Showing posts with label How can bitcoin fail. Show all posts
Showing posts with label How can bitcoin fail. Show all posts

Thursday, August 16, 2018

How can Bitcoin fail?

  • Bug discovered or coding error
  • Encryption broken
  • Hacking attack on Bitcoin nodes and Wallets
  • Internet access cut off for countries - undersea cables and satellite
  • Malware / virus deletes blockchain on nodes
  • New cryptographic discover renders Bitcoin obsolete
  • Not physically backed asset - e.g. Gold (even though energy used)
  • No real use case
  • Quantum computing breaks encryption
  • Regulation by Governments with tax policy
  • Regulation by Central banks not allowing Fiat into the Bitcoin ecosystem and out of the Bitcoin ecosystem
  • Satoshi Nakamoto identity revealed or sells Bitcoin
  • Trust issues - no trust, no confidence, trust broken

Instead of being 40 and wishing you were 20 again... imagine you are 90 years old

Instead of being 40 and wishing you were 20 again, imagine you are 90 years old, looking back at yourself today at 40. What would you tell y...