stuff all started to rises.

This story continues until when the most tragic death of all which has dropped the heart of many Canadian users not just that other companies of bitcoin exchange face massive slump. 

WHAT WAS THE TRAGEDY?

The tragedy as mention above was the death of the founder Quadriga Cx YES, the owner of a company which is the crypto exchange provider it works in exchanging the bitcoins in limited numbers to one user to other.

The owner died, passwords got frozen all accounts are in cold storage mode

The end of this tragic death is cannot activate Cotten (the owner's) laptop. The most interesting point in this story is the wife of the owner, who does not have any clue on how the key should be accessed. This news has been on headlines till the day of the death of Cotten and until now people are clueless of the situation. The people whose accounts are incorporated by Quadriga Cx are frustrated, showing anger. Through this, the company has registered users of 363000 where each owns the total of 250million to 115000 million 

OH! THAT A HUGE AMOUNT

According to the testimony of his wife Robertson she has tried to contact pro hackers to get them out of the situation but even the hackers could not solve the mystery of password activation. She has added in the testimony we are finding a way to detect the laptop its keys through other laptops and mobile phones owned by him.

A rival company is also under the spell of the tragedy

Yes, not just Quadriga Cx who is facing failure at some point but the competitor company bitbuy.ca has badly faced the ashes against them. 

Vise president of the competitor’s company Dean Skurka has stated below

“This really highlights the need for the government to take action and regulate cryptocurrency exchanges,” 

This has shown concern for all the companies who have been the part of bitcoins more or less faces the same problem.

Is the news fAKE or is it based on reality??/?

Image result for satoshi nakamotoJust like any other person on earth thinking does it make sense! Does this news based on facts? What is true and what is false?

These are the questions popping in my mind and I am pretty sure my readers are also curious though!

When this news hit the headlines on all the newspapers people tried to guess why how all of a sudden? How did it happen???

The rumors spread that this news is fake Cotten is hiding moreover, he has run away with the money.  

When people were accusing Cotten of his death the person came into picture who was a friend an entrepreneur and a colleague saying that Cotten was having difficulties and even considered to be kidnaped as he is the owner of several million dollars.

In an article of professional essay writers they talk about how the issue of Cotten and its death has turned the life users.

He was has said that “something may get wrong” according to him.

The police further investigate the rumor being true or not bit confirm the death of Cotten to be real. The conspiracy of the death of Cotten has come to an end.  

A computer programing is available???

As death makes a tragic situation where police are investigating the case and also finding ways to get hold of the password or any key which has been in his drawer or in his mobile.

People are assuming that Cotten should be intelligent enough to have a backup or something like computer programming system where it passes down the security authorized the system to the other person available such as

In a metaphoric expression ‘A DEAD MAN SWITCH’ which is most probably considers to be activated as the man the owner of the system is dead or not available on time.

However, this computer programming is been done by best essay help UK to secure the data available at the time of an owner is not available.

If such a person is present then it is important to find it as soon as possible.

Many other bit coin exchange companies founder came forward to have fraud cases and criminal record such as jailed so this is the main reason for the curiosity to arise of people.

The person behind this record is Omar Dhanani who is involved in criminal acts. Well, this person has even changed his name not just that has also changed his appearance to not get caught. 

You got the brief idea about the bitcoins let go a little further

Just like an account of a person in a bank where we put our currencies just like that the bitcoin world has a wallet where you can store your money or digital coins what so ever!

The ‘wallet' has three options whether you can make it online or offline or even on mobile. The point you need to address is that it has two keys which are crucial to understanding. The public and private key,

Listen carefully! 

Do not ever!!!!

Ever disclose your key especially the one which is private I repeat do not ever do that.

Transfer of digital money is kept in a blockchain

Now you would ask me about ‘BLOCK CHAIN' WHAT in the earth this terminology is all about?

A brief explanation about blockchain is data chain or data storage of information regarding bitcoins,  

In simplest terms, you can say storing data on every level of digital   

Gavin Anderson, a software developer and a user of bitcoins lead define cryptocurrency as "decentralized currency of the people". 

