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Author Topic: how strong is bitcoin really?  (Read 52117 times)
Mastsetad
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September 04, 2016, 03:46:55 PM
 #161

It's still young and promising currency, without amazing power or something like that, sure it's popular and people like it, but as currency it's not so strong.

Young as a currency compared to other currencies of the world? Yes, but young as a currency in online world? Not at all, because now it is quite old and it has got quite a good amount of users in the community, and it is also quite strong in terms of security as in all those years it has not got any problems like other coins mostly do, so we can consider it strong.
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phreaky
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September 05, 2016, 03:05:03 PM
 #162

Bitcoin is pretty strong if you ask me but it has the potential to become allot stronger in the future. This is only the beginning of Bitcoin.
I am sure that in the future it will become allot more popular then it is right now.
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September 05, 2016, 03:13:36 PM
 #163

Bitcoin was strong as when it born and becoming more and more strong as day by day.

Reason is difficulty level. Mining is used to generate bitcoins. But now a days mining is so hard due to block heights and difficulty level.

So imagine a thing that is too hard to generate how much secure it is.

Its already stated that Bitcoin is  safe by universal law.

Already there are many layers of protection.

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September 06, 2016, 08:49:54 AM
 #164

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this
your friend is a idiot did he think that he can hack bitcoin blockchain did his calcution correct you cant not simply calculate it escpecially a gambling casino i even tried to calculate some cs go gambling site and my calculation was event correct

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September 06, 2016, 08:52:36 AM
 #165

Bitcoin is pretty strong if you ask me but it has the potential to become allot stronger in the future. This is only the beginning of Bitcoin.
I am sure that in the future it will become allot more popular then it is right now.

It is indeed an estimate that would probably be true, because now I've also noticed that the growth of the bitcoin has been very good and give a wonderful effect for the life of the majority of users of the bitcoin. Many users of the bitcoin benefit greatly by using bitcoin or trading. This is the reason that bitcoin is going to have a very long time and it could beat its existing currency



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September 06, 2016, 09:01:39 AM
 #166

Pretty strong and persistent I would say, There where many attacks and negative criticism on bitcoin from as soon as it started till now and it had easily maintained it's status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

Yes bitcoin has a very strong core. If we get more positive news instead of negative then perhaps we could so big who could know. If the hacking fiasco's didn't happen then we would be sitting above 1k  + for sure but these problems killed the faith of some investors and people so that's why we are a little below. I'm sure with time bitcoin or any digital currency like this will grow more on the people as the newer generations get older.
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September 06, 2016, 09:03:47 AM
 #167

Pretty strong and persistent I would say, There where many attacks and negative criticism on bitcoin from as soon as it started till now and it had easily maintained it's status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

Yes bitcoin has a very strong core. If we get more positive news instead of negative then perhaps we could so big who could know. If the hacking fiasco's didn't happen then we would be sitting above 1k  + for sure but these problems killed the faith of some investors and people so that's why we are a little below. I'm sure with time bitcoin or any digital currency like this will grow more on the people as the newer generations get older.

Yup scams are creating negative impression in the minds of new investors who are looking to invest their money in bitcoins, but the price rise clearly indicates that people have shown their trust in bitcoins.
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September 06, 2016, 09:13:58 AM
 #168

It is very strong and you can't just hack it and script kiddies wont be able to acces it just like that so in that term it's pretty strong.
But ofcourse every security you can potentially penetrate there is always a way to unlock a door. We have seen it happen in the past but the same could happen to your bank getting hacked. It might be less likely because that would be easier to get caught with though.
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September 06, 2016, 09:16:05 AM
 #169

It is very strong and you can't just hack it and script kiddies wont be able to acces it just like that so in that term it's pretty strong.
But ofcourse every security you can potentially penetrate there is always a way to unlock a door. We have seen it happen in the past but the same could happen to your bank getting hacked. It might be less likely because that would be easier to get caught with though.

Banks are safer and stronger in compare to bitcoin wallet, as if your banks account gets hack or if your money is stolen then there is always an opportunity to recover your money but same doesn't goes with bicoin.
dearbesz1219
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September 06, 2016, 09:38:04 AM
 #170

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

We know that in other country Bitcoin might be strong. It is because they adopted the system of bitcoin as well. Perhaps to enjoy their citizens the all advantages of bitcoins has of how is it useful.

                                 
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September 06, 2016, 10:31:14 AM
 #171

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

We know that in other country Bitcoin might be strong. It is because they adopted the system of bitcoin as well. Perhaps to enjoy their citizens the all advantages of bitcoins has of how is it useful.

I don't think that there are many countries where bitcoin is strong, as if you go through different threads on this forum then you will find that everyone is complaining that bitcoin is not yet popular in their countries.
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September 06, 2016, 10:38:48 AM
 #172

Pretty strong and persistent I would say, There where many attacks and negative criticism on bitcoin from as soon as it started till now and it had easily maintained it's status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

Yes bitcoin has a very strong core. If we get more positive news instead of negative then perhaps we could so big who could know. If the hacking fiasco's didn't happen then we would be sitting above 1k  + for sure but these problems killed the faith of some investors and people so that's why we are a little below. I'm sure with time bitcoin or any digital currency like this will grow more on the people as the newer generations get older.

