Topic: Bitcoin security in the long term (Read 754 times)
I am very sure that bitcoin will still return to the highest price as it did a few years ago, but the question is whether bitcoin will be able to survive for the long term if this happens then I will never want to sell bitcoin when it is at the current price In this case.I will choose to survive if indeed this can happen as stated in the public.because we really hope that bitcoin is able to survive in the long term of security
When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
If you mean that miners will not be interested in providing us with security and network,I think that they will still be interested in it. To my mind, when Bitcoin reaches its max total supply, miners will get just our commissions for running our transactions, but not new bitcoins as they do now. So there will still be people who want to be miners. To sum up, we shouldn’t be scared. Yes, it's not like bitcoin gets it's security compromised when all the coins are mined. Plus, if it has stayed like this for a decade, I think that we can assume that it will be like this for a really long time. Plus, there will always be developers that's going to improve the network.
of course from something that is very popular and increasingly in demand.. will continue to be supported and cared for as best as possible, there is no way bitcoin will lose its security. We currently don't need to doubt that, bitcoin is the hope of all of us. When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
If you mean that miners will not be interested in providing us with security and network,I think that they will still be interested in it. To my mind, when Bitcoin reaches its max total supply, miners will get just our commissions for running our transactions, but not new bitcoins as they do now. So there will still be people who want to be miners. To sum up, we shouldn’t be scared.But this is not what the OP has meant, he just thinks and doubted what will happen if the total market supply of Bitcoin will be mined? But I don't think this could wipe out the security we have and I have no doubt about that. As we are using blockchain technology no matter if we all mined the 21m, there is no reason why it makes Bitcoin unsecured.
Yes, it's not like bitcoin gets it's security compromised when all the coins are mined. Plus, if it has stayed like this for a decade, I think that we can assume that it will be like this for a really long time. Plus, there will always be developers that's going to improve the network.
The blockchain system also has a series of unique technical risks, such as vulnerabilities in smart contracts, such as attacks on consensus mechanisms, such as attacks on cross-chain and oracle data.
In terms of preventing the risks of the blockchain system, in addition to formulating technical standards, building a management and supervision technical system for blockchain systems and applications; improving laws and regulations to address the risks that may be faced by the application of blockchain in different industries at the level of laws and regulations Make specifications.
In terms of preventing the risks of the blockchain system, in addition to formulating technical standards, building a management and supervision technical system for blockchain systems and applications; improving laws and regulations to address the risks that may be faced by the application of blockchain in different industries at the level of laws and regulations Make specifications.
Hypothetically, miners will continue to secure the network and get paid with transaction fees once the last Bitcoin is mined in 2140. And all transactions on done on the blockchain will still continue to be recorded by the nodes. Well since we all we'd be dead by then, it's something I don't want to worry about for one second 😁
Bitcoin will still exist in the secure network. As long as it is profitable, miners will continue to hash and process transactions, and transaction fees will still exist.
Over time, the network will be much safer than it is now, and it will be less vulnerable to attacks. It will be balanced by transaction fees in some way.
Over time, the network will be much safer than it is now, and it will be less vulnerable to attacks. It will be balanced by transaction fees in some way.
When the maximum supply is reached the network won't experience high difficulty as now. As the transaction fee is the only source for the miners, this will serve as a value storage network. For this reason the development won't get disturbed. Same as now, the development will be happening as other cryptocurrencies too have a connection with the bitcoin network. Once the entire number of Bitcoin is mined the network will go even strong in security.
When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
Bitcoin was already a stable and secured network which has been tested many times, yet many controversial issues from different opposing groups who wanted to grab btc down but failed so much. They didn't want bitcoin to be recognized, and what's happening now is a big slap to their face.
All the proofs have been given to all individuals who's still having doubts, so I advise to have short reviews at coinmarketcap and you'll see it as # 1 in the rank.
When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
CMIIW if it reaches max supply miner only mining fee. and it seems that what happened will also be the same as what is happening now . I am not really expert in bitcoin developing for that question. but what makes you think the bitcoin network will be more vulnerable when it reaches max supply?
