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Author Topic: Bitcoin can be hacked?  (Read 2437 times)
talkbitcoin
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November 28, 2017, 10:50:33 AM
 #21

the level of cryptography used in bitcoin is good enough that will make it unhackable for many years. things such as Eliptic Curve cryptography that it is using and also hashing the private keys using SHA256 gives it the security that it needs.

can these be broken? yes but that doesn't mean it will happen. these are not simple stuff created yesterday. it has been years and they are being used elsewhere too.














 

 

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November 28, 2017, 10:55:23 AM
 #22

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad

There is a huge possibility that bitcoin can be hacked but that depends on how you take care your bitcoin wallet.

Hackers are very tricky in hacking, they can do a lot of things that will give them a way to access your internet or your PC and get some important things, files, passwords or documents that can be sold or valuable to the owner. And I think bitcoin wallet is really hard to hack unless you are not taking care of your wallet and not hiding your private key properly.
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November 28, 2017, 11:04:32 AM
 #23

I think, there is the possibility of bitcoin can be hacked, because each transaction data will be calculated with a special algorithm and mathematics follow the previous transaction data. So all Bitcoin transactions, will never be interconnected with each other.
but,my knowledge that bitcoin can be hacked due to a minimal email account security.
because I think all accounts and wallet are related to email.
so it's important to secure your email account.

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November 28, 2017, 11:24:43 AM
 #24

Wallets can be hacked by human errors, in Bitcoin you're the one that is responsible for the security of your funds, not a third-party like when you have a bank account. When you want to hold Bitcoins you need to make sure you create your wallet on a computer that isn't infected, you also have to verify that the client is safe and authentic. The level of security your wallet has is linked to the time you have to spent on setting it up, for example setting up a wallet on blockchain.info is much less time-consuming than an Armory wallet that you want to use offline. But Bitcoin is quite immune for most attacks, the only possible danger that could really hurt the whole ledger is if the SHA-256 algorithm would become broken. However I think it will not come that far as Bitcoin can upgrade it's algorithm when it is needed. Then you have the 51% hash power attack but this won't hurt the whole network, just the people that the attacker deals with. In this case the attacker would be able to reverse transactions he did. But the chances of someone getting such an insane amount of hashpower is really low.

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November 28, 2017, 01:58:46 PM
 #25

According to me hacking of bitcoin is almost impossible....and the amount the hacker wud spend to hack bitcoins wud be much more than the actual price of btc....
Bitcoin is one of the most secured cryptocurrency atm...so hacking not possible Smiley

It is true. let alone a decentralized bitcoin system with a p2p system is almost impossible to hack because the hacker must be able to break into all computers / gadgets around the world.
the most common case is a wallet hack so the wallet owner loses the digital coin in it. so, not from a system error in bitcoin, but the fault of the wallet owner.

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November 28, 2017, 05:46:13 PM
 #26

I think hacker will face to difficulties when they try to hack bitcoin from someone. Bitcoin wallets has many ways to protect user like private key, 2 step securities,..etc.. So if you careful in protect your bitcoin, hacker won't able to hack your bitcoin. Many people using and saving bitcoin and i do not know any body has lost thier bitcoin by hacker so dont worry about that problem.
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November 28, 2017, 05:58:39 PM
 #27

I think hacker will face to difficulties when they try to hack bitcoin from someone. Bitcoin wallets has many ways to protect user like private key, 2 step securities,..etc.. So if you careful in protect your bitcoin, hacker won't able to hack your bitcoin. Many people using and saving bitcoin and i do not know any body has lost thier bitcoin by hacker so dont worry about that problem.



Bitcoin can be hacked but wallets do are the software  using where you store your bitcoin but according to the blog that I have read states there that so all bitcoin transaction will never be interconnected will never each them ,so it's important to secure them emai as account.

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November 28, 2017, 06:03:03 PM
 #28

Its very hard to hack the bitcoin network and it would require a super computer power to do so. But it is possible to hack the wallets which holds the bitcoins, it is necessary for the wallet holders to implement all the required security measurements to protect the wallet.
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November 28, 2017, 06:08:06 PM
 #29

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad

Bitcoin has been around for about 9 years so I think it has been vetted enough that we can feel pretty confident that there is no problem with the code. We are probably also beyond the risk of a 51% attack where someone can control Bitcoin if they have more that half of the coins.

