In the annals of cryptocurrency history, two major incidents stand out: the Mt. Gox debacle and the Ethereum DAO hack. Founded by Jed McCaleb in 2006, Mt. Gox, which began as a platform for trading Magic: The Gathering cards, evolved into the dominant Bitcoin exchange, handling 70% of all Bitcoin transactions. However, 2014 saw its downfall when a massive hack led to the loss of 850,000 Bitcoins, equivalent to $450 million then. The Bitcoin community faced a crossroads: intervene or let the ledger stand. Unlike other communities, Bitcoin chose the latter, upholding the sanctity and immutability of its ledger, even in the face of such a significant crisis.

On the other hand, when the Ethereum DAO was exploited in 2016, draining a third of its funds, the Ethereum community opted for intervention. A consensus was reached to execute a hard fork, reversing the malicious transactions and restoring the stolen Ether.

These contrasting responses underscore a fundamental difference in philosophy. Bitcoin's unwavering commitment to its ledger's integrity, even at the cost of short-term pain, showcases its soundness and resilience. In a world where ledgers can be altered, Bitcoin stands as a beacon of immutability and trust.