Bithumb's 620,000 BTC Copy? The Incident Reveals the (Real) Importance of Bitcoin loan**: Even Bithumb employees can create tens of trillions of Bitcoin out of thin air if they so choose... Does that mean they can create 620,000 or 6.2 million? Haha. They could easily create even 0.001 won in an instant. The recent Bithumb "misdelivery of 620,000 Bitcoins" incident dramatically demonstrates why Bitcoin was created and why it remains so important. The danger lies not with Bitcoin itself, but with the intermediaries. The Bitcoin printed on an exchange account doesn't represent the actual Bitcoin (existing on-chain). It's essentially more like an "IOU." For example, if a certain exchange prints 1 million Bitcoins on its ledger and then dumps them, would Bitcoin fail? In fact, the opposite is true. People will withdraw their Bitcoin, and exchanges that lose their solvency and trust will fail. Ultimately, what's collapsing isn't Bitcoin, but the intermediaries that have lost trust. This is the same structure as traditional finance. The banking system we use also moves far more numbers on the ledger than physical cash. The problem isn't Bitcoin, but the systemic risk of the humans who manage the centralized ledger. Bitcoin was created to solve this very problem. If they wanted to, they could create tens of trillions of fiat currencies that don't exist... Does that mean they can create 6 trillion, 60 trillion, or 600 trillion? Haha (But they're already doing that.) 1 BTC = 1 million could easily be created in an instant.