Urgent: Bitcoin can be hacked!

[Sir Alpha_goy]

For those of you who think that Bitcoin is unhackable I urge you to think again.

I am not not talking about traditional hacking as in a hack against the core software.

I am talking about perception.

HACK:
http://www.dictionary.com/browse/hacked?s=t

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Many people overlook this unprotected area of Bitcoin and may not have contingencies planned out accordingly.

These are just a few examples of how Bitcoin's image gets hacked.

http://www.wsj.com/articles/in-the-bitcoin-era-ransomware-attacks-surge-1471616632
http://money.cnn.com/2016/08/03/technology/bitcoin-exchange-bitfinex-hacked/
http://www.coindesk.com/european-union-proposes-tighter-bitcoin-controls-panama-papers-response/
http://www.coindesk.com/us-treasury-bitcoins-use-to-fund-terrorism-remains-unclear/
http://www.smh.com.au/world/australia-to-regulate-bitcoin-under-counterterrorism-finance-laws-20160808-gqnne2.html
http://www.defenseone.com/threats/2015/02/terrorism-finance-trackers-worry-isis-already-using-bitcoin/105345/

Remember that Bitcoin's inherent disruptive nature (technology disruptor) adds to the already uncertain global financial stage.

With this in mind I would like to point out an alternative for you to consider when Bitcoin's image is under attack.

Gold and silver has been around for a long long time and many of you are already aware of its existence in bullion form.

However, some overlook the fact that gold and silver provide the physical backbone of Bitcoin's existence.

That equipment you use to mine Bitcoin contains gold and silver.

That PC, tablet, or smart phone you are using to make transactions with or make a trade contain gold and silver.

In the form of gold plated contacts down to that Rohs compliant solder which contains one of the best conductors in the world (silver) precious metals are there to help make Bitcoin tick.

Without the precious metals and a host of many other raw materials Bitcoin obviously would be nonexistent.

Unlike the other raw materials, precious metals has been monetized for thousands of years.

They have always been considered a safe haven in times of uncertainty.


Here are just a few of the perks of expanding your portfolio into precious metals:

-Gold and silver has been backed by governments around the world since the 1980's. The United States, Canada, Mexico, Australia, China, Great Britain, and Austria are all countries that have put into law that they must provide it's citizens with gold and silver bullion as needed by demand.

-Precious metals can be used in Individual Retirement Accounts (https://en.wikipedia.org/wiki/Gold_IRA)

-You can protect your hard earned Bitcoin profits from exchange related hacks that cause the Bitcoin price to plummet unexpectedly.


If you are interested in exchanging Bitcoin for precious metals in attempt to solidify your investment portfolio do a google search and you will be sure to find some reputable dealers that offer up such a service.

https://www.google.com/#q=buy+gold+with+bitcoin

Only a fool puts his/her eggs in one basket.

[newIndia]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

[cpfreeplz]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

Haha this isn't even the right definition. That's the literal definition of hack. Are you joking? You know that this is describing taking a hatchet and chopping up a piece of wood right? My God what a stretch.

The Blockchain can't be hacked. It's a public Ledger. Do you want me to define Ledger for you?

[franky1]

OP's motive:
precious metals

OP's objective:
sell his precious metal because he wants more bitcoin.
in short if he wanted to keep precious metals he wouldnt be handing them out to then grab bitcoin from people buying his precious metal.

its a simple reverse psychology.. he want you to hold less bitcoin and hold more precious metal..so that he can hold less precious metal to hold more bitcoin

[dunfida]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

Absolutely right is sha256 would be easily hacked or decrypted then for sure not only Bitcoin would be affected but also all Internet banking system would also included same as you said. For sure people won't believe these claims since Bitcoin surpasses countless situation of problems.

[Shiroslullaby]

I have no idea about OPs true intentions, but you certainly make some interesting posts on this forum.

It's not bad advice, though.
If you really want to make money investing long-term, you should diversify your funds a little.
Buying some precious metals is never really a bad idea. I could never see the price of gold and silver falling that much.

[pakitz]

OP's motive:
precious metals

OP's objective:
sell his precious metal because he wants more bitcoin.
in short if he wanted to keep precious metals he wouldnt be handing them out to then grab bitcoin from people buying his precious metal.

its a simple reverse psychology.. he want you to hold less bitcoin and hold more precious metal..so that he can hold less precious metal to hold more bitcoin

I do agree with you mate. He has some good agenda though. Anyways lets cut that crap. Bitcoin can't be hacked.

[shinohai]

This is some of the finest concern-trolling I have yet seen. I have saved this entry for future lulz.

[calkob]

strange post and a sensationalist subject headline    as already has been said the only way to hack bitcoin is to break SHA256, which aint gona happen, and even if it did we just star again with another method of encryption, simple

[sandaq]

If you can give me a scenario where such asteroid that obliterated Earth would not render SHA256 obsolete I'd love to hear it.

Well, just from the top of my head, SHA256 is pretty good so I bet alians also use it.

The rest of your post is simply silly.

[serjent05]

If you can give me a scenario where such asteroid that obliterated Earth would not render SHA256 obsolete I'd love to hear it.

Well, just from the top of my head, SHA256 is pretty good so I bet alians also use it.

The rest of your post is simply silly.

