Do you believe BTC can be attacked?

[kenskie]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

[Beparanf]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

Poly network is using smart contract and they have some vulnerability on there code that's why it was hacked. Bitcoin is running for more than a years and the code is design without any centralization to control it. Meaning you can't change the code unless the majority of miners vote for it unlike poly network which the developer alone decides on the code of smart contract. The only attacked possible for BTC is to flood the mempool by spam transaction so that it's network will slow down and cause panic to all users. But hack like happening on other blockchain with smart contract is not possible.

[BlackHatCoiner]

There's lots of speculation in other projects such as POLY. Someone found a bug and decided to get advantage of it. The problem lies on the attention that is given to it as a speculative tool, before it is even fully tested.

Bitcoin had never experienced such scenario in the past, but the Poly network and Bitcoin are incomparable. For example, Bitcoin's whitepaper is 9 pages long. Poly's on the other hand is 41. This will discourage someone from occupying themselves with it technically. They also supposedly solve different problems.

The causes of bugs are due to the ignorance of the developers and to the lack of new interested parties willing to review the code. So I'd say that Bitcoin is far more secure in terms of backdoors.

[Sterbens]

We have an extraordinary uniqueness in Bitcoin, and to date nothing has been so threatening to the security of Bitcoin as to actually wreak havoc with a breach. Poly is clearly very different, in terms of advantages and also the credibility of the contract makes Bitcoin much more difficult to penetrate. After all, behind the resilience of Bitcoin there is a protective force that until now has really kept Bitcoin from being attacked.

[7788bitcoin]

I just remembered the poly network heist, one of the biggest heist in the history.

If the code was vulnerable you would have heard about Bitcoin getting breached and we never heard about that and will never hear about that, it is the most secure system out there and there is no way anyone could hack the system. You loose the coins only when you are not careful about storing your coins and when you are investing in cryptocurrency you need to learn the basic of holding the coins and how to secure your system and if you can do that everything is safe.

[dkbit98]

Bitcoin is attacked all the time by regulators, bankers, IMF and anyone who is controlling dollar and other fiat currencies, but you can't compare worthless centralized altcoin like poly with Bitcoin proof-of-work.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.

No. You can't really hack bitcoin network that is most secure network of computers in the whole world, and only thing someone can do is to try and manipulate prices with news and regulations.
Every cryptocurrency is following Bitcoin just like all other fiat currencies are following dollar, and price change has nothing to do with any hacks, but you are welcome to try and hack it if you can.
Small bugs in code are always possible, but there are many eyes on Bitcoin code to fix this.

[Smartvirus]

There is no cryptocurrency that is above being attacked, bitcoin included. The kind of attack on any network Nd it being successful is where underlying difference could be found. Bitcoin is far above such silly hacks as it was done on the Poly network. Bitcoin has been in existence for 11years+ now and still no bug has been found, that's not to say it haven't been tried unsuccessfully else, we could have heard of it.
The event of an attack could have only come from a 51% attack but, that too is only half what is need for a successful attack and in the real sense, its actually not some hack attempts but, a mining an acquisition of mining rights for confirmation of transactions.

Bitcoi is as safe as its always been and there is nothing that could go wrong. The only attacks on bitcoin  remains about the FUD and FOMO spread around which depends largely on individual perception.

[bitmover]

Bitcoin is attacked all the time by regulators, bankers, IMF and anyone who is controlling dollar and other fiat currencies, but you can't compare worthless centralized altcoin like poly with Bitcoin proof-of-work.

Let's not forget attacks from other cryptocurrencies.
I remember in 2017 when BCH forked from Bitcoin,  it was literally an attack.

They used bitcoin name and also said that bch was the "real" bitcoin, the Satoshi vision and all those lies and misinformation.

Bitcoin price dropped a lot in that period, and they altered able to push bch to 0.5 btc. Thankfully bch is now an irrelevant shitcoin that no one cares about.

[dkbit98]

Let's not forget attacks from other cryptocurrencies.
I remember in 2017 when BCH forked from Bitcoin,  it was literally an attack.

Yeah, that was the insider attack coming from Roger Ver with some Chinese mining pools and funny thing is that later he joined forces even with Faketoshi Craig Wright and that clown Calvin Ayer, that was really pathetic.

There is always a risk of new forks happening in Bitcoin but that is not always a bad thing, some people just think they can do something better and in open source space that is always a possibility.

Other possible attack that would come from inside would be with some malicious developers adding bad code in Bitcoin, but that would be cross examined and probably rejected by many other developers.

