Stock Market Thread

[WRXtranceformed]

And then a bitcoin exchange gets hacked and $64 million in bitcoin gets stolen...

https://www.reuters.com/article/us-cyber...SKBN1E10AQ

Texts from my brother this morning:

You know you're dealing with a bubble with bitcoin when an exchange is hacked and $70M is stolen and it is still up 9%
Tell me how that makes any rational sense
So my investment can be stolen by hackers easily and that's a good thing?  Let me buy more?

Well, if it can be stolen by hackers that's bad, but it also can't be regulated by government, (other than criminal penalties for it's use) which is good. 

Ultimately, it isn't really any different from Gold. If someone breaks into your house and steals your gold, you're SOL. If you have a soft wallet, that's basically what happened.

Except legitimate financial institutions are backed by insurance and a lot of legal regulations to prevent your money from actually disappearing if a bank got hacked.  

The analogy makes sense if you had your crypto in a physical wallet stuffed in your safe where it would be vulnerable to anybody willing and able to steal it like they would anything else you own.  The point of a banking system is to have a safe place to keep your savings and investments that isn't stuffed under your mattress or buried in your yard. It's pretty clear that these exchanges aren't "safe"