The recent hack of Binance which resulted into the loss of 7,000 Bitcoin valued approximately around $40 Million shocked and dismayed many people in the world of cryptocurrency all because we are assuming too much that as the leader Binance is employing the best security technology they can find but alas hackers are always one step ahead of the game.

Now, there is this talk about the "rollback" which can possibly reverse the 7,000 BTC transfer. This is considered to be conroversial since we don't know the possible consequences and there is the need to get the support of at least 51% of miners.

I think that it is really about time that the industry find an acceptable solution in case of a major hack as it can be frustrating to just watch the hacked Bitcoin moving from one address to another while you are helpless about it.

Finally, the time has come for Bitcoin to break through the $6,000 level and from there the sight is towards the $6,500 level and once we get there I think it can be easier to go up, up and away. Is this already the big signal that the bull run is coming back? Well, a lot of coin hodlers, lovers and enthusiasts are getting to be excited though cautious of what can be the next in the ongoing Bitcoin saga. I am sure that there are also who are wishing that Bitcoin can dip a little so they can get in with the bandwagon before it goes up into the "moon".

Big volume of speculations is what brought Bitcoin to almost $20K in 2017 and by that time almost everybody was rejoicing and proclaiming to the whole world the beauty of Bitcoin. I did not hear too much that speculations can be bad for Bitcoin unlike now...maybe we realized that too much speculations can hinder the massive adoption of Bitcoin. People are hodling on to their Bitcoin because they are expecting that its price can go up and up and away. And for now there is nothing we can do about it as we are in the free market. Maybe we should just let Bitcoin be as it is and see where the whole boat is going.

This is a very interesting news and one that can make many of us happy as this can be a very convenient service. I have many tokens in my MEW account but for me to convert them to Eth they should already be in an exchange at least and I have to transfer them which can sometimes be time-consuming and tedious. With this partnership between Coinswitch and Metamask I can easily convert my digital assets to Eth as long as they belong to the 300+ listed.

We already have many laws against frauds and scams and yet from time to time we hear of victims of different fraudulent schemes and ways enriching the operators and leaving the victims with empty bags. I think that this is already part of human nature -- that desire to get rich as fast as possible and that desire on the victim not to miss out. This is very true in cryptocurrency but this is truer with the fiat money. Scam is not invented by cryptocurrency nor by fiat money. Now, this is an stigma that the industry has to address squarely otherwise the damage can be long-term and can affect the dreamed massive adoption of this technology.

Having a central bank to control Bitcoin will make it just another fiat money...it maybe can solved the extreme volatility happening from time to time but will make it controlled by few people and therefore going against its very nature. As in anything man-made, there can be advantages as well as disadvantages depending on someone's views of things and that is the same thing with Bitcoin. In my take, this is a free marketplace so we let Bitcoin be volatile though I am welcoming regulations to make sure that all players are behaving well and not doing shenanigans that can undermine the trust and confidence of investors and traders.

I heard that Japan is one of the leading countries where adoption of Bitcoin is growing steadily. Though the revenues generated for merchants' Bitcoin operation may not be that spectacular, still it can be viable and given some time there is always room for growth. Here in my country, there are now schools and many service providers which accept Bitcoin. One of the many factors that hindered the use of Bitcoin in commerce is its volatile nature...though this can be a big advantage to traders.

Trading merits in this forum is something we should not allow because this can be counterproductive to the intention why we have this system implemented right now. Though I have to be honest that the merit affected me just like many of us here, we have no choice but to unite with the forum on this thing. We should not buy and sell merits as this is against the policy of the forum and this can never be helping the forum in anyway. Admittedly though, it can be difficult to impose this policy against trading because transaction can be taking place outside but then we can determine with the quality of the posts if one is deserving of a merit or not.

It is amazing that with the modern technology we have, people can be able to see and watch the movement of the stolen cryptocurrency but there is nothing we can do about. The technology we are employing is helpless in stopping the said movement...this is one thing I realized that no matter how advanced we are essentially we are still limited and sometimes powerless. This is akin to watching people being murdered while your hands and feet are tied. Such is the irony of a society relying so much in technology.

As of now, there is still no direct effect cryptocurrency (especially Bitcoin) has on the price of the USA Dollar but this can be changing if and when central banks of other countries will prefer to get Bitcoin as one of the reserved currencies alongside with gold. And since this is not yet happening, cryptocurrency is existing alongside with the dollar as friends and not as a competitor. The real reason for the continuing drop of the real value of the dollar is because of inflation and that tendency of the government to just print more fiat money (called as quantitative easing which is a fancy name for printing money).

