Bitfinex event bitcoin protocol can not be shaken, don’t underestimate the bitcoin flexibility

Bitfinex event bitcoin protocol can not be shaken, don’t underestimate the bitcoin flexibility

Although in the past one or two weeks for bitcoin although did not produce what positive influence, this money is still very resilient encryption. Bitfinex hacker attacks has easily weakened the currency or other investment tools, but does not include bitcoin. Although some media accused this is due to the bitcoin network was hacked, but it’s not true.


A part of the exchange is not bitcoin protocol

The first thing to say is: bitcoin exchange is black does not mean that the bitcoin protocol problems. Exchange as a center of the company, operating in a decentralized environment. Although the exchange is not a traditional bank, but they are a business or even storing bitcoin places.

No matter when bitcoin exchange was black, can be considered a bank capital loss event. If the event occurs, it is not to blame money. It does not mean that funds in its core sense is flawed, because this is an isolated incident, and we know that the “agreement” has nothing to do with money. The same applies to bitcoin, because the network technology is to promote the impregnable, than any other form of world value transfer more secure.

However, this does not mean that all bitcoin trading company is safe. Bitfinex attacks, although the loss of about $65 million worth of bitcoin, but for the promotion of this famous encryption currency technology, but did not cause adverse effects. Some media may want people to believe this, but what they do show is that they do not know too on this issue.

The center of the top of the bitcoin protocol exchange is relatively weak. Although they traded encryption currency, but they used to protect capital technology has not been satisfactory. In the Bitfinex event, we still do not know how to take the money of the attacker. However, there is obvious fault, the company’s responsibility, they are the weakest link.

Don’t underestimate the bitcoin flexibility

Although some people might think that hackers will destroy the bitcoin price, this is not true. We admit that, after the attack on Bitfinex, bitcoin prices fell short, resulting in lower prices as high as 20%. However, it now appears that the price of bitcoin has a good recovery, return to $591.

Like the Bitfinex attack in the history of the development of bitcoin is not never, however, not a successful rout of bitcoin. Bitcoin is not so easily defeated. The adverse impact of hacker attacks do bitcoin concept, but will not affect bitcoin technology. Attack can not long-term depress the price of bitcoin.

Leave a Reply

Your email address will not be published. Required fields are marked *