Will there be a 2038 bug?
Myth
It has been said that there will be a bug, like the one that happened in 2000, in the year 2038. The year 2000 bug involved the inability for outdated machines to hold the century digits of dates. Thus, the year displayed as 1900 corresponded to the year 2000 at the same time, and created a conflict in the system of the machines involved.
Reality
This problem is real and is hence referred to as the "Unix Millennium bug", "Y2K38," "Y2K+38," or "Y2.038K".
Since the 1st January 1970, a counter system has been set to 00:00:00 and refers to the Unix/Linux dating system calculated in seconds. However, as from Tuesday 19th January 2038 at 03:14:07, the date will correspond to 19th January 1970.
This can majorly affect software for other kind of operating systems and create an overflow problem within the computer.