I think bitcoin have already better security. and I hope Bitcoin will be more help higher and unique technology. Many people and investor use bitcoin so It's safe fairly. And The network protected by nodes.And I hope bitcoin security will be more updated in future.
maybe bitcoin should also have better security considering that in the future technology will be more sophisticated. in the long term the technology will be more updated. but it depends on the bitcoin system chain whether it can do more sophisticated security or not
The security of Bitcoin depends on whether and how many people are using Bitcoin, that is, whether transaction fees are sufficient for mining activities. As long as people use Bitcoin, it will remain fairly safe.
The network is protected by nodes, and many miners are running nodes. They will be encouraged to continue to protect and update the blockchain in exchange for the payment of transaction fees associated with each block to ensure the security of Bitcoin.
The network is protected by nodes, and many miners are running nodes. They will be encouraged to continue to protect and update the blockchain in exchange for the payment of transaction fees associated with each block to ensure the security of Bitcoin.
We have to be vigilant because there are many malicious programs that want to steal bitcoin, I once copied the bitcoin address and then wanted to paste it, it turns out that the bitcoin address is different, if you find the same thing then immediately cancel the transaction and close internet access because the PC has been hit by a malicious program.
I don't think the Bitcoin ceiling will be attacked. Computing power is the key to protecting Bitcoin's security. The higher the computing power, the safer Bitcoin. When the Bitcoin mining supply reaches its maximum, there will be more nodes distributed all over the world, and more miners will be distributed all over the world. The Bitcoin network should become more and more secure to ensure that the longest chain has all The maximum workload of the network is therefore not easy to be modified and attacked. If you want to reach 51% to attack Bitcoin, you need very large financial support, which is more difficult. So in the long run, bitcoin will still be safe.
When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
if that is possible all 21mil total supply will be mined someday, it leaves us no choice but to share it all. And the fact that Bitcoin still exists in the hands of the holders (excluded those lost numbers) miners could still be compensated. Those Bitcoins that have been hacked still can be used but not sure those Bitcoin's have been seized by the authorities. What worrying scenario is that if all has been out of control or it wasn't used already. learning how to secure the remaining Bitcoins in the market is very important and we have to take some responsibility for it otherwise, we are just helping the market to collapse.
When Bitcoin gets to a stage where the mined supply is basically 21m (that is, very little remaining btc left to be mined), will Bitcoin still remain a secure network?
all 21m btc will be mined in 2140 , thats 119 years from now .
that time the computers are now super advanced and who knows maybe they can now be able to crack btc private keys ? but thats is something thats not our problem anymore because i think we couldntlast that long
The security of Bitcoin depends on whether and how many people are using Bitcoin, that is, whether transaction fees are sufficient for mining activities. As long as people use Bitcoin, it will remain fairly safe.
it is ? well we have nothing to worry then because the btc users doesnt go down but it only goes up and when more people are using btc ,
the value and the mining fee are also going up .
The security of Bitcoin depends on whether and how many people are using Bitcoin, that is, whether transaction fees are sufficient for mining activities. As long as people use Bitcoin, it will remain fairly safe.
The network is protected by nodes, and many miners are running nodes. They will be encouraged to continue to protect and update the blockchain in exchange for the payment of transaction fees associated with each block to ensure the security of Bitcoin.
The network is protected by nodes, and many miners are running nodes. They will be encouraged to continue to protect and update the blockchain in exchange for the payment of transaction fees associated with each block to ensure the security of Bitcoin.
maybe the current level of bitcoin security.can be said to be very strict.from the usual thing, because bitcoin not only needs.high security.but really needs.a very long time process.for a business.this must.always be considered by everyone for a safe very high. maybe this step is.very appropriate and needs.to be done for the future.process
if 21 million bitcoins have been mined there will be no effect on the security of blockchains but what is clear is that the nodes continue to grow and most likely transaction fees will increase because miners only get rewarded from the total transaction fee for 1 block
maybe you can learn more details first
maybe you can learn more details first
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