First let's get this straight when you mean cryptocurrency cab be hacked. Do you mean either a cryptocurrency exchange, wallet or what?
But no matter what you meant if there a lapses from the technical aspect it can surely be invaded by hackers
Topic: Every Cryptocurrency Can Be Hacked in Just a Few Seconds (Read 582 times)
As far as I can see this this as just an assumption but seems like no one has ever done this in the past. Yes, it might be possible, especially with the way technology is evolving today but for now it's just a speculation and we'll have to wait until that happens so that we can truly say if this is a problem or not for us. People can say anything about everything but very few are actually proving what they are saying.
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that is not how quantum computers work and i am starting to wonder where do all these so called "experts" come from these days. it still wouldn't be a matter of seconds even if a much more powerful computer was invented and on top of that a much faster algorithm to solve the elliptic curve problem. not to mention that we are decades away from such computers!
Aside we are decades away from the creation of the mentioned computers, the crypto currency market is getting broad day by day and what most of the expert are doing this days is making the public notice them or say some false things about a project which might hinder their own project which is yet to be create just like the JPMorgan does to Bitcoin before the birth of it own stable coin.
How are they going to achieve this? I guess the chances of blockchain being takenover/hacked is high with few nodes... They would have to control the majority of the nodes or something?
Well, I guess If this was possible they would have done it since.
Well, I guess If this was possible they would have done it since.
everything can happen, but in my opinion the blockchain cannot be cracked by anyone unless people make the chain itself. So now only the market can be hacked, secure your assets in the hardware wallet
LOL, This is just pure rubbish, can be hacked in matter of seconds? And yes this has been put into debates years ago and no one can really tell us if quantum can really break blockchain technology. This article is just for click-bait and promote Ray Ram Thanni Hcash.
None have been hacked yet. The weak point has always been the exchanges, or people being phished.
Couldn't agree more mate, at this moment we don't need to afraid about some quantum computer that hasn't invented yet. The weakest point of cryptocurrency is the user itself. 
Is it possible that all current blockchain-based cryptocurrencies (like Bitcoin) can be hacked in just a matter of seconds? It indeed seems possible, based on the statements made by Dr. Joseph Liu, Associate Professor at Monash University.
Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
When someone hacker has access to the wallet, it is very possible to be able to do hacking against the wallet. So basically that as long as we can keep the wallets we have safely we will get a sense of security too. Take care of all information relating to the wallet and when we use web-based wallets such as exchange, then choose an exchange that does have the best reputation. Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
I think OP means like what Einstein or some other smart guy said,,, that nothing is impossible, given the correct time and resources. But let us face it, if you give someone 10 million years and all the supercomputers in the world, he maybe can crack a few Bitcoin private keys. But in 5 years for sure Bitcoin security will be upgraded, the hashpower higher, everything. You think it will be easy?
It surely not to be easy for them and it takes years to finally crack down Bitcoin keys. I will really get amaze when hackers spend millions just for this, maybe not for sure. Hackers are just around us, they are just waiting for anyone who could be their victim. If we have to be careful of our keys, definitely we are safe( but not a hundred 100%). 
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do you know if the bitcoin devs have discussed it at all? quantum resistant/one time use signature schemes etc? i don't think it needs to be rushed but it would be good to know what the consensus is among developers.
i'm not too worried personally as i agree, it's still years off by the most optimistic estimates. and we can protect ourselves by storing coins in addresses that have never been used to sign transactions.
it's interesting to think about though. for instance, lots of the early satoshi coins are held on p2pk addresses. those will be stolen eventually. i wonder how much the market will panic when that happens!
do you know if the bitcoin devs have discussed it at all? quantum resistant/one time use signature schemes etc? i don't think it needs to be rushed but it would be good to know what the consensus is among developers.
i'm not too worried personally as i agree, it's still years off by the most optimistic estimates. and we can protect ourselves by storing coins in addresses that have never been used to sign transactions.
it's interesting to think about though. for instance, lots of the early satoshi coins are held on p2pk addresses. those will be stolen eventually. i wonder how much the market will panic when that happens!
not that much, although i am not really following these things so it doesn't count. i have seen some talks about it on the mailing list.
there was a recent topic in development discussion board with some links in the replies but as others also say, there seems to be no serious discussion about this yet.
I think OP means like what Einstein or some other smart guy said,,, that nothing is impossible, given the correct time and resources. But let us face it, if you give someone 10 million years and all the supercomputers in the world, he maybe can crack a few Bitcoin private keys. But in 5 years for sure Bitcoin security will be upgraded, the hashpower higher, everything. You think it will be easy?
it might be closer to a decade (singular) than multiple decades, if moore's law is any indication. according to this paper, bitcoin's signature algorithm could be broken within 8 years: https://arxiv.org/pdf/1710.10377.pdf
needless to say, we should probably start planning for this.
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On the other hand, the elliptic curve signature scheme used by Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027, by the most optimistic estimates.
needless to say, we should probably start planning for this.
that still wouldn't be a matter of seconds but days. not to mention that it will work only on one public key at a time not the whole system.
i never liked articles that are purely based on data extrapolation though because it makes a ton of assumptions. but i agree that we need to start planning for it. so far the alternative solutions i have seen have never been taken seriously because they weren't as strong and there has never been any serious threat to rush it.
do you know if the bitcoin devs have discussed it at all? quantum resistant/one time use signature schemes etc? i don't think it needs to be rushed but it would be good to know what the consensus is among developers.
i'm not too worried personally as i agree, it's still years off by the most optimistic estimates. and we can protect ourselves by storing coins in addresses that have never been used to sign transactions.
it's interesting to think about though. for instance, lots of the early satoshi coins are held on p2pk addresses. those will be stolen eventually. i wonder how much the market will panic when that happens!
