• Crypto Expert

Why can't hackers just hack Bitcoins and make them worthless?

Updated: Jan 27, 2020

First of all, it is not easy to hack the source codes of bitcoin as it is open source, which means everyone can see it. It is so transparent that it is almost impossible for someone to find out a bug while no other is aware of it.

Second, if a hacker wants to change the ledger and cheat other nodes, this hacker has to own 51% of the hash power within the network (this is a roughly estimation statistically, 51% hash power give this hacker a reasonable timing to “hack” into the network).

However, in order to own 51% of the hash power, hacker now has to invest billions of USD machines (as of today) in advance. And if he did hack bitcoin, those machines will worth nothing as bitcoin will worth nothin. Any rational hacker won’t do this as it is economically not reasonable. Actually this “hacker” should join bitcoin mining to get block rewards as others and then bitcoin network becomes even stronger. That is why we call bitcoin is a self-consistent network.

Above we have discussed that a hacker does not have motivation to hack bitcoin. Actually even some hacker has controlled most of the hash power, the decentralization of bitcoin will not be ruined. Please refer to my another blog:


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