Topic: Bitcoin can be hacked? - page 7. (Read 3944 times)
Bitcoin can not be attacked If you talk about bitcoin wallets answer is yes .unnless you give out your unentrypted wallet.dat file. If you encrypt your wallet.dat file with a passphrase ( at least one capital letter and a special character), you should be fine. Also, never give out your private keys. Private keys are for you only and no one else. Do not fall for email phishing scams that request your private keys.
In my understanding Blockhain makes bitcoin transaction an open ledger to all. A transaction to be approved all the ledgers must agree. so even f you can hack one ledger when you introduce it to the network it, the network will not approve it because it doesn't agrees with the other ledgers.
From my point of view it is difficult to violate the Bitquin because it is going through about 20 stages to get from the sender to the recipient but it can happen if the 20 violations were breached.
If there was a secret code to break Bitcoin that wasn't published then that person could damage Bitcoin.
From my point of view it is difficult to violate the Bitquin because it is going through about 20 stages to get from the sender to the recipient but it can happen if the 20 violations were breached.
however, hackers will keep looking for ways that they can benefit by taking other people's assets. ranging from web pishing to hacking the system's DNS. to avoid hacker attacks we must be careful in storing bitcoin, and always make sure that the web we use is not pishing.
Yes it is possible to hack because we keep our balance in wallet and wallet can be hacked if wallet can hacked, bitcoin also be hacked .
What does it mean "hacked"? Bitcoin is decentralized cryptocurrency it is impossible to hack. The chain of bitcoin its information is on every pc which is part of the system.
You can’t say this is impossible. Anything that is formed or developed regarding tough security concerns, they are more available for the hackers to try on it. Like if my house is digitalized then it is not that much vulnerable to thief rather the white house in Washington. Why it is so, because that is more sensitive and potential place than my ordinary house. So bitcoins are more secure, hence more vulnerable to attacks.
Bitcoin cant be hacked it is unhackable and no one can cheat bitcoin every code is unique transaction
Bitcoin cannot be hacked because of its encryption that is end to end which is very powerful for the hackers to hack. Bitcoin is one of the best cryptocurrencies which have a great amount of security that is enough for the users of bitcoin to feel safe and be comfortable, i think that bitcoin's security is one of the most powerful thing in the internet so there is no need to worry for getting hacked.
Blockchain stores information across a network of personal computers permanently which distributes the information decentralizing the network. In a decentralized system, there are numerous computers that try to update the ledger, a collection of financial accounts that records every transaction which is ever breathing. To add a block of transactions to the chains, each person maintaining the ledger solves a math problem created by the cryptographic hash function which takes input of any size and creates an output of the fixed size. What makes Blockchain hack proof is the millions of users of Blockchain. They make it difficult for anyone to corrupt the network. Each block has a timestamp and a link to the previous block forming a chronological chain reinforced through cryptography ensuring the records cannot be altered by others. Due to the transactions needing multiple parties’ authorization before acceptance, Blockchain has a high degree of trust value
Yes but so far it has never happened.
When it will happen, bitcoin will die…
Quantum technology would be something to consider, while the SHA-1 encryption technology has been recently hacked… But not yet the blockchain.
Because it has been able to pass over 10 years without any hacks, it looks like the basics are very well set. But I believe that in technology, everything is possible, it’s a question of time and speed. Quantum is, on paper, able to hack the blockchain but it has to be effective very quickly because it will have to hack the million of computers (on and offline) which contain the blockchain copy. That’s maybe the real difficulty to perform the hack.
Even if you hack 999.999 computers, if only one is still working with a copy of the blockchain (let’s assume it’s an offline one), then you can retrieve everything from the start of the bitcoin, and copy/paste the information very quickly through the network.
