Hackers stole 3,800 BTC from Yapizon http://www.yapizon.com/ a south korea based BTC exchanged platform. 37.08% of their total holding were hacked. However, let me steer you in another direction.
Even though http://www.yapizon.com/ was hacked, we still noticed a rise in BTC this week, with 1 BTC amounting more than up to one ounce of gold!(28.3495 grams).
Chart for reference(1 week)
However, BTC is still going strong.
We all know(maybe, if you don't well here's news) that every single currency in the world is built on trust. The US, which is loaded with debts, has a strong currency, which is built on trust. If no one believed in it, do you think for a moment that US is gonna survive? Same thing for our dear BTC here, even though it was hacked, the price/market cap did not waver for one instant(many altcoins did after exchanged being hacked). That means BTC is going strong!
I am going to draw some conclusions, and YOU see if you agree with me.
- BTC can be invested in, heavy trust means that, in the long term it IS going to go up.
- You cannot have a FOLO(fear of losing out) in BTC, if you, the community AND the world trusts it, it's gonna be alright.
- Exchanged ARE prone to hacks, choose some nice secure ones like
https://btc-e.com/
https://bittrex.com/
https://poloniex.com/
Secure your wallet and NEVER EVER share your private address.
Well that's all have to say and see you soon!
Ciao!