I did not expect what is seen lately with bitcoin, there is no choice anymore, I adopted it and should be adopted by those who believe in gradual aging and new world. Bitcoin created the road where other cryptocurrencies are passing and building all sorts of programs upon.
Can't it be destroyed?
I will not believe this, it can't be destroyed. I have some considerations.
1)
Government: No power of supremacy can be abused here. The government doesn't have power over it because it is not controlled by any central authority. The selflessness of Satoshi Nakamoto made sure of this by not giving room for manipulations.
2)
Hacking: Getting to know of many hacking stories of the past about bitcoin was confusing, but none is about the direct bitcoin network but websites and wallets housing it. Most of the websites hacked are custodial, I don't like them.
Not that it is completely impossible to hack the bitcoin network but the needed condition to do so seems impossible to meet. For the proof of work blockchain (PoW) like it, it will take the hacker a very high computing power to take half of the blockchains network before manipulation will be possible. No person or group of person and government can get to the arrangement because this computing power is widely spread.
3)
Future: Bitcoin future keeps shining brighter, it came into the lead like a play, it will continue to grow in adoption. Considering the regulation, government will try more and will want to use alts against it but the
truth and
uncompromising decentralization of the cryptocurrency will speak for it and make it win.
It will get to a time in the future when bitcoin will be the only cryptocurrency the world can trust.
Reference: https://worldcoin.org/articles/can-cryptocurrency-be-hackedCryptocurrency is a great invention, which is able to make money networks decentralised. But it is not yet the main technology of IT-banking, and it has some vulnerabilities. First, the decentralised operations with so large amount of data inevitably leads to forking-type failures. Then there is a problem with psychological acceptance: even notable currencies (BTC, ETH) are still not considered as "money" by ALL people. In the vision of all people cryptocurrencies are either "a project which is to be launched full scale in a couple of centuries, and I want to be rich now, so l'm just gonna earn some fiat by trading crypto, since I like lifestyle which large sums of fiat bring", or "some thing that IT staff develops, I'm not interested, my business is not connected with it". Third, it can bring decentralisation of mining sites, or even it can have no mining at all, but it can't bring decentralisation of money distribution, and worldwide money distribution is the worst thing in economy now.