I have not yet heard anything on that matter by Binance but on my opinion I think they can easily take care of this problem as we know that Binance has been very profitable right from the very start. So we should not expect any solvency problem that Binance could not face with flying colors. This can be the biggest test of Binance's resiliency as the top cryptocurrency exchange in the marketplace. Their number one job for now is to make sure that the trust and confidence they are enjoying will not be diminished so that no competitors can take advantage of the situation.

The recent hack which many are disappointed and even shocked to learn can have some effects on the BNB token but of course this can easily be  remedied by Binance people by being open about it and the things they are doing to prevent the same thing from happening again. Binance remains to be a very profitable operation and this may not be making a strong punch on their finances...the most important for now is to make sure that all the coins/tokens of the users were not touched so that there will be continuing fear by its customers. I am sure that Binance can easily survive this and if I have the money this can be the best time to enter into BNB.

This is actually my first time to hear of such a good concept. I must be living in my own cave, so to speak, to have miss such a good idea. This is another excellent way to propagate cryptocurrency instead of those boring and very long lines we can just deal with a domain which is more classy, easy, smart and more convenient. I am hoping that soon this can be accepted by the many and become more popular. This is like having your own website address.

How bounty hunters are gonna be paid with their efforts and time is something at the discretion of the project owners and most of the cases they do not want to consult this thing with us. That is the sad reality...more so if a project is a scam right from the very beginning. Though there are always exceptions from time to time...those managers who are really establishing community connections and are pro-hunters meaning they are not just thinking their own side but also taking on the sides of the hunters. I am suggesting that there should be a way for both sides to make a dialogue on this matter otherwise bounty hunting can slowly die a natural death.

When ICO became less popular for doing crowdsale, many leaned towards the STO platform but so far it failed to generate the expected interest and enthusiasm from the crowd. So now we are seeing project doing the IEO thing...which can be advantages because the crowdsale is done under the watch of an exchange so there is no need for one that can carry the trading of the tokens or coins after the crowdsale phase...and this is why many investors are getting interested with this set-up. But of course, just like any project, there is no guarantee for its success. A project can still fail even if all the advantages are accorded into it and the price of a token can still plummet anytime. I think it all depends a lot on the project and the people behind it.

The hack in Binance will not be affecting Bitcoin or the whole cryptocurrency market for sure...this is just a drop in the bucket, so to speak. Now having said that, I think this can be affecting Binance itself because we are assuming that it is the safest cryptocurrency exchange in the whole world being the number one and the most popular as well as the most pro-active of all them all. However, I am sure that days from now people will start to forget what happened to Binance. This should however be serving as a big warning to all exchanges big and small to be careful and to make sure that their defenses are always alert, alive and enthusiastic (borrowed from a song no pun intended).

This coin is coming from a platform that is also into revenue sharing model and has its own social media offering. I am a little bit familiar with this platform because I used to be a member of this though am definitely not a technical expert. So far they are doing good though nobody can be sure as to its sustainability and wide adoption however it can be suffice to say that it has its own captured market because it has many users in many countries. And as usual we should be taking everything with some grain of salt on it...we have to vet well so we will not lost our money into the wind.

The thing here is that we should not be using the exchange accounts we have like a wallet because that is not the purpose of the exchange anyway. Though a hack on the site can mean that we can be refunded still it can be sending some chills on our spine when we learn that the exchange we are trusting is suffering some serious breach of security. Having the 2FA done is now becoming very basic both for our protection and that of the exchange itself. As they are always saying, nobody can be careful too much because we can be proven to be two steps late.

I have an account on this HongKong-based cryptocurrency exchange and though I never had any issue on withdrawing coins, there was a single transaction that it took for the site maybe at least 2 weeks to be done and by the time that the token arrived on my account in HitBTC the price of the token was almost zero. I understand that there are many complaints on this site and I think their customer service department is not doing a good job resolving them. Consequently, HitBTC is not considered one of the best exchanges in the market. Just be careful.

I am sure that the security breach and eventual loss of Binance is a great reminder to people behind Binance to avoid feeding their ego too much. This is a very big lesson for them and should be serving a big notice to all players in the cryptocurrency exchange industry that it is time to inspect all aspects of their platform so no hole can be found gaping and just waiting for a disaster. This recent breach has been sending shock waves to the whole industry and rightly so...let this be like a vaccine the industry needs from time to time.