Why should anyone trust something that at best is only real in some sort of cyberspace locker? Most of us have seen a bank vault at least from the outside. It is an imposing thing and it isn't just for show. It is due to extreme measures being taken to protect currency and physical things of value In this it seems utterly stupid to trust something that isn't physical that who knows who might have access to. Maybe I am behind the technological curve, but the whole idea of crypto-currency seems like it is the worst idea to build one's financial life around.
This is a fascinating story of greed and crime based on what on the surface seems like a very unlikely criminal named Gerald Cotten. It's a mystery in that no one will likely ever be sure of how Cotten lost his investors monies. It's also somewhat unclear if Cotten did, in fact, die in India. What is known is that Cotten did engage in a criminal Ponzi scheme to fund his own self. There are other mysteries too such as did his co-founder have a hand in the criminal activity? Did his wife have knowledge as well as complicity in the crime? This doc exposes a lot of the bad stuff yet certainly it lacks some definitive answers. It is a good warning about how crypt-currencies aren't the answer to any kind of better monetary system. See it and come to your own conclusions. Personally after seeing this I can see why the value of these supposed financial instruments is unsafe and best avoided. In a way we should be glad this shot over the bough is a real warning.
