Post
Topic
Board Economics
Re: Economic effects of bitcoins
by
Gozie51
on 25/09/2017, 16:21:42 UTC
I was just thinking that since Bitcoins is 100% on the internet, what would happen if the whole world adopts it and 20M bitcoins gets stolen by a genius similar to what happened to Bitfinex?

It is very possible that a genius may hack majority of bitcoin.  But that act alon will make all his effort in vain in hacking the majority of bitcoin.  Reason is that, bitcoin will automatically fall in price until to the point of being worthles.  Support will be taken away because it shows that bitcoin is a failure.

Nice analysis. Off course, when there is nothing to chase again about bitcoin, it will drastically depreciate and worthless. Meaning, it won't be useful to the hacker. The hacker might probably unveil his veil because of frustration.