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The Latest Digital Gold Rush, Cryptocurrency, But What Exactly Is It?

First rule of bitcoin is to not talk about bitcoin

Be Careful

BitcoinHacker - The Latest Digital Gold Rush, Cryptocurrency, But What Exactly Is It?
Image via Medium.com

 

Unfortunately because cryptocurrencies are completely online, they can be manipulated by hackers who know about your bitcoins. This is why many people say the first rule of bitcoin is to not talk about bitcoin. You never want anyone to know what type of cryptocurrency you use and how often you use it. You can lose it all with just one text message.

One online user recently posted a story on the website Medium about how they lost $8,000 in bitcoins. It all started with one text on his cellphone that appeared to ask him about his cellphone service. From that point, it escalated. Before the user knew it, his account passwords had been changed and $8,000 had been stolen from his account. He was completely blindsided. Furthermore, because there is no bank or insurance company that can be held responsible, there is no way to retrieve the money.

Written by Sasha Michaels

A long time writer based in Chicago with a degree in Aerospace Engineering and a minor in Political Science. Professionally writing since the age of 13, I cover topics I'm most passionate about - relationships, travel, health, and of course, politics.

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