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Author Topic: Is Bitcoin Hackable?  (Read 2515 times)
kevoh
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October 28, 2017, 07:24:38 AM
 #21

Yes everything is hackable in my opinion and the hacking depends largely on the time, the place and most importantly the 'intention', if the intention is really worth it.

So the question is, is the intention to hack Bitcoin (not the various Bitcoin wallets) really worth it?

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October 28, 2017, 07:32:50 AM
 #22

All is hackable, above all if it is a online system.
But i think that is not easy to hack the bitcoin system, and the team is constantly work to make secure their systems

Ask that question of the 1,000's of people who have lost 10's of millions of USD, think mt-gox or ethereum faux wallets

There are many elements of hacking BTC,

1.) fake web sites that look real, which harvest private keys ( most common easy way to make $5 Million USD in one afternoon )

2.) mt-gox type infiltratin of exchanges where private-keys are held, another easy way for 'hackers' to gain access to millions quickly

3.) the mother of all of course is breaking the sha-256 hash, "Google Brain-Flayer", its been done, but that gig is over, there are many advanced NSA tricks for breaking ECDSA, which is how FBI can any time it wants get the private key for any address ( think silk road BTC auction )

4.) the theory of experts is that NSA created BTC to wait and see when the PUBLIC would/could break SHA-256, I speculate it will be broken by public within 2-3 years, before that GOV will send out a policy statement and tell all GOV to use SHA-512; banks will be kept on easy to hack stuff forever, and they'll keep public on SHA-256 as long as they wish

5.) Large Bitcoin Collider - this project if it gets 1k, or 1m users, all targeting their asic/gpus farms towards any specific address say 'satoshi1', then selective hacking will be gold, and just like mining pools, people will be paid a share of the profit as high value coins are hacked,.. How soon? Again it just depends on how quick he can get ppl aboard.

Eventually BTC will update itself to SHA-1024, so this is all no big deal, for safety keep your wallet in cold storage and printed, keep your BTC's off of these 99% fraudulent exchanges that just churn your BTC's for "FEES"

Lot's of people working on hacking SHA-256, I know the NSA can do it, and I suspect that folks 'private' in Israel are doing it on as-paid basis, just a matter of time before we get a little better HW, and sometime discovers a new ALGO for SHA-256, in general what the public see's is 15 years behind advanced industry and GOV, FYI in 1968 Tooley published "FFT", but Standard Oil discovered it in 1956 and was sharing with NSA, 17 years it took before Academi caught up with adv-gov-tech

so many information, and your source is ?

but yeah bitcoin can be hack if they have your private key they can take it from you with phising site or email or any rat app you download without you know

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October 28, 2017, 07:33:02 AM
 #23

Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?

You can say its hackable because its on Internet, but it isn't easy to hack bitcoin otherwise by now, all the big hackers would have been quite rich and people would stop using bitcoin much due to its vulnerability.
It is hackable, but one can take some precautions or some steps to make it secure.  

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October 28, 2017, 07:34:07 AM
 #24

When anything digital is form of 0 1, there is still chance but the efforts needed is enormous and yet to be exploited. Present security measure on cryptocurrency are still considerably very safe though, private keys and 2FA are very reliable as long your device is not compromised before implementing them. So far i haven't hear any type of hacking methods that could render these security measure useless other than hijacking/human error. As for the bitcoin network itself just google and you would know difficult was it to 'HACK' the entire blockchain and steal your bitcoin by resolving the entire blockchain with maybe an alien supercomputer from outer space.

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October 28, 2017, 07:47:39 AM
 #25

All is hackable, above all if it is a online system.
But i think that is not easy to hack the bitcoin system, and the team is constantly work to make secure their systems

Ask that question of the 1,000's of people who have lost 10's of millions of USD, think mt-gox or ethereum faux wallets

There are many elements of hacking BTC,

1.) fake web sites that look real, which harvest private keys ( most common easy way to make $5 Million USD in one afternoon )

2.) mt-gox type infiltratin of exchanges where private-keys are held, another easy way for 'hackers' to gain access to millions quickly

3.) the mother of all of course is breaking the sha-256 hash, "Google Brain-Flayer", its been done, but that gig is over, there are many advanced NSA tricks for breaking ECDSA, which is how FBI can any time it wants get the private key for any address ( think silk road BTC auction )

4.) the theory of experts is that NSA created BTC to wait and see when the PUBLIC would/could break SHA-256, I speculate it will be broken by public within 2-3 years, before that GOV will send out a policy statement and tell all GOV to use SHA-512; banks will be kept on easy to hack stuff forever, and they'll keep public on SHA-256 as long as they wish

5.) Large Bitcoin Collider - this project if it gets 1k, or 1m users, all targeting their asic/gpus farms towards any specific address say 'satoshi1', then selective hacking will be gold, and just like mining pools, people will be paid a share of the profit as high value coins are hacked,.. How soon? Again it just depends on how quick he can get ppl aboard.

