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Author Topic: Do you believe BTC can be attacked?  (Read 816 times)
Rehan Zakir
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October 20, 2021, 01:21:00 PM
 #81

Miner of bitcoin supports their network from attackers. And there are millions of miners that are continuously mining bitcoin currency. And that's make the network secure. Miner's got their mining reward when every block mine. So, it is not easy to attack on bitcoin. And i think it is not possible to hack bitcoin network. Because it is a huge  network of computers that are working together.

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October 20, 2021, 01:45:50 PM
 #82

If we talk about bitcoin vulnirability or the network itself well we can say that this is not possible to happen, but with those unsecured or web wallets existing well provably they can find a exploit to hack those platform and stole bitcoin stored by many users there, that's why its good to use a hardware wallet to avoid any danger made by the act of hackers or any attempt of stealing your funds. I don't know much about poly network but I heard about that rumors to them but hopefully those are rumors only.

Bitcoin is virtually impenetrable. The real issue lies on software wallets themselves. It's easy enough to steal Bitcoin from other people through a vulnerable software wallet than the network itself. That's where hardware wallets come in. But even with a hardware wallet, you could risk losing your Bitcoin if you're careless. It's all a matter of following the necessary security precautions, in order to stay safe against external attacks. I wouldn't worry about Bitcoin being "attacked" as long as there's a large hashrate (miners) backing it every step of the way. Just my thoughts Grin

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October 20, 2021, 03:28:23 PM
 #83

Yes Bitcoin can be attack, because no computer or system is 100% secure even security devices such as firewall. Attackers are always ready to find weakness in a system with time or any mistakes by the system engineer, attacker will be able to to gain access to the system. Bitcoin is not 100% secure but it is safe for people to invest their money because of the way it is being designed, where every user have their own public and private key.

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October 20, 2021, 05:48:21 PM
 #84

I recently watched an Andreas Antonopoulos video where he was being asked if there was a way for hackers to be able to eventually hack the bitcoin blockchain, namely if there was a way that it could happen with the emergence of quantum computing.  His answer was basically that there is always going to be a possibility but that bitcoin is a programmable coin, where they can always prepare for these types of things and make adjustments as needed.

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October 20, 2021, 07:56:55 PM
 #85

Bitcoin is a strong protocol that it is not possible to attack. I think attached means individual so have no effect on bitcoin system. Bitcoin is safe for everyone and Every investor to safe investment. Bitcoin already proved their value and system. I Think bitcoin will br MORE developing in future.
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October 21, 2021, 03:16:09 PM
 #86

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.  Undecided



Poly network was also a decentralized Finance (DeFi) which contains millions of cryptocurrencies and also trusted by crypto users, but the owner of the platform leaves a small vulnerability in its code which enabled the hacker named Mr. White Hat to take $610 million worth of cryptocurrencies.
Bitcoin in the other hand is also a decentralized digital currency that uses a blockchain technology as a fundamental in-order to keep its system secure and safe which makes it harder to hack.
It is only possible to hack and steal bitcoins from the owners who refused or neglect the use of high security wallets.

Therefore, bitcoin's system is invulnerable or impossible to hack.

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October 21, 2021, 03:31:37 PM
 #87

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.  Undecided



Poly network was also a decentralized Finance (DeFi) which contains millions of cryptocurrencies and also trusted by crypto users, but the owner of the platform leaves a small vulnerability in its code which enabled the hacker named Mr. White Hat to take $610 million worth of cryptocurrencies.
Bitcoin in the other hand is also a decentralized digital currency that uses a blockchain technology as a fundamental in-order to keep its system secure and safe which makes it harder to hack.
It is only possible to hack and steal bitcoins from the owners who refused or neglect the use of high security wallets.

Therefore, bitcoin's system is invulnerable or impossible to hack.

there is no smart contract on BTC so its almost nothing to be attacked on its code. its possible on the 2nd layer and those rBTC or wBTC which is close to being BTC itself since these are representation of real BTC in their network just like the Poly.

if OP meant any other attacks like Mining or SEC regulations, its happening already and non of it yet had succeed.














