Something quick that's been going on, and that is you may have heard of Binance going offline I think from the last 24 hours or so.d
Binance has been down, and Binance said that they had to stop everything happening on their website until Friday which is today because of a prolonged system upgrade.
Part of the problem is that a lot of people don't understand that these things have to happen, they have to upgrade their systems to make sure that things cannot be hacked but when they do these things people then start to become afraid that the exchange has been hacked and that something is going wrong because apparently there are a lot of people who don't understand when you are dealing with hundreds of millions of dollars on your system and you are controlling and holding all this money, you need to upgrade often or money can go lost, stolen or hacked.
People were talking about it and how scary it was that this was happening and why won't they tell us what's going on etc etc.
The same thing happened to Kraken and people got very afraid that Kraken was completely down and would never open it back again and they had taken all their money and had gone away.
Part of the other thing that's kind of annoying me right now is that really prominent members of the crypto sphere are also doing their part to spread fear, which is very very odd because I think that it shouldn't be happening especially when you have a high position like John McAfee. You probably shouldn't be saying that there are rumors flying around that this may have been hacked etc because it terrifies other people. Other people see this and then they start running around like a chicken with his head cut off telling all their friends how this website has been hacked.
But yeah thank goodness what happened was is that after all of this I think they said the initial time offline should have only taken a couple of hours but they said it would take I think maximum 48 hours after everything because they have found some system failures and they found a couple of other things that could have been compromised so they decided to fix all of this once and for all but of course everyone started panicking.
You might remember about the rumor that the creator of Etherium Vitalik Buterin had died and that spread very quickly and then Vitalik took a photo with Etherium and everyone was like okay he is still alive.
So this is what exactly Binance did, they actually give us their Bitcoin address so we could see exactly how many Bitcoin they have in their possession. And they also provided us with their Etherium account showing us that they have 189,000 Etherium as well showing that nothing has been compromised and that they are still doing okay.
It is good that they did this because the community is kind of becoming very toxic very fast, it's almost like people were cheering over the this that they might have been hacked and down and someone was telling them the truth. It's very odd what's going on everyone's becoming like a clan for their coin and for their exchange. It's very weird what's happening but I hope this doesn't go on much longer because it's not very good for the entire space.
Thanks for reading
