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Author Topic: how strong is bitcoin really?  (Read 51990 times)
Sorrowfox
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October 23, 2016, 06:11:32 AM
 #441

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
The bitcoin price has risen about one or two dollars since yesterday, and for some, this is enough to instill a question into their heads… “Is bitcoin finally on the path to recovery?”
Yesterday I spoke of living each day as it comes and not allowing thoughts and emotions to jeopardize one’s status.  Bitcoin, as we’ve all seen, is a mixed portrait; it goes up, it goes down, it goes up, it goes down.  It’s hard to predict where it will go, and many of us are completely shocked when a massive drop like what occurred in January takes place.
In adding to what I wrote yesterday, I will mention that I stand by my original thought that one should neither get too happy nor too down about the bitcoin price.  It’s a fluctuating meter, but if you are going to experience some sort of internal emotion about it all, experience joy.  That’s right… Even a $1-$2 increase like what we’ve recently witnessed is worth a little bit of celebration.  If you’re going to express a thought or a feeling, shouldn’t it be positive?
Because right now there is fear amiss… One of the largest bitcoin companies, Bitreserve, has gone so far as to claim that bitcoin will no longer be around in five years.  This is large and damaging talk indeed, particularly when the company recently raised almost $10 million to grow and further expand its core services.  If what Bitreserve says is true, why go through all that?  Why not just cut ties with digital currency now?
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October 23, 2016, 07:00:14 AM
 #442

BTC is experienced as a secured system to be with. We have secured wallets as well. Everyone here has trust on blockchain wallets, localbitcoin wallets and on other wallets. The price is really high compared to other currency. This is the sign of its strong foundation. Though many governments are against it, one or the other way they support in terms of making the merchants accept the bitcoins.
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October 23, 2016, 07:24:51 AM
 #443

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

Of course we can find the weakness of the system, but Bitcoin is pretty strong so it would be difficult for us to do. Just tell your friend that we can do that but it requires 10 Isaac Newton, 5 Alan Turing, and the next next gen computer to hack the network.
If your friend still thinks that Bitcoin is not really strong, then I'm pretty sure that he has 1250 IQ score.

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October 23, 2016, 08:34:29 AM
 #444

It's the strongest of all cryptocurrency, and some of the currency are counted in terms of bitcoin. It's the most expensive coin of all other cryptocurrency. Unlike other coins bitcoin have Satoshi which is 10 to the power 8 of one bitcoin which could become unit of bitcoin transaction in future but other cryptocurrency don't have this feature.
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October 23, 2016, 10:20:31 AM
 #445

very strong.
next!

but for real, is there any point in a thread like that?

Of course there is a point. We are discussing the strength of bitcoin. Some people will say it is strong, and some gonna say it is weak. Meanwhile, readers of this topic will decide to make or not to make investments in bitcoin.
Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

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October 23, 2016, 03:58:50 PM
 #446

Because right now there is fear amiss… One of the largest bitcoin companies, Bitreserve, has gone so far as to claim that bitcoin will no longer be around in five years.  This is large and damaging talk indeed, particularly when the company recently raised almost $10 million to grow and further expand its core services.  If what Bitreserve says is true, why go through all that?  Why not just cut ties with digital currency now?

It looks like they have an agenda. And this agenda is apparently to instigate panic selling and buy even more bitcoins when the price goes down. But talk is cheap, and so far the price has been rising, step by step, and their words have seemingly been interpreted in the opposite direction that they expected. But they might as well have been expecting exactly that, since who knows for sure?
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October 26, 2016, 04:31:03 PM
 #447

Because right now there is fear amiss… One of the largest bitcoin companies, Bitreserve, has gone so far as to claim that bitcoin will no longer be around in five years.  This is large and damaging talk indeed, particularly when the company recently raised almost $10 million to grow and further expand its core services.  If what Bitreserve says is true, why go through all that?  Why not just cut ties with digital currency now?

It looks like they have an agenda. And this agenda is apparently to instigate panic selling and buy even more bitcoins when the price goes down. But talk is cheap, and so far the price has been rising, step by step, and their words have seemingly been interpreted in the opposite direction that they expected. But they might as well have been expecting exactly that, since who knows for sure?

That could be right. The bitcoin price is rising now. That makes me think the previous fud is just to get cheap coins.

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October 26, 2016, 04:34:50 PM
 #448


Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

Strong in the sense that it has a biggest value among cryptocurrency and millions of dollars are being transacted daily.From coinmarket cap,no one lodge bitcoin from number one spot.It is the father of all cryptos.

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October 26, 2016, 04:40:32 PM
 #449


Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

Strong in the sense that it has a biggest value among cryptocurrency and millions of dollars are being transacted daily.From coinmarket cap,no one lodge bitcoin from number one spot.It is the father of all cryptos.

There is no doubt in the fact that bitcoin is the king of crypto world and no other coin in this industry can compete with it in any terms, whether it is value, user base, anonymity or any other features bitcoin represent.



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October 26, 2016, 05:11:37 PM
 #450


Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

Strong in the sense that it has a biggest value among cryptocurrency and millions of dollars are being transacted daily.From coinmarket cap,no one lodge bitcoin from number one spot.It is the father of all cryptos.

