Post
Topic
Board Bitcoin Discussion
Merits 1 from 1 user
Re: The risks of using Bitcoin
by
dzonikg28
on 11/08/2021, 09:24:31 UTC
⭐ Merited by Kimberl2020 (1)

  • The risk of Policy
  • The risk of the law
  • The risk of Substitution
Quote
This is a systematic risk, and it is difficult for individuals to avoid it.
  • The risk of Speculation
  • The risk of  Money laundering
    We can control these two risks ourselves. This is not all risks, you are right, but also opportunities. Investors can profit from it.

    The risk of advancements in technology to crack cryptography is probably another one. I don't know how severe that problem is and people say the algorithm could quickly be adapted, but if somebody cracks the algorithm I doubt that will ever become public knowledge until the harm done is really extraordinarily big. There are a couple of threads discussing the influence of quantum computing with pros and cons, but assuming that Bitcoin's algorithm might stay strong forever may also be naive to believe. [/list]