[New post] Crypto trader weighs in on possible Bitcoin extinction scenarios
Crypto Breaking News posted: "Episode 11 of Cointelegraph's Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that took place on July 21. Host Benjamin Pirus asked Sorout several questions, including one regarding Bitcoin's (BTC) future " Crypto Breaking News
Episode 11 of Cointelegraph's Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that took place on July 21. Host Benjamin Pirus asked Sorout several questions, including one regarding Bitcoin's (BTC) future and what scenario, if any, could lead to its extinction. Sorout suggested two different possibilities.
According to the trader, "If somebody figured out a way to crack seed phrases, if they built a supercomputer," it could potentially lead to vulnerabilities in Bitcoin. "There have been some rumors in the past. People say, 'Oh, and they could build such a supercomputer that calculates at X amount of speed, then you could crack a seed phrase within a shorter period of time.'"
Technology has surged forward in recent years. The prevalence of artificial intelligence has become a talking point as people have begun using OpenAI's chatbot ChatGPT in various ways. Logically, such waves of technological advancement may pose questions about the disruption of the current technological ecosystem. Bitcoin is not immune from that discussion.
"That, or if people figured out a way to attack the chain itself — gain control of the hash power," he added, continuing from his initial point on supercomputers. "So, that is also one big worry," he noted. "Neither of those things I think are going to happen, but yeah, those two factors are quite pivotal."
Sorout was adamant that such scenarios are not likely. "The more time Bitcoin spends being alive, the more chances of its survival increase," he noted, mentioning and referring to the Lindy effect.
The interview with Sorout also included an array of other talking points, including the trader's background.
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This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts, and opinions expressed here are the author's alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
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