Crypto News

The biggest threat to Bitcoin in 2020

Will Bitcoin cope with addressed to him the challenges of the world, entered into a turbulent phase in most areas of life. About it share your thoughts entrepreneur, active fan and promoter of Bitcoin Andreas Antonopoulos.

According to Antonopoulos, Bitcoin is quite stable, and in the situation of this year, the list of potential threats to it is not very large.

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Among the first was called the threat “of attack 51%”. However, for such a huge network like Bitcoin attack would require a huge cost and effort for the coordination of actions to gain control over more than 51 percent hash rate yet to intentionally delete or change the order of transactions. The “attack 51%” would not bring much effect since creating coins out of thin air or stealing BTC from users, an unlikely scenario, because transactions check the miners, nodes, exchanges, and vendors.

The second threat is posed by a major disaster resulting in a major failure in supply of electricity and Internet. However, banks and existing financial system will suffer from this far more seriously than Bitcoin. Because the local system is self-financing, the community, which includes miners, operators, nodes, users have very strong incentives for the rapid recovery of the local infrastructure.

In addition, users of the satellite network Blockstream can make transactions using a satellite dish and smart devices, and the Internet connection is not needed. Thus, Bitcoin, above all, needs respect.

Create network problems can also viruses and worms.

Of particular concern to Andrea Antonopoulos cause the actions of governments that try to drive bitcoin underground, changing her tax status and the terms of use. This may force most of the middle class, and speculative investors to abandon cryptocurrencies in General, especially in countries with totalitarian and authoritarian regimes, in dictatorships, where the “opposition to the government is a matter of life or death.”

Source:

cryptofound.com

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