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October 21, 2021, 04:43:37 PM
 #88

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.  Undecided


I believe that it is possible for an attack to happen, but extremely unlikely. Mempool floods are an attack that can be pulled off within the foreseeable future as said in a post before mine. a 51% attack is close to impossible on bitcoin, the hashrate needed to pull off an attack such as a 51% is tremendous, they're arent enough ASICs in production to be able to buy enough to do a 51% attack. Supercomputers are out of the picture as well, they are not very good at mining BTC. An attack is possible, but so unlikely, that I dont worry about it.


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October 22, 2021, 03:46:13 PM
 #89

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.  Undecided


Two years ago I was in a conference connected with crypto and it was said that there had been no such a powerful computer that could destroy Bitcoin's blockchain yet, so I think that in terms of it we are in safety now. What comes to polynetwork, it is just a defi-project, so hacker found an vulnerability in its smart-contract and stole money. But there is no Bitcoin's smart-contract and if someone changes something in Bitcoin's code it just will not be accepted by other computers.

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October 22, 2021, 03:58:58 PM
 #90

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.  Undecided


Two years ago I was in a conference connected with crypto and it was said that there had been no such a powerful computer that could destroy Bitcoin's blockchain yet, so I think that in terms of it we are in safety now. What comes to polynetwork, it is just a defi-project, so hacker found an vulnerability in its smart-contract and stole money. But there is no Bitcoin's smart-contract and if someone changes something in Bitcoin's code it just will not be accepted by other computers.
Hacking bitcoin smart contracts is impossible, because hackers have to break many blocks to be able to steal them. but what often happens is hacking of bitcoin wallets which usually occurs because of the negligence of the owner himself, and when that happens, it will be difficult to find it

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October 24, 2021, 02:46:25 PM
 #91

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?
Alright, but don’t you think that if Bitcoin was ever going to be hacked that it is something that would have happened yes back? Bitcoin has been around for over a decade now and we still haven’t seen anything or any news that says that Bitcoin was hacked.

For me, I don’t think such is going to happen, because if it was really going to happen then it should have happened in years back. Hackers would have even taking advantage of it if it was possible and they would have used it as a means for them to make lots of money from the market, but if they have not been able to do it then it’s not going to work. And don’t forget that Bitcoin is decentralized and doesn’t have a central authority that controls it.
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October 24, 2021, 03:33:30 PM
 #92

when things like this continue to be thought about, it will continue to be an endless thought because on the other hand bitcoin is something with sophisticated technology that will even be very difficult to penetrate because it has a super high security system.
on the other hand in the mirror of the events that have happened everything will not be predictable and everything can happen.
but maybe bitcoin is an exception with a system that will not be easily broken by thieves, but when you say this to the wallet it will certainly be a different story.

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October 24, 2021, 05:08:35 PM
 #93

For example, Bitcoin's whitepaper is 9 pages long. Poly's on the other hand is 41.
Yet it got hacked. It goes to buttress the fact that it's not the size of the dog that matters but the fight in the dog. Despite the few pages of its whitepaper, Bitcoin is able to knit all and anything that could cause it getting hacked.

Again, OP's question should make us realize that if it were possible to hack the Bitcoin network; Bitcoin haters would've long done that instead of the media attacks they heap on Bitcoin. As for if, "BTC can be attacked?", that attack has been ongoing for years with FUD here and there and the media amplifying the hatred. It's nothing new.

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roadrunnerjaiv2025
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October 24, 2021, 05:37:42 PM
 #94

I think Bitcoin, itself, can't be hacked. I mean how would hacking Bitcoin benefit anyone really? Its value depends mainly on investors. I think what you are referring to is the blockchain, or storage devices, or maybe the company running Bitcoin. Well, all of those can be hacked alright, although the blockchain is almost impossible to hack because it's growing by the millisecond (every time someone makes a transaction) and there are contracts to sign here and there. You will need hundreds of supercomputers to at least replicate it, but why invest in those machines if you can simply invest in Bitcoin and gain 10x more profit (this is probably why no one has dared after all these years)?
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October 24, 2021, 06:04:22 PM
 #95

I recently watched an Andreas Antonopoulos video where he was being asked if there was a way for hackers to be able to eventually hack the bitcoin blockchain, namely if there was a way that it could happen with the emergence of quantum computing.  His answer was basically that there is always going to be a possibility but that bitcoin is a programmable coin, where they can always prepare for these types of things and make adjustments as needed.
Programatically, there's a chance however tiny for anything to happen which is why he's answer is a honourable one.

