Bitcoin Security Risks

invest-rectangle-enBitcoin has a number of security risks which will have to be tackled if the currency is to become secure enough for the general public to use.

Bitcoin Security Risks

I’ve just been watching a short talk given recently by John McAfee on the subject of Bitcoin security risks.

That’s the McAfee of the McAfee virus protection software business (sold some years back to Intel by the way). In his talk he speaks about the future of Bitcoin and Blockchain and the security issues it faces.

He’s an engaging speaker, first time I’ve seen or heard him talk, and he also has a great sense of humour.

McAfee makes the point about the complexity of Bitcoin making it easy to make mistakes when conducting transactions, which can then be difficult or impossible to reverse.

Also the security risks from hackers and in particular the problems with both online and local software Bitcoin wallets.

He also makes some good points about the IoT or internet of Things and the coming deluge of security problems that these devices are bringing with them.

The IoT is going to be an El Dorado for hackers and break ins. Only last year we saw the massive Mira Botnet DDoS distributed denial of service attacks which hit infrastructure world wide.

So here’s John McAfee’s talk on Bitcoin security risks (about 20 mins long)

httpv://www.youtube.com/watch?v=WJe5z6a4DyM

He also spoke in London about security issues:

httpv://www.youtube.com/watch?v=uJOPpnJB4sI

 

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