There is no doubt in the fact that bitcoin is the king of crypto world and no other coin in this industry can compete with it in any terms, whether it is value, user base, anonymity or any other features bitcoin represent.

You got it wrong on the anonymity/pseudonymity front. Bitcoin was not designed keeping in mind user privacy.
Other coins like Monero do a far better job on that front.

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October 27, 2016, 02:49:16 AM
 #451


Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

Strong in the sense that it has a biggest value among cryptocurrency and millions of dollars are being transacted daily.From coinmarket cap,no one lodge bitcoin from number one spot.It is the father of all cryptos.

There is no doubt in the fact that bitcoin is the king of crypto world and no other coin in this industry can compete with it in any terms, whether it is value, user base, anonymity or any other features bitcoin represent.

You got it wrong on the anonymity/pseudonymity front. Bitcoin was not designed keeping in mind user privacy.
Other coins like Monero do a far better job on that front.
My understanding is if we are transaction anonymously we are keeping our privacy and that's what bitcoin is also designed. And that fact that it's anonymous the more it gives us privacy. I know monero has a better feature than bitcoin when it comes to that thing but the trust of the people is what matters here and obviously we trusted bitcoin than monero (BTC - UP / Monero - Down).

                                
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October 27, 2016, 03:11:06 AM
 #452

It's the strongest of all cryptocurrency, and some of the currency are counted in terms of bitcoin. It's the most expensive coin of all other cryptocurrency. Unlike other coins bitcoin have Satoshi which is 10 to the power 8 of one bitcoin which could become unit of bitcoin transaction in future but other cryptocurrency don't have this feature.
I don't think that you can compare strength in terms of price, as price is based on demand. There is a little to none to see a relationship between it. Well look at the Altcoins in ICO which shows improve security too Bitcoin does it reflect on the Altcoin's price? Of course not because Bitcoin is and still ever will be the number 1 cryptocurrency in terms of the market share.

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Ezaz077
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October 27, 2016, 03:38:42 AM
 #453

Hack or bitcoin not possible brother bitcoin is on of the most popoler coin in the earth and its a good security on bitcoin.....
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October 27, 2016, 04:37:04 AM
 #454

Wow, if your friend is so confident, then let him have a go at it himself.  He may come to an understanding.  Here is the solution: x3 - y2 + 7 = 0  Get you're friend a modular arithmetic calculator because it makes the finite field math much easier.  This reference may help him out: http://www.coindesk.com/math-behind-bitcoin/

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October 27, 2016, 06:19:44 AM
 #455

Wow, if your friend is so confident, then let him have a go at it himself.  He may come to an understanding.  Here is the solution: x3 - y2 + 7 = 0  Get you're friend a modular arithmetic calculator because it makes the finite field math much easier.  This reference may help him out: http://www.coindesk.com/math-behind-bitcoin/
lol yeah just ignore them who think they can 'hack' bitcoin wallet or predicting the exact number of bets outcome . they must be don't know nothing about cryptocurrency. they didn't know how deep cryptocurrency security standard it is, i guess someone have explained here before i just forgot where it is.

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October 27, 2016, 06:20:46 AM
 #456

bitcoin is strong  because   man people are  already using  it and   it would still continue to grow   on  upcoming years   to come. It wont die easily.

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staceyoh
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October 27, 2016, 06:23:09 AM
 #457

For me bitcoin is a strong one.
Why? It's because bitcoin have survived all the struggles.
That is one of the reason why bitcoin is still alive.
Also, there's many people who loves the bitcoin.
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October 27, 2016, 06:29:28 AM
 #458


Whether they believe or they do not believe it is very obvious that Bitcoin is very strong. Bitcoin is getting more and more user base every day and night. Some people are even predicting that that bitcoin may overshadow the longtime powerful US dollar, so what is the point arguing whether it is strong or not.

Strong in the sense that it has a biggest value among cryptocurrency and millions of dollars are being transacted daily.From coinmarket cap,no one lodge bitcoin from number one spot.It is the father of all cryptos.

There is no doubt in the fact that bitcoin is the king of crypto world and no other coin in this industry can compete with it in any terms, whether it is value, user base, anonymity or any other features bitcoin represent.
for now of course nothing else cryptocurrency can beat bitcoin, perhaps because bitcoin first made an excuse the first, so the first bitcoin cryptocurrency known than others. and it makes bitcoin grow faster and stronger
I think for anonymity, cheapness fee, and so forth, other cryptocurrency also has it?


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October 27, 2016, 08:14:59 AM
 #459

Really strong, go to poloniex now and seen the influence of Bitcoin on other Altcoins, it is really strong that hackers would prefer to be paid in BTC because they know it can act has a sanctuary, also drug dealers, Darkmarkets, strong you have fill station accepting it, strong and can only get stronger

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October 27, 2016, 08:39:27 AM
 #460

Oh. your friends seems doesn't know what is logic. even lottery is hard to predict. then its much more hard to predict bitcoin bettings.    Cool Cool
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