The fight versus Bitgrail and Nano is heating up, and it has now become a battle of who is right and wrong! First off, for those of you that don't know, a few weeks ago there was a giant hack on the Bitgrail exchange to the tune of 200 million dollars. 200 million dollars made up of Nano coins. So as this kind of hack has become fairly normal in the crypto space, the resolution of this one has become more tense and difficult on the community.
Furthermore, after this hack on Bitgrail, the founder named Firano made a controversial statement that Nano should modify their ledger to make up for all the losses in the currency. Which in my opinion is one of the most outrageous statements I have ever heard. This is because cryptocurrency is meant to be decentralized, and most of these currencies are supposed to be finite. In this case Nano has a max supply of 133 million. So if they just change the ledger, it goes along with what famed investor Charlie Munger said "Man has a way to create more cryptocurrency". Like there is nothing that make me shake my head than the manipulation of the core values cryptocurrency has.
Despite this outlandish statement though, Nano has already come out and seems like they don't want to change the ledger at all. The fight between them has been gaining more tension in result. For example, Firano himself blamed Nano that they did not implement their timestamp technology into the currency fast enough to stop the hack. Then again, Nano has proved him wrong as they just recently before hand fixed their timestamp technology.
If you ask me, it really looks as Bitgrail is just trying to cover their butts, and arguing with Nano to make them look bad. So all the accusations that have been increasing in number gets me thinking that Bitgrail just wants to default the blame off them. Showing that they really can't handle the responsibility and the security that a cryptocurrency exchange needs. It does seems like the investors of Nano, and the creators of Nano are the real losers in the end. Looking like the money will never be returned, it is not their fault in this case. Once again steemians, I'll keep you updated on this issue, and see you in the next post!
🔴Thank you for reading my post! I hope you guys enjoyed, and I'll see you in the next post! Feel free to ask questions or comment/upvote! 🔴
-Crypto DJ