He told that cryptography is untraceable does not have a proper channel to showcase accounts. Basically, it has been a roadway for hackers, unlawful businesses.

Woah, RISKY though!

The question is ‘Why would anyone want to invest in it’?

Perhaps, you own it if you are the sole owner of all the money in the account DUH!

https://blockgeeks.com/wp-content/uploads/2016/09/transactioncycle.jpg

The above picture should guide further with what I want to explain to you about.

A famous author blockchain revolution Don & Alex Tapscott, state that,

“The blockchain is an incorruptible digital ledger of economic transactions that can be programmed to record not just financial transactions but virtually everything of value.” 

FIGHT  between Crypto VS ordinary money banking

WHO IS BETTER THAN WHO

What do you prefer cryptocurrency or the regular one which you are already using?

In my opinion, I would not go to the new technology of money storage as it might be risky

AS I AM NOT A RISK TAKER

Are you like!!!!!! Or want to explore more about its pros and cons

Well let’s get started

 Most people do believe that in the near future people would be need of cryptocurrency as the importance of digital medium is making value against the regular one.

 No need to worry!

We would be somehow using it against regular money to buy products from amazon.com but not completely, we would shift to it. If we want to site an essay or service such as write my essay for me UK we probably would need bit coins for the purchase of thesis or any other assignments.

So, if you are unfamiliar with why should we use it? What is the reason behind it?

Chill! I am here to help, bro!!!

Let me explain you in simplest terms with the help of a chart.

 

 

Let me elaborate on the points above.

No need to involve anyone

In taking help from the regular bank you would find many people involve in purchase to transfer of money take an example of if we buy a car or a house we would contact a bank to get a loan put a lease on it settlement take more time to buy a product.

It is way time consuming for sure right!!

The business is considering using a digital way of transferring money from others like the cheap essay writing service the UK has shown the interest of cryptocurrency by paying their customers through this platform.

If you want to make your life easier you would go for a digital system. A system where no one is involved in between you can easily access your product just by transferring the money from one place to another.

Authorized! No way

As the definition suggests, cryptocurrency is a decentralized platform where you cannot track a person's account or a person itself who has transfer it who is the user of the wallet.

It sounds risky, sure is!!!

The person who is using is the user who has the key to access is the sole owner and when the owner lost its key or lost his/her life the key is become the mystery.

It is more like a disadvantage to me. Perhaps not for you though….

But the best part is it does not get ‘DEVALUED' like any other currency as the dollar value goes up or down your money value decrease.

Wow Cool! Easily accessible

More than a billion users are there who regularly access the internet, are aware of how the internet works. Though, every single person around the world is available.

 Why not on CRYPTO WALLET

What more shocking is, 1/3rd Kenyans are active users of bitcoins, isn't it amazing!

Even professional essay service providers are setting examples for other business to encourage them in making an account on cryptocurrency.

Non-profit has an advantage

The best point about bitcoins or crypto technology is it can save the money of non-profit companies to gather the funds available not in marketing or any other business affairs. Even companies such as best essay writers UK have bit coins for the fund raising and charity base promotions. However, crypto currency has lot benefits available for companies like these which do not involve any other third party moreover, it directly transfer money to the correspondent entity as it is.

For all the babbling and stuffing information for you guys the main idea of this news which was a fuss for all the users and even people who are active on these mediums.

They need to aware of the digital, internet and any online forum has to be opened through a device or a password especially the bitcoins they need to a special key which can be public or private the one which is private should be private as the name suggests.

People need to learn the concept of digital money transfer, the death of a person who has 190 million dollars it efforts it money just got into the drain as there was NO ACCESS!! NO ONE TO REPORT TO AND EVEN NO ONE IS INVOLVED IN THE MIDDLE OF THE TRANSFER.

WHAT IS NEXT??? What should be done????

 Mysterious, we believe the person is gone; the hidden secret of WHAT exactly the password was how it can be recovered is still a mystery.

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