Do you believe BTC can be attacked? - page 5.

JohnBitCo

sr. member

Activity: 2030

Merit: 356

Quote from: Assface16678 on September 24, 2021, 01:34:31 PM

BTC is the most secure crypto asset today, the only thing that you will lose it is by getting hacked in your wallet account holding it. Beside, there are multiple holders that didn't even think about being breached how ever they are more concern in the price of btc today. Price manipulation maybe, but the whole thing I think not.

Bitcoin Blockchain cannot be hacked and there will be no issue in it. However, bitcoin wallets and exchanges can be hacked and you can lose your funds. However again, no one can hack your bitcoins from your wallet unless you are careless with your secret keys or passwords.

Renampun

sr. member

Activity: 2338

Merit: 365

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

bitcoin is very different from poly, bitcoin does not use smart contracts so it is very safe...

since bitcoin appeared from the very beginning I believe there are millions of hackers who test their abilities whether they are able to hack bitcoin but we see that bitcoin is very safe until now.

bixiiMaphi321

member

Activity: 122

Merit: 10

I believe there are countless hackers attacking Bitcoin, they are tirelessly searching for Bitcoin vulnerabilities. We have not heard any news that hackers have successfully hacked Bitcoin. News like this can shake the community a bit, but it's important to note that this will not affect the Bitcoin network, which will continue to function normally. Bitcoin-related third-party websites or services are not directly connected to the Internet. Due to the proof-of-work mechanism implemented by the network, it is not possible to “crack” the blockchain and attempt to crack the system. Also, Bitcoin is designed to be a self-sustaining system, so even if some malicious actor tries to attack it, the network will adjust to keep it running without harm. Do you know why Bitcoin is still the most popular cryptocurrency even though it takes longer transaction time and higher fees? For security. The Bitcoin network is quite stronger than any other cryptocurrency. A lot of cryptocurrencies have been created with faster transaction speeds and lower transaction fees, but due to the lack of strong security, they are still the backing of Bitcoin.

Assface16678

full member

Activity: 1484

Merit: 136

★Bitvest.io★ Play Plinko or Invest!

BTC is the most secure crypto asset today, the only thing that you will lose it is by getting hacked in your wallet account holding it. Beside, there are multiple holders that didn't even think about being breached how ever they are more concern in the price of btc today. Price manipulation maybe, but the whole thing I think not.

cryptocurrencyboss

newbie

Activity: 8

Merit: 0

Theoretically there is no way to hack BTC due to the use of blockchain technology. But the recent hacks of different cryptocurrencies should be taken into consideration. If BTC is hacked someday, thousands of people may suicide.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: blockman on September 23, 2021, 07:30:37 PM

That's why PoW is best for bitcoin because it has been securing the network until now and it will continuously secure. There has been a lot of suggestions about bitcoin changing it to PoS but there's a major network security concern and that's why it is good as is.
Those altcoins networks can be hacked and they cannot be the same as bitcoin's security. That's why you get to see always the news about hacking in altcoin's networks like Poly and there's a 51% attack in the past from Bitcoin gold and others because they're not that really secure.

Undeniably, PoW is the best consensus algorithm towards achieving decentralization and censorship-resistance. Other consensus algorithms may be energy efficient, but they're missing the most important thing to keep the blockchain as resilient from attacks as possible (which is security/reliability). It's no wonder why other altcoins are easily "attacked" by malicious actors in cyberspace. The same cannot be said about Bitcoin, since the cost to perform such an attack would be too high. Hacking Bitcoin is like trying to hack "Fort Knox". I hope Bitcoin stays this way so that people can enjoy financial freedom without disruptions. Just my opinion

fiulpro

hero member

Activity: 1890

Merit: 831

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

Bitcoins by itself cannot be attacked if we are using it safely and correctly. When we are talking about quantum computers it's a whole different thing, that can definately create probelms but for the time being the reason,I do not take quantum computers as a threat is because the government websites are more vulnerable than bitcoins, therefore at the end of the day, these websites would be the one to go if the quantum era comes, therefore I do think these computers would be monitored closely.

Other than that there is something like personal errors that one makes every once in a while in context to their bitcoins and their own wallets, downloading something that is not really safe, going on suspicious websites, using the same address again and again, not securing your wallet etc.

Also the hash rate might be forcibly controlled for example:- China, the government tried to but did not succeed.

These personal errors makes it way more easier to attack and to hack bitcoins, which honestly is something that can mess the whole system up in a matter of seconds, therefore I do believe that it can be attacked for sure. But it's dependent on your personal errors for the time being and it's not an issue with the bitcoin network..( for the time being )

davis196

hero member

Activity: 3094

Merit: 929

Quote from: bitmover on September 20, 2021, 11:54:48 AM

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.

