After being restricted on Twitter, Scott Melker, AKA the wolf of all street, decided to talk about why one should not be dependent on a centralized social media platform. His Twitter account has not been fully accessible, and he has not been able to post for almost a day following the epic hack on some accounts with the blue tick.
In a live interview with the Cointelegraph on the 15th of July, he mentioned that he has not been able to verify his account using two-factor authentication. Afterwards, Melker was only able to retweet, read, and post briefly for approximately 1hr before his account was restricted due to the interview.
A report from Twitter support said the platform locked those accounts because they were compromised, and owners would soon be granted access. Big accounts with blue tick are back online, the likes of Joe Biden and crypto exchange Binance but Melker's account and the rest remain restricted.
Mr Melker said the new hack on Twitter that caused the platform to restrict all verified accounts is one of the problems of depending on a particular platform. He said that whoever depends on a platform controlled by a single authority is at risk of being locked out at any point in time.
The young man also stated that platforms like twitter are a single point of failure, and users cannot depend on them.
The Twitter accounts that were hacked were used to send messages in order to scam several followers into sending BTC or cash assuring them they would get a two ratio one return. The crypto trader said it was a weak hack effort, and they could have just created a war instead of trying an old scam that would possibly fail.
Melker sees the hack as a 'Twitter' problem, not Bitcoin. He said the market would have already seen a "super knee-jerk reaction" fairly quickly to the BTC price. Bitcoin did drop 1.4% several hours after the first hack from $9,191 to $9,058, but there was no visible surge or downturn when the attack was going on.
In Melker's opinion, one possible backwash is the public starting to think Bitcoin is a scam. He said it would be another great problem to defeat when you try to explain to anyone why they should take Bitcoin seriously.
He stated in one of his last tweets on the 15th of July before the restriction of his account, "Imagine having companies and powerful people all over the world angry at you at the same time".
Source: Cointelegraph
