Topic: Bitcoin's threat (Read 386 times)

I think that's not a threat, Bitcoin is the strongest and most popular coin that continues to grow. It may be that you think it can happen, investors split the money, but surely there will be new investors who invest money in bitcoin. Bitcoin is the strongest coin and will be an investment choice.

I think it is quite good that there are other cryptocurrencies being developed as it opens innovation for the blockchain technology. ALso, even though there are others, investors will not forget about bitcoin as it is still king in the current market.

I really don't think there is any threat that any other cryptocurrency poses because we have all seen how fast the new cryptocurrencies are used and forgotten.. its.. been something that's going on since a very long time and I don't think that any new currency might take over the market of Bitcoins .
Anyways because it's improving .. the segWit addresses are really doing great in making everything easier and faster...

 I don't think that a new coin can be a threat to bitcoin, bit coin has its own popularity already, compared to those new coins. Bitcoin are the most commonly use token in the world already,

Five risks associated with owning bitcoins
Volatility
5 Bitcoin risks Like other Bitcoin crypto currencies, it is extremely unstable and volatile, even more than stocks. While maintaining high volatility, the coin is constant in the trend towards growth, but this does not mean that it can not collapse suddenly. The cause of Bitcoin's fall can be both a ban on the legislative level and "overheating" of the market. A price reduction of even 20% will surprise investors, although from the first day of the year they earned more than 900%.

History has shown that the higher the growth, the more significant the correction. Therefore, Bitcoin owners must take this risk into account.

Cyber ​​attacks
The storage of Bitcoin in an online wallet, exchanger or exchange - will not provide confidence in the security of encryption facilities. Reuters reported that the exchange of crypto currency was hacked and the platform had to close its business due to a lack of virtual currency.

Store Bitcoins on the online exchange - a serious risk.

Attacks from quantum computers
In early November 2017, a group of experts sounded the alarm - the blockchain Bitcoin could suffer from the attack of quantum computers in ten years. New transactions for hacking will be carried out by 2027.

In order to have the maximum possible understanding of crypto-currencies, be sure to read the information about what a blockage is.

Many of the existing Bitcoins accounts and all new transactions will be in danger in ten years, you need to make decisions now.

51% attack
One of the real problems for Bitcoin is the so-called "51% attack". Under the scenario, only one organization will control 51% of capacity. Such an organization has the ability to manipulate a Bitcoin blockchain by blocking transactions or doubling Bitcoin. In this case, the entire specialized system will collapse.

Do you think that this is just a theoretical threat? Do you know what is the distribution of hashing power for today? The five largest pools for mining produce 70% of the hashing capacity in general. There are three large miners - AntPool, DiscusFish and Bitfury. They joined forces and reached the fatal level of 51%.

A loss
Once lost, Bitcoin can not be retrieved. And this also applies to operations - after confirming bitcoins can not be removed or canceled.

Already more than 3.8 million bitcoins were lost forever, and this is 23% of the total.

In 2009, James Howells, a specialist in English information technology, at his home namaynil 7500 Bitcoin without much effort. Then he threw out the hard drive of Dell laptop. Today, a hard drive worth about $ 75 million continues to be among the garbage in the Wales dump.

Yes of course, if there are currency that worth the same as bitcoin, people will tend to choose the currency they like the most.
Maybe they prefer the newest currency, or they will stay with bitcoin because they already invest in btc for long time, or they maybe will choose the other one who have greater prospect and better future
Anything may happen, but for now nothing can be compared with bitcoin yet, maybe eth but still not reach that amount yet. But we don't know what may happen in the future.

A lot of investor keep making their own coin like in ICO but they can't surpass bitcoin because people know that bitcoin will always be on top.

It is a good thing I think because new coins in the market means new healthy competitions. Investors will be very happy to see new coins and to invest with. Just be cool and always think positive. Bitcoin is already in the market and has placed itself in the stardom.

That would not happen i guess. As of now there is no currency equal to the value of bitcoin and even in the reliability, there is not such thing that is a threat to bitcoin. Yet everything is posible since cryptocurrency is unpredictable, but for me it would be devastating if there is a threat to bitcoin's standpoint in cryptocurrency.

There is always a certain presentation about the project that can swallow the victory of bitcoin but still it remains in the air. So let's see this one.

A threat is something that we cannot avoid even in everything that we are doing, and if dumping of price was for us is a threat, then how we can become successful if in ourselves we are the one thinking of negativity, let yourself just go with the flow, bitcoin is so much risky but if you know the concept and everything for sure we can avoid panicking.

Yes this is what happening right now many ICO's tends to have a competitive significant against bitcoin but not threat at all. We are seeing the creation of many coins in the market but the all time high crypto which is bitcoin cannot replaced by those coins. Bitcoin dominated many of coins for the past years and still being recognize around the world though they have doubts on it, it is still able to cope the trust of the people.

I think this is not a threat to bitcoin but also promotes bitcoin development. The value of the incremental bitcoin pulling the value of other currencies also increased. bitcoin affects more coins. Bitcoin is also the longest virtual currency

Compared to other virtual currencies, bitcoin still dominates. I compare bitcoin with Ethereum. Bitcoin was the first digital currency, while Ethereum was born with the hope of delivering a more complete digital currency, and the Ether was just one of the smartest apps in the industry. So other currencies are not a threat to bitcoin.

The most influential factor, quite clear and obvious, is speculation. Bitcoin speculation can bring in huge profits. The risk of this currency makes it attractive to speculators. If investors move to invest in another virtual currency, this is a threat to bitcoin

Bitcoin already overcomed 9 years, what else can stop Bitcoin for now ?

for now it is difficult to shift the popularity of bitcoin. because the bitcoin in the world of crypto is like gold and the others are like silver or bronze.
but for the next 3 years may be a bitcoin can be matched

I don't think that is a threat, simply because it would take a really advanced coin to show up to remove investors from bitcoin. Let's not forget that bitcoin was the first crypto out there, and it has the biggest team of devs at the moment, which means that it should be hard for someone to come up with something better than bitcoin. Also it has the biggest hashpower dedicated to maintain it's network, so it's also the strongest blockchain out there.

Investors will definitely use other emerging coins for pump and dump tactics, since it gives them great profit, but in the end everyone will come back to bitcoin. Just look at the history. Every time there is a crash in bitcoin, all other coins bleed to, so this means that bitcoin is still calling the show, and it will probably continue that way.

 There are many competitors of bitcoin, but bitcoin still strongly stand, we really knew that bitcoin are made and founded by a very genius person, and we can trust their capability on how to handle any kind of competitors or trouble that comes. Threats are comes anytime, but the solution are always there, only thing we can do are trust and confident to the organizers, of what ever threats comes we know that they can solve it.

As the representative of the blockchain, BTC is the leader of the entire cryptocurrency, which is the first and initial password security. New cryptographic currencies appear every day, but for so long, only BTC has been leading other digital currencies! Other digital currencies pose little threat to BTC!