On Bitcoin, Hacking and the Philippines

I am seeing lots of social media activity from my online Pinoy friends about Bitcoin, Cryptocurrencies, and hacking and oh boy I’m really amazed that we’ve got lots of pinoy experts on BTC and crypto and hacking now  na ha! Hehehe!

Honestly I think this is good and bad! Good, that there is an increasing interest in this topic and therefore more meaningful conversations can follow. Bad, because I see a lot of FUD (fear, uncertainty, doubt) out there about bitcoin and crypto (re: Bitcoin is EVIL), and I believe that FUD = misinformation and will not be helpful for all if it is not properly put into its place.

Disclaimer: I do not claim to be an expert on Bitcoin and cryptocurrency. I am just fortunate that in my line of work I am exposed to the good and bad of Bitcoin and cryptos. And as GI Joe series taught me “…Now you know… and knowing is half the battle” so I’m posting my thoughts here at  menardconnect.com.

So first, before we spread FUD about bitcoin,cryptocurrencies and hacking, please do read about Mt. Gox and Bitfinex. I was looking for related materials on this topic and found the following links below can give a pretty good start…

from The Verge:
Mt. Gox crumbles: all the news on Bitcoin’s biggest bankruptcy scandal

and from Ars:
A brief history of Bitcoin hacks and frauds

If you want to read a more recent hax then read about bitthumb

Then compute the fiat values, know the risks, research more, learn and decide. And please don’t be GOXED!

xxx

To end this post, remember GI Joe “Now you know… And knowing is half the battle…”

Will try to post more about bitcoin and cryptocurrency (maybe my thoughts on ETH, XMR, Calata, ICOs, and the worx) here at menardconnect soon (maybe this can be a multi-part post).