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Author Topic: Bitcoin can be hacked?  (Read 3938 times)
Major_Troubles (OP)
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October 16, 2017, 09:20:01 AM
 #1

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?
AGD
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October 16, 2017, 09:21:58 AM
 #2

No, it isn't.

Bitcoin is not a bubble, it's the pin!
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October 16, 2017, 09:39:55 AM
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I think Bitcoin can not be attacked because Blockchain technology is now growing and no one knows how Bitcoin was created. Only exchanges are attacked and this really does not affect Bitcoin
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October 16, 2017, 09:54:28 AM
 #4

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?
no i doubt it,with all the technology and mind inside bitcoin industry that conceptualize,and with the highly security blockchain has,no one or no body can hacked bitcoin,thats for sure

rarkenin
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October 16, 2017, 10:11:47 AM
 #5

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?

If you talk about bitcoin wallets, answer is yes! You are responsible to securely store your bitcoins. My advice is to afford 80 bucks for purchasing hardware wallets like trezor,ledger.
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October 16, 2017, 10:17:58 AM
 #6

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?

Can you give us one scenario that bitcoin has been attacked before?

Blockchain, the underlying technology behind bitcoin has no history of such attacks, although it has been spammed before causing the network to clogged down a little. And with regards to bitcoin wallet, its your own responsibility to protect it against hackers, like having strong passwords, 2FA and secure your private keys. I hope you can research first before posting here because it looks like you don't have a clue what bitcoin/blockchain is.

 
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October 16, 2017, 10:18:40 AM
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I think bitcoin can not be fi hack because it's hard to do, what hackers do is take your bitcoin because you give a little gap where you do not give security to your account
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October 16, 2017, 10:20:07 AM
 #8

Techonology: It's Not
if we are talking about the user perspective that can be possible!  Cool
salihno71
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October 16, 2017, 10:22:39 AM
 #9

The weak link here is human. If you don't take precautions, it is possible. You should keep your wallet and private keys safe. Directly, it is not possible like via brute force or some other known method.
TooDumbForBitcoin
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October 16, 2017, 10:27:06 AM
 #10

Techonology: It's Not
if we are talking about the user perspective that can be possible!  Cool


If somebody will get 51% of hashrate then technologically also possible. You can also learn about all bitcoin weaknesses from http://en.bitcoinwiki.org/Bitcoin_weaknesses



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October 16, 2017, 10:27:50 AM
 #11

If you mean hacking wallets, then yes, wallets can be hacked and many users got hacked before and many others will be in the future because wallets security depends on the user himself. But if you mean hacking the Bitcoin as a running network, I think that will be hard if not impossible because the concept is based on decentralization and with more users accessing the network the security becomes stronger and stronger.

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October 16, 2017, 10:36:37 AM
 #12

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?
It depends on what you are referring. Bitcoin can be hacked through Bitcoin platforms like exchanges and hacking users device where they store their bitcoin wallets and private key. But if you are referring to Blockchain which runs the Bitcoin network it will be hard and is very unlikely to happen. The blockchain can't be tampered with unless some malicious nodes get more hash power than honest nodes (greater than 51% of the hash power of the network). It's very expensive to conduct a hack on the network as the computing resources required to do so are immense.
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October 16, 2017, 10:42:00 AM
 #13

I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it.  I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.

But, is it possible?

How can you attack something that doesn't take your username and password. The 51% attack is their best mode of attack but there are contingencies in place. Besides it is more profitable to allow Bitcoin to persist. So no one will make that attempt. For this mode of attack is very expensive. Not even affordable ever.

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October 16, 2017, 10:55:28 AM
 #14

I think Bitcoin can not be attacked because Blockchain technology is now growing and no one knows how Bitcoin was created. Only exchanges are attacked and this really does not affect Bitcoin

Of course it would affect bitcoin.
A successful attack, where someone steals huge amounts of coins from an exchange would be very bad for the value of bitcoin. Remember MtGox?
Such attack would erode peoples trust in bitcoin and crash its value even if it would be caused by exchanges bad security.

 

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October 16, 2017, 10:58:58 AM
 #15

The biggest threat to Bitcoin cybersecurity startup focused on banking. It’s always been people, and it always will be people. There are good people, and there are not-so-good people, and those not-so-good people want to grab hold of your information. If you leave that information in the hands of let’s say, seven miners, then at some point those not-so-good people are going to go to one of those miners, and that miner is going to be exploited — whether they know it or not.”
Major_Troubles (OP)
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October 16, 2017, 11:03:33 AM
 #16

I think Bitcoin can not be attacked because Blockchain technology is now growing and no one knows how Bitcoin was created. Only exchanges are attacked and this really does not affect Bitcoin
But there people creating a lot of new "bitcoins". For example - christcoin (actual religious coins Grin).
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October 16, 2017, 11:04:02 AM
 #17

If you are referring to bitcoin as blockchain platform ,then it's very hard ( if not impossible) to hack it since it's highly secured but when talking about exchanges platforms and stored wallets in devices , then yes , hacks can affect user data and can harm his privacy .
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October 16, 2017, 11:10:33 AM
 #18

I haven’t heard of Bitcoin Blockchain being hacked but there are plenty of cases of BTC wallets and exchanges being hacked.

For users, the hacks are usually because of private keys being stolen or scammed. This is why we have to keep private keys safe and not store in computers that are vulnerable by malware attacks.
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October 16, 2017, 11:11:00 AM
 #19

Bitcoin is very safe unless you are careless enough that your passwords are stolen by someone, but those online wallets are design privately so that only the owners can have the access over it without worying somebody can also access it so I think its impossible for bitcoin to get hacked by someone.

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October 16, 2017, 12:44:56 PM
 #20

I don't think so. Bitcoin has been invented in a highly secure mechanism. so that Bitcoin hacking is not possible, though, in the technical area, Nothing is impossible. But many experienced hackers have made a lot of abortive effort to unlock Bitcoin platform so it can be said that Bitcoin is going to be hacked anymore.
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