All in good time, profits before understanding technology?

These periods of euphoria are not conducive to the development of technical and ideological knowledge about Bitcoin, cryptocurrencies and blockchain. However, gaining new knowledge about the underlying functioning of this ecosystem remains essential.

Take advantage of the price increase

We are currently in one of those periods where the price of Bitcoin Hero is multiplied by two, three or even ten in the space of a few months. These times when cryptocurrencies without any interest, no future and only infused with marketing take several thousand percent. These are favorable situations for investment and profit taking .

In these cases, it is often more profitable to follow trends, to position themselves on very popular projects to make a profit rather than to be interested in the underlying technology. Spending time doing the day before to identify the projects most likely to see their price increase often pays off.

Even though, in reality, at such times, anyone can make money . However, you have to be careful not to be too greedy and take profits on a regular basis. Indeed, the market can turn around at any time and your potential earnings melt like snow in the sun .

Back to basics

Stock up, secure your winnings. They will allow you to weather bearish periods with much more confidence and serenity. Getting back to basics and understanding technology usually comes after speculative madness.

While the majority of small holders resell their cryptocurrency at a loss after buying at the highest point, they promise to never touch these things again. However, a portion of these investors remain.

Be one of those resisters and make the effort you should have made before you started investing. Bitcoin and cryptocurrencies bring real technological, societal and financial advances. Understand them, increase your knowledge and even participate in the development of these networks. Set up a Bitcoin or Lightning Network node, learn how to develop on Bitcoin or Ethereum… The list is endless!

Deepen your knowledge

If you’ve been interested in Bitcoin and cryptocurrencies for the potential gains, no shame. Most of us have been there.

However, when the euphoria subsides and crypto analysts and experts slowly disappear, don’t give up! Take the opportunity to dig deeper and fall further into the rabbit hole.

These quieter times are the perfect times to learn more about the history, ideals, and workings of cryptocurrencies.

Fortunately, you will be able to get through this long winter thanks to the profits made during this better period.

Transactions from the last 200 days deleted from the blockchain

Hack attack on Verge: transactions from the last 200 days deleted from the blockchain

Verge has fallen victim to a major blockchain reorganisation. Six months of transactions and balances were deleted. Developers say that can be fixed.

Privacy-focused blockchain network Verge (XVG) has fallen victim to a significant block reorganisation in which transactions were replaced. This reorganisation dates back to July 2020.

Although it is potentially the „deepest reorganisation ever seen on a top 100 cryptocurrency“, analysts have not yet confirmed that the incident is a coordinated attack.

Coinmetrics operations manager Antoine Le Calvez was one of the first to notice the reorganisation and shared a screenshot on Twitter. This showed that at least 560,000 blocks had disappeared on 15 February.

Looks like $XVG (Verge) experienced a massive 560k+ blocks reorg.@coinmetrics‘ node is on a new chain whose last common ancestor with the previous chain dates to July 2020.
– Antoine Le Calvez (@khannib) February 15, 2021

Le Calvez suggested that the reorg could have been caused by a double issue. This involves a number of XVG tokens being used Crypto Engine simultaneously for two separate transactions. However, due to the scale of the incident, Calvez acknowledged that it would take some time for developers to comb through the data to track down the exact source of the reorg.

As a result of this rollback, all users who have received or purchased XVG tokens since July 2020 may have lost all their funds. Deribit Insights researcher „Hasu“ tweeted that „thousands of holdings just evaporated“. One Verge investor tweeted that his wallet balance was now empty after the attack.

Despite the scale of the potential attack, Hasu believes it will be „fairly easy to counter“. He said one could „reject the attacker’s chain nodes and restore the previous one“.

Hasu said the incident highlights the vulnerability of blockchains based on GPU mining

This is not the first time a reorganisation has been proposed to defend against potential attackers. Hasu points to 2019, when Vertcoin was the victim of a 51 per cent attack. In the same year, major exchange Binance was hacked and over US$40 million was stolen. Founder and CEO Changpeng Zhao then suggested a Bitcoin reorganisation to recover the money. But that idea was scrapped.

In an unconfirmed screenshot shared by Twitter user Crypto_Michael, XVG advisor AlexanDre stated that the source was connected to some kots who wanted to bring about a fork. He also added that there was no 51 per cent attack.

In the last six hours, XVG has fallen nearly 15 percent to US$0.0224. This has caused the coin to fall out of the top 100, according to Coingecko. Verge’s explorer is still offline.