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Gold advocate Peter Schiff believes the Twitter Hack is a sign of things to come for bitcoin itself

Gold advocate Peter Schiff believes the Twitter Hack is a sign of things to come for bitcoin itself
  • Although it can be argued, bitcoin is one of (if not the) most secure networks in the world. 
  • The hash rate for the network is the amount of computing power dedicated to securing it and it is typically deemed as the litmus test of the general security. 

Although it can be argued, bitcoin is one of (if not the) most secure networks in the world. The hash rate for the network is the amount of computing power dedicated to securing it and it is typically deemed as the litmus test of the general security. 

A few days ago though, the rate on the network reached an all-time high which means that it is next to impossible for malicious imposters to go about 51% attacks.

Of course, the well-known naysayer of bitcoin and advocate of gold, Peter Schiff still believes that bitcoin can be hacked. Recently taking to the recently hacked platform of Twitter, the precious metal lover came to the conclusion that bitcoin itself could be subject to a hack and encouraged his followers to play it safe and buy gold instead.

As many people have pointed out though, Twitter was hacked, not bitcoin. This has been a common misreading over the past 24 hours leading many people to believe that bitcoin is the issue and not the security of Twitter having any flaws.


It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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