The Bitcoin price "dropped a lot" in 2017?Are you kidding me?2017 was extremely bullish for Bitcoin.The BTC price went from 1-2K in January to 17-20K USD in December 2017.Is this a price drop? Grin

The BCH fork was an attack,but it wasn't a hack.
Actually I think that the BCH hardfork pumped the Bitcoin Core price a little bit,because many traders and investors bought BTC,because they wanted to claim free BCH and sell them for some easy profits.
Anyway,comparing Bitcoin Core to this Poly network altcoin is ridiculous.
Bitcoin cannot be hacked and even if if was hacked,the BTC price will drop to zero,which makes the hack pointless,because the hackers will spend a lot of resources and efforts and get nothing in return.

Kong Hey Pakboy

member

Activity: 1120

Merit: 68

Quote from: A BLackPearl on September 24, 2021, 12:00:41 AM

I believe that Bitcoin is under attack all the time. Bitcoin is not that easy to attack. Some hackers have been looking for vulnerabilities in Bitcoin. However, it has not been heard that Bitcoin's vulnerabilities have been discovered, because technicians have been constantly updating the system. Give everyone a safe environment.

That's a bit over the top if you ask me, I don't think that everyone tries their luck in breaking bitcoin, other people from the past have tried their hands on breaking bitcoin but they weren't able to do it because they know what they're up against.

FinneysTrueVision

sr. member

Activity: 1680

Merit: 379

Top Crypto Casino

Poly Network wasn't a blockchain, it was a DeFi platform, so it is not really comparable to Bitcoin. This was more like The DAO getting hacked. Bitcoin can't be hacked because it is not the code itself that decides what Bitcoin is, it is consensus. You can have bugs in Bitcoin Core software but when this happens they are fixed and everyone agrees on what will get validated.

Sayeds56

copper member

Activity: 1316

Merit: 715

Eloncoin.org - Mars, here we come!

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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 have no knowledge of any hacking incident happened during the past years on Bitcoin network. I think it is next to impossible that Bitcoin network can be hacked its security is unique and hacks are very unlikely to happen on its network. This is mainly because of the technology that underpins it – the blockchain. The blockchain records and indexes Bitcoin transactions, creating a searchable database of all of them in the process. Think of it like a normal ledger.

https://www.bing.com/search?q=is+it+possible+to+hack+bitcoin&form=ANNTH1&refig=127817b166ef42bdb6004aef883cd98e

A BLackPearl

newbie

Activity: 27

Merit: 0

I believe that Bitcoin is under attack all the time. Bitcoin is not that easy to attack. Some hackers have been looking for vulnerabilities in Bitcoin. However, it has not been heard that Bitcoin's vulnerabilities have been discovered, because technicians have been constantly updating the system. Give everyone a safe environment.

blockman

hero member

Activity: 3066

Merit: 629

Vave.com - Crypto Casino

That's why PoW is best for bitcoin because it has been securing the network until now and it will continuously secure. There has been a lot of suggestions about bitcoin changing it to PoS but there's a major network security concern and that's why it is good as is.
Those altcoins networks can be hacked and they cannot be the same as bitcoin's security. That's why you get to see always the news about hacking in altcoin's networks like Poly and there's a 51% attack in the past from Bitcoin gold and others because they're not that really secure.

Natalim

hero member

Activity: 3038

Merit: 592

BTC to the MOON in 2019

Quote from: isabellel2 on September 23, 2021, 06:26:55 PM

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

It can be hacked, bitcoin is not a perfect machine not to become invulnerable to such attacks. But there is so much speculation about attackers that so far hasn't really happened. out. The attack can be done in manipulating bitcoin and making regulations about it but when we talk technically no attack can be found. Currently, bitcoin is still one of the coins with high security and especially it is decentralized, so it is very difficult to attack.

A lot of scammers have plan to attack bitcoin but they have never succeeded because the security is very tight knowing its decentralized. Even the government also want to attack bitcoin but it will never be possible for sure. Maybe with our individual accounts, the attack are much more possible especially if the owners are not responsible with the security of their accounts. But if we know how to handle them with safety and security, then scammers will never see any chances to attack them.

isabellel2

jr. member

Activity: 187

Merit: 1

www.cd3d.app

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

It can be hacked, bitcoin is not a perfect machine not to become invulnerable to such attacks. But there is so much speculation about attackers that so far hasn't really happened. out. The attack can be done in manipulating bitcoin and making regulations about it but when we talk technically no attack can be found. Currently, bitcoin is still one of the coins with high security and especially it is decentralized, so it is very difficult to attack.

