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Author Topic: how strong is bitcoin really?  (Read 52049 times)
jekjekman
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November 10, 2016, 03:59:14 AM
 #521

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.


Good question though, Can you burn bitcoins with fire?, can you dig it under soil?
When you hoard FIAT money in a long period of time instead of investing it, loses value overtime.
When you hoard Bitcoin in a long period of time instead of investing it, it fluctuates no matter what.
Currency is a booster for people to move and do such things, Cryptocurrency or FIAT has a value that can be trade off, and by trading it risk is always there whether we like it or not.

It is a common myth that Bitcoin is ruled by a majority of miners. This is not true. Bitcoin miners "vote" on the ordering of transactions, but that's all they do. They can't vote to change the network rules.
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November 10, 2016, 05:03:44 AM
 #522

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.
But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

 

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TraderETH
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November 10, 2016, 05:11:55 AM
 #523

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
Hacking bitcoin network using a calculator is immposible and maybe there are people who can make prediction gambling with calculating method, but doesn't mean we can hack bitcoin network using the same method and calculator.
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November 10, 2016, 05:23:33 AM
 #524

By the calculus of probability everything is possible and with math some of us even can calculate the results of gambling and betting. So with that fact I would not say bitcoin is strong. Today bitcoin seems strong, the price is high, but next hacking attack on some exchanger will hit bitcoin again. People loose big money and such bad experience still didn't teach some of us to not hold all coins on an exchanger. So what I am talking about - if even wallets seem protected I don't believe that one day it will never be hacked.

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November 10, 2016, 07:45:05 AM
 #525

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.
But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

Yes, for me also, crypto currencies is more safer compare than FIAT no doubt about that because you can't literally touch it and just steal and run, My idea is hypothetical and no concrete basis as of now but it can happen someday even if we deny it, people are great making something new in everything, and if it happens(we hope not) we will be shock in an instant just like breaking the most secured prison or bank. No one can predict the future for Bitcoin or any other virtual thing, I think in My own perspective.

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November 10, 2016, 11:29:49 AM
 #526

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.
But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

I guess you are confusing different matters here. Namely, hacking with stealing. To hack a fiat currency, you would need to break into a Central bank's servers. How are you going to do that if these servers may never be online? Even if you succeed (purely hypothetical), your "hack" will be reversed in less than no time once discovered. On the other hand, stealing Bitcoins from desktop wallets is a usual thing nowadays...

And no two factor authentication will help you in that case

jekjekman
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November 10, 2016, 01:12:33 PM
 #527

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.
How are you determining whether or not something is safer that BTC, etc?  Biitcoin I though would be safer because there is no way to beat the system and take it.  Unles your account is hacked and such, there is not much of a way to loose it.  The same can happen to FIAT and all other coins.  Just wondering what basis you are using to make this statement.
But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

I guess you are confusing different matters here. Namely, hacking with stealing. To hack a fiat currency, you would need to break into a Central bank's servers. How are you going to do that if these servers may never be online? Even if you succeed (purely hypothetical), your "hack" will be reversed in less than no time once discovered. On the other hand, stealing Bitcoins from desktop wallets is a usual thing nowadays...

And no two factor authentication will help you in that case

Hacking and stealing of course is different but have some similarities, if you want to be take it literally so be it, is FIAT currency will be stored forever in the Central bank? I think not, it must be circulated. We can't steal bitcoin with our bear hands, breaching to the system or hacking it then stealing will do. Stealing information is consider hacking, hacking information is consider stealing, so My friend which is which.

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November 10, 2016, 01:26:10 PM
 #528

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.

Bitcoin is growing very solid and the indicators are showing very soon it's going to the moon. Fiat is old method but bitcoin is more safer and advanced to pay there.

Yes indeed and bitcoin is going really strong. With $11,418,847,704 market capitalization, thats huge. We are speaking here in billions and those who trust bitcoin, do not want it to become waste. All of us makes this cryptocurrency strong.

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November 10, 2016, 01:46:50 PM
 #529

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.

Bitcoin is growing very solid and the indicators are showing very soon it's going to the moon. Fiat is old method but bitcoin is more safer and advanced to pay there.

Yes indeed and bitcoin is going really strong. With $11,418,847,704 market capitalization, thats huge. We are speaking here in billions and those who trust bitcoin, do not want it to become waste. All of us makes this cryptocurrency strong.
That's a big money and we have already seen that in the figures above. Do you think this investors will put their money in bitcoin if they do not trust the platform, the system is very safe therefore people are attracted to invest and wait for the future to give them profits.

