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Darude Sandstorm
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February 09, 2015, 05:07:41 PM |
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I suspected it was some kind of FAKE news. Or at least misinformed one
If it were totally true prices would be sub 150 by now
The amount is seemingly based on figures that the site gave out which were obviously bullshit. It would be interesting to see how much they actually took in though. |
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cashtraderuk
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February 09, 2015, 06:03:29 PM |
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I'm not sure this story will turn out fake, but I'm pretty confident it has been over-exaggerated with the reported losses.
If the figures were true the bitcoin exchanges in China would have re-acted more violently which in itself is a sign that they are not taking the story seriously.
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finnile
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February 09, 2015, 07:04:20 PM |
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I'm not sure this story will turn out fake, but I'm pretty confident it has been over-exaggerated with the reported losses.
If the figures were true the bitcoin exchanges in China would have re-acted more violently which in itself is a sign that they are not taking the story seriously.
Its actually not fake news, but the story involves fiat, and is just simply related to bitcoin. The loss was incurred in fiat, and the company was relted to bitcoin. |
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fonzie
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February 09, 2015, 08:23:00 PM |
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I'm not sure this story will turn out fake, but I'm pretty confident it has been over-exaggerated with the reported losses.
If the figures were true the bitcoin exchanges in China would have re-acted more violently which in itself is a sign that they are not taking the story seriously.
Its actually not fake news, but the story involves fiat, and is just simply related to bitcoin. The loss was incurred in fiat, and the company was relted to bitcoin. This is the article on Finance.yahoo.com: Leung Yiu-chung said his office recently received reports from dozens of investors in Hong Kong who paid a total of HK$40 million ($5.16 million) into the scheme run online by MyCoin, but the total loss may be vastly more.
"The number of cases is increasing. These two days I received calls about more than 30 cases. We estimate more than 3,000 people and HK$3 billion are involved," he told AFP.
https://finance.yahoo.com/news/alleged-bitcoin-scam-leaves-millions-missing-132209213.htmlcough cough |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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finnile
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February 09, 2015, 09:06:08 PM |
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cough cough
Where does it say, that the amount was in bitcoin that was stolen ? |
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fonzie
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February 09, 2015, 09:10:34 PM |
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cough cough
Where does it say, that the amount was in bitcoin that was stolen ? The quote shouldn´t refer to your reply. It was directed @cashtraderuk, and the dozens of other people who tried to deny the figure yesterday and today. |
"To know death, Otto, you have to fuck life in the gallbladder" www.hsbc.com - The world´s local bank "These FUDsters are insane egomaniacs that just want cheap BTC" - oblivi |
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dsly
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February 09, 2015, 09:29:55 PM |
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Thats a pretty large amount scam. How did they get away with this ?
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neurotypical
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February 09, 2015, 11:14:40 PM |
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I'm not sure this story will turn out fake, but I'm pretty confident it has been over-exaggerated with the reported losses.
If the figures were true the bitcoin exchanges in China would have re-acted more violently which in itself is a sign that they are not taking the story seriously.
Its actually not fake news, but the story involves fiat, and is just simply related to bitcoin. The loss was incurred in fiat, and the company was relted to bitcoin. So what if it involves fiat? is it fake or not? If it wasn't a fake the price would have crashed a bit.. |
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pawel7777
Legendary
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Activity: 2436
Merit: 1559
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February 10, 2015, 11:52:10 AM |
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http://www.coindesk.com/hong-kong-exchange-mycoin-disappears-387m-reports-claim/If true, the supposed losses are a staggering amount, although this estimate is based on the company's own earlier claims that it served 3,000 clients who had invested HK$1m ($129,000) each. I wonder if mycoin claimed they had 30,000 clients, would all the news portals dumbly announce 'one of the biggest frauds in the history' or would they do their homework and present some reliable info.
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johnyj
Legendary
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Activity: 1988
Merit: 1012
Beyond Imagination
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February 11, 2015, 08:16:05 AM |
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Even at today's exchange rate, they would need 1.5 million coins to get those number, definitely a scam.
I guess this is a planned money laundering scheme: Make money transfer to mycoin.hk account and claim the money is lost, get some tax return from government and later receive transfered money at an offshore bank account
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netmonk
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February 11, 2015, 11:14:32 PM |
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JorgeStolfi
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February 12, 2015, 12:25:33 AM |
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Yeah, 43 victims so far, may not get to 100. Mark claimed that MtGOX had more than a million users, but when the leaked database was analyzed, it was found that only 70'000 accounts were minimally active. So his numbers were bloated by a factor of 15 at least. If the same factor holds here, it would be 200 accounts. By the way, here is a video that seems to be a 2014-03-12 congress of MyCoin.hk clients: http://my.tv.sohu.com/us/201860874/69946081.shtmlThe Westerner with grey hair presumably is William Dennis Atwood, the vanished CEO of MyCoin.kh's parent company. EDIT: I counted 7x8 tables with 8-10 chairs each, so there were about 450 people in that event. |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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VulgusMan
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February 12, 2015, 09:14:56 AM |
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i can confirm it... i have read this news in other place too! we will finally find that it was not stolen anything!!!  |
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JorgeStolfi
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February 12, 2015, 08:23:20 PM |
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This video has been posted to reddit as being another MyCoin.hk convention: https://www.youtube.com/watch?v=SGT3QL5VWPkIt says "My BitCoin" in the opening shots and many places, but on T-Shirts (mostly in the second half) it says "MyCoin" only. There are a lot more than 30 (or 43) people there. One of the overhead shots shows some large amounts, over 300 M (HKD, USD, CNY, or what?) If it is MyCoin.hk, there may be a lot more than 43 victims. If it is not MyCoin.hk, what venture is that? The overhead texts are in Chinese... |
Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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happycamper
Newbie
Offline
Activity: 30
Merit: 0
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February 12, 2015, 09:15:16 PM |
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After watching the video, I was like... what the heck were they smoking? There are a lot more than 30 (or 43) people there. Probably most of the people were paid actors, common tactics used by ponzi schemers. |
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JorgeStolfi
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February 13, 2015, 03:56:50 AM |
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Bitcoiners are trying to claim that "it has nothing to do with bitcoin". But they are not innocent:
* Bitcoiners keep talking about price "going to the moon", "gains of 1000% per year" because of the "exponential trend" etc. Because of these claims, when MyCoin promised 300% returns per year, people believed it.
* MyCoin has been operating for some time. The real bitcoiners in HongKong must have known of its existence, and must have seen that it was a ponzi. Why didn't they alert the police? Because "anything bitcoin is good"?
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Academic interest in bitcoin only. Not owner, not trader, very skeptical of its longterm success.
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