Machines and codes are one thing but they are not impregnable - nothing really is. We are all taking our chances that the probability of the network even outside of Bitcoin is one that's infinitesimally small and we all go about our lives assuming that's the case but we should never be blinded by the true fact that nothing is impossible.
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October 25, 2021, 06:47:21 PM
 #96

Bitcoin is a strong protocol that it is not possible to attack. I think attached means individual so have no effect on bitcoin system. Bitcoin is safe for everyone and Every investor to safe investment. Bitcoin already proved their value and system. I Think bitcoin will br MORE developing in future.
so far we have never heard of any news about bitcoin being able and capable of being attacked, what you say is absolutely true that no one will be able to attack bitcoin until now, that the system developed by bitcoin really protects it from unwanted things.

but for individuals, I agree that it is possible for someone to take bitcoins from hacker attacks and steal from wallets because of the carelessness of the wallet holders themselves, so not the system.
as long as the bitcoin holder can't be tricked or do something that his wallet can finally be found out, it can be guaranteed that it will be safe.

I agree that bitcoin has proven that with the developed system it can continue to grow and bitcoin will be increasingly sought after and made into an increasingly attractive investment for investors.
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October 26, 2021, 12:33:38 AM
 #97

It will remain safe if we are able to keep it as good as possible and as private as possible, this of course depends on the Bitcoin owner how they manage and remember private keys, passwords, emails,.... also never entrust the wallets to anyone except the own family.
If we look at it in the outline... Bitcoin will be difficult to hack and the security level of the blockchain is still strong, did we experience various kinds of hacks so far? I think it's still a small possibility till now.
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October 26, 2021, 06:53:18 AM
 #98

It will remain safe if we are able to keep it as good as possible and as private as possible, this of course depends on the Bitcoin owner how they manage and remember private keys, passwords, emails,.... also never entrust the wallets to anyone except the own family.
If we look at it in the outline... Bitcoin will be difficult to hack and the security level of the blockchain is still strong, did we experience various kinds of hacks so far? I think it's still a small possibility till now.
many people are careless when there is a phishing case, they are a lot tempted by what is offered, and have the desire to try it, and finally their data can be stolen. for the next of kin, I think we need to tell one of them for the private key, sometimes we don't know what will happen to us, so that if left, our family can still access the assets
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October 26, 2021, 07:00:22 AM
 #99

It will remain safe if we are able to keep it as good as possible and as private as possible, this of course depends on the Bitcoin owner how they manage and remember private keys, passwords, emails,.... also never entrust the wallets to anyone except the own family.
If we look at it in the outline... Bitcoin will be difficult to hack and the security level of the blockchain is still strong, did we experience various kinds of hacks so far? I think it's still a small possibility till now.
many people are careless when there is a phishing case, they are a lot tempted by what is offered, and have the desire to try it, and finally their data can be stolen. for the next of kin, I think we need to tell one of them for the private key, sometimes we don't know what will happen to us, so that if left, our family can still access the assets

Agree, phising is most likely the main reason why people are getting hacked without their knowledge. This is because they advertise or make people believe that their website is legitimate, and the other reason why you've been hacked is because you didn't use 2FA or other security measures. Yes, if you fall victim to phishing, but if you enable 2FA, the hacker will have a much more difficult time accessing your accounts, which is why it is so important. Invest in a hard wallet as well, as this is the safest way to safeguard your account.
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October 26, 2021, 07:13:14 AM
 #100

Bitcoin is incomparable to any coins now despite of their competence to manage their project in a better position. However, Bitcoin is Bitcoin which made something extraordinary use case and programming. I also believe that no one will try to hack Bitcoin as we know the suspect may not be in good condition at the very moment. Bitcoin is now partnership with country, banks, and business.

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