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Ripple CTO David Schwartz fears that hackers will release new bitcoins after the circulating supply reaches a limit of 21 million coins.
I think that with a very high degree of probability there is at least one bug in at least one major implementation of the bitcoin source code that will allow the creation of digital assets. But maybe no one will notice the error, or it will be fixed before problems arise, “Schwartz said.
According to David, if the attackers manage to release bitcoins during a cyber attack, then cryptocurrency exchanges will suffer huge losses, and investors’ faith in the digital asset will be shaken. Obviously, this will lead to a drop in the value of the coin and provoke an outflow of capital to other virtual currencies.
Schwartz has no doubt that the bitcoin blockchain is a tidbit for hackers thanks to the impressive profits that can be earned in the event of a successful hack. At the same time, he admits that the absence of serious incidents since 2018 indicates the high resistance of the BTC network to cyber threats. In addition, a hypothetical attack will occur no earlier than 2040, when the last bitcoin will be mined.
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