Re: BlackRock show concern; Says BTC Source Code Could Be Rendered Flawed
Why is BlackRock so concerned about Bitcoin's code, but not at all worried about the money sitting in their bank accounts? Both BTC private keys and fiat account access are protected by the same class of cryptographic algorithms.
If I had a quantum computer, I’d start by cracking bank accounts — simply because that’s where the bigger money is.
For me, it's because any compromised private keys immediately result in irreversible loss, unlike bank accounts that have institutional safeguards like fraud detection and legal recourse.If I had a quantum computer, I’d start by cracking bank accounts — simply because that’s where the bigger money is.
So for sure, if you are a criminal, maybe you may have a high chance of not getting caught using cryptocurrencies like Bitcoin and at the same time having difficulty to success too.
Maybe you are right, but still - I do think first targets would be something bigger than BTC, and what's bigger than said amounts in the banks, even if they are protected, such groups (hackers, etc.) are already hiding themselves good enough to continue to do what they do..