Binance Hack - Change Your Views On Bitcoin and Rest of Crypto?

[GbitG]

.....
Explain why or why not?

Well, nothing changes, just a reminder of privacy......

I have yet change my mind like I am still gripping my hand around Bitcoin. To be honest there is nothing strange like  every year we a such kind of hack or scams but it never change my mind regarding through the Bitcoin......

Such kind of victims give me console that you are the one who are following a legit way of privacy I mean self custody... I know many of you will realize that how important is privacy and even they also got realized that why the senior are just yelling to forum that " always used self custody rather CEX"

[Agathamay]

Binance Hack  - Change Your Views On Bitcoin and Rest of Crypto?

With the current situation Binance has this change your views on all of crypto?
Do feel even the creation of Bitcoin may have been created by radical people who had intention to scam and cause harm to everyone?
Or do you feel there is still something sensible in the crypto space that could be used for "good" purposes? Such as BTC being used as a money since it has a limited supply?
As there seems to be more and more evidence that people who we thought were credible in this space have proven to be deviants as well.
Explain why or why not?

I have nothing to be scared about when it comes to bitcoin and to the best of my knowledge, it was Binance which is a centralized exchange that was hacked and not bitcoin or any other cryptocurrency and I don't know why people find every possible means to talk down on bitcoin but it has come to stay and yes I still see bitcoin as money and a digital asset.
Binance was hacked and withdrawals were blocked but informations has it that, Binance has recovered their loss and withdrawals same as every other activities has been restored like nothing happened and that one sweet thing about bitcoin and cryptocurrency at large.

[Forsyth Jones]

In Bitcoin's history, there have always been exchanges that were hacked, practically every year and when we thought this was coming to an end, along came the massive wave of AI proliferation. The machine is 1000x faster  than humans at building code, finding and exploiting vulnerabilities, and fixing them, it depends on the operator. I even think this wave of hacks might actually intensify.

This does not change at all the fundamentals already established for Bitcoin over the years. Bitcoin belongs in your own wallet, and you only send BTC to an exchange for what you're going to trade/convert to other fiat or tokens. An exchange is not a bank, nor is it a safe place for your BTC, BTW, not even banks are truly reliable, banks have the potential to fail anywhere in the world. I don't find them reliable. Bitcoin is the only one that allows self-custody because it is P2P.

And Bitcoin wasn't created by radical people, it was created by visionary people who saw that technology was evolving in every field, but money had stagnated because it was monopolized at the mercy of inflation and local or external political variations. Bitcoin changed that (and I won't go into further detail here now).

[Wiwo]

I have nothing to be scared about when it comes to bitcoin, and to the best of my knowledge, it was Binance, which is a centralized exchange that was hacked and not bitcoin or any other cryptocurrency and I don't know why people find every possible means to talk down on bitcoin but it has come to stay and yes I still see bitcoin as money and a digital asset.
Binance was hacked, and withdrawals were blocked, but informations has it that, Binance has recovered their loss and withdrawals same as every other activities has been restored like nothing happened and that one sweet thing about bitcoin and cryptocurrency at large.

Binance hack was enabled by a staff computer that was compromised through a phishing attack to gain access to the company's hot wallet.

You are right this has nothing to do with bitcoin or Bitcoin's own security.

If you are scared by the various recent hack incidents on both exchange and cold wallet what you can do to Keep your assets safe is to separate them into multiple wallets that you can easily control and make your sexuriza priority.

[X-ray]

Its not that hacks are only happening now, they have been happening for years but maybe its only now that we have been personally affected because some of us here might have lost their funds too from those past scams.

Exactly, this is nothing new to us.

2026 - Binance
2025 - Bybit
2024 - DMM Bitcoin
2023 - Poloniex
2022 - FTX
2021 - Bitmart

The list goes on, every year there is always hacking and the AI fear only amplify it. At this point, we should not be surprised anymore.

At least on the bright side, Bitcoin is still going strong and keep making record high because market knows these hack is centralized failure and not Bitcoin failure.

[Princeemmanuel070]

Dont get it wrong, Bitcoin was not hacked, Binance was and this isnt the first time exchanges have been hacked which is why its smart not to hold your BTC on any exchange. Also tbh Binance handled the hack pretty well NGL.

[davis196]

Binance Hack  - Change Your Views On Bitcoin and Rest of Crypto?

With the current situation Binance has this change your views on all of crypto?
Do feel even the creation of Bitcoin may have been created by radical people who had intention to scam and cause harm to everyone?
Or do you feel there is still something sensible in the crypto space that could be used for "good" purposes? Such as BTC being used as a money since it has a limited supply?
As there seems to be more and more evidence that people who we thought were credible in this space have proven to be deviants as well.
Explain why or why not?

You are just speculating. Can you provide such evidence? What "people who we thought were credible" are you talking about? Are you talking about Roger Ver and Craig Wright? We've known that they were "rotten apples" since 2017.
Are you suggesting that Satoshi Nakamoto was a radical person, who created Bitcoin with the intention to scam and cause harm to everyone?
Satoshi never touched and never sold his 1 million Bitcoins? He would've sold everything long time ago, if he was into Bitcoin for the money.
The Binance hack didn't change anyone's views about Bitcoin. A hundred crypto exchanges were hacked in the last 10 years and Bitcoin is stronger than ever.

[B2Z]

I think we should not try to compare Binance or other crypto exchanges and this Bitcoin at the same time. If an exchange is hacked, then why will it have a bad effect on a specific currency. When a bank is hacked, that particular bank loses its funds, which does not immediately reduce the value of the local currency of that country. Bitcoin was created in such a way that any transaction can be completed at any time without the intervention of a third party, but when we keep our Bitcoins in an exchange wallet, this is like keeping money in a bank, that is, keeping Bitcoin on an exchange means there is a third party intervention in completing our transaction. I think if you think about anything related to Bitcoin, you should do it by looking at its popularity, potential, etc., not considering which exchange was hacked, how much money an exchange lost.

[internetional]

No. Just as my opinion remained unchanged following previous hacks of other exchanges, casinos, prediction markets, wallets, or various HW-devices. All this proves is that the methods for storing these currencies are not perfect; it in no way demonstrates that this asset class is "worse" than others.

No wallets are perfect and a perfect wallet is individually dependable like conditions that person has and can do best.

I've felt the same way for a long time, and all the hacks and thefts I've seen this year haven't changed my mind. Quite the opposite, they've only reinforced my belief.

For me, diversification is the best approach. Keep a little bit in different places. That way, at least they can't steal everything in one go. They might steal some today, some tomorrow, and who knows, maybe they'll overlook some of my sats altogether!