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November 10, 2016, 02:34:44 PM
 #530

But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

I guess you are confusing different matters here. Namely, hacking with stealing. To hack a fiat currency, you would need to break into a Central bank's servers. How are you going to do that if these servers may never be online? Even if you succeed (purely hypothetical), your "hack" will be reversed in less than no time once discovered. On the other hand, stealing Bitcoins from desktop wallets is a usual thing nowadays...

And no two factor authentication will help you in that case

Hacking and stealing of course is different but have some similarities, if you want to be take it literally so be it, is FIAT currency will be stored forever in the Central bank? I think not, it must be circulated. We can't steal bitcoin with our bear hands, breaching to the system or hacking it then stealing will do. Stealing information is consider hacking, hacking information is consider stealing, so My friend which is which

I heavily suspect that you implicitly assume that fiat currencies circulate like Bitcoin in Internet, right? Then you are in for a big surprise. The fact that you can use Internet banking to send money to other people (in fact, only to give bank an order) as well as pay bills or orders through Internet (again, only give orders) has nothing to do with how fiat currency circulation is organized...

Hint, electronic money transfers existed decades before Internet ever took off

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November 11, 2016, 08:35:12 PM
 #531

But when considering fiats, crypto currencies are basically safer by its cryptography security feature. No random hacking will be possible. Similar to fiats, we must secure our assets in cryptocurrencies with a strong password and other security measurements like 2fa. Bitcoin is stronger a bit than fiats or gold or any similar assets against robbery/hacking.

I guess you are confusing different matters here. Namely, hacking with stealing. To hack a fiat currency, you would need to break into a Central bank's servers. How are you going to do that if these servers may never be online? Even if you succeed (purely hypothetical), your "hack" will be reversed in less than no time once discovered. On the other hand, stealing Bitcoins from desktop wallets is a usual thing nowadays...

And no two factor authentication will help you in that case

Hacking and stealing of course is different but have some similarities, if you want to be take it literally so be it, is FIAT currency will be stored forever in the Central bank? I think not, it must be circulated. We can't steal bitcoin with our bear hands, breaching to the system or hacking it then stealing will do. Stealing information is consider hacking, hacking information is consider stealing, so My friend which is which

I heavily suspect that you implicitly assume that fiat currencies circulate like Bitcoin in Internet, right? Then you are in for a big surprise. The fact that you can use Internet banking to send money to other people (in fact, only to give bank an order) as well as pay bills or orders through Internet (again, only give orders) has nothing to do with how fiat currency circulation is organized...

Hint, electronic money transfers existed decades before Internet ever took off
I was about seven years of use in financial transactions through the Internet and purses and other things that are available online and can say that I have confidence and peace of mind has never been. Always I worried that something might go wrong. It is always a risk, but everything is held without any problems.
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November 11, 2016, 09:18:29 PM
 #532

Nobody is safe even the FIAT money I think but for me Bitcoin is more safer than FIAT in terms of robbery, so in short nothing is safe it's just how you can safe it.

Bitcoin is growing very solid and the indicators are showing very soon it's going to the moon. Fiat is old method but bitcoin is more safer and advanced to pay there.

Yes indeed and bitcoin is going really strong. With $11,418,847,704 market capitalization, thats huge. We are speaking here in billions and those who trust bitcoin, do not want it to become waste. All of us makes this cryptocurrency strong.
You guys are optimistic and think only positive. But still there are moments which try not to think and not to talk. Is bitcoin to secure as much as the users say and how you say.
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November 11, 2016, 10:10:28 PM
 #533

If we assume that the purse which is in the amount of the resource has not strongly pronounced capabilities for the protection of funds for purses of users, if the purse to have on your desktop here I think is safer to keep their bitcoin.
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November 11, 2016, 10:26:54 PM
 #534

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
Hacking bitcoin network using a calculator is immposible and maybe there are people who can make prediction gambling with calculating method, but doesn't mean we can hack bitcoin network using the same method and calculator.
Lol I think there will be no one who can predict or calculate how much value will be out on the dice or other gambling, gambling using an algorithm which is really complicated and it will not be counted

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November 11, 2016, 10:32:41 PM
 #535