I have heard a lot about quantum computers, it is theoretically a threat to bitcoin. But that is only a theory, in fact, to hack crypto systems in seconds is an unbelievable thing, not to mention quantum computing is still a paper-based theory.
I think the current blockchain is still a very secure system for at least next twenty years. If the quantum computer was born then the blockchain technology would have changed a lot, so it was hard to hack crypto.
I think the current blockchain is still a very secure system for at least next twenty years. If the quantum computer was born then the blockchain technology would have changed a lot, so it was hard to hack crypto.
I think we are fine even with the current computing power.
Also why does Dr. Joseph Liu look angry?
Also why does Dr. Joseph Liu look angry?
that is not how quantum computers work and i am starting to wonder where do all these so called "experts" come from these days. it still wouldn't be a matter of seconds even if a much more powerful computer was invented and on top of that a much faster algorithm to solve the elliptic curve problem. not to mention that we are decades away from such computers!
You know, it'll be kind of interesting to see quantum computers follow a similar progression to what we had with the first CPUs. Going from room-sized computing labs to small, box-sized computers with even smaller processors, it'd be cool to see if that'll happen. Maybe we'll find a new branch of computing where quantum processors are run alongside our "standard" CPUs. That'd be cool.Regardless, the cryptography is still sound. There is nothing close to proof that quantum computing is going to break what we have now. While it's something to think about, it's not a serious issue.
By the time Bitcoin can be hacked, other passwords and logins will have been hacked much earlier. That is, if one day is possible, all the internet and the system of logins in websites, emails, banks etc would have been changed.
And we would have several other implications on thousands of systems. But the advantage of bitcoin is that it is an open source project with thousands of contributors and stakeholders. It is not a closed company. Then an innovative change will be created when there is, in fact, such a risk.
And we would have several other implications on thousands of systems. But the advantage of bitcoin is that it is an open source project with thousands of contributors and stakeholders. It is not a closed company. Then an innovative change will be created when there is, in fact, such a risk.
that is not how quantum computers work and i am starting to wonder where do all these so called "experts" come from these days. it still wouldn't be a matter of seconds even if a much more powerful computer was invented and on top of that a much faster algorithm to solve the elliptic curve problem. not to mention that we are decades away from such computers!
it might be closer to a decade (singular) than multiple decades, if moore's law is any indication. according to this paper, bitcoin's signature algorithm could be broken within 8 years: https://arxiv.org/pdf/1710.10377.pdf
Quote
On the other hand, the elliptic curve signature scheme used by Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027, by the most optimistic estimates.
needless to say, we should probably start planning for this.
that still wouldn't be a matter of seconds but days. not to mention that it will work only on one public key at a time not the whole system.
i never liked articles that are purely based on data extrapolation though because it makes a ton of assumptions. but i agree that we need to start planning for it. so far the alternative solutions i have seen have never been taken seriously because they weren't as strong and there has never been any serious threat to rush it.
I believe that every human's made have vulnerability although they say that one product cannot be hacked but the truth, it will always have the potential to have a bug. But not all people can find that bug if he doesn't have skills to search or scan the bug. That is why we already saw that many exchanges had been hacked so far, but it doesn't mean that we cannot fix the issues because there will be many more people who have a high-skills that could fix the problems.
The quantum computer might be not too popular right now but since it still on the develop, I think in the future, we will going to use the quantum computer because I believe that the better technology will always be invented in every year.
The quantum computer might be not too popular right now but since it still on the develop, I think in the future, we will going to use the quantum computer because I believe that the better technology will always be invented in every year.
that is not how quantum computers work and i am starting to wonder where do all these so called "experts" come from these days. it still wouldn't be a matter of seconds even if a much more powerful computer was invented and on top of that a much faster algorithm to solve the elliptic curve problem. not to mention that we are decades away from such computers!
it might be closer to a decade (singular) than multiple decades, if moore's law is any indication. according to this paper, bitcoin's signature algorithm could be broken within 8 years: https://arxiv.org/pdf/1710.10377.pdf
Quote
On the other hand, the elliptic curve signature scheme used by Bitcoin is much more at risk, and could be completely broken by a quantum computer as early as 2027, by the most optimistic estimates.
needless to say, we should probably start planning for this.
Is it possible that all current blockchain-based cryptocurrencies (like Bitcoin) can be hacked in just a matter of seconds? It indeed seems possible, based on the statements made by Dr. Joseph Liu, Associate Professor at Monash University.
Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
Dr. Liu’s qualifications add allot of weight to his statements. He is the Head Researcher at Monash Blockchain Research Lab, the Chief Scientist of HCash and he is also the co-creator of the Moreno cryptocurrency. In other words, his statements about cryptocurrency development should be taken seriously...
https://www.bitcrypt.co/every-cryptocurrency-hacked-in-seconds/
If he's going to talk the talk, he should walk it. It's much easier saying that a project is hackable than to actually hack it. Of course, all kinds of theoretical vulnerabilities may exist, such as quantum computing. But if it was so easy to hack bitcoin and other blockchains, it would already be done.
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