Exchange loses its virtual wallet in breach, which some reports say contained more than $60 million in cryptocurrency.
$60 Million, someone will be having a drinkie tonight
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Exchange loses its virtual wallet in breach, which some reports say contained more than $60 million in cryptocurrency.
$60 Million, someone will be having a drinkie tonight
I have been warning about this for 6 months.Quote:
Originally Posted by blue matt
Get control of your own Bitcoin in your own wallet that gives you and only you the control of the keys.
This is just one example. The losses that will be suffered by investors that don’t know how to invest properly is terrifying.
My Crypto is in a hard Trezor offline wallet.
More exchanges will be buggered like this.
Buy and withdraw your Bitcoin to your own wallet. Preferably offline.
My Bitcoin is in a sock under the bed. Take that hackers!
"All speculative bubbles go through four stages, each with its own internal logic. The first stage, which is sometimes referred to as the displacement, starts when something changes people's expectations about the future.......a few well-informed souls try to cash in on the displacement by investing in the new vehicle of speculation, but most investors stay on the sidelines.
The early investors make extremely high returns, and this attracts the attention of others. Next comes the boom stage, when prices are rising sharply and skepticism gives way to greed. The sight of easy money being made lures people into the market, which keeps prices rising, which, in turn, attracts more investors. Eventually, those upstanding citizens who haven't' joined in the festivities feel left out. Not just left out. They feel like fools.....
Boom passes into euphoria. Established rules of investing, and often mere common sense, are dispensed with. Prices lose all connection with reality. Investors know this situation can't last forever, and they vie to cash in before the bubble bursts......a larger and larger group of people seeks to become rich without a real understanding of the processes involved. Not surprisingly, swindlers and catchpenny schemes flourish. Finally, inevitably, comes the bust. Sometimes there is clear reason for the break; sometimes, the market implodes of its own accord. Either way, prices plummet, speculators and companies go bankrupt, and the economy heads into recession. A few months later, everybody looks back in amazement, asking, 'How did that happen?'"
Why would this bust?Quote:
Originally Posted by Wales-Bales
If the cryptography is broken it will bust to zero.
That is the only thing that would cause Crypto to bust.
This is not a ponzi scheme.
There are less than 17 million Bitcoin in the world.
They are understandably more valuable than gold.
They are trusted.
They are here to stay and under the total control of the owners of the key to the unspent transactions.
To the moon.
AJMHO
Only invest what you can afford to lose.
They are the general characteristics of a bubble, not specifically about bitcoin.Quote:
Originally Posted by AlwaysAway2