Abiky

legendary

Activity: 3220

Merit: 1363

www.Crypto.Games: Multiple coins, multiple games

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

Technically speaking, Bitcoin can be attacked. But it's difficult to do so right now, since there's a large number of miners backing it every step of the way. It would take a ton of money for an attacker to disrupt the whole Blockchain network. Paying millions (if not billions) of dollars just to make a 51% attack on the blockchain is simply not worth it. Hackers can still attack wallets themselves in order to steal users' private keys. It's up to you to take the necessary security precautions to avoid becoming victim of hacks or theft.

To say the least, Bitcoin is as secure as "Fort Knox". No one will be able to steal your Bitcoin if you do the right thing. It's sound money that's often better than Fiat. Day or night, Bitcoin will always be there thanks to its decentralized and censorship-resistant design. The larger the network's hashrate, the more secure it'll be against 51% attacks. I shouldn't worry about Bitcoin getting attacked in our lifetimes. Just my opinion

imstillthebest

full member

Activity: 1638

Merit: 122

there are people that claims that btc is old and can be hacked but i dont believe on them .
they can only be bitcoin haters and if that was true then why we still have a btc and its only getting stronger .

Quote

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

they may decline because alts always follows btc move but the real cause for their decline is that people will panic and sell .
they will think that if a strong coin like btc can get hacked , why not the altcoins ?

Marvell1

legendary

Activity: 2408

Merit: 1102

Leading Crypto Sports Betting & Casino Platform

Quote from: kenskie on September 20, 2021, 10:54:11 AM

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

In bitcoin's 12 years of existence, there has never been an attack on bitcoin. We have heard many times bitcoins are hacked and stolen but all of them are from exchanges. All of these attacks are not vulnerabilities of the bitcoin network and are vulnerabilities of exchanges. Attacks that rocked the crypto market include:
1. Mt.Gox
Hacked date: June 19, 2011 and 2014
Hacked amount: 2609 BTC, next batch is 750,000 BTC
2. BitFloor
Hacked date: September 2012
Hacked Amount: 24,000 BTC
The hacker obtained the key to access the exchange's Bitcoin wallet. This key is not encrypted, it is stored online as a backup for the offline hard "key". And BitFloor closed in 2013
3. Bitstamp
Hacked date: 4/1/2015
Hacked Amount: 19,000 BTC
4. Bitfinex
Hacked date: August 2016
Hacked Amount: 120,000 BTC
This is the second largest BTC hack after Mt.Gox, the number 120,000 BTC. The cause of the hack was that the hacker successfully exploited a security flaw in the multi-key authentication e-wallet mechanism used by Bitfinex.
And many more hacks going on on crypto exchanges, so you should be very careful and learn how to protect your assets to the maximum.

amishmanish

legendary

Activity: 1904

Merit: 1159

Quote from: dkbit98 on September 20, 2021, 12:06:00 PM

Quote from: bitmover on September 20, 2021, 11:54:48 AM

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.

Rsk of a code based attack or a hack of the Bitcoin network seems a far off possibility now with so many different teams involved and core devs having a lot of upside in terms of funding and incentives. The kind of attacks that people like faketoshi, Ver or Calvin can do, generally find takers during a bear market or during long sideways movements.

In the bullrun, everyone is too busy flipping NFTs and tokens to care about their shenanigans. Everyone knows what Bitcoin is. In terms of social attack vector, i think now that Bitcoin has withstood an onslaught of negativity from the likes of Elon Musk, there is hardly anything that can shake its position as the de-facto reserve currency of the Web 3 economy. The only uncertainty that remains to play out is SEC and other forms of US legislation

zanezane

full member

Activity: 868

Merit: 150

★Bitvest.io★ Play Plinko or Invest!

Quote from: A BLackPearl on September 22, 2021, 05:48:50 AM

I believe that there are countless hackers in attacking Bitcoin, they are looking for a vulnerability of Biitcoin untiring. We haven't heard any news that hackers have successfully attacked Bitcoin. I believe in the perfect system and system of Bitcoin. Bitcoin's technology is great and will continue to innovate. I will always believe in Bitcoin.

There's attempts back in the day and none of them have succeeded and some of those people that attempted to break the code said that it's unbreakable to break. Plus, what's the point of breaking bitcoin anyway? What would they get from doing so?

Topic: Do you believe BTC can be attacked? - page 5. (Read 876 times)