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Author Topic: how strong is bitcoin really?  (Read 52144 times)
yuiyuga
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April 04, 2017, 10:21:16 AM
 #921

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.
it is not about bitcoin, it is because bitfinex security system is not good enough and hackers attacked and change all the address. Dont blame Bitcoin, it is very good right now. If you do not like Bitcoin, you can change to another type of currency

Yes you are right. The very blockchain system is very well protected. And I think this is one of the safest ways to store your assets
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April 06, 2017, 06:05:23 AM
 #922

If your friend thinks Bitcoin can be hacked, good for him. But ever since the Bitcoin appeared on the radar, not a single time it has been breached. What your friend doesn't understand is that BTC is not some random network operating next door. It's the most widely used, yet the most secure cryptocurrency out there. You will need plenty of supercomputer and some killer programming skills, and after a few years, you might be able to hack into one bitcoin address.

There is always more to learn about Bitcoin at www.btcwonder.com
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April 06, 2017, 06:13:18 AM
 #923

The bitcoin network has been running non stop for around 8 years, there is around 20 billion USD worth of value on the open network. With all the money hungry hackers in the world out there, none of them have been able to break the bitcoin network and steal that money. I’d say pretty secure…
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April 06, 2017, 09:12:48 AM
 #924

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
There is no chance of such thing.Your friend has misunderstood the concept of bitcoin functioning.If it is possible to hack,then no one would be having bitcoins in their wallet and all the wallets would be empty.

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April 06, 2017, 11:16:18 AM
 #925

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
There is no chance of such thing.Your friend has misunderstood the concept of bitcoin functioning.If it is possible to hack,then no one would be having bitcoins in their wallet and all the wallets would be empty.

I admit there are types of people like that in this world, but they are not rob everything, they have compassion and chose to become robin hood with more thrilled rob the whales, no one doesn't have loopholes like blockchain or most systems of gambling, they always find bugs that can be hacked. We don't need to explain further because we are users with a number of bitcoin that not match their expectations.

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Michel de Montaigne
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April 16, 2017, 08:00:56 AM
 #926

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.

The security problem in Bitfinex attack is not related to bitcoin. In this case the bitcoin was not hacked. Hacking was done on Bitfinex systems.
Such hacking events can occur for all payment systems. Bitcoin is a secure system based on existing infrastructure.

As far as I know, there is no weakness except for the 51% attack.
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April 16, 2017, 08:30:51 AM
 #927

Every system that build with standard algorithms always have bugs. I am not saying bitcoin saving a bugs that can destroy it in the future, but everyone knows if there is smart people with high intelligence can build a system, so there will be another smart people with similar high intelligence or more can make something like that or find a bit mistakes in that system.
I am always curious how bitcoin with almost perfect security system can create by just one person that called Sathosi nakamoto. I mean it's too perfect to build by a single person.

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April 16, 2017, 08:40:02 AM
 #928

Every system that build with standard algorithms always have bugs. I am not saying bitcoin saving a bugs that can destroy it in the future, but everyone knows if there is smart people with high intelligence can build a system, so there will be another smart people with similar high intelligence or more can make something like that or find a bit mistakes in that system.
I am always curious how bitcoin with almost perfect security system can create by just one person that called Sathosi nakamoto. I mean it's too perfect to build by a single person.

If competitors can not create something more perfect than bitcoin, then they will simply depreciate it.
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April 16, 2017, 10:44:44 AM
 #929

Every system that build with standard algorithms always have bugs. I am not saying bitcoin saving a bugs that can destroy it in the future, but everyone knows if there is smart people with high intelligence can build a system, so there will be another smart people with similar high intelligence or more can make something like that or find a bit mistakes in that system.
I am always curious how bitcoin with almost perfect security system can create by just one person that called Sathosi nakamoto. I mean it's too perfect to build by a single person.

True. Every system has faults and bug. No one can really do a perfect system. There will always be someone or a group of individuals that will penetrate a system. Therefore, bitcoin will always be prone from any hackers around the world.

Come to think of it, that is quite intriguing. That fact could make us think that Satoshi Nakamoto is actually a group of skilled individual and not just a single person. Well I am not saying that bitcoin cannot be made with just a single person.

pecson134
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April 16, 2017, 10:54:26 AM
 #930

How strong in what aspect? If by currency I can say that bitcoins is starting to having a stronger impact on the economy of the world since it is already a legitimate and an alternative ways to send payments. As to its protection and safety that is where bitcoin shows one of its weakness since it is digitalized it is prone to hacker compared to physical cash that you can hold on and protect yourself.


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paul gatt
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April 16, 2017, 10:56:13 AM
 #931

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.
No, I think bitcoin is strong enough and enough security for us to use. The security of bitcoin is very high if we know how to use it, and no hacker can penetrate and steal our bitcoin. The important thing is your usage, it affects the outcome of this conversation. I'm sure, if you are a careful person, you will never lose any money.

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April 16, 2017, 10:59:41 AM
 #932

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
There is no chance of such thing.Your friend has misunderstood the concept of bitcoin functioning.If it is possible to hack,then no one would be having bitcoins in their wallet and all the wallets would be empty.
Everything runs based on algorithmic calculations and programming, but the same cannot be easily hacked or with some calculations or a calculator. It's a operations source but till now it was growing forward flawless. Sometimes issues got risen and sought in a short time.