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
Hacking bitcoin network using a calculator is immposible and maybe there are people who can make prediction gambling with calculating method, but doesn't mean we can hack bitcoin network using the same method and calculator.
Lol I think there will be no one who can predict or calculate how much value will be out on the dice or other gambling, gambling using an algorithm which is really complicated and it will not be counted
Bad that there is no legal supports users. If you want to protect the rights of postavitelya, it is not feasible.
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November 11, 2016, 11:10:49 PM
 #536

By the calculus of probability everything is possible and with math some of us even can calculate the results of gambling and betting. So with that fact I would not say bitcoin is strong. Today bitcoin seems strong, the price is high, but next hacking attack on some exchanger will hit bitcoin again. People loose big money and such bad experience still didn't teach some of us to not hold all coins on an exchanger. So what I am talking about - if even wallets seem protected I don't believe that one day it will never be hacked.
This is just saying so learn that you need to learn from others' mistakes, but in fact we are beginning to understand that, when something is already happening with ourselves. Therefore, the use of multiple purses should be mandatory, and the more you need to have a serious alternative exchangers.
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November 12, 2016, 01:01:00 AM
 #537

By the calculus of probability everything is possible and with math some of us even can calculate the results of gambling and betting. So with that fact I would not say bitcoin is strong. Today bitcoin seems strong, the price is high, but next hacking attack on some exchanger will hit bitcoin again. People loose big money and such bad experience still didn't teach some of us to not hold all coins on an exchanger. So what I am talking about - if even wallets seem protected I don't believe that one day it will never be hacked.
This is just saying so learn that you need to learn from others' mistakes, but in fact we are beginning to understand that, when something is already happening with ourselves. Therefore, the use of multiple purses should be mandatory, and the more you need to have a serious alternative exchangers.

Bitcoin is secure, exchanges are not! People just don't want to know the difference.

Today a saw a article about bitcoin, talking about Trump-Bitcoin and I saw a comment from a guy telling he got scammed by an mining cloud and never want to hear about bitcoin again. So this guy invested in some ponzi scheme because he want easy money and now blame the coin, ftw...
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November 12, 2016, 10:11:55 AM
 #538

By the calculus of probability everything is possible and with math some of us even can calculate the results of gambling and betting. So with that fact I would not say bitcoin is strong. Today bitcoin seems strong, the price is high, but next hacking attack on some exchanger will hit bitcoin again. People loose big money and such bad experience still didn't teach some of us to not hold all coins on an exchanger. So what I am talking about - if even wallets seem protected I don't believe that one day it will never be hacked.
This is just saying so learn that you need to learn from others' mistakes, but in fact we are beginning to understand that, when something is already happening with ourselves. Therefore, the use of multiple purses should be mandatory, and the more you need to have a serious alternative exchangers.

Bitcoin is secure, exchanges are not! People just don't want to know the difference.

Today a saw a article about bitcoin, talking about Trump-Bitcoin and I saw a comment from a guy telling he got scammed by an mining cloud and never want to hear about bitcoin again. So this guy invested in some ponzi scheme because he want easy money and now blame the coin, ftw...

What about posting a link to that article?

If that guy got scammed by a HYIP or fraudulent pyramid scheme promising him thousands of dollars of profits, we could expect him to claim that he would never want to hear anything about dollars either, correct?
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November 12, 2016, 01:49:32 PM
 #539

If bitcoin have weak security, i'm sure by now bitcoin would be controlled by government or dead.
Bitcoin is still alive is the proof that bitcoin network is really strong. Most bitcoin stolen/lost usually because user fault or 3rd party service bug anyway Roll Eyes
i agree for your statement , bitcoin have strong security may be never die ..
to more strong security we has to use high security

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November 12, 2016, 02:09:26 PM
 #540

If bitcoin have weak security, i'm sure by now bitcoin would be controlled by government or dead.
Bitcoin is still alive is the proof that bitcoin network is really strong. Most bitcoin stolen/lost usually because user fault or 3rd party service bug anyway Roll Eyes
i agree for your statement , bitcoin have strong security may be never die ..
to more strong security we has to use high security

Don't say it may never die because still bitcoin is on the stage of half balancing. But you are right with that bitcoin is strong when it regards to its blockchain technology security no one can ever breach its system. And those people that are thinking bitcoin is not secured and strong are just looking upon the exchange sites that suddenly hacked and breached.



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