SCREW BITFINEX!!!
Now that the news has been broken for more than a day, I'm sure you're wondering how the crypto community will cope with yet another hack. Almost instantly, Bitcoin dropped below $500 USD, briefly hovering in the $490 range! Thankfully, it has risen back up to around $570 USD.
HOWEVER! WE CANNOT KEEP BEING SUBJECTED TO WILD PRICE SWINGS DUE TO CENTRALIZED EXCHANGE INCOMPETENCE!
Mt. Gox, Poloniex, BitStamp, and now BitFinex! There are probably more examples... [Cryptsy?!] These things will keep on happening so long as people keep depositing their coins and money!
It isn't your fault that the exchange got hacked, so why do you need to suffer a drop in price due to something avoidable?
The answer is, you don't. Well, you WON'T in the near future.
Crypto users need to migrate to decentralized exchanges. These exchanges help keep your assets secure, as your balance on the exchange is backed up via the blockchain!
The only reason these centralized exchanges still exist, is because traders don't really know about dEx's. But thanks to STEEMIT, we can help inform crypto users of all the options available to them!!
BitShares is an exchange you can use for this. NXT also has a digital asset exchange as well.
Personally, I can't wait til WAVES DECENTRALIZED EXCHANGE comes out because it will have a simple and easy to use interface that non-techy users can enjoy. There are even plans to allow MARGIN TRADING! So the only real reason big exchanges had for keeping you around won't matter anymore now that you can trade SAFELY thanks to Decentralized Exchanges!
So remember, once you figure out which decentralized exchange is right for you, make the move. Vote with your money! Hackers don't care that you're a nice person, they just want to take your money. Do everything you can to keep it safe! Use a decentralized exchange!
Find out more about Waves Platform here https://wavesplatform.com/ and more about BitShares here https://bitshares.org/