The biggest risks are government regulations, exchanges getting hacked, or a crash in the price. All those things can happen at some point in the future.

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November 28, 2017, 06:14:48 PM
 #30

Quantum computers could possibly hack Bitcoin Network by the year 2027/2028.  Until this time Bitcoin can fork into quantum resistance cryptography standard, and there is one proposal already now called qBitcoin. Another idea is to migrate from Bitcoin protocol to a post-quantum signature scheme. So we don't need to worry, there will be the solution for that before that time.
A mystery is why Bitcoin uses secp256k1 instead secp256r1 that is used in many other applications.
qBitcoin https://spectrum.ieee.org/tech-talk/computing/networks/qbitcoin-making-bitcoin-quantumcomputer-proof
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November 28, 2017, 06:14:52 PM
 #31

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad

According to me, it's very difficult to hack bitcoin because I've never heard news about bitcoin hacking since it came into existence. Bitcoin team is concerned about it's security very much. It's security algorithm is so strong and BTC team would have developed security scheme in order to keep it's users safe from any cyber crime.
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November 29, 2017, 05:17:25 PM
 #32

Bitcoin provides all day or 24/7 security to secured your account free from hackers. The coordination between the government and company and management will do immediate action for the illegal acts, once it happen. It’s the obligation of the company and the management, as well as the government to secure our investment and entire world free from scammers. It’s also your duty to be carefully enough in every action you made.




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December 04, 2017, 02:24:11 PM
 #33

everything can be hacked but the possibilities of hacking bitcoin is very less beacause of its value .

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December 04, 2017, 02:35:34 PM
 #34

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad
Bitcoin is the more secured cryptocurrency no one should hack e-money. Because it is automatically moved in your wallet. But you have two types of security in wallet. One is password and other is private key you think some one is hack your e-money so difficult and not possible anyway. Because private key is not easily find anyone.

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December 04, 2017, 02:36:50 PM
 #35

So far i am updated to some case of hacking bitcoin it self is so secure and for now it is impossible to hack but maybe in the future some people will find out how to breach to the system. But in many cases of hacking of bitcoin the main reason is the users who did not use safety measures and become careless in doing transaction or in storing their bitcoin.

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December 04, 2017, 02:41:54 PM
 #36

The future is almost here once https://youtu.be/LaLzshIosDk
We are just a few steps away from breaking through to a would with flawless security.
 a world that the strongest AI cant hack Quantum entanglement
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December 04, 2017, 02:44:38 PM
 #37

Bitcoin is safe as long as SHA-256 is not hacked. If, in theory, somebody figures out quick reverse function of SHA-256 (not by brute force), the bitcoin could have big troubles.

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December 04, 2017, 02:44:42 PM
 #38

For me bitcoin is not to be hacked because the website is very secure and definitely no hacker can enter. But it's possible to hack the wallets where they hold bitcoins but bitcointalk.org can not be hacked because bitcoin is the most secure at all. and of course the bitcoin can not be hacked because Bitcoin provides all day or 24/7 security and many are get angry and lose money when it is hacked.
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December 04, 2017, 02:46:19 PM
 #39

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad
Wallets can be hacked but bitcoin itself can't. If you are trying to have an access to your wallet you must be careful of the website you are visiting. Popular exchanges and web wallets are targeted by phishers and they are making an exact look a like of these wallets where those people who are ignorant about it will just put their information and later on will be phished. That's how they are hacking so remember that and keep safe, bookmark those important exchanges that you are using.

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December 04, 2017, 02:46:25 PM
 #40

actually i want to know there is a possibility have to hack this supper e-money, because somebody hack it will be a huge effect for the economy.
pls give your valuable opinion. Sad Sad Sad Sad Sad Sad

Addresses and theyr respective private keys may be compromised
as the quantum computers advance in terms of technlogy, we should expect something to happen
before 2030, but is an unknown matter at this current time.

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