Access Restricted for EU Residents
You are attempting to access a website operated by an entity not regulated in the EU. Products and services on this website do not comply with EU laws or ESMA investor-protection standards.
As an EU resident, you cannot proceed to the offshore website.
Please continue on the EU-regulated website to ensure full regulatory protection.
Monday Nov 17 2025 05:50
2 min
Bitcoin may not be as resilient to network attacks as most think, according to Bitcoin pioneer Nick Szabo. He argues that while Bitcoin is a trust-minimized network, it isn’t entirely trustless and can still be "attacked" by nation-states and corporations.
In a post to X on Sunday, Szabo explained that every cryptocurrency and layer 1 network has a "legal attack" surface that enables them to be disrupted by governments. Thinking Bitcoin or any blockchain protocol is a “magical anarcho-capitalist Swiss army knife that can withstand any kind of governmental attack in any legal area is insanity,” he said.
Szabo’s insights carry weight in the crypto community as he was an early pioneer of smart contracts. Some even speculate that he could secretly be Bitcoin’s pseudonymous creator, Satoshi Nakamoto, given that he developed the idea of Bit Gold in 1988. However, Szabo has publicly refuted claims that he is Nakamoto.
In a rebuttal post, Szabo said action against Bitcoin miners, node operators and wallet service providers could be coordinated in jurisdictions that uphold the rule of law.
Szabo was specifically talking about "arbitrary data" and the ability to delete certain content, should regulators force network participants to manipulate the network.
It ties into the months-long Bitcoin Cores vs Knots debate over whether certain non-financial content — such as pictures, videos, and audio — through Ordinals, Runes, and BRC-20 transactions has a place in the Bitcoin ecosystem.
Szabo’s comments were criticized by several Bitcoiners, including Chris Seedor, the CEO of Bitcoin seed storage provider Seedor, who said Szabo was overestimating the power that speculative “legal boogeymen” possess. “Bitcoin's resilience was never about predicting every possible domain of law — it was about minimizing technical points where coercion can bite,” Seedor said, arguing that regulators would have shut down PGP, Tor, and other protocols if they could have.
Risk Warning: This article is provided for informational purposes only and does not constitute investment advice, investment research, or a recommendation to trade. The views expressed are those of the author and do not necessarily reflect the position of Markets.com. When considering shares, indices, forex (foreign exchange), and commodities for trading and price predictions, remember that trading CFDs involves a significant degree of risk and may not be suitable for all investors. Leveraged products can result in capital loss. Past performance is not indicative of future results. Before trading, ensure you fully understand the risks involved and consider your investment objectives and level of experience. Cryptocurrency CFD trading restrictions may apply depending on jurisdiction.
Latest
View all
Thursday, 23 July 2026
6 min
Thursday, 23 July 2026
3 min
Thursday, 23 July 2026
4 min
Thursday, 23 July 2026
Indices
Gold Price Today, July 24: Gold Slips to $4,043 as Dollar and Yields Rise
Thursday, 23 July 2026
Indices
South Korea Tightens Rules on Single-Stock Leveraged ETFs, Raises Cash Requirement to KRW 30 Million from July 31
Thursday, 23 July 2026
Indices
Intel Q2 Revenue Jumps 25% on AI Demand, Beats Estimates as Strong Q3 Outlook Lifts Shares
Thursday, 23 July 2026
Indices
Crypto Prices Today July 24: Bitcoin Steadies Near $65K as ETF Demand Counters Geopolitical Uncertainty
Thursday, 23 July 2026
Indices
Oil Price News Today: Brent Slips Below $100 as Traders Weigh US-Iran Tensions
Thursday, 23 July 2026
Indices
US Treasury Says Yen Is Deeply Undervalued, Urges Bank of Japan to Continue Rate Hikes
EN
