Cyber attacks are good for Bitcoin

[PsylockReborn]

This incident will make them adapt to a more secure system like the blockchain technology.
Blockchain in the coming years wil revolutionize business sectors specially when it comes to
their security and accuracy of information.

Sooner or later all of the big companies will be using blockchain to eliminate the risks that a
centralized system has been daunting everyone.

[RokokGudangGaram]

It doesn't seem that easy to make them realize that the benefits of blockchain technology are very high, but with the time in the future, the big companies will not realize that they have used blockchain technology even though they refused. Technological developments forced them to use this technology to maintain competition

because blockchain technology is a technology that has many benefits, because with blockchain technology we can all make transactions easier and faster, because this technology is transparent

[Pursuer]

not at all because if you think about "cyber attacks" and things like that bitcoin is also susceptible to them when the normal people use it. the way it is attacked is different but there are still ways to "hack people". for example their wallets, spreading malware instead of wallets so that newbies install them instead and lose their money and many similar ways. so you can't say it is 100% safe and will solve the problems.

[jseverson]

Cyber attacks aren't good for anyone. This doesn't prove that Bitcoin is better than legacy payment options either, because you're going to have to give your info either way especially if you're paying for flights. Heck, I could even go a step further and say that using Bitcoin can be more dangerous in a situation like this, because a criminal can potentially assemble a victim's financial profile through blockchain analysis.

This isn't a failure for traditional finance, it's failure for data safekeeping. If nothing else, incidents like this highlight the need to be wary of sharing personal information. Bitcoin can't help you if your data is already out there.

[Screamshot]

There is no perfect establishement even cryptocurrency is not free from the attacks of hackers and fraudster. We a bit happy at any one's down turns rather we can only give the advantages cryptocurrency has over other means of transcations

[bolbau]

cyberattack is not good for bitcoin especially for large exchangers because this is very dangerous, many assets can be lost and reduce trust in the exchanger. but if you say that cases of attacks on conventional systems have a positive impact on the existence of bitcoin I strongly agree. the public will begin to realize that the blockchain technology owned by bitcoin is safe and can be an alternative to investing or simply storing digital assets.

[KryptoKai]

Bitcoin isn't immune to cyber attacks either, mt gox is a prime example along with the many other exchanges that have been hacked. It's only good for those that know how to secure it in cold storage wallets

[biskitop]

yes, someone will start to look at using blockchain technology that allows peer to peer transactions and without third parties that allow safer and minimize fraud and also cyber attacks.

[CoinEraser]

Cyber attacks are never good, neither for Bitcoin nor for others. Only the attackers benefit from it and others take harm. Even the crypto system suffers from cyper attacks and hacks on exchanges or normal people with crypto currencys. So far no system is really 100% secure and almost everything can be hacked. Without hacks and attacks crypto would certainly be further than now, but many people have lost their crypto currencys and therefore left the crypto space. Therefore you should never find it good if a system is hacked or attacked, because the hackers can learn more and more and maybe do more damage. Unfortunately, every one of us can be the next victim.  

[Cacingkemi]

This is good for the blockchain system and certainly in the future it will be implemented by several companies and certainly very good for BTC as their money storage but cyber attacks are very bad.

Every system has vulnerabilities and can be exploited at some point or another.
There has been repeated issues of exchange hacks with people losing millions of dollars worth of cryptocurrency.
While these hacks are most times not directly linked to the blockchain technology it would still be related to vulnerabilities of bitcoin

What are you talking about? Did you see the article that the data airlines were attacked by cyber,BTC is not vulnerable to cyber attacks it's safe and you can see the conversation in this thread.

[Script3d]

Cyber attacks are never good, neither for Bitcoin nor for others. Only the attackers benefit from it and others take harm. Even the crypto system suffers from cyper attacks and hacks on exchanges or normal people with crypto currencys. So far no system is really 100% secure and almost everything can be hacked. Without hacks and attacks crypto would certainly be further than now, but many people have lost their crypto currencys and therefore left the crypto space. Therefore you should never find it good if a system is hacked or attacked, because the hackers can learn more and more and maybe do more damage. Unfortunately, every one of us can be the next victim.  

the thing is bitcoin doesn't store any information about the user unlike others it will just show transaction history and what will they do with the transaction history how will the hackers use the information they have sure you can steal those coins if you have the private key but not the information of the user unlike credit card that have can be stolen and hackers will use your information to some shady stuff, coins is the only thing that is stolen its a huge deal to some people but it's better than having your money stolen + your identity, nah hackers can only bruteforce private key and do a 51% hash rate attack and reverse transaction which clearly wont happen.

