Is Bitcoin as safe as its believers say?

[goldade]

I absolutely believe bitcoin is safe depending on the user. The level of security a bitcoin wallet has is dependent on how security conscious the user is.
If a user becomes so careless as to lose his private keys to scammers, it isn't bitcoin's fault, neither is it anybody's.
This is exactly why private keys and seed phrases are absolutely important and are meant to be kept safe. Once they are lost, a user runs the risk of losing all his funds to a scanner who are so many these looking for ignorant victims to scam.

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[FinneysTrueVision]

The DOJ is intentionally being misleading and vague. We don't know how they recovered this BTC. Some speculate that they only got the password to a Coinbase account for one of their associates. If they had actually broken Bitcoin's cryptography then obviously they would've taken the hackers' entire Bitcoin stash but they only recovered a partial amount.

[ropyu1978]

bitcoin will be safe if you store it safely, and do not take illegal methods, because bitcoin will be safe depending on the owner how to store it, because if you are good at storing it you can say it is safe.

[Darker45]

Does the U.S. Department of Justice's recovery of the Bitcoin ransom mean that Bitcoin and even blockchain security have fallen off the altar?

Nope. The US Department of Justice successfully recovering the Bitcoin ransom means centralized exchanges are under the power of government authorities. Or perhaps you might want to take it a notch higher and say that centralized exchanges cannot be trusted, because anytime the government could say, "Hey, that's exactly the Bitcoin we're looking for. Give it us!" And they would fully comply. Remember there's a license to be revoked, CEO to be arrested and even imprisoned, books to be audited, and so on. They simply cannot say no.

[AniviaBtc]

How do you define "safe" in this case? Bitcoin protocol and cryptography used are secure. If someone managed to get someone's else private key, most likely it's because the owner doesn't secure their device properly.

If you don't have any idea about how bitcoin works then you will say that bitcoin is really easy to access by other people.

Like what most of the people said, that will not happen if they don't have the private key of the owner in the transaction.

Maybe they got its private key that's why they have an access in its coins. Sometimes it is easy to conclude without even knowing the real story.

[ethereumhunter]

Bitcoin is safe for me because I know what I am going to do with my bitcoin. I can keep my bitcoin in a safe place that only I will know. I can convert bitcoin to fiat money and transfer it into my bank account.

I do not know what the other government will do with bitcoin, but so far, I can use bitcoin without a problem. Maybe each country will have different regulations about bitcoin.

[Obito]

Definitely, the only reason it gets compromised is because the people that are hodling them are really lousy with their security and they are not cautious when clicking links online that could lead to malwares.

[maxreish]

People are just over reacting about the issue. Its still vague and still no recent explanation about FBI actions. And they have protocols to be followed. Its indeed reasonable to act that way like cracking their server. Afterall, they are just getting that from the hackers.

Safe? Its all about tight security system or where to put that private key not to be seen if someone try to crack over your files ot server.

[Lorence.xD]

I do think it's safe and the believers are right, and they aren't just any believers that doesn't know a shit, they are developers and programmers that have tried to break bitcoin but they didn't find any weakness in it so I guess I will probably take their word more than your stupid claims.

[Maslate]

People are just over reacting about the issue. Its still vague and still no recent explanation about FBI actions. And they have protocols to be followed. Its indeed reasonable to act that way like cracking their server. Afterall, they are just getting that from the hackers.

They will just take action once there is a report, that was their job. What they have done was to believe to have a reason and if that has proven that it runs illegally, their Bitcoin must be confiscated otherwise, it will still use for illegal activities again.

Safe? Its all about tight security system or where to put that private key not to be seen if someone try to crack over your files ot server.

It guaranteed safe if we know how to manage our keys/password. It is to find risk saving our keys in our laptop/PC especially when we are not the one who uses it coz that will be one factor that hackers could track our key/passwords.

