Bitcoin can be hacked

[freightjoe]

Many say that Bitcoin is the safest way to hold value because Bitcoin cannot be hacked. But for many users that is not true.

It depends on how you look at it. Think about this first:

I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.

Of course it is true that no-one can open your door, but it is not true that the house cannot be robbed. The thief can smash the window, pick your pocket when you are on the street, trick his way into your house and so on and so on.

In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.

But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.

When you hear "Bitcoin cannot be hacked", many take this to mean that their Bitcoin cannot be stolen.

They are not technically knowledgeable so when they hear the words "cannot be hacked" they believe it menas their money is safe. For them "Bitcoin" is the whole collection of the ledger, the wallet, the exchange, their own computer

Many have their Bitcoin stolen, and therefore for many people they have to stop believeing that Bitcoin cannot be hacked.

For most non-technically knowledable people, the true phrasing is that Bitcoin can be hacked, and is being hacked on a daily basis.

[Ferayleyos]

A quantum computer can crack ethereum and bitcoin in 1 hour. So now there are many forks that are more protected

[pawel7777]

What's the purpose of this topic?

Are you suggesting that we should abolish certain phrases, even if they're correct, just because someone could misunderstand and take it the wrong way?

I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.

No, think of it this way: if you invented genuinely 100% secure lock, would you be marketing it as 'unsecure' just because burglars could get in through the window?

But yes, if you ever see anyone claiming "Bitcoin can't be hacked, therefore your bitcoins can't be stolen" then feel free to call bullshit on that.

[Phantomberry]

It is impossible too hack bitcoin because of it security although you give your private key or paper wallet to someone.

[tomforgery]

Simple answer bitcoin network can’t be hack but wallet can hacked so that it is back to user

if you smart can’t lost money otherwise will lost

[freightjoe]

It is impossible too hack bitcoin because of it security although you give your private key or paper wallet to someone.

You clearly didn't read and/or understand the post

[freightjoe]

Simple answer bitcoin network can’t be hack but wallet can hacked so that it is back to user

if you smart can’t lost money otherwise will lost

Which is exactly what I was writing - didn't you read it or didn't you understand it?

[stevanprice]

Many say that Bitcoin is the safest way to hold value because Bitcoin cannot be hacked. But for many users that is not true.

It depends on how you look at it. Think about this first:

I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.

Of course it is true that no-one can open your door, but it is not true that the house cannot be robbed. The thief can smash the window, pick your pocket when you are on the street, trick his way into your house and so on and so on.

In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.

But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.

When you hear "Bitcoin cannot be hacked", many take this to mean that their Bitcoin cannot be stolen.

They are not technically knowledgeable so when they hear the words "cannot be hacked" they believe it menas their money is safe. For them "Bitcoin" is the whole collection of the ledger, the wallet, the exchange, their own computer

Many have their Bitcoin stolen, and therefore for many people they have to stop believeing that Bitcoin cannot be hacked.

For most non-technically knowledable people, the true phrasing is that Bitcoin can be hacked, and is being hacked on a daily basis.

I think there must be some risk, even though it is small, as far as I know there are two types of wallets, the first one is online, well here is clearly visible, that we use the network to get there nah network that can be called the road, hackers steal can go to to the wallet so can be labeled for online wallets less secure ,, but on the wallet ofline jg same, many people say that this is very safe, not even if the physical damage also can not be opened.

[oegarod]

Security is one of the major factor that is must with bitcoin as well other digital currencies. As it is found much more expensive than more of the other valuables, hackers truck to evade through different ways. I too encountered the hacking and lost around $1000 worth of btc from my trading account. It's our responsibility to keep it with the best security.

[freightjoe]

Security is one of the major factor that is must with bitcoin as well other digital currencies. As it is found much more expensive than more of the other valuables, hackers truck to evade through different ways. I too encountered the hacking and lost around $1000 worth of btc from my trading account. It's our responsibility to keep it with the best security.

