The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Ripple Executive Says Hackers and Bugs Can’t Stop Bitcoin

by Daily Hodl Staff
December 14, 2020
in Bitcoin

Ripple chief technology officer David Schwartz says Bitcoin is essentially bulletproof from the long-term threat of a hack or bug in the system.

In a new post on Quora, Schwartz says miners who power the network would be able to patch things up in either event. He points to a moment in August of 2010 when a hacker was able to generate 184 billion BTC out of nowhere through a flaw in the system.

The bug was patched by Bitcoin creator Satoshi Nakamoto and a soft fork was soon rolled out to bring everything back to normal. Schwartz says the incident created a standard for how similar glitches can be addressed in the future.

“The bug would be fixed or the hashing protocol would be switched to a new one and Bitcoin would continue on.

This is precisely what happened during the value overflow incident of 2010 and the accidental fork crisis of 2013. There is a chance such an incident could result in the blockchain hav[ing] to be ‘rewound’ back to a point before the bug was exploited. People who relied on payments during the incident might wind up losing money because their payments might get reversed.”

Meanwhile, Ripple CEO Brad Garlinghouse is questioning whether the Chinese Communist Party could pose a long-term problem for Bitcoin.

In a new interview with Bitcoin bull and Morgan Creek Digital co-founder Anthony Pompliano, Garlinghouse questions whether Bitcoin’s mining capacity is spread evenly enough across the world to prevent China from bending the network to its will.

“Four miners in China [combined] have well over 50% control… If you control a majority of the hashpower, we have seen 51% attacks on other blockchains.”

Pompliano says he believes China could shut those miners down, but would not have the ability to force those miners to manipulate the network.

At time of publishing, 65% of Bitcoin’s global hashrate comes from China according to the Cambridge Bitcoin Electricity Consumption Index.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Shutterstock/Maxx-Studio

Submit a Press Release

Industry Announcements

  • BTCC Exchange Appoints Dan Liu as CEO Ahead of 14th Anniversary Milestone
    May 21, 2025
  • Bitcoin Suisse Secures In-Principle Approval From ADGM’s Financial Services Regulatory Authority
    May 21, 2025
  • Beer 2.0 – The Memecoin That’s Brewing Something Bigger on Solana
    May 20, 2025
  • Wall Street Ponke Launches With AI Tools, Learning Hub and Over $300,000 Raised in Hours
    May 20, 2025
  • Reppo Launches World’s First Liquid Node Sale, Pioneering Decentralized Data Infrastructure
    May 20, 2025
  • BingX AI Evolution Begins – A $300 Million Vision To Build the Future of AI-Powered Crypto
    May 20, 2025
  • Imrat Group Gains Priority Access to New Product – Bybit Launches Direct Stock Trading via Tether Stablecoin
    May 20, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$108,172.98
$108,172.98
1.19%
Ethereum
$2,503.28
$2,503.28
0.34%
BNB
$669.72
$669.72
3.17%
Solana
$170.46
$170.46
1.32%
XRP
$2.38
$2.38
1.22%

Spotlight

  • Here’s When It’ll Be Time To Flip Cautious on Crypto Markets, According to Analyst Jason Pizzino
    May 14, 2025
  • SEC Chair Paul Atkins Says Rational Regulatory Framework Needed for US To Become ‘Crypto Capital of the Planet’
    May 14, 2025
  • Low Cap Nasdaq-Listed Firm Reveals $300,000,000 Fundraising Plan To Acquire Crypto, Including President’s TRUMP Token: Report
    May 14, 2025
  • JPMorgan Chase Settles First Transaction on Public Blockchain Using Chainlink (LINK) and Ondo Finance (ONDO): Report
    May 14, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl