FX.co ★ Crypto experts assume bitcoin may be hackable

In previous articles, we have already talked about the factors that may trigger either rise or fall of bitcoin in the short and long terms. Curiously enough, one of the main reasons for BTC decline is overlooked by experts and speculators. Bitcoin has become an attractive investment asset in recent years. It seems that everyone turns a blind eye to the BTC features. For example, a share is a unit of capital that expresses the ownership relationship between the company and the shareholder. Gold is a precious metal from which jewelry can be made. Gold can be used in different fields. Bitcoin is just a code that does not perform any functions and cannot be used for some other purpose. Any code can be hacked. Mark Webber, a quantum physicist at the University of Sussex, voiced such an opinion. Together with his colleagues, he calculated that hacking bitcoin would require a supercomputer with a processing power of 13 to 317 million qubits. Such a device can completely destroy crypto protection. However, nowadays, the most powerful computer has a capacity of 127 cubes. In order to hack bitcoin, there should be a computer a million times more powerful, which will naturally be impossible in the coming years and even decades. However, technology is evolving rapidly. Now, powerful computers are used only to solve complex tasks. Therefore, such computing power is not a top priority. However, there is a chance that someone will work hard to build such a computer.

The good news is that the development of such a computer will take years. It applies not only to hacker technologies but also to protection technologies against malicious attacks. Reportedly, Chinese scientists may create such a computer, capable of cracking the most advanced encryption systems. However, if one day, bitcoin or any other cryptocurrency could be hacked, would they plunge to the bottom? Traders would be scared to invest money in an asset that may be hacked. Thus, in the very long term, bitcoin may face quite a serious risk. Now, there is no reason to worry.