So I don’t think we should think that it’s not hackable. It’s a wrong statement.
jm
Don’t forget Nakamoto: nobody knows him, nobody care now. But if he is somewhere and still alive, he’s able to know what to do to scam the network, make some dollars and leave the blockchain as part of the prehistory…
When it will happen, bitcoin will die…
Quantum technology would be something to consider, while the SHA-1 encryption technology has been recently hacked… But not yet the blockchain.
Because it has been able to pass over 10 years without any hacks, it looks like the basics are very well set. But I believe that in technology, everything is possible, it’s a question of time and speed. Quantum is, on paper, able to hack the blockchain but it has to be effective very quickly because it will have to hack the million of computers (on and offline) which contain the blockchain copy. That’s maybe the real difficulty to perform the hack.
Even if you hack 999.999 computers, if only one is still working with a copy of the blockchain (let’s assume it’s an offline one), then you can retrieve everything from the start of the bitcoin, and copy/paste the information very quickly through the network.
So I don’t think we should think that it’s not hackable. It’s a wrong statement.
jm
Don’t forget Nakamoto: nobody knows him, nobody care now. But if he is somewhere and still alive, he’s able to know what to do to scam the network, make some dollars and leave the blockchain as part of the prehistory…
Yes, but it is very unlikely, difficult and expensive - it depends also on type of the network:
permisionless (public blockchain) - it is extremely hard, it requires to take control over most of nodes (almost impossible), but some big countries may be able to do it… - question of cost effectiveness
permissioned (private or consortium blockchain) - it depends on the security of the private/consortium network, it is easier because there is much less nodes to hack and they are easier to track
permisionless (public blockchain) - it is extremely hard, it requires to take control over most of nodes (almost impossible), but some big countries may be able to do it… - question of cost effectiveness
permissioned (private or consortium blockchain) - it depends on the security of the private/consortium network, it is easier because there is much less nodes to hack and they are easier to track
Theoretically, yes. However, I don't think that this would ever be possible. I would be more concerned about whether or not crypto wallets could be hacked since this has been done before and could happen again.
It's can't be hacked because of difficult hashing algoritm sha256 and series of blocks that can't be hacked until you didn't decipher past blocks. And you will never got enough hashing power.
I don't think so, but if you talked about bitcoin wallet i think yess. but bitcoin can't be hack because blockchain technology is now growing and no one knows how bitcoin was created.
I think that bitcoin cannot hacked because its already have a strong security when it comes bitcoin and the blockchain are growing too, so we dont need to worry about those hacker man. The man who created bitcoin are so great developer so i believe that no one can attacked the bitcoin forum for transaction.
I love the concept of Bitcoin. I believe the Internet will redefine currency as we know it. I hope this helps the Bitcoin community to develop a currency that's really resilient to attacks.
But, is it possible?
But, is it possible?
Nope, you can not hack bitcoin but you can bitcoin holders' coin in a different way. but mainly you can not hack bitcoin.
Really hacking bitcoin in order to create blocks by purpose, that is not possible at the moment. If it would be, somebody would have done so and the bitcoin would be worthless. What the future holds, nobody can tell. I don't even think of the quantum computers that are often mentioned. I am more thinking of artificial intelligence. If the programs get smarter over time maybe one of them will find find a way.
The algorithms for computing the hash function of the SHA-256 and ECDSA standards are considered to be those that can not be cracked on current computer power. The advent of high-performance quantum computers will increase the risk of hacking these functions. In this case, the hash function Bitcoin can be replaced by a more complex one.
Bitcoin is being based on cryptography which makes it harder to crack the network but that doesn't mean it is impossible to crack it. So let's suppose a hacker has a supercomputer and he tries to crack a private key with it then it will take very long time but let's assume it takes around 3 years of constant cracking so it is not guaranteed that even if the hacker is successfully able to crack a private key and whether the user is going to keep his balance on that address for over 3 years. And the blockchain network is based on the chain system where if anyone tries to modify A block then all the previous blocks will become invalid and miners have to mine the whole network from the start. So this is how secure it is.
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