[avikz]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

Yes! Bitcoin can very well be attacked by the hackers but they need quantum computers to hack into the SHA256 protocol. Which looks reallu unlikely to happen.

I would request you to read the below article as it talks about all types of potential risks of bitcoin.

https://river.com/learn/can-bitcoin-be-hacked/

Great and informative article which should answer your questions.

[ranochigo]

Yes. There were vulnerabilities which could've otherwise affected Bitcoin negatively, for eg. the inflation bug back in 2010 which was fixed in a fork. If it were to happen in this climate today, then we would see very different responses.

There are several possible theorized attacks, 51% attack being one of them and the counter being the effort and the resources needed for it. Other than that, you might have a few zero day exploits here and there but it would be quite rare for it to threaten Bitcoin, likely only the individual clients or nodes.

[Ekeleboy]

I don't think so.
It's decentralized.
And the only means by which that can happen is even a higher impossibility.

[maju69]

Everything is possible, because no network is 100%. But we still believe Bitcoin has never been attacked as badly as Poli. I hope hackers stay away from Bitcoin, the security of a system that is said to be strong even for hackers always has 1000 ways to break into it. Believe it or not, the Bitcoin network is already established and their system is amazing enough to protect against multiple attacks.

[The Cryptovator]

Do you know why still Bitcoin is the most popular cryptocurrency even it's taking longer transaction time and higher fees? Because of security. Bitcoin networks are quite stronger than any other cryptocurrency. Lots of cryptocurrencies have been created with faster transaction speed and lower transaction fees, but due to lack of strong security, still they are the back of Bitcoin. I don't think we should compare Bitcoin networks security with other tokens or coins.

OP should read this article to know more about Bitcoin security, Can Bitcoin Be Hacked? 

[hatshepsut93]

Shitcoins get attacked all the time for many reasons that don't apply to Bitcoin. They have very low PoW, they have poorly written and poorly tested code, they have complex design that creates a huge surface for bugs, while Bitcoin intentionally limited what you can do in transaction.

Bitcoin had bugs in the past, some of which were extremely severe, but luckily they were never abused on a large scale because they got patched very quickly.

[Ryker1]

Well, bitcoin has a strong protocol that could be possible it is hard to attack. There are too many speculations on it about attackers by so far by now there is not really happen. The attack could have been done in manipulating bitcoin and putting regulation on it but when we talk technically, there's no attack that could be found. Perhaps, there could be more attempts on attacking the network on bitcoin to exploit before but sad to say, no one has successfully done it, it is decentralized .

[carlfebz2]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

It lasted for a decade and look at on its current state on where its been sitting? For sure lots have tried on making out some exploit in terms of security and similar aspects but still they do failed up to do so

which its no surprising that the entire community would really be having that kind of trust and the current ranking and adoption is the proof that Bitcoin is still much preferable on this market.

I do only believe on a attacks when Quantum technology is here but for now it would be still considered to be strong in terms of security and exploits.

[btc_angela]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

You mean blockchain? Or 51% attack? it's possible but not logical.

For a 51% to be successful, the entity would need more hash power than the entire bitcoin mining combined globally. So it will cost a lot of money, more than what he will profit if ever he decided to run a 51% attack.

And if ever he pull this on off, it will be noticeable for other miners, and they know what is happening, so eventually they will have to pull the plug or switch to different pools.

So I would say that bitcoin network is secure as compare to those alt coin network.

[wxa7115]

I just remembered the poly network heist, one of the biggest heist in the history.

Is there also a possibility BTC can be hacked?
If it is, I bet every currency will start to declined.
How safety BTC security for you?

Want to know veterans answers.  

What makes you think that bitcoin has not being attacked all this time? It is obvious that governments do not like bitcoin, if there was such a catastrophic flaw as the ones found in those smart contracts then you can be completely sure that bitcoin would have been destroyed already.

The fact that bitcoin is still here despite the opposition from governments and banks speak volumes about the security of bitcoin, so if I were you I would not be worried about this possibility at all.

[pooya87]

What people usually forget in comparisons like the one OP made is that they forget that there is a huge difference between an invention made by a competent developer and reviewed by lots of other experts and cryptographers AND a quickly put together project built on a hype to get people to "invest" in it and make profit.
The former will always be a much stronger result that has withstood millions of hackers and attackers (state owned or individuals) and has been running for 12 years and the later is one in a tens of thousands of weak projects that get pumped for a little while and eventually disappear in a couple of years and obviously can't even handle a small attack.