The dangers facing Bitcoin

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Crypto currencies are more and more talking about them.

They already represent a very large capitalization with about $ 600 billion.

And the ICOs have managed to raise $ 3 billion so far.

Yet this great success may be in danger.

First, there are the banks.

Then there are some recent discoveries that can affect the security of blockchains.

Finally, there is the Internet which could also endanger the cryptocurrency.

Banks do not like Bitcoin

In fact, it should be known that many banks around the world do not adhere to these new currencies at all. Here are some examples that illustrate this mistrust of cryptocurrency:

Some banks close accounts of customers who have bought Bitcoin.

South Korea has banned traditional banks from trading in digital currencies.

ING's Chief Financial Officer advises his clients not to invest in cryptocurrencies.

TD Bank, under the pretext of routine checks, blocks purchases in Bitcoin.

Companies managing cryptocurrencies have problems with their banks and are forced to turn to banks in Gibraltar, Poland or Bulgaria.

Visa and soon MasterCard want to suspend crypto-debit cards outside the European Union.

However, it seems that all these problems come essentially from a lack of knowledge about cryptocurrencies and the technologies that underlie them.

Quantum computing endangers cryptocurrency security

But banks are not the only problem that cryptocurrency may encounter on their way.

Recently, researchers at the University of New South Wales have made major breakthroughs that can solve problems facing quantum computing specialists.

More precisely, these discoveries could theoretically be able to break the blockchain's encryption mechanism. Which of course would be a danger to the security of cryptocurrency networks.

But these risks are still distant, which will undoubtedly enable researchers to find effective solutions in the meantime.

Internet neutrality questioned

Third danger and not least for the world of cryptocurrencies, the neutrality of the Internet.

Specifically, AT&T and Comcast can now block certain websites to their customers.

How is it possible ? Thanks to the repeal of net neutrality laws by FCC chief Ajit Pai.

For example, Internet service providers could be under pressure from governments and prevent access to digital currency exchanges.

In addition, these service providers could favor some exchanges over others and services would be centralized.

Finally, this could affect the ability to execute a node on the decentralized networks of cryptocurrencies.

As a result, if that were to happen, we could then go back to the dark hours of Bitcoin. And it would be relegated again to the Darknet and other illegal markets.

Let's bet that all this will only be bitcoin-fiction and that these revolutionary currencies will continue to flow on quiet days.

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