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.

It looks like all verified Twitter accounts have been hacked by someone running a #Bitcoin scam. For once not being verified has its advantageous. I wonder if this is a harbinger of Bitcoin itself being hacked? Better to play it safe and just buy #gold.

— Peter Schiff (@PeterSchiff) July 15, 2020

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.

Twitter was hacked.

Bitcoin has never been hacked.

— Pomp 🌪 (@APompliano) July 16, 2020

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