Bitcoin, Blockchain, and Protecting Your Cryptocurrency, Part 3
In our previous post in this series, we talked about the lack of regulation in cryptocurrency. Here, we discuss how to keep your virtual assets safe from hackers and thieves.
In 2014, the world’s first and largest bitcoin exchange, the Japanese based Mt. Gox, was breached by hackers leading to the theft of $400 million worth of bitcoin. The fallout from this theft was so massive that Mt. Gox had to shut down, file for bankruptcy, and the CEO was eventually indicted in Japan on criminal charges.Read more
Bitcoin, Blockchain, and Protecting Your Cryptocurrency, Part 2
In the previous post in this series, we discussed how cryptocurrency works. Here, we tackle what it is about the lack of regulation in crypto that makes it so appealing – and potentially dangerous.
Cryptocurrency at its core is centered on an anti-regulation, anti-government philosophy. There is a deep seeded desire to make financial transactions without banks, financial institutions, or big brother looking over your shoulder. But this kind of transacting away from the spotlight has its drawbacks. Lack of any central oversight body tends to allow money to be used for nefarious things. As one can imagine, cryptocurrency is the go to way to pay drug dealers, hit men, cyber terrorists, and hackers.Read more
Bitcoin, Blockchain, and Protecting Your Cryptocurrency, Part 1
In this blog series we discuss bitcoin, blockchain, and the cryptocurrency revolution. In this post, we tackle the brilliance as well as some of the pitfalls of the new economic technology.
Cryptocurrency, in its short existence, has seen an historic rise in value and relevance, and a subsequent fall back to earth. At the height of its value in December of 2017, each bitcoinwas worth $19,587 making millionaires out of common people who just got lucky. To put that into perspective, the current value of a bitcoin at the time of this writing is $6,388.01.Read more
The impact of criminal charges, even if they are ultimately determined to be unfounded, can have long-reaching consequences. For those with government jobs that necessitate federal security clearances, from the moment charges are filed, those clearances are in jeopardy.Read more
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