This is why Bitcoin is dangerous. If ou have the money in the bank, security is the bank's problem. If they get robbed, you still get your money. With Bitcoin suddenly you need to take care of that security and if there is a robbery you get nothing.

[talkbitcoin]

someone being an idiot doesn't mean bitcoin can be hacked.

what you are trying so hard to justify here is like saying you left a large amount of cash on a park bench and walked away. then came back and saw it is not there anymore. then you conclude that that park is full of thieves whereas wind might have taken the money away!

if you use your brain and encrypt your wallet, use a hardware wallet, use cold storage and follow very simple security measures that a kid can understand, then there is no way in hell anyone can "hack bitcoin".
but of course if you leave your bitcoin on your unencrypted wallet on your windows desktop and then download keyloggers, you are giving your bitcoin away, you are still not getting hacked.

i also should add that there has been a lot more credit card hacks in a year than there has been in bitcoin in all its lifetime.

[bL4nkcode]

Bitcoin technology cannot be hacked I mean the whole system of it on this current time but it might be possible some days, people have to realize the difference of Bitcoin technology itself and the bitcoins that has a value of money, Bitcoin and bitcoins. People have to able to hack the Bitcoin if they can overpowered the hashing power of the current Bitcoin technology, they have to had a supercomputer to do that.

Its crazy if you're talking about hacking the Bitcoin technology itself, and of course wallets can be hacked thats why more people crying when their bitcoin wallet/s was hacked together with their money, because they use a technolgy without knowing and understanding the technology itself, they only know that there is money on Bitcoin they didnt even know how to secure it on the hand of anybody.

[hacker10]

No i dont think that Bitcoins cam be hacked because the are running by well trained and experienced professional team and they have always check and balance over there on their site and different wallet address so its not that easy to hack or destroy some one BTC

[intoy_victor]

I don't know if it could be hack but base on my research it could possibly hack. By a human who is desperate to earn more money. 

[freightjoe]

I don't know if it could be hack but base on my research it could possibly hack. By a human who is desperate to earn more money. 

And there are several billion of such desperate people in the world.....

[UCHCHILD]

I agree that bitcoin can be hack but not that easy as that, because the man that will going to hacj the account must know everything about the system and every single code that bitcoin has, which I think very hard to manipulate on, as long somebody tell their story on "manipulating" the system and tell that it is just easy as that.

[Rashid555]

If you are doing every transaction with care I think it is impossible to hacked your bitcoin easily because if you keep your privacy nobody will access you without permission and do one thing more do not open your wallet to different places over different computers. This will hack your information and later they hack all your detail and bank balance etc it is good to keep secure all your personal things like mobile and computer laptop etc.

[papa_snurf]

A quantum computer can crack ethereum and bitcoin in 1 hour. So now there are many forks that are more protected

ECC can be broken by a quantum computer. Not SHA256. So your assertion is partially false.

A quantum computer can break an address that you spent from, but not an address that you have not spent from.

[lvincent]

I don't think if you're really talking about bitcoin i think it can't be hacked bitcoin itself is a system that is every second it's encryption changes so hackers will have a really hard type decrypting that code, but wallet can be hacked and you can loss your bitcoin through some transactions if you're not careful, of course wallet also have safety precaution but if you really are not careful enough you can easily loss your bitcoin, like if you just open your wallet in any computer even in the public computer shop there's a chance that you can be hacked just always be careful to prevent this kind of things.

[Ayanamirs]

Security is one of the major factor that is must with bitcoin as well other digital currencies. As it is found much more expensive than more of the other valuables, hackers truck to evade through different ways. I too encountered the hacking and lost around $1000 worth of btc from my trading account. It's our responsibility to keep it with the best security.

This is why Bitcoin is dangerous. If ou have the money in the bank, security is the bank's problem. If they get robbed, you still get your money. With Bitcoin suddenly you need to take care of that security and if there is a robbery you get nothing.

banks is insecurity because the banks and the state can take over your money