To summarize it all on why BTC is king are some of the following key factors which I think are very critical on its success:

1. BTC is a pioneer cryptocurrency.
2. BTC gained early adoption and mass awareness and utilization.
3. BTC has more secure network and algorithm.
4. BTC has limited supply and its price trajectory is consistent with its supply and demand.
5. BTC is continually gaining wide adoption and mass distribution worldwide.

Ideally, the use of any insurance policy is recommended for such transactions but according to the report, the buyer has been duped ...

Hmmm... I wonder why they haven't used any commercial letters of credit as a way to both secure their transaction. Anyway this could serve as a lesson to all international traders.

On a side note, I think a digital letters of credit could be implemented in a blockchain as a DeFi platform to cater to international trades though I don't know yet a blockchain project that that offers similar services from traditional letters of credit.

That incident was a brazen act of stupidity coming from those criminals who thought they can escape the teeth of law. Meanwhile, I think the buyer company has been complacent enough that they did little to ensure that the copper cargo would be accompanied by their own representative and the insurance papers verified for their veracity considering that the transaction involves a considerable amount of money. Imho.

My country, the Philippines had suffered a lot during the hard lock down which has resulted to a huge number of business closures and jobs lost and had left most Filipinos in a state of uncertainty and insecurity. What I fear is that the pandemic could somehow affect our mental health - as I myself, had experienced some form of anxiety attacks - which could have detrimental effects in the future if left unchecked.

Thankfully, the National Government together with Local Government Units had somehow realized that a hard lock down with no concrete results could have worsen our country's economy  thus had acted to ease some restrictions like allowing businesses to open up  and keep the economy rolling but they are enforcing strict implementation of health protocols like personal sanitation, contact tracing, wearing of face masks and social distacing, etc...

The United States cannot impose democratization on any foreign country that has its own sovereignty but it can exert some kind of influence that could be advantageous and in harmony to its foreign policy. Being viewed as some kind of "international police", the US is expected to react to this kind of political crisis in Burma but I think it is kinda cautious right now especially that a new administration was just installed recently and it could have an unpredictable foreign policy especially in the ASIAN region.



History tells us that there is no perfect form of Government and we have seen other progressive forms of Government in other countries like monarchy that has been very effective in achieving  economic stability among its people.



Again, the United States has no right to intervene either military or politically in any sovereign Government and would likely let Burma's political scene take its course in the hands of its own people. But this is not always the case as they could impose some kind of economic sanctions or trade embargo to castigate any Government who are not allied with them to please the international community. In this regard, we should also take note that there are other regional players that could exert influence on ASIAN countries like Russia and China and the US do more i order to maintain the status quo.  Imho.

Generally we should always be vigilant on these types of frauds and should not be complacent when it comes to security and awareness on these types

of threats. Nevertheless, we could easily find tons of useful information on this sub-thread alone that could help us educate ourselves and be constantly

updated on these fraud schemes. So its up to us if we are really concerned about our own security or not. Never get tired of DYOR. Imho.

If you are somewhat interested to try these kind of investment schemes, then maybe you could consider researching other more reputable and bigger

exchanges or platforms that offers similar investment products in order to further protect your finance. Just treat Yobit as a last option. Imho.

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I suppose that stimulus bill won't bring back the US economy to pre pandemic levels as I think no other country could achieve that feat but it will significantly improved its economic fundamentals. Additionally, the US must first must have zero infections first or be COVID-19 free before it can start gearing for a better economy.

A conservative estimate would be that it might take at least more than a year before such aspirations could be realized. Imho.

Yes of course! I think every country in the world had already suffered from this pandemic that it resulted to weak economies. Weak economies means lesser opportunities for people to strengthen their financial capability which also means they will most likely prioritize spending their hard earned money of the most basic necessities rather than allocating some of it to invest in cryptocurrencies per se.

I think this COVID-19 pandemic will more likely hurt the crypto industry than contribute on its its growth. Imho.

Username: bitsurfer2014
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I know this maybe the hardest thing to do when storing seeds but I think the ideal and the safest way to store them is to memorize them, though it may sound very challenging, it can be done if we only have the will to do it especially if we small number of wallets with significant amount of funds with it. Imho.

Although its not impossible to integrate game engines and blockchain tech altogether, the technical difficulty is very high because MMORPG's is a real time event based system that it cannot wait several confirmations for a transaction / event to successful.

I only see it is more likely that these game developers would most probably adopt cryptocurrencies as in-game currencies, subscription payment, etc... Imho.

Lol, I guess no one in their right mind would trade the safety of his assets for a little incentive such as staking with interest in an exchange since they could also find alternatives to passive earning like staking via their own wallet which looks like more secure and more comfortable. Imho.

As per info from OP article, maybe this could be the real reason why the link shows two different sites.


A diversionary tactic to fool Google's mechanisms.

Too bad, a simple url inspection could have prevented that incident and it was very obvious a .sc country code domain seems suspicious  or better yet, if they have just bookmarked blockchain.com then they wouldn't fell victim to such fraud.

Yet in the lighter side, I think that crypto related website was somehow fortunate that only less than 1 BTC of their fund were stolen, where I think it coud be worst if that wallet have a huge amount stored in it.

This problem could become worst if Kucoin don't have the financial capability or any kind of insurance to refund any lost fund that could amount to $150 million dollars, assuming the hacking incident proved successful.

Moreover, we should expect a mass withdrawal of customers assets and could be fatal to the exchange since it could result to them having diminished liquidity.

I guess it could be more wiser now to send our funds to bigger exchanges that cannot be easily shaken down by these kinds of hacks to keep our funds more secure and with a high chance of recovery.

That is correct! Most of today's mobile antivirus / security apps  are very resource hungry that majority of low-end to mid- range mobile devices owners don't have the required resources as what you've pointed out (e.g. RAM, slow CPU and low storage...) to install good security apps.

Moreover, what is more bothering here is that a significant number of mobile device owners appear to be less security conscious or doesn't have even the elementary skills to enhance their devices security and won't even bother to install security apps - hence creating more easier attack vectors for hackers.

Aside from avoiding any downloading of apps on an unverified site, perhaps its high time to invest a little more on our systems / mobile device's security (e.g. subscribing to popular security apps) that would minimize our chances of being pawned.

If we can't do it, at least we should regularly update any antivirus apps that we have to keep our defences more active.