Is Bitcoin At Risk Of Being Banned Following The Huge Twitter Hack?

Is Bitcoin At Risk Of Being Banned Following The Huge Twitter Hack?
фото показано с : zycrypto.com

2020-7-17 23:17

The massive Twitter hack that happened just a few hours ago could either be good or bad for Bitcoin and for cryptocurrency as a whole. Depending on who you ask, those who don’t want to understand it will most likely be in support of Bitcoin being banned.

Ban Bitcoin?

The “Ban Bitcoin” movement appears to achieve momentum because according to people who support this idea, if there is no Bitcoin, there wouldn’t be an incentive to do scams. Criminals turned to Bitcoin to supposedly hide their trail. (Without knowing Bitcoin actually makes them more traceable.)

Others believe the hacking (and the eventual giveaway scam) was planned earlier to outlaw Bitcoin. One Twitter user lamented, “Ask yourself how they hacked people just like that. And don’t forget that Trump wasn’t hacked.” 

The Case for Decentralization

But those who understand Bitcoin know the Twitter hack is an obvious demonstration that it’s time to decentralize.

Representative Tom Emmer of Minnesota seems to think so – that Bitcoin is not the problem here but centralized control. Twitter, Google, and many companies’ servers and resources are centralized. This means there is a single source of a possible breakdown. Just like what happened with Twitter yesterday, it took one careless person, who Twitter is currently investigating, to hack the entire network. According to numerous reports, the hackers employed a Twitter insider who “basically did all the work” for them.

This is not possible with a public blockchain. If data from one node is changed, the entire network must also modify its data. One node could not tamper the entire network because it takes a lot of computing power to be able to pull it off. And the reason why such an attack (51 percent attack) has not taken place is that there is tremendous incentive to not do so.

Twitter Scam

They hacked twitter, not bitcoin. Pass it on.

— Blockfolio (@blockfolio) July 15, 2020

It is important to note that in the grand scheme of things, what happened is a Twitter scam or a Twitter hack. Someone had access to Twitter’s servers, took control of major accounts, and made a concerted effort to entice users in a Bitcoin giveaway scam. Bitcoin itself was not hacked.

This is a Twitter scam, not a cryptocurrency scam. In the same way that when a Nigerian prince asked me to wire him $100,000, it was an email scam, not a US dollar scam. https://t.co/wR3YP6RUbA

— Jeff Dorman, CFA (@jdorman81) July 15, 2020

Still, despite the fact that Bitcoin was only an accessory to the hacking occurrence, the narrative run by the mainstream media stressed that what happened was a “Bitcoin scam”.

Main stream media coverage of this hack & privacy breach: "bitcoin scam", "bitcoin scam", "bitcoin scam" … pic.twitter.com/ywlXoaxxo0

— PlanB (@100trillionUSD) July 16, 2020

Technically, Bitcoin could not be banned. Everyone can use it freely. But nothing can also stop the governments of the world to restrict it by imposing that Bitcoin companies could not operate in their jurisdictions. Just look at how the U.S. successfully forced Libra to break its global cryptocurrency initiative.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Bitcoin (BTC) на Currencies.ru

$ 68808.94 (+0.34%)
Объем 24H $41.793b
Изменеия 24h: 0.32 %, 7d: -3.12 %
Cегодня L: $66916.68 - H: $68889.35
Капитализация $1360.612b Rank 1
Цена в час новости $ 9127.91 (653.83%)

bitcoin twitter hack ban being banned want

Источник: zycrypto.com

bitcoin twitter → Результатов: 126


“I Would Leave Twitter or Square for Bitcoin,” says Jack Dorsey At the Bitcoin 2021 Conference

His life goal at the moment is to “remove” the corporate-ness of his companies and build a Bitcoin-inspired social media that will have “none of the restrictions” of Twitter. The post “I Would Leave Twitter or Square for Bitcoin,” says Jack Dorsey At the Bitcoin 2021 Conference first appeared on BitcoinExchangeGuide.

2021-6-5 16:36


CEO Twitter: Африка определит будущее bitcoin

CEO Twitter Джек Дорси считает, что будущее bitcoin во многом будет зависеть от отношения к активу и его распространению в странах Африки. Такими выводами специалист поделился с читателями своего микроблога после посещения континента.

2019-11-28 14:32


As Twitter Plans to Purge Inactive Crypto Accounts, Community Pushes for Memorialization of One Bitcoin User

Hal Finney received the first Bitcoin in a transaction from Satoshi Nakamoto himself. Jack Dorsey, who is in charge of Twitter, is a massive fan of Bitcoin. Twitter is a massive social media platform, allowing millions of users to sign up for accounts to post to their friends, family, and other followers. Recently, the platform announced […]

2019-11-28 01:11


Фото:

Hackers target major UK supermarket’s Twitter with phoney Bill Gates Bitcoin scam

Hackers took control of British multinational retailer Tesco’s Twitter account yesterday, urging followers to send Bitcoin to a wallet address and promising to return twice the value received. Luckily, though, Tesco’s followers did not fall for the Bitcoin scheme as no funds were deposited in the wallet address shared by the hackers.

2019-6-25 19:32


Фото:

‘World Isn’t Paying Attention to Bitcoin’ – New Twitter Data Finds

According to the source Bit Info Charts, Bitcoin-related tweets are at their lowest level in 5 years. The figure has drawn ire from cryptocurrency speculators that the world has lost interest in Bitcoin — but is this really the case? One Twitter use Revin Rooke made the following conclusion: There were 16,710 tweets yesterday, but roughly 30k Bitcoin tweets per day in 2015.

2019-4-30 20:00


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Как $800 превратить в $1,3 млн? История успеха Moo Deng

В криптоиндустрии время от времени происходят истории, которые можно смело назвать феноменальными. И одна из таких произошла совсем недавно: трейдер превратил $800 в $1,3 млн за две недели. И все благодаря новому мем-токену Moo Deng (MOODENG).

Индекс страха и жадности: как психология масс влияет на криптовалюты

Индекс страха и жадности — это один из самых интересных и простых инструментов, которые могут помочь инвесторам лучше понимать настроение криптовалютного рынка. Он измеряет, насколько рынок движется под влиянием эмоций, будь то страх или жадность.

Elon Musk’s post rescues Dogecoin (DOGE) from steep price decline

On September 7, 2024, Elon Musk, founder of Tesla, intervened just in time to save Dogecoin (DOGE) from a sharp price decline. As the broader cryptocurrency market faced bearish sentiment driven by large sell-offs from institutional investors and crypto “whales,” DOGE dropped below its key support level of $0.

Знаменитости-мемы: мем-токены рухнули и утянули за собой деньги инвесторов

В 2024 году мир криптовалют захлестнула волна мем-токенов, связанных со знаменитостями. Инфлюенсеры и звезды шоу-бизнеса, привлеченные возможностью быстрого заработка, запускали собственные криптовалюты на блокчейне Solana.

Height matters: The rug pull that funded a tall tale

Can a scam have a surprising motive? This crypto story will leave you in disbelief. One of the funniest things about crypto is how people and companies have tried to make sense of it. There’s been a lot of trial…

Цена BRETT растёт, а Base Dawgz демонстрирует потенциал для подобного роста

Base Dawgz – это новый мем-токен на блокчейне Base, который привлёк внимание инвесторов своим потенциалом повторить успех BRETT. BRETT продемонстрировал впечатляющий рост за последние два дня, цена выросла на 28%, компенсировав потери прошлой недели.