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Author Topic: Bitcoin's strength is that nobody can crack it yet  (Read 1377 times)
figmentofmyass
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February 17, 2018, 09:20:37 PM
 #21

Bitcoin will not be banned, any country doing so would be essentially banning freedom of choice, I doubt that would sit well with the general public.

authoritarian governments don't particularly care unless they think there will be a popular uprising, which is why some of them are still banning it. the truth is that most of these governments (algeria, morocco, bolivia, kyrgyzstan, and so on) aren't in a position to effectively enforce a ban anyway. the bans are just a deterrent.

still, legislators in major countries can make things a real hassle for us. SB1241 (a bill that keeps getting revived in the US) threatens to define most custodial bitcoin businesses, payment processors and mixers as financial institutions. that will introduce huge compliance and licensing overheads, which will discourage a lot of companies from doing business with americans. the bill would also make it illegal to misrepresent your identity to financial institutions, apparently deterring us from avoiding taxes by using offshore exchanges via VPN.

major global powers keep saying that regulations are coming......i'm not looking forward to it. Undecided

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February 17, 2018, 09:43:47 PM
 #22

I think crypto is like a business because we involve some transaction of digital currency all over the world so still we need to pay government even we can say no regulator in crypto,example of it is the wallet here in our country they need license to run their business here so still they pay to run it and still paying because there's always a time limit or end in any business license,another thing no need to ban it you just click your phone then log out if you not experience good from crypto.

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February 17, 2018, 10:57:50 PM
 #23

Now it is only short part of bitcoin story told. LN and RSK will bring it on new level.

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February 18, 2018, 09:41:27 AM
 #24

I agree with the guy who started this topic. Bitcoin is really have no true competitors and real enemies. It is part of our life today and we must think about how to use blockchain and bitcoin for the purposes to improve more lives!
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February 23, 2018, 12:41:44 PM
 #25

And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.

Banning internet is useless. Bitcoin in itself is the new Internet. The ignoramus will never know that.

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February 23, 2018, 12:45:01 PM
 #26

bitcoin's strength is in a lot of things. security (in other words: "nobody can crack it") is just one of them.
the thing about banning it or not, is related to its decentralization and it is called being "permission-less" which in simple terms means nobody can tell you how to use bitcoin or where or when. you can do whatever you like with it.














 

 

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February 25, 2018, 05:37:14 PM
 #27

And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
It is not true that governments cannot ban it. It is just that any sensible government knows that is has so many advantages for the investors and will thus not do that.
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February 26, 2018, 08:35:55 PM
 #28

And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
The factors you are implying is not going to happen,so do not worry about that,but are you telling that you are living in a free world,i really differ that,you and your activities are linked for ever,do you really doubt that,you internet provider or your smart phone will give your entire details if any government wants to snoop into your activities ,so the good old free world is gone,a long time back. Tongue


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March 01, 2018, 09:37:42 PM
 #29

Yes, I agree with you. The main strength of bitcoin is that it can not be hacked..... was. The threat of quantum computers is now for bitcoin.
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March 01, 2018, 09:43:18 PM
 #30

It is up to people’s reaction to cryptocurrencies. If people keep using bitcoin and altcoins, they will be stronger. Governments have to accept them then.
right, and I think the government is not have need of banning bitcoin.
they should apply a rule to bitcoin, such as tax withdrawal from bitcoin and it will help the state income.
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March 01, 2018, 10:08:12 PM
 #31

And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.

yes, I agree with you that no one can ban bitcoin or eliminate bitcoin in the country. so far no one can kill bitcoin permanently, until now bitcoin still exists and there are still many people who use bitcoin around the world. so far bitcoin can help people who are distressed or poor people who can not afford to buy their life needs, I think this is one of the reasons the government does not want to remove bitcoin permanently because they pity to see the people who can not afford.

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March 02, 2018, 05:24:46 AM
 #32

Yes bitcoin is so strength and nobody can crack it coz the bitcoin have a strong security base on my research and the bitcoin can upgraded that program. its a good news for the bitcoin but im not sure if bitcoin can hack someone coz our peoples nowadays are learning alot of information so theres posibility that the bitcoin has been hack but i think those people who made stronger security can make a double security...  Roll Eyes


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March 02, 2018, 05:31:05 AM
 #33

I guess thats the best asset on bitcoin, no one yet are able to crack it or make duplicate on it, well for me its a good thing that no one is cracking bitcoin because if that thing happen then it will be the end of bitcoin, because keeping bitcoin in that era will just be a waste of time if someone can make alot of it by just hacking it or duplicating its amount.

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March 14, 2018, 01:24:58 PM
 #34

Yes and also the fact that people believe in it and invest in it so much. Bitcoin is a good investment which the only way you lose your coins is if you do not properly secure it. I know it's the best thing I've ever put my money on
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March 18, 2018, 12:33:49 PM
 #35

Yes, it's all because of the blockchain technology, which is embedded in it. It's just impossible to hack it at this time, that's why it's popular in the world.
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March 18, 2018, 12:37:54 PM
 #36

the weakest link in the whole cryptocurrency space is the normal user, your wallet and private key are not safe so if a whale get's hacked the whole market can be messed up.

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March 18, 2018, 12:38:04 PM
 #37

And it will remain so for a long time.
No government, no parties can effectively ban it and put their hand on it. They would have to ban internet first. Not likely.
That would be the end of free world we know.
yeah thats right its too hard to crack or destroy bitcoin unless other countries ban bitcoin in their places so its so other people who lives in banned country cant use bitcoin anymore

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March 19, 2018, 10:12:14 AM
 #38

Bitcoini bans are a very difficult situation, but they are easier to legislate by countries, but a few countries seem to prefer to ban Bitcoini as a game of cheating, but that is not the case, I think these countries will understand them for a short time.
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March 19, 2018, 10:40:25 AM
 #39

Yes you're right and there's no way to crack it. Even if bans are placed, it's not like you can ban the internet and prevent everyone from using it. Government are chasing their tails with this.
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March 19, 2018, 12:52:59 PM
 #40

Bitcoin is strong as a technology but it has grown so big that at this point, Bitcoin is the only thing that could destroy itself. We don't have quantum computers at this point but whenever it will be there in the market, I am sure, we will be using it to enhance the network security and efficiency. There is no way to crack / brute force Bitcoin network to pull private keys.

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