Topic: Which is the most likely to happen first? - page 2. (Read 1141 times)
Blockchain hack is highly unlikely to happen so it is either government ban or major exchange hack. There are some countries that are thinking of either banning bitcoin or regulating it and since banning it would just likely to make its citizens go under then they would just regulate it so that they can have a share of the people's income through tax. Regarding major exchange hack, it has happened before that is why the advise is to not keep the coins in an exchange because once you do not hold the private key of your coin then it is not yours.
I dont believe that blockchain will be hacked. But one of major exchange websites can be hacked. We have seen that before. And also we have seen goverment ban. Bitcoin has an idea and deas are bulletproof.
In my own opinion, the most likely to happen first is the major exchange hack, because this is not possible to happen, all hacker wants to gets money from this annonymous features, so they cannot track if they do. And the second one is the government ban, most of the country since 2016 are getting involve and accepting this bitcoin but after a certain time (bitcoin price increase) other country are getting banned this bitcoin without publishing reasons, maybe they are afraid of loosing a massive capital currency if this bitcoin become bubble. And last is blockchain hack, it is not possible that this blockchain got hacked, but i think its totally very hard to hack this blockchain algorithm, so for me there is no reason that this blockchain hack will be the most likely to happen first.
Actually, exchange hack can happen anytime or any moment, it should be the first or the most likely to happen first. Government banning of bitcoin comes next in which it takes time for them to decide whether to ban it or to regulate it instead. The last one will be the blockchain hack, who the hell would do that?
Exchange hack is the most likely imho. We already had a pool hack (Nicehash) and Bitfinex is looking shadier by the day with them now "lawyering up" and their inability or unwillingness to produce their Tether bank statements. Bittrex and Poloniex also seem a bit on the Shady side and some of the other small exchanges seem like outright scams.
Actually, the possibility is 3>2>1. But the strongest strength would be no. 2 if US government ban the BTC completely. However, the chance would be impossible. They will try to control it rather than destroy it.
And for eXchange hacking, it is a must and will keep happen again. Therefore keep our assets in a safe place would be the first priority.
And for eXchange hacking, it is a must and will keep happen again. Therefore keep our assets in a safe place would be the first priority.
how to vote on this thread?
it would make it impossible to do some ungrateful job for a human, or repetitive jobs that destroys health, but it would impact the job market, so it would be necessary to set up a universal income
Government Ban and Major Exchange Hack, this is one of the causes of declining bitcoin prices. however, which brings the most serious impact in my opinion is the major exchange hack, because users who store on the wallet exchange will definitely lose their digital coins. the market is sure to be messed up.
I think the market and wallet will be the main target. because the block chain is not possible to hack, I never found a case about block chain hack, because the mathematical alghoritma is difficult to hack. and if that happens, then I guess all block deals will be lost and corrupted.
it is more likely to see the government ban bitcoin rather than being hacked
Exchange hack has already happened and it is familiar to us.But i don't think that it would create a crash in bitcoin price since the network is very big now and situation is not as it was during Mt.gox hack.User volume was very low at that time.
Government ban also could not bring bitcoin price down as we already saw china's actions against bitcoin has not made bitcoin price to fall.
Blockchain hack we have not hear about this until now and i don't know whether it is possible or not.
I don't think that any of these could make bitcoin price crash.
Government ban also could not bring bitcoin price down as we already saw china's actions against bitcoin has not made bitcoin price to fall.
Blockchain hack we have not hear about this until now and i don't know whether it is possible or not.
I don't think that any of these could make bitcoin price crash.
In curiosity, I know all of these can hack the price of Bitcoin, but the question is, which in your opinion is most likely to happen first?
Actually i have voted in the poll to choose only one. Something that most likely happen first is goverment ban bitcoin.
My opinion is government will ban bitcoin and major exchange hacked is 50:50.
Can the US Government just shut it down? Like they did using the DoJ with online poker? Even though it involved the entire world they seized everyone's accounts. I feel like the USA in general is cool with being the world police and if crypto threatens the US Dollar I see them stepping in and taking control of major facilitators like coinbase. And just shutting shit down basically until they come up with their own crypto currency. I think each government will probably try to make their own
Just voted in the Poll, and clear winner is "Exchange Hack" and I think definitely this could be the reason in lowering of Bitcoin's value as other points like government hack and Blockchain hack are less likely to happen any soon. As, many government are currently supporting the system and blockchain is a decentralized and powerful invention of the decade not easy to hacked. Among all the risk of Exchange hack prevails more than anything else.
Blockchain Hack ~ I don't think that this will happen, if blockchain will be hacked it has happened before but I really can't think about this.
Government Ban ~ This is happening already there are some governments that are aware of the popularity of bitcoin and they just want to ban it for life.
Major Exchange Hack ~ happened a couple of time with the well known biggest exchanges.
Government Ban ~ This is happening already there are some governments that are aware of the popularity of bitcoin and they just want to ban it for life.
Major Exchange Hack ~ happened a couple of time with the well known biggest exchanges.
It is quite difficult to answer this question. Blockchain hack is very unlike to happen because this technology is quite secure. If another country as big as China decided to ban Bitcoin, it could slightly affect Bitcoin price but it would eventually recover. Major exchange hack could be critical but let's think about it for a moment. Less BTC by many people is treated as increase in a total value. People would rather withdraw their BTC from exchanges than sell it.
To discuss these 3 probabilities one by one :
1) blockchain hack : yes it can take BTC price down, but I guess the resistance of such technology is high securely moderated , so it won't affect bitcoin mainly.
2) Governments ban : a government of one of greatest market land of cryptos has already banned the use, the hold and the trading of these digital coins, as a tardive result the price has multiplied by 2-3 times what it was at ban time.
3) Exchanges hack : it affects principally bitcoin in circulation, but its influence remains minor, because of the disposability of several platforms which offer the same service so it touches bitcoin just partially.
I can add an important thing that can really take BTC price down : the abundance of its use by crypto community ( which seems to be unexpected & unpractical) but if it happens, it can surely kill BTC
1) blockchain hack : yes it can take BTC price down, but I guess the resistance of such technology is high securely moderated , so it won't affect bitcoin mainly.
2) Governments ban : a government of one of greatest market land of cryptos
3) Exchanges hack : it affects principally bitcoin in circulation, but its influence remains minor, because of the disposability of several platforms which offer the same service so it touches bitcoin just partially.
I can add an important thing that can really take BTC price down : the abundance of its use by crypto community ( which seems to be unexpected & unpractical) but if it happens, it can surely kill BTC
In curiosity, I know all of these can hack the price of Bitcoin, but the question is, which in your opinion is most likely to happen first?
None of the results could bring the price of Bitcoin to no value. If I had to choose something from that poll then I would pick the Major Exchange Hack.In curiosity, I know all of these can hack the price of Bitcoin, but the question is, which in your opinion is most likely to happen first?
Hi there Filmmmakerr! I think you could add another option there, when the mining pools are hacked. I think two of those events have already happened in the past. And what happened is a major declined in price, the Mt Gox hack for example bring the most major price decline. That is why I vote for No. 3. While the government ban just what happened in China several months ago also signal the price drop but not as devastated as the Mt Gox. The first one, I think it is next to impossible but theoretically doable and I never heard of the whole network been hacked.
In curiosity, I know all of these can hack the price of Bitcoin, but the question is, which in your opinion is most likely to happen first?
FOR me the most realistic would be the government ban as it is domething that we can see taking effect now and it really has a lasting effect on where cryptocurrencies would be on the future and that is something to be caustious on. As they control the market too in a way
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