Risk, Reward and Compliance | Bitcoin Growing Pains

The risks of investing in Bitcoin, arguably the best cryptocurrency, are very high. The likely reward in 10 years for investing $10,000 in Bitcoin today will be stunning. It is clear that there is a global demand for the benefits of digital money.

 

In the article, Bitcoin exchanges can’t stop getting hacked, no matter what security system they use, Joon Ian Wong makes the point that in the near future digital currency exchanges are exposed to significant risk, exacerbated by compliance requirements that increase vulnerability. The recent Bitfinex heist is the 3rd largest Bitcoin theft from an exchange. And it appears to be the result in part of Bitfinex adjusting security procedures to meet regulator compliance after being fined.

About Kirk Tramble

Professional Services ● Technology Leader ● Consultant Software and Energy Industries

Check Also

Blockchain Security | Public vs Private

A blockchain is a distributed ledger.  It is the technology that underlies bitcoin and other …