For years, I’ve had one thing in common with most cryptocurrency investors: I know almost nothing about cryptocurrency. I now share something else with users of cryptocurrency trading platform QuadrigaCX: I cannot access any cryptocurrency. QuadrigaCX announced its 30-year-old founder, Gerry Cotten, had died in December, and this week revealed that no one else has the passwords needed to unlock at least $150m in bitcoin and other assets. So, you can’t take it with you when you go, but you can also prevent anyone else from taking it. An estimated 92,000 users of QuadrigaCX with money on the line have learnt this the hard way. If you want to understand how cryptocurrency and its underlying blockchain technology work, I’m afraid you’re reading the wrong article. But if you want a rough idea of bitcoin’s recent trajectory, imagine a group of drunk teenagers falling down a London Underground escalator — while lecturing each other on the future of capitalism. The price has fallen from a m...

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