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April 16, 2017, 11:06:16 AM
 #933

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.
No, I think bitcoin is strong enough and enough security for us to use. The security of bitcoin is very high if we know how to use it, and no hacker can penetrate and steal our bitcoin. The important thing is your usage, it affects the outcome of this conversation. I'm sure, if you are a careful person, you will never lose any money.
you are right. Most hackers are just trying to attack the site exchangers for profit. so, I think bitcoin have high enough security. Well, in my opinion, strong bitcoin from all sides, in terms of safety, price, and terms of business.


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April 16, 2017, 11:10:26 AM
 #934

Bitcoin is strong enough, but there is always someone who can be stronger in any field. Time will show how strong is the security of this currency.
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April 16, 2017, 11:18:35 AM
 #935

Security issue always gets majority of bitcoin users all over the worlds. Now it becomes the role model other altcoins in the market. We need not concern about Bitcoin security, If we all are very careful about our personal computer security. As Bitcoin can provide very high levels of security, that's mean it totally depends on our sincerity how we used it correctly.

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April 16, 2017, 11:27:22 AM
 #936

How strong in what aspect? If by currency I can say that bitcoins is starting to having a stronger impact on the economy of the world since it is already a legitimate and an alternative ways to send payments. As to its protection and safety that is where bitcoin shows one of its weakness since it is digitalized it is prone to hacker compared to physical cash that you can hold on and protect yourself.

I suggest you to read first the opening or the first post before asking such question. The OP is clear on his part that he is pertaining to the strength of bitcoin from hackers and not as a currency. On the other hand, I agree that bitcoin will always be prone from hackers because it is a system. It contains codes and algorithm which is the specialty of hackers.

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April 16, 2017, 03:22:47 PM
 #937

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.
No, I think bitcoin is strong enough and enough security for us to use. The security of bitcoin is very high if we know how to use it, and no hacker can penetrate and steal our bitcoin. The important thing is your usage, it affects the outcome of this conversation. I'm sure, if you are a careful person, you will never lose any money.
yes there is no doubt about that bitcoin is strong enough, i think bitcoin will continue to become more and more stronger,  because the users of bitcoin are increasing from time to time and very soon all the people of the world will start using bitcoin.


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April 16, 2017, 05:12:58 PM
 #938

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
Bitcoin works on a secured block chain mechanism.Wallets are well secured.Nothing would happen nas your friend imagines.If it is true,then no none would be having their bitcoins in their wallets and every bitcoin would have been hacked.

This makes no sense - what does Gambling have to do with Bitcoin itself? There are HUGE thefts around the world probably every hour in USA.. does that make the USD dangerous? It's the gambling website owner's fault if he didn't allocate enough money to provide the website a good enough security. And most of the big BTC hacks were actually scams, and the "hack" was just a reason for them to be able to carry the millions away. People are getting rich from these "hacked" reasons... wake up!

EDIT: I might have understood the message the wrong way. If a computer can predict a gambling result with math formulas, it makes it pretty ... impossible .. to crack a private key. That's just one private key. What about all the private keys around the world?
It's hard for a hacker to crack a password, even if it's a 15-character one. It's hard because the computer needs very much time to crack it. And even if computers are evolving, it will NOT be too easy too soon. I doubt even a quantum PC can bruteforce a private key at the moment. Bitcoin has been here for 9 years already, and no such event ever happened. The only "hacked" people were those who left their private keys on their desktops or somewhere hackers or thieves could easily find. It's a mistake.
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April 16, 2017, 05:16:43 PM
 #939

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
Bitcoin works on a secured block chain mechanism.Wallets are well secured.Nothing would happen nas your friend imagines.If it is true,then no none would be having their bitcoins in their wallets and every bitcoin would have been hacked.

His friend is just boasting something without facts that is backing him up.
If he can do it with a calculator then he would be a genius. Hell, calculators dont even have an internet so how would he see it.
It is just someone who is also having problems with his brain.
There have been many conferences into which they make events into hacking bitcoin with many nerds and yet no one has done it.
Why are they creating some hoax news just to make it fall down. That is because that is all they can do. They cant hack it so they find another way.

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Paid Piper
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April 16, 2017, 08:01:27 PM
 #940

bitcoin is not so strong enough in case of security and it can be hacked as it happen during the bitfinex attack. well the bitcoin is so strong that it can run without any government people and it can totally by itself for the world to keep going.
No, I think bitcoin is strong enough and enough security for us to use. The security of bitcoin is very high if we know how to use it, and no hacker can penetrate and steal our bitcoin. The important thing is your usage, it affects the outcome of this conversation. I'm sure, if you are a careful person, you will never lose any money.
yes there is no doubt about that bitcoin is strong enough, i think bitcoin will continue to become more and more stronger,  because the users of bitcoin are increasing from time to time and very soon all the people of the world will start using bitcoin.
yes there is no doubt about this that bitcoin is strong enough, and people are making it more and more strong, because people ar accepting bitcoin more and more which is really making its position more and more stronger.

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