Yup scams are creating negative impression in the minds of new investors who are looking to invest their money in bitcoins, but the price rise clearly indicates that people have shown their trust in bitcoins.

I agree scam can cause negative impression in the minds of the new investors and also in the bitcoin , just talking about bitcoin then other says that there are lot of scams on it blah blah. But it is cause by the creators of the investment sites or any about double your bitcoin in a day.

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September 06, 2016, 10:46:58 AM
 #173

Pretty strong and persistent I would say, There where many attacks and negative criticism on bitcoin from as soon as it started till now and it had easily maintained it's status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

Yes bitcoin has a very strong core. If we get more positive news instead of negative then perhaps we could so big who could know. If the hacking fiasco's didn't happen then we would be sitting above 1k  + for sure but these problems killed the faith of some investors and people so that's why we are a little below. I'm sure with time bitcoin or any digital currency like this will grow more on the people as the newer generations get older.

Yup scams are creating negative impression in the minds of new investors who are looking to invest their money in bitcoins, but the price rise clearly indicates that people have shown their trust in bitcoins.

I agree scam can cause negative impression in the minds of the new investors and also in the bitcoin , just talking about bitcoin then other says that there are lot of scams on it blah blah. But it is cause by the creators of the investment sites or any about double your bitcoin in a day.

People invest their fiat in real life investments and even loose sometimes, but they never blame fiat for  that and continue to use it, then why they are discriminating bitcoin I don't understand.
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September 07, 2016, 07:47:38 AM
 #174

It is very strong and you can't just hack it and script kiddies wont be able to acces it just like that so in that term it's pretty strong.
But ofcourse every security you can potentially penetrate there is always a way to unlock a door. We have seen it happen in the past but the same could happen to your bank getting hacked. It might be less likely because that would be easier to get caught with though.

Banks are safer and stronger in compare to bitcoin wallet, as if your banks account gets hack or if your money is stolen then there is always an opportunity to recover your money but same doesn't goes with bicoin.

I disagree with this, what you describe may seem to make banks more reliable, but what protects you from the banks? Nothing, if Banks or governments want to seize your accounts they can do it with impunity, bitcoin protects you from that because of its decentralized nature, so what you think makes bitcoin weak, in fact makes it stronger.


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September 07, 2016, 08:23:04 AM
 #175

It is very strong and you can't just hack it and script kiddies wont be able to acces it just like that so in that term it's pretty strong.
But ofcourse every security you can potentially penetrate there is always a way to unlock a door. We have seen it happen in the past but the same could happen to your bank getting hacked. It might be less likely because that would be easier to get caught with though.

Banks are safer and stronger in compare to bitcoin wallet, as if your banks account gets hack or if your money is stolen then there is always an opportunity to recover your money but same doesn't goes with bicoin.

I disagree with this, what you describe may seem to make banks more reliable, but what protects you from the banks? Nothing, if Banks or governments want to seize your accounts they can do it with impunity, bitcoin protects you from that because of its decentralized nature, so what you think makes bitcoin weak, in fact makes it stronger.
Yes, bitcoin is more stronger when you are considering it against bank system. What the practice we are following are right now is not at all protected or guaranteed for our ownership of our own wealth. We are still having only partial ownership with the money what we have in our bank. Bitcoin esrases this tradition and giving us full freedom and authority with our own wealth.

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September 07, 2016, 08:40:31 AM
 #176

So how safe is it to store bitcoins in a site like coinbase?
I don't have very much at all but should I need to have offline storage if I just have a little bit of money put into bitcoin?
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September 07, 2016, 08:46:13 AM
 #177

Bitcoin is already pretty strong but it has the potential to become even bigger, better and stronger in the future. They will need to attract more people to go out and make use of Bitcoin.
If that is not going to happen then I think that Bitcoin is not going to be as big as people think.
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September 07, 2016, 09:02:30 AM
 #178

It depends on how long we support the bitcoin.  How long we will use it will be the answer on how strong it is.  It is strong if there were many people continuously buying, trading, investing, earning, and using bitcoins.  We know how bitcoin as before and how it is doing right now.  It become the most popular and most used cryptocurrency in the world.

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September 07, 2016, 09:16:59 AM
 #179

Bitcoin is already pretty strong but it has the potential to become even bigger, better and stronger in the future. They will need to attract more people to go out and make use of Bitcoin.
If that is not going to happen then I think that Bitcoin is not going to be as big as people think.

That's right in future bitcoin  is only method and currency which gonna rule the future and the only currency which is going to adopt by American economy.
this payment gateway only gonna sent paypal away from this world.



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springgers
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September 07, 2016, 10:41:59 AM
 #180

are you are seriously asking if bitcoin can be hacked with a calculator? If I misunderstood please correct me, If I understood correctly will be no, unless that calculator is a super computer exceeding the size of the current bitcoin network.
I think bitcoin already proved itself to be a strong and reliable network, I don't think it can be hacked by any method known till now and if there is a bug, it will just get fixed.
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