Is it possible to hack Bitcoin?
🔸 Cryptocurrency critic Peter Schiff wonders whether the recent hack of verified profiles on Twitter is “a harbinger of Bitcoin itself being hacked.”
🔸 In a July 16 tweet, Schiff mentioned yesterday’s mass hack of verified Twitter profiles which were used to promote a Bitcoin scam, further suggesting that it could be a prelude to a hack of the cryptocurrency itself.
🔸 Analysts and crypto experts did not agree with Peter Schiff's suggestion, noting that the scammer’s decision to use Bitcoin was probably motivated by authorities inability to censor and reverse Bitcoin transactions. Also, many experts recalled that it is almost impossible to crack Bitcoin - this cryptocurrency has a decentralized protocol, thousands of nodes, everything is transparent and auditable. All of those features make the network much harder to hack than Twitter.
🔸 Cryptocurrency critic Peter Schiff wonders whether the recent hack of verified profiles on Twitter is “a harbinger of Bitcoin itself being hacked.”
🔸 In a July 16 tweet, Schiff mentioned yesterday’s mass hack of verified Twitter profiles which were used to promote a Bitcoin scam, further suggesting that it could be a prelude to a hack of the cryptocurrency itself.
🔸 Analysts and crypto experts did not agree with Peter Schiff's suggestion, noting that the scammer’s decision to use Bitcoin was probably motivated by authorities inability to censor and reverse Bitcoin transactions. Also, many experts recalled that it is almost impossible to crack Bitcoin - this cryptocurrency has a decentralized protocol, thousands of nodes, everything is transparent and auditable. All of those features make the network much harder to hack than Twitter.
Peter Schiff's has no idea what he's talking about. It is likely that he is simply hyping due to the fact that he constantly criticizes Bitcoin. Because such nonsense is very difficult to say by accident.