I agree the OP post has lots  of nonsense in it.  It is already stated that to hack bitcoin they must hack the sha256 system, and hacking so if succesful will not  only compromise bitcoin security but all of banking security in the  world.  He keep pushing precious metal, i can say we hear you, and somehow agree that one shouldn't put all his egg in 1 basket.  

[cpfreeplz]

Time and time again I hear Bitcoin advocates claiming that it is superior based on it's technology alone.

I can think of another currency that was based on it's technology of the time and perception alone.....the U.S. dollar.

Now look at it.

It has been "hacked" to death and has been on the verge of meltdown for years.

The entire financial system based on fiat currency is on the brink of falling down a hole for that matter.

Enter Bitcoin.

You want to know the same thing Bitcoin has in common with the U.S. dollar?

It refuses to be backed by precious metals.

I think some metals dealers recognize this and wish to untie the two to some degree.

We can repeat history all over again or we can pave a new road where prosperity can be achieved on a wider scale.

But I can see why some of you can't see this.

It requires vision.





 

Oh so now you're letting us kno your motives. Why precious metals? What if people start mining gold that they find on asteroids flying by and it crashes to $3/lb? What then?

Bitcoin is based on the amount of energy used to 'create' a coin. And comparing a USD to bitcoin is like comparing a set of stairs to an escalator. One will keep going forever until it stops working (USD 'print some more money, we're running low!') and the other will get you to one location then stop (bitcoin. 21M. That's it that's all).

To put all of your money in one investment is stupid. If you're 100% invested in bitcoin, you haven't thought it out much. Same with precious metals. Sure now they're stable, but what about the huge gold rush? 

[Denker]

OP is a known troll.
To be honest I have no idea why I'm always wasting my time and reading this kind of posts.
Bitcoin is fine and therefore it is absolutely nothing to see here.
Keep your metals or whatever, I will definitely hold my BTCs and not sell any satoshi.

[machinek20]

All the internet has the possible to be hacked, but if it encrypted with the right way, the percentage of you break into somebody account is less than 1%, so no need to worry about your bitcoin, just be careful and put a longer password

[amacar2]

Bitcoin being hacked from online exchangers or from any services/ wallets/ laptops are not problem related with bitcoin or its blockchain itself. As well as anything which is stored online can be stolen or hacked so bitcoin shouldn't be considered as susceptible to hack, misleading info.

[Kprawn]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

The motivation is clear... just have a look at his post history. This is one of the shills on Bitcointalk.. smack talking the technology. By the

looks of this post, he wants people to rather invest in silver and gold.  ... He will counter this post with stupid logic, trying to deny this

and telling us that we are attacking everyone that is not for Bitcoin. We are here to talk about Bitcoin, not precious metals. 

[mexicotaco]

OP is a known troll.
To be honest I have no idea why I'm always wasting my time and reading this kind of posts.
Bitcoin is fine and therefore it is absolutely nothing to see here.
Keep your metals or whatever, I will definitely hold my BTCs and not sell any satoshi.

I don't understand Op's post at all, bitcoin can't be hacked so far, or the price is crashing now, and i saw he cursed some people, I feel not good.

[Velkro]

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

This one, and bitcoin can easily switch to other hashing algorithm then, not cracked one
So worry not, bitcoin will here to stay!!!

[BiTZeD]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

Exactly what I was thinking of. The links to exchanges are hack not related to Bitcoin but to its infrastructure, run by private entities. In the Old West when gangsters robbed bank they were not hacking gold...

[Kprawn]

Not sure about your motivation to post this. But, for those of who think that Bitcoin is unhackable, are not interested in your definition...

to damage or injure by crude, harsh, or insensitive treatment; mutilate; mangle:

Bitcoin can only be hacked, if SHA256 is hacked. And if SHA256 is hacked, all the internet banking is broken. So, instead of billion dollar bitcoin, u may worry about trillion dollar internet banking.

The motivation is clear... just have a look at his post history. This is one of the shills on Bitcointalk.. smack talking the technology. By the

looks of this post, he wants people to rather invest in silver and gold.  ... He will counter this post with stupid logic, trying to deny this

and telling us that we are attacking everyone that is not for Bitcoin. We are here to talk about Bitcoin, not precious metals. 

But you already invest in silver and gold 

PC =  contains silver and gold
Tablet = contains silver and gold
smart phone = contains silver and gold
asics = contain silver and gold
graphics cards = contain silver and gold

Silver and gold is very much a part of Bitcoin and you are already investing in them.

If you didn't use these metals you would not be able to use the devices for very long at all.

Not sure why all the negative sentiments for the raw materials that build the backbone of Bitcoin itself?

As far as the technology goes it is good.

Not bullet proof though.

To believe the opposite is foolish at best.

From the looks of it many of the posters replying have been trying to divert the conversation to SHA256 credibility which is not what this thread is about.

The first three lines of post 1 could tell you that.

BTW no one forced anyone to talk about precious metals with me.

I suggest anyone believing that I am a shill that presents nonsense to stay clear from what I have to say.

If you see my name on the forum disregard and continue to follow the status quo.

You already succeeded in your goal... create a thread that draws attention.. most people are too lazy to read any further, and will just

read what you posted. Your reply to me, is clear misdirection to divert attention away from your shill behaviour. It is our task as Bitcoin

supporters to counter threads that promote anything other than Bitcoin on a Bitcointalk forum. How would the forums dedicated to silver

and gold feel if we spam them with Bitcoin promotions?