6: What Will Make Bitcoin Fail

What is stopping the bitcoin network from being hacked?

 

In this episode, Keegan and Mrugakshee answer a listeners question. What is stopping the bitcoin network from being hacked? How do I know someone won't install a virus, and steal my money. For those of us without complete understanding of the technology supporting the Bitcoin Network, this is a really important question to answer.

 

The discussion is continued by asking, what if anything would make the Bitcoin network fail?

 

From the episode:

The website that records everytime an article declares that Bitcoin has Died: https://99bitcoins.com/bitcoin-obituaries/

 

Definition of Custodial Wallet:

The Bank has "custody" of your money. Following the same reference, a Custodial Wallet is when the "custody" of your money/assets is in the hands of somebody else. In the case of Crypto - the Exchanges.

 

Definition of Non-Custodial Wallet:

Non-Custodial is "not having the custody of". Thus, referencing the definition of custodial wallet, a non-custodial wallet is one where an exchange, bank, or third party doesn't have custody or control over your funds, You Do.

 

Blog Post Article on 3 Ways that Bitcoin Could Fail - https://www.gofullcrypto.com/blog/3-ways-bitcoin-could-fail

 

For more information, visit https://gofullcrypto.com

 

Edited and Mixed by Kaushik Sethunath.

 

The thoughts and opinions expressed by Keegan Francis and Mrugakshee Palwe on the Go Full Crypto podcast, are solely their own. Please view the full disclaimer at https://gofullcrypto.com/disclaimer