Bitcoin Forum

Whats a difference the latest big crytpo hack in Japan has had almost no effect on BTC compared to MTGOX that many say caused the massive bear market we saw in BTC, admitedly BTC was already low but still I think Bitcoin takes the knocks and grows stronger with every blow i think.


I honestly think the whole world governement system could ban Bitcoin at this point and it would dip and recover. Bitcoin is becoming Antifragile...

Bitcoin always was antifragile, otherwise it would have been long dead by now.

I think the lack of impact on BTC's price level goes to show that by now the exchange ecosystem has become fairly healthy. Keep in mind that MtGox was the largest exchange by far back in the day. It was Bitcoin's single point of failure and in hindsight pretty much amateur hour. Nowadays not only the quality and security of exchanges has vastly improved, but there's also a wide selection of exchanges available; so the shut down of a single exchange does not matter as much. The exchange market has become de-centralized, so to speak and Bitcoin is stronger because of it.



Not sure if a world wide ban of Bitcoin would be all that recoverable, but Bitcoin would definitely still find its niche. Nonetheless it's indeed nothing to worry about, as such a ban would require all nations of the world to work together. And when was the last time the governments of the world agreed on anything?

This is an interesting article of the CryptoFundamental that is describing the Bitcoin as a nonperishable asset: accurately speaking life expectancy is proportional to age. This statement is also called the Lindy effect. Everything is explained thoroughly and the point is is that the Bitcoin will prevail!

https://cryptofundamental.com/in-pursuit-of-lindycoin-212bacafc395

Well you had nisehash hack went like unnoticed too. Thing is that today many people don't care, today you have many exchanges where you can trade crypto and its easier to buy and sell. Back when MTGOX was operating it was like number one place where you will go to buy and sell bitcoin. Today we can see that people around the globe are creating hype around bitcoin and alts which pull many fresh money in the system and you have to consider that last breach is still some small part.

They could ban it but then they don't really gain anything. At least with exchanges they can tax them and let people play around. If they try to ban this thing they will just get into a lot of mess since you can't turn off p2p system that easily as you know, there will be some country that won't ban it so it would be operational.

The impression I got was that the Coincheck hack was limited to NEM/XEM tokens and there was no BTC involved.  It's possible BTC is becoming more resilient to news about security breaches on exchanges, but it's hard to tell, since this hack didn't get a huge amount of attention in the news straight away.  The BBC, for example, only published this story 7 hours ago (http://www.bbc.co.uk/news/world-asia-42845505).  If it had been a large BTC theft, I suspect the media would have made a bigger deal out of it sooner and there may have been a more noticeable impact on prices.