[Juggy777]

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/

Ryan Wilk, vice president at NuData Security said “Data in the wrong hands – especially payment card information – can have a huge impact on customers, far beyond the unauthorised use of their cards.”

“Payment card information, combined with other user data from other breaches and social media, builds a complete profile. In the hands of fraudsters and criminal organisations, these valuable identity sets are usually sold to other cybercriminals and used for myriad criminal activities.”

Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

I personally feel such incidents won't act as an catalyst directly, but indirectly the companies will look at alternate payments system as such hackings are bound to create fear in the minds of their investors. It'll be interesting to see if any major company decides to implement blockchain and crypto payments, but any global company that adopts it will face regulatory backlash.

[Kakmakr]

One of the reason I started to use Bitcoin was because I lost money on fraudulent transactions that was done, when my credit card was used illegally for online purchases. I looked for an alternative payment option that was not storing my payment information and this brought me to Bitcoin.

This is one of the strongest reasons why Bitcoin is much better than credit cards for online payments. Nobody store any payment details in some exploitable database that can be hacked.   

[pixie85]

Bitcoin isn't immune to cyber attacks either, mt gox is a prime example along with the many other exchanges that have been hacked. It's only good for those that know how to secure it in cold storage wallets

Gox could have recovered but it suffered from a mix of cyber attacks and mismanagement.

Attacks are always good because they're not allowing you to take your guard down and they're constantly testing your security. White hat hacking is a prime example of such testing. A business can survive hacks as long as they don't do too much damage.

[Nasonn]

That's the benefit of blockchain, it's immutability to hack but that's not to say that blockchain doesn't have its flaws since once information is stored on it it becomes impossible to remove it.

[batang_bitcoin]

Sorry but cyber attacks are no good, it is giving harm and problem not only to the company that was attacked but to the people who has been affected by it. But at least this will open their minds that they have to increase and strengthen their security and blockchain would be the best contender if they have to upgrade. And not only blockchain but also bitcoin would get their sentiment, no credit card information to hack and will be stolen if they apply it.

[tegarp90]

The personal data of 9.4m Cathay Pacific passengers has been stolen in a cyber attack on the Hong Kong airline.

https://www.telegraph.co.uk/technology/2018/10/24/cathay-pacific-says-data-94-million-passengers-stolen-hack/

Ryan Wilk, vice president at NuData Security said “Data in the wrong hands – especially payment card information – can have a huge impact on customers, far beyond the unauthorised use of their cards.”

“Payment card information, combined with other user data from other breaches and social media, builds a complete profile. In the hands of fraudsters and criminal organisations, these valuable identity sets are usually sold to other cybercriminals and used for myriad criminal activities.”

Maybe instances such as this will wake people up to the tangible benefits of using Bitcoin, blockchain and cryptocurrency-not being as vulnerable in an age of unbeknownst vulnerability.

There are cyber attacks every seconds in this world.
This is also why investors are afraid invest in bitcoin because it's in the internet. Everything in the internet are not safe.

[josephdd1]

Perhaps, it may be good as it may be seen as a good incentive to invest more in security around cyber attacks but its definitely damaging the crypto.

[sublime5447]

Common people will definitely use blockchain and cryptocurrency later but only a few of them are aware of it because there is no benefit they will get from knowing this, what they want is every of their business can run according to their will whatever happens in the back.

[proTECH77]

Most of these happening will draw the attention of these companies to adopt the power of the blockchain technology to build a solidify platform that will not be vulnerable to hackers. Though this might not be another way for these companies to accept the use of bitcoin rather the technology that's involve, this will give another shift/lift in the acceptance and adoptance of bitcoin.