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LINKS FOR ADDITIONAL READING FOR THIS VIDEO & ALL INFO IN TEXT DOWN BELOW:
Ethereum, Ethereum Classic and the DAO: https://www.youtube.com/watch?v=QIFDX6J3vbY
The 7,074 BTC transaction: https://www.blockchain.com/btc/tx/e8b406091959700dbffcff30a60b190133721e5c39e89bb5fe23c5a554ab05ea
Binance Security Breach Update: https://binance.zendesk.com/hc/en-us/articles/360028031711-Binance-Security-Breach-Update
CZ Live AMA: https://twitter.com/binance/status/1125959459782553600
I wonder if theres a link between that event and the 5000btc "glitch" dump on bitstamp.
Good catch, I haven’t had the time, or interest to look into Binance and how they got hacked, because I wasn’t surprised. Just my personal opinion, I don’t think they have the technical capability to roll back the Bitcoin blockchain. I could be wrong, but I hope this is a case where the code is unstoppable. Good ? Heidi, this information really redoubles my drive to learn more about how they would be able to roll back the bitcoin blockchain. I know Ethereum uses ‘proof of stake’ to secure their blockchain, where as Bitcoin uses ‘proof of work’ to secure their blockchain. I’m not sure whether this has any bearing, on Binance’s ability to roll back the blockchain. Looks like I’ve got my research plan ahead of me. Thank you for making us all aware of this!
Hacking is just a convenient way to cover up the fact that the BTC was actually sent to help prop up Bitfinex and Tether.
BTC is on the up.
OK. 3 days later and how is it panning out?
Then rollback the blockchain BINANCE and get back my 2.300 XRP that was stolen from my account.
Always Solid! Salute Heidi
hands up !! hack of the binance is not a reason to fork btc !!!
eta super krasive devoichcka
Safu
Do you live in Bali or you just travel a lot that is awesome . It seems your always in beautiful places! Much love!!
binance got too big too famous too quick. now if anything happens they get media time. something of this would scare someone away from crypto. its a.shame this is the truth we have to face. thanks for the update
SAFU~SNAFU??? Binance hacked twice for the exact same amount?!? C'mon, Seriously?!?
Thank you for being our voice of reason. Appreciate your words very much. If CZ actually tries to roll back BTC, it opens the door for speculation on him working on the side the world bankers. He's already proven with his statement on the possibility, that he's an exchange guy, not a crypto guy, and that's too bad.
Plot twist: WHO HOLDS THE CAMERA? Dun dun dunnnnnnnnn….. O.o
LOOK at all that fake volume they do!!! They like many exchanges dont have all the coins they say they do…. ROLL BACK!! That means no TRUST in the ledger!!! If you dont have the coins you cry "ive been hacked"
Binance is handling this in a neat pre-scripted manner. A well timed, well rehearsed response tethered to a well orchestrated hack that comes with a targeted political outcome…
Seriously, people let's reconsider using Binance shall we? We don't need them.
Who would do such a thing
Wow great video. This incident and the rollback discussion and that a rollback of BTC is possible defeats everything I thought bitcoin stood for.
Decentralized and distributed so it could not be rolled back is the whole purpose. My faith is shaken and maybe that was the purpose to shake enough peoples faith to agree to change the code to prevent a rollback from being a possibility. A good centralized system is still centralized and a good dictator is still a dictator. $40 million is <10% of just 1 quarter's revenue !! Something is very wrong with this situation and much more serious or devious than it appears.
CZ…Chinese conman!!
Therefore BTC is not immutable! It CAN be rolled back if someone wants to. Dump BTC switch to XRP.
The fact that it can be rolled back scars me. Who is to say this becomes standard procedure when any large group decides to "FIX" the blockchain for their benefit. BTC is definitely not a safe investment as I once thought.
So they delist BSV and then shortly after get thier system exploited for 7,000 BTC which no one seems to be cashing out? Coincidence? Or is someone making a statement?
Bitcoin has had a couple reorgs already. It is not the power of Binance to roll back the blockchain, it is the probabilistic nature of finality on Bitcoin. 1-2 block reorgs happen everyday. Anyone wishing to bribe the miners with enough incentive can reorg the blockchain, no centralization needed whatsoever. Relying on people play altruistic game is a bad strategy