My Latest Attempt at Clearing Bitcoin Ignorance 😗😏

One of the biggest news item in the cryptocurrency sphere is the so-called South Korean "bitcoin hack" that occurred over the weekend.

As a result, several bitcoin and altcoin investors panicked out of their positions.

However, I believe this mass action was completely unnecessary. In reality, this wasn't a bitcoin hack, but rather, a theft of cryptocurrency assets from a small crypto exchange.

My latest piece about the blockchain markets will likely be published tomorrow at InvestorPlace.com

In my article, I discussed several contributing factors that led to the recent volatility in the blockchain markets. Primarily, I blame bitcoin ignorance.

I point out that the virtual-currency markets are still very young, and as a result, they're prone to overreactions on largely inconsequential news.

I also make the case that it's important to distinguish between a bitcoin hack and an exchange hack. The latter is essentially theft; yes, a high-tech theft, but theft nonetheless.

The former is a critical attack on the very foundation of bitcoin (or any impacted altcoin). Often called a 51% attack, this would cause panic, and for damn good reason!

However, the South Korean hack is "merely" a theft. Yes, it's a serious problem, but nothing to get overly worked up about!