|
BartS
|
 |
October 10, 2017, 10:12:27 PM |
|
Bitcoin being hacked cannot really happen because of its security. Wallets can be hacked but the whole system cannot be hacked. And their belief that it would crash is simply impossible, blockchain is not a single server.
Common people have a realty hard time grasping bitcoin decentralized nature, they think that bitcoin has to be something like paypal, just another form of payment and they do not realize that bitcoin is its own currency with its own set of features that cannot be replicated by traditional currencies, this is why I think we have not seen major adoption yet. |
|
|
|
|
|
|
|
|
|
"The nature of Bitcoin is such that once version 0.1 was released, the
core design was set in stone for the rest of its lifetime." -- Satoshi
|
|
|
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
|
|
|
|
|
OneNattyLitecoin
Sr. Member
 Offline
Activity: 356
Merit: 335
If you don’t believe, why are you here?
|
|
October 10, 2017, 11:09:12 PM |
|
I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry.
It is called a Death Spiral. http://bitcoinandtheblockchain.blogspot.com/2017/08/chain-death-spiral-fatal-bitcoin.htmlYour Friend is right, ASIC miners will go wherever the profit is greatest , within a year or so that will be Bitcoin Cash not Bitcoin. ╥Aztek Bitcoin cash? That shitty coin that was supposed to be better than Bitcoin but still is trading for a fraction of the real thing? Last time I checked BCC was worth even less now than it was after the launch and it's been months... Who are you trying to fool?  My buddy just came back from a conference in Hong Kong. Go there with your bch valuation and it will fall on deaf ears. A lot of big players are stacking up bch at these prices. Just saying don’t get caught off gaurd when bch blows up, that is all. On topic, your buddy knows that MT Gox and bitfinex were not bitcoin hacks, correct? As long is hacked is defined as cannot counterfeit or brute force a priv key with a known public address, you’ll be good. But realistically, If I hacked bitcoin I’m certain that I’d tell absolutely nobody. |
|
|
|
|
reingard
Newbie
Offline
Activity: 45
Merit: 0
|
|
October 10, 2017, 11:12:53 PM |
|
you will be proven wrong bro. it is very difficult to predict on the individual level you are just predicting it on the behalf of your experience and knowledge and we know that many countries in the world are legalizing it. as we have seen that australia have just recently legalize it. so, i don't think any country in the world should legalize it without checking its security level or its administration.
Doesn't matter. Bitcoin will always have a market, even if every major country prohibit it. That's why there is a dark market for everything. |
|
|
|
|
drm
Legendary
Offline
Activity: 1176
Merit: 1005
|
|
October 10, 2017, 11:13:37 PM |
|
For someone who works in the it sector you'd think he'd have done some better research about bitcoin.
|
|
|
|
|
|
Indrawan77
|
|
October 10, 2017, 11:16:29 PM |
|
I think you are going to win this bet, the positive movement is keep on happening to bitcoin, so there is only a small chance where bitcoin will be crashed and bitcoin got a pretty solid security, it wont be that easy to hacked bitcoin, I believe in two years bitcoin will still on the top and the popularity will be very high, and bitcoin is more popular in entrepreneurs because they saw it as an opportunity to earn profit
|
|
|
|
|
|
BartS
|
|
October 16, 2017, 06:05:54 PM |
|
I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.
Is this a joke?, well if this is real or not, one thing is for sure, bitcoin developers are continuously strengthening the bitcoin system. 2019 is near though but still i believe that there are no "secure" system. Bitcoin is hack-able for sure but i am not certain how it will happen, and another thing. I do not believe on what you say that most people you know that are in IT field is not interested in bitcoin is somehow unbelievable. The technology of Blockchain is awesome and i thought they should learn and use it for a better efficiency on their system. I know a few people in IT and that was my experience too. They aren't very interested in bitcoin. Especially not in investing in it. Some never looked into bitcoin. Some still think it is a ponzi scheme or another scam. Others say that it can't be used for services without converting to euros or dollars first so it won't get anywhere. I gave up trying to talk to some of them about it. My IT Professor/ a security Professor introduced me to bitcoin. There are lots of IT people are just focusing on their job, they must also be updated on new technologies like blockchain, this is unbelievable, like really. Blockchain is just an awesome way of recording data, and bitcoin's process of transaction is also awesome that it could be used in different systems. It depends on the individual, there are IT professionals that are always updating their resumes and getting new and valuable skills but there are some that do not do that and keep doing the same thing for a long time, then when they are fired and need to get a new job most of the time are surprised by the fact that their skills are completely outdated and that they need to learn new skills again. |
|
|
|
|
|
uszaty43
|
|
October 16, 2017, 07:02:21 PM |
|
There is only one year and a few months left until 2019, and i am pretty sure that there is not going to be any crash or hack into the security of bitcoin or the way that it works, it is fully protected and everybody has their own security to prevent hacking or cracking on their wallets.
there are small chances for it to happen, maybe your friend is angry because he could not buy bitcoins at a cheaper rate.. poor of him. good luck for this bet mate.
|
|
|
|
|
xBitHodler
Member
Offline
Activity: 112
Merit: 10
|
|
October 16, 2017, 07:16:58 PM |
|
What is "crash" for you? Correction of the price happens sometimes, would you consider is as crash? $50000 is quite a lot but I can understand you. If I were you, I would do the same. I believe Bitcoin will be worth a few times more in 2019. A lot of countries my introduce Blockchain technology by that time. Maybe certain country will adapt Bitcoin as a currency?
|
|
|
|
|
|
kevoh
|
|
October 16, 2017, 07:22:27 PM |
|
I do not know why I find the story difficult/hard to believe. Anyway, bitcoin crashing or being targetes for hacking are possibilities but I believe Bitcoin will survive if any of them happens.
For your bet, I think you stand a chance of winning.
|
|
|
|
|
|
BartS
|
|
October 22, 2017, 04:46:14 PM |
|
There is only one year and a few months left until 2019, and i am pretty sure that there is not going to be any crash or hack into the security of bitcoin or the way that it works, it is fully protected and everybody has their own security to prevent hacking or cracking on their wallets.
there are small chances for it to happen, maybe your friend is angry because he could not buy bitcoins at a cheaper rate.. poor of him. good luck for this bet mate.
The only way I could see an scenario like that happen is if quantum computer were in fact decades more advanced than we thought and they used those to destroy bitcoin, but if the data we have is correct it is going to take a lot of time before quantum computers become faster than regular computers and by that time we will have time to protect bitcoin against them. |
|
|
|
|
|
MrCrank
|
|
October 29, 2017, 03:58:36 PM |
|
I have just made a $50 000 bet with one of my friends. Come 2019, i hope they will honor this bet. They think that in 2 years Bitcoin will either have crashed or will have been hacked. This person is supposed to be in the IT security industry. I find it quite interesting that most people I know in IT are not interested in bitcoin. Most people interested in bitcoin in my circles are entrepreneurs.
Bitcoin can't hack. To hack SHA-256 is impossible. If this happen with SHA-256 - many service, bank, etc will be hacked too:) |
|
|
|
|
|
