I really think that the creation of new E currency is a threat to bitcoin.
Like for example. Some investors may move their investments to other currency made.
If bitcoin for example has 100 investors in all, then several currency is made with the same value as bitcoin. (we say 3 currency)
then the 100 investors may move to other 3 currency to find more specific or easier way to earn money or inflate their investments.
Do you think these probability will occur?
Five risks associated with owning bitcoins
Volatility
5 Bitcoin risks Like other Bitcoin crypto currencies, it is extremely unstable and volatile, even more than stocks. While maintaining high volatility, the coin is constant in the trend towards growth, but this does not mean that it can not collapse suddenly. The cause of Bitcoin's fall can be both a ban on the legislative level and "overheating" of the market. A price reduction of even 20% will surprise investors, although from the first day of the year they earned more than 900%.
History has shown that the higher the growth, the more significant the correction. Therefore, Bitcoin owners must take this risk into account.
Cyber attacks
The storage of Bitcoin in an online wallet, exchanger or exchange - will not provide confidence in the security of encryption facilities. Reuters reported that the exchange of crypto currency was hacked and the platform had to close its business due to a lack of virtual currency.
Store Bitcoins on the online exchange - a serious risk.
Attacks from quantum computers
In early November 2017, a group of experts sounded the alarm - the blockchain Bitcoin could suffer from the attack of quantum computers in ten years. New transactions for hacking will be carried out by 2027.
In order to have the maximum possible understanding of crypto-currencies, be sure to read the information about what a blockage is.
Many of the existing Bitcoins accounts and all new transactions will be in danger in ten years, you need to make decisions now.
51% attack
One of the real problems for Bitcoin is the so-called "51% attack". Under the scenario, only one organization will control 51% of capacity. Such an organization has the ability to manipulate a Bitcoin blockchain by blocking transactions or doubling Bitcoin. In this case, the entire specialized system will collapse.
Do you think that this is just a theoretical threat? Do you know what is the distribution of hashing power for today? The five largest pools for mining produce 70% of the hashing capacity in general. There are three large miners - AntPool, DiscusFish and Bitfury. They joined forces and reached the fatal level of 51%.
A loss
Once lost, Bitcoin can not be retrieved. And this also applies to operations - after confirming bitcoins can not be removed or canceled.
Already more than 3.8 million bitcoins were lost forever, and this is 23% of the total.
In 2009, James Howells, a specialist in English information technology, at his home namaynil 7500 Bitcoin without much effort. Then he threw out the hard drive of Dell laptop. Today, a hard drive worth about $ 75 million continues to be among the garbage in the Wales dump.
