Bithumb Hack Doesn’t Change the Basics of Bitcoin: Opinion

Charlie Lee, the Litecoin founder, claims, that even though Bithumb was hacked, it doesn’t change Bitcoin fundamentals as well as its price. Well, about the price though…
Bitcoin price has dropped after the hack, and this is rather logical. Lee explains, that this is normal reaction of people when they get to know about the hack.
However, the actual bitcoin value isn’t influenced. It is the same, for example, as gold. Even though if a bank is robbed, the price of gold will not drop because of this.
If cryptocurrency exchanges aren’t able to provide proper security measures for their coins, it doesn’t mean, that the coin has problems. It means, that rather a cryptoexchange has problems.
Regarding bitcoin, Lee explains, that the bitcoin network has improved significantly during the last year. The price of the coin stabilized and is going to grow.
For now, the main task of the cryptocurrency exchanges and the users is to learn to protect their crypto-coins more than common coins, but nothing than this.

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