Bitcoin itself is very secure. The idiots running these exchanges are the ones to blame.
Saying this is a death-knell for Crypto is akin to saying robbing banks is a death-knell for the dollar.
It appears there are folks around here that do not understand how this stuff works.
This is a funny story though...I have no dog in this hunt btw.
Bingo!
It’s truly astounding how some people do not understand that the our purchasing power and savings is being destroyed because of fiscal irresponsibility out of Washington.
We are at historical low interest rates, and the Fed cannot even raise them without killing the economy and possibly causing our government to default on the minimum payments to the U.S. Debt. Remember how TARP, QE 1, QE 2, QE 3 and QE were suppose to save us? It failed and not a single politician will tell that to their constituents.
The Fed is printing 80 Billion a month every month to keep everything floating. What 1 dollar bought you in 2013 was the equivalent of .05 cents 100 years earlier in 1913. That is how much the Fed has killed the dollar. Yet there are still people that do not understand that the dollar is about to collapse.
People will finally get a clue when the economy implodes and they have a “Bail In” instead of a “Bail Out” like the last time. We will have a bank holiday, like they did in Cypress , and they take say 20% of what is your checking account and give us back an “I owe you”. Word is they will tap into our 401ks “pre tax money” and say it is time we do our patriotic duty and bail out the country. There goes your retirement.
The very reason Bitcoin and other crypto currencies exist is because of the above I listed. People are trying to protect their savings. They do not want to see it go to some corrupt and crooked politician to snort up his nose.
Anyway, sorry to go on a rant.