[angrynerd88]

BTC is now a subject and need concentration to understand it.Everyone has own perspective about Bitcoin,Some take it as an asset and some as medium of exchange and some as a tender but i think its all about in BTC.Btc give protection not at all like fiat that requires kyc but still individuals do not get frightened of utilizing fiat, at that point why would you think btc isn't secure.Main reason of BTC is to believe blindly is that BTC is decentralized.

[Shenzou]

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

[Kasabus]

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

Everyone has kept an eye on bitcoin so bitcoin user should always be extra careful in doing all his transactions and should always secure his private keys all the time.

The government has always bad to say when it comes to bitcoin and this is the reason why they are not yet legalizing and adopt bitcoin as a currency. Bitcoin will always be safe unless someone manage to steal from it from the owner and used as a means for illegal things.

[Distinctin]

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

It is a sort of evidence and the authorities will have to take it and brings it to court. This could be the worse scenario as everything that you have will be confiscated even it was no used for illegal activities. Anyway, we really don't know what is the problem with that person. We never know why the government sued him and get the hard drive.

But this is not the way we think that Bitcoin is not safe, it was just the person who holds has done something not acceptable to the government or he violated the law.

[LUCKMCFLY]

I think it is a very elegant way of doing FUD, but above all this FUD there are also investors who come out to make statements, who even regret not having bought much cheaper, in this case we have the example of Marc Lasry, co-founder and director Executive of Avenue Capital Group, in which in 2018 he did not invest as much as he wanted and now he regrets:

In a Tuesday interview with CNBC’s Squawk Box, Lasry said that while the price of Bitcoin (BTC) could go anywhere from $20,000 to $100,000, the market has been established, implying it is unlikely to go to zero. The billionaire commented that his 2018 prediction that BTC would reach $40,000 was based on institutional investors driving interest.

“Once a market is created, it’s there,” said Lasry. "The probability as more and more people keep using Bitcoin, it’s going to keep moving up. It's happened a little bit quicker than I thought it would.”

He added:

“I should have bought a lot more — that was my mistake.”

Source: https://cointelegraph.com/news/i-should-have-bought-a-lot-more-laments-billionaire-investor-on-bitcoin

Now the US if you try to do more FUD I think this will get interesting, because the believers, whales and Btc defenders could get into action.

[Shasha80]

Definitely, the only reason it gets compromised is because the people that are hodling them are really lousy with their security and they are not cautious when clicking links online that could lead to malwares.

As long as we don't have the knowledge about how to use Bitcoin properly, then there will always be opinions that Bitcoin is not safe to use.
As you said very many people especially newbie, not be careful when doing online activities. Such as the intention to click on the link is not careful,
which eventually leads to malware. Before we want to access the address of the exchange or wallet site to be able to make Bitcoin transactions,
make sure the link we are going to click is correct. We have to be careful in this online world, where many scammers and hackers are roaming around.

[Hamphser]

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

Should really be verified first before making any sentiments which arent actually true because this would really result into a FUD but the truth is when you do know on what the actual thing happened then you would find out that this doesnt talk particularly about bruteforcing a certain address.

It is just the keys had been retrieved out no matter what kind of hacking or methods that they do used.It is just people do make out some false news
for public to believe on that it did really happen.

There's no way you can retrieve out coins as long those keys are kept out of sight on others peoples awareness.

[Prettyjing34]

Yes, the security of Bitcoin is well known. It has its own anonymity and protects the transactions made by users. His strong technical support gives him his own reserve force, which almost no one can tamper with.

[cabron]

FBI cracking FUD was already debunked which the FBI actually asked the court to access the file server of the exchange to access the hacker's BTC. It's over no one can crack BTC, they would have to crack every single machine connected to its blockchain before they could which is close to impossible. The believer says YES. They may try ETH or other crypto but not BTC.

If they could really do it, they should first try the wallets that have a bigger amount of BTC than the hackers that only have 65+ BTC.

[oemar bakrie]

from the current phenomenon because bitcoin has matched real money we use for payments or transactions for purchases, therefore automatically security is more sophisticated, but it's not as safe as cash that we use everyday..