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Author Topic: What stops Bitcoin from being hacked?  (Read 216 times)
HeRetiK
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June 14, 2021, 07:56:27 AM
 #21

Suffice to say, the thread is becoming filled with more misinformation and some of them don't understand what they're talking about. OP, you'll be better off trying to search about the forum than to continue in this thread.

Yep. OP, the posts by hosseinimr93 and ranochigo are pretty much on point and should explain why hacking the entirety of the Bitcoin network in its current state is practically impossible. At least from a high level perspective without getting too much into detail. I'm afraid most of the other posts you can safely ignore.

Keep in mind that in a way you can look at the Bitcoin network as holding the worlds largest bug bounty. If there is one system worth attacking, hacking and breaking, then it's Bitcoin. That no one succeeded even more than a decade after its inception tells a lot about the network's level of security.

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June 17, 2021, 09:08:37 AM
 #22

couldn’t a government pull this off?

No, government can not. If it could, the various governments of the world that hates Bitcoin would have pulled it down long time ago. The worse any government can do is to ban companies, exchanges and activities of people mining Bitcoin in that country. Government can not even prevent its citizens from trading in Bitcoin, even if trading Bitcoin becomes outlawed. There are people who still trade Bitcoin in China. When Nigeria banned Bitcoin, Nigerians still traded Bitcoin through p2p. Bitcoin is untouchable.
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June 17, 2021, 09:31:31 AM
 #23

Hey, I am trying to determine how safe the Bitcoin network is. Is it possible for a person/government to spread a virus targeting all Bitcoin nodes, then be able to manipulate  the network?

Although this would be difficult, couldn’t a government pull this off?
The government who fears Bitcoin is because the main reason is they cannot have control over this decentalized network of blockchain.There is no single point of control or sever room which can be shut down.There are thousands of Bitcoin node running to secure the network and government can't spread virus to each of them.The records cannot be altered in blocks as for reversing the transactions or making any changes would not require much computing power that it is not advisable.The government cannot shut down the internet so is the case with Bitcoin they can put ban on its usage in their country nothing else which is also against their revenue receipts.So in total you can say no Bitcoin cannot be controlled or shut down by government.The only possible scenario is of 51% attack which will require control over 51% of the total network which is somehow not possible and very much costly.

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June 17, 2021, 09:36:33 AM
 #24

Bitcoin is not under the control of anyone that is what stops anyone from hacking it, bitcoin nodes are everywhere and the only practical way to stop bitcoin is to stop the internet all around the world which is also impossible though so it means bitcoin can't be hacked but the price can be highly manipulated by the people who got influence and money.
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June 17, 2021, 05:25:17 PM
 #25

When people say that their online accounts are "hacked", often what happens is that their email accounts are hacked, due to weak security. So for that we don't give our accounts to others because this is very dangerous for the security of the account.
even for those closest to
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June 17, 2021, 06:42:30 PM
 #26

Hey, I am trying to determine how safe the Bitcoin network is. Is it possible for a person/government to spread a virus targeting all Bitcoin nodes, then be able to manipulate  the network?

Although this would be difficult, couldn’t a government pull this off?

I still don't believe there is a way to brute forcing a wallet or just forcibly hacking a wallet. there must be a simple mistake by the owner of the wallet address and thats the way hackers get access of people personal data including address wallet. using the safety hardware the only option to avoid it any type of hacking.

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