Crypto trader weighs in on possible Bitcoin extinction scenarios

Episode 11 of Cointelegraphs Crypto Trading Secrets podcast is now live, inviting crypto trader Mohit Sorout for an interview that took location on July 21. Host Benjamin Pirus asked Sorout several questions, consisting of one relating to Bitcoins (BTC) future and what circumstance, if any, could lead to its termination. “The more time Bitcoin spends being alive, the more possibilities of its survival increase,” he noted, mentioning and referring to the Lindy effect.The interview with Sorout also consisted of an array of other talking points, consisting of the traders background.Check out this and other episodes from Cointelegraphs Crypto Trading Secrets podcast on Cointelegraphs podcast page, Apple Podcasts, Spotify, Google Podcasts or TuneIn.Collect this post as an NFT to protect this minute in history and show your support for independent journalism in the crypto space.This post is for basic information purposes and is not meant to be and must not be taken as legal or financial investment advice.

Episode 11 of Cointelegraphs Crypto Trading Secrets podcast is now live, welcoming crypto trader Mohit Sorout for an interview that occurred on July 21. Host Benjamin Pirus asked Sorout a number of concerns, consisting of one regarding Bitcoins (BTC) future and what circumstance, if any, could lead to its extinction. Sorout suggested 2 different possibilities. According to the trader, “If somebody figured out a method to split seed expressions, if they developed a supercomputer,” it could possibly result in vulnerabilities in Bitcoin. “There have been some rumors in the past. People state, Oh, and they could build such a supercomputer that calculates at X amount of speed, then you might break a seed phrase within a shorter time period.” Innovation has risen forward recently. The prevalence of synthetic intelligence has become a talking point as people have actually begun utilizing OpenAIs chatbot ChatGPT in different ways. Rationally, such waves of technological development may present questions about the interruption of the present technological environment. Bitcoin is not immune from that discussion.”That, or if people determined a method to assault the chain itself– gain control of the hash power,” he included, continuing from his initial point on supercomputers. “So, that is also one huge worry,” he noted. “Neither of those things I think are going to take place, but yeah, those 2 factors are quite essential.”Sorout was adamant that such circumstances are not most likely. “The more time Bitcoin invests living, the more possibilities of its survival boost,” he noted, discussing and referring to the Lindy effect.The interview with Sorout also included a selection of other talking points, consisting of the traders background.Check out this and other episodes from Cointelegraphs Crypto Trading Secrets podcast on Cointelegraphs podcast page, Apple Podcasts, Spotify, Google Podcasts or TuneIn.Collect this short article as an NFT to protect this moment in history and reveal your support for independent journalism in the crypto space.This post is for general info purposes and is not intended to be and must not be taken as legal or financial investment guidance. The viewpoints, thoughts, and views expressed here are the authors alone and do not always show or represent the views and opinions of Cointelegraph.

Other Questions People Ask

What are the possible Bitcoin extinction scenarios discussed by the crypto trader?

The crypto trader Mohit Sorout highlighted two significant scenarios that could potentially lead to Bitcoin's extinction. Firstly, he mentioned the risk of a supercomputer being developed that could break seed phrases, thereby compromising Bitcoin's security. Secondly, he pointed out the possibility of an attack on the Bitcoin blockchain itself, where someone could gain control of the hash power, threatening the network's integrity.

How does the Lindy effect relate to Bitcoin's survival according to the crypto trader?

Mohit Sorout emphasized the Lindy effect in relation to Bitcoin's longevity, stating that the more time Bitcoin remains operational, the greater its chances of survival become. This principle suggests that the lifespan of an idea or technology increases with its continued existence. Sorout believes that as Bitcoin ages, it solidifies its position and resilience in the cryptocurrency market.

What technological advancements could threaten Bitcoin's future as per the interview?

During the interview, Sorout discussed how advancements in technology, particularly in artificial intelligence and computing power, could pose threats to Bitcoin. He specifically mentioned the potential for supercomputers to disrupt Bitcoin's security by quickly calculating seed phrases. Additionally, he raised concerns about possible methods to attack the Bitcoin blockchain, which could undermine its foundational security.

What is Mohit Sorout's stance on the likelihood of Bitcoin extinction scenarios?

Mohit Sorout expressed skepticism regarding the likelihood of the scenarios he discussed leading to Bitcoin's extinction. He believes that while these threats are significant, they are not probable outcomes. Sorout maintains that as Bitcoin continues to exist and evolve, its chances of survival only increase, reinforcing his confidence in its future.