Categories: Bitcoin NewsNews

#twitterhacked: Andreas And Crypto Twitter Defends Bitcoin In Recent Twitter Hack

With highly acclaimed twitter accounts like former US president Barack Obama, Elon Musk, Bill Gates etc. compromised, all eyes are turning towards Bitcoin and cryptocurrency.…

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With highly acclaimed twitter accounts like former US president Barack Obama, Elon Musk, Bill Gates etc. compromised, all eyes are turning towards Bitcoin and cryptocurrency. The hack eventually used the famous twitter accounts to scam crypto investors by asking them for bitcoin deposits. The cryptocurrencies due to their pseudonymous nature have been a payment choice for hackers in past.

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Andreas Antonopolous Defends Bitcoin

The famous educator also said that the choosing cryptocurrencies by the hackers as a mode of payment is actually a compliment and not something to look down. This in a way validates the high liquidity and usability of cryptocurrencies like Bitcoin and proves their suitability as digital money.

Is Bitcoin Really To Be Blamed?

Andreas asked,

If a kidnapper asks for uncut diamonds and swiss bearer bonds do you blame the diamonds and the bonds?

The incident merely proves Bitcoin usability just any other asset and its validation as a better digital money. Other crypto developers like Muneeb, co-founder at Blockstack, also voiced Andreas’s concern to not use this as a reason to give cryptocurrencies and bitcoin bad name.

Meanwhile the incident has surely brought cryptocurrencies and bitcoin in limelight and in next few hours we might receive mixed reactions on the same. This may even impact the price of cryptocurrencies like never before.

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Stay tuned!

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Sunil Sharma

Sunil is a serial entrepreneur and has been working in blockchain and cryptocurrency space for 2 years now. Previously he co-founded Govt. of India supported startup InThinks and is currently Chief Editor at Coingape and CEO at SquadX, a fintech startup. He has published more than 100 articles on cryptocurrency and blockchain and has assisted a number of ICO's in their success. He has co-designed blockchain development industrial training and has hosted many interviews in past. Follow him on Twitter at @sharmasunil8114 and reach out to him at sunil (at) coingape.com

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