Eventually BTC will update itself to SHA-1024, so this is all no big deal, for safety keep your wallet in cold storage and printed, keep your BTC's off of these 99% fraudulent exchanges that just churn your BTC's for "FEES"

Lot's of people working on hacking SHA-256, I know the NSA can do it, and I suspect that folks 'private' in Israel are doing it on as-paid basis, just a matter of time before we get a little better HW, and sometime discovers a new ALGO for SHA-256, in general what the public see's is 15 years behind advanced industry and GOV, FYI in 1968 Tooley published "FFT", but Standard Oil discovered it in 1956 and was sharing with NSA, 17 years it took before Academi caught up with adv-gov-tech

so many information, and your source is ?

but yeah bitcoin can be hack if they have your private key they can take it from you with phising site or email or any rat app you download without you know

Source??? Google is your friend, I have given all you need above, if you just google.

"Google is NSA" - Putin.


...

Give me an address, and I will hack it, it can be done, that's what LBC is all about, this is what EDCSA-sorting is all about, and bloom-filters. It can be done. It's just not done where it attracts attention.
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October 28, 2017, 08:01:22 AM
 #26

Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?

Yew, bitcoin is hackable because it is in the online system. We all know that there many people who are expert in using internet, they can hacked an account whenever they want, specially when they knew that it is for them to hack it. So, if you have a big money make sure your wallet or your bank account have a strong security. Therefore, you may sure that your money is safe.

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October 28, 2017, 08:44:15 AM
 #27

Yes, it is hackable but the thing is, it would take tremendous effort and resources so it might not be profitable for the hacker. Hacking a private key for example would take a ridiculously long time. They also need to compromise at least 51% of the hash rate in the world and that is almost laughable as one need to own thousands of supercomputers first to even make a dent.

51% has to do with adding a transaction to a block-chain, and once a new transaction has 51% consensus it stays and the longest blockchain wins the battle on the de-centralized network.

This HAS NOTHING to do with security, SATOSHI created "51%" to solve the double spending problem.

Now security, which is what we're talking here, is that there is a KEY, a private key and a public key, your address is public, and if I KNOW your Private KEY then YOUR Money is MINE.

Now that question to be asked about "HACKING BTC", is HOW do I get YOUR BTC private key?Huh

Well it can be done, and above I explained how its done, and if you google, you can learn.

On the question of infinite time and hash-power that's not true, while true on 'brute force' ( dumb search ), a sophisticated sorted butter-fly algo can drop the search space to 2**32, current 'infinite bullshit' is 2**50, or 2**128, but advanced researchers who study EDCSA see patterns and figure out algos to reduce the search space to 2**32 or less, and then it can be done in short-time computationally.

The problem as shown on this topic and OP, is that the majority here don't have a clue about BTC or how it really works.

The OP asked a good question, but the normal BOTS&TROLLS stepped forward with the normal canned bullshit, sure in a world of MORONS BTC can't be broken, that was the idea behind "Brain Wallet", and all the lemmings that followed that moron lost their BTC.

Just a few years ago RSA with 128 bits was impossible to break, but then one day a guy discovered they were seeding with ports which were 2**10, which meant that if you search a small seed-space you could break the CRYPTO in a few minutes to this day BANKS still use RSA, which is well understood how to hack.

Same with BTC ( sha256 ), smart people study patterns and figure out how to reduce the search space so that a crypto-puzzle can be quickly solved.

***

All of this is BULLSHIT really because anytime BTC wishes they can move from SHA-256 to SHA-1024 and make BTC impossible to break, IMHO the ASSHOLE hold BTC back to SHA256, because the ASSHOLES want to be able Steal "asset forfeiture" as they wish, just like they do now with banks.

Ergo if BTC doesn't get off its ass, then the zcoin ( zencash ), ... will be where the crypto-anarchy people go, and BTC will be for assholes & morons.
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October 28, 2017, 08:50:47 AM
 #28

I will say it is dependable on the wallet. While some wallets are susceptible to hacking others are more prone.

But once all security features are activated you should be safe.
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October 28, 2017, 11:47:00 AM
 #29

Yes, almost all the threads in Meta are enough proofs to say that bitcoins are hackable. More or so, there are lot of scammers too. New accounts seems to find ways to gain faster nowadays by hacking and scamming bitcoin users here. Old members seem to trust services because of past experiences that are smoothly done. But in my opinion, all must be very careful now. Scammers and hackers are everywhere.

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October 28, 2017, 12:22:05 PM
 #30

Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?

Yes. everything on the cyber world is hackable and it depends on the hacker's skills. But in bitcoin I think the security of bitcoin is strong and for me it is hard to hack because bitcoin or all cryto coins have their own private-keys and depends on the wallets you are using, coin addresses are generated in random so make sure you don't give it easy to anyone that suspicious.

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October 28, 2017, 12:24:00 PM
 #31

To me things based on internet are hackable.no matter how strick security you provide it is still on some risk.

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October 28, 2017, 12:27:44 PM
 #32

It can be a hackable but its hell of hard to hack bitcoin network. Kinda like close to impossible but still chances are someone may break it. He must be a head genious than satoshi nakamoto. Grin

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October 28, 2017, 12:42:03 PM
 #33

Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?


Yes, there is a high possibility that a hacker will hack bitcoin if it’s not that safe. But, the good thing about bitcoin is it is secured, so it will be more difficult to hack. This is what I think.

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October 28, 2017, 12:48:10 PM
 #34

Bitcoin is hackable or not depend on you keep your wallet private key safe or not cause there are no way to hack Bitcoin if hacker doesn't know any informations about the wallet you are using to keep your Bitcoin. Beside if you use web wallet I think it's a little bit more difficult to hack cause when anyone want to withdraw Bitcoin from your web wallet they need to know the code sent to your phone so it's impossible to hack your Bitcoin if they can't hack your phone Smiley). Beside what does Bitakayena mean?
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October 28, 2017, 12:53:56 PM
 #35

“Bitcoin itself, and most of the other cryptocurrencies, have never been hacked or even really had any downtime,” said Chris Wilmer, an assistant professor at the University of Pittsburgh and the founder of Ledger, an academic journal covering the blockchain technology at the heart of Bitcoin.
There is one type of attack that could affect the bitcoin network: the 51 percent attack, which is widely considered to be bitcoin’s greatest inherent flaw. Because it is decentralized, bitcoin is vulnerable if any one player or cartel gains control of 51 percent of the computing power of all miners. This would allow them to stop transactions and reverse transactions, which would throw the network into chaos. In the past, at least one group has achieved control of 50 percent of the network. However, the more people using bitcoin, the safer it is — and more people are using bitcoin now than ever. It’s difficult to get an accurate count of how many users bitcoin has, but the estimates are in the millions.
Where Bitcoin becomes truly insecure is when other technology starts to get involved. Bitcoin was conceived as a “trustless” system; you don’t have to trust any centralized party in order to use your money, because transactions are facilitated by other members of the network. In reality, bitcoin is too complicated for most people to use without mediators such as apps, wallets, and other digital currency services. The biggest need is for third party exchanges, which are sites where bitcoin is bought and sold for other currencies. All these third party services are only as safe as their own security. Mt. Gox, arguably the most famous example of an exchange going belly up, filed for bankruptcy in early 2014 after around 850,000 bitcoins went missing.
Bitcoin is still largely unregulated, which means your money isn’t insured and there is often no accountability for exchanges. So while bitcoin tech itself remains unhacked, the methods used to collect, buy, and sell remain as potential attack vectors.
The biggest threat to Bitcoin, then?
“It’s people,” said Simon Bain, CEO of BOHH Labs, a 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.”

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October 28, 2017, 12:56:51 PM
 #36

Now everyone is investing heavily on Bitcoin. But can anyone hack this Bitakayena? If Bitcoin means hacks, then there will be a lot of damage. Where is Bitcoin's hidden security?
All internet related accounts can be hacked by hackers because they will find more technique to stole your account money and other important things you have.

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October 28, 2017, 01:09:17 PM
 #37

Based on my own opinion all internet related programs or applications or even sites are hackable but  for me bitcoin is very difficult to hack.

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October 28, 2017, 01:20:02 PM
 #38

Bitcoins is very very difficult to be hacked if ever. Because of the number numbers in each account that you need to arrange before you can hacked it.

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October 28, 2017, 01:25:00 PM
 #39

Everything on the internet is hackable, but the question is , will it be easy, I am sure bitcoin should be hackable but wont be that easy.. Minor hacks like targeting a person and stealing his private keys should be the easiest but hacking the network .. thats a story for another time
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October 28, 2017, 01:27:22 PM
 #40

Bitcoins is very very difficult to be hacked if ever. Because of the number numbers in each account that you need to arrange before you can hacked it.

Bitcoin private key is really hard or we can say impossible to hack but the wallet can be hacked if they security measures are not set if the user has weak password and has not enabled all other security features, but Bitcoin it self is unhackable. We have not seen any case in which Bitcoins are hacked.
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