Hacking Bitcoin,How Possible? - page 4.

zhelis74

full member

Activity: 510

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Quote from: privedvelosiped on September 01, 2018, 03:00:33 PM

The author, very informative you have's accession...
As for the main issue. As far as I know, I read online that only a quantum computer able to crack the password to bitcoin and, accordingly, to hack bitcoin. And so it is almost impossible. However, many hackers manage to break not bitcoin but the exchange. Because the exchange is not the blockchain and the code of the programmer, which can be vulnerability.

Yes, blockchain itself can't be hacked or maybe no one will interest to hack since it only contain records and process of all crypto related.But wallet and exchanges is hackable and most common thing that our wallet that contain bitcoins compromise ia when we don't take care of it or we don't have any basic defensive move to avoid being steal

Lizzyflower

newbie

Activity: 52

Merit: 0

I have read that the bitcoin network can not be hack, as hacking it requires all computer system upon which it runs, and these are in millions, that it's too expensive to take such adventure. Although individual wallets can be hacked if not properly secured or exposed due to compromised.

privedvelosiped

full member

Activity: 434

Merit: 108

The author, very informative you have's accession...
As for the main issue. As far as I know, I read online that only a quantum computer able to crack the password to bitcoin and, accordingly, to hack bitcoin. And so it is almost impossible. However, many hackers manage to break not bitcoin but the exchange. Because the exchange is not the blockchain and the code of the programmer, which can be vulnerability.

ACCOUNTSTRADER

jr. member

Activity: 176

Merit: 1

You can hack Bitcoin or other crypto users, but hack Bitcoin its impossible...

BlackHills41

newbie

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It is possible only when the user become careless about the security of his wallet otherwise it is impossible because it is the safest system.

tkaush

newbie

Activity: 121

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Quote from: TonyMillsCryto on July 20, 2018, 12:27:56 PM

When most people first hear about Bitcoin, they usually think there is some way in which the peer-to-peer digital cash system could be hacked. This is nothing new in some ways, as many internet users have seen their Facebook, Twitter, or other social media accounts come under the control of a nefarious actor over the years.
Having said that, Bitcoin is built for security. Due to the large amount of monetary value that relies on the world’s most popular cryptocurrency, the developers who maintain the de facto reference client for the Bitcoin protocol are careful about any new changes that may be made.
I think Bitcoin depends On Open source.
The Power of Open Source
One of the main reasons Bitcoin is viewed as secure is due to the fact that the codebase behind the network is completely open source. Anyone who wants to join the Bitcoin network is able to do so in a completely open and incorruptible manner. New users are able to confirm, if they wish to do so, that the financial network works in the manner intended because they are able to verify the source code that they’re running on their home computers.

Of course, many users don’t actually verify the code related to their interactions on the Bitcoin blockchain. Most users simply purchase some bitcoin on an exchange like Coinbase rather than worry about operating their own full node.
But the point is that the option to run a full node to control one’s own digital financial sovereignty is always there through the use of open source software

Some say Bitcoin is very likely to be hacked even it uses blockchain technology and like many systems that run upon using Internet getting hacked the same thing can be happen to Bitcoin and its wallets but according to my understanding the basic build algorithm or the technology behind Bitcoin network is far more sophisticated to hacked or interrupted by normal hackers or otherwise considering today criminal activities those hackers do Bitcoin wallets should already been hacked by such criminals but there is no news we hear like that

arc67583

newbie

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Quote from: previously123 on July 21, 2018, 03:54:04 AM

It is impossible because Bitcoin is really famous for its safety

Yes We use Bitcoin because its safety in the first place and that is the significance of its build blockchain technology to be untouchable or get hacked by anyone in the world and so far this is a great currency in the crypto world to do transactions without worrying about criminal attacks.

TropicalResource782

newbie

Activity: 59

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As far I know bitcoin is the most secure system but the fact is it is also run through internet and those things which is connected through internet can be hack.

babarian

full member

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of course that is very possible. because bitcoin makes the internet as a means of transaction, it is very likely that bitcoin will be hacked.

prikitiw

sr. member

Activity: 490

Merit: 250

Hacking bitcoin is something that is impossible for others to do. Because some technologies such as Open Source are very helpful in maintaining the integrity of bitcoin. Plus bitcoin is very centralized with Blockchain technology. But you must remain cautious and protect your assets by being smarter in everything you do.

Maruf Nazir

newbie

Activity: 196

Merit: 0

Bitcoin identity can be stolen in any way. I found myself authentic with my identity, stole my ether and facebook, and because of this my identity has become very worthless, which is very humiliating for a hunter. Bitcoin saw the identity card of many people being stolen and stolen in such a way that there is no scope to get it. So hacking is and is very easy.

tungaqhd

hero member

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Merit: 508

Hmm it is hard to say. I think that hackers will attack on the network and make 'double spend', but in fact, they prefer hacking your wallet or exchanger.

ranman09

full member

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Quote from: TonyMillsCryto on July 20, 2018, 12:27:56 PM

But the point is that the option to run a full node to control one’s own digital financial sovereignty is always there through the use of open source software

What do you actually mean by this? A full node can control the sovereignity of all? I think you need to rephrase this, don't you think?

JustinMoser

newbie

Activity: 63

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Why it is not possible, hackers are also upgrading themselves with the up gradation of every system and every system that runs through Internet can be hacked.

tanjilrifat

newbie

Activity: 154

Merit: 0

The manager of the most popular coin of the world which is bitcoin has been working day in day out to ensure that the large amount of money committed to this project does not go down the drain. It is always an online platform, so hackers use this to their advantage.

AlexAtom

member

Activity: 560

Merit: 10

YOUC - www.youengine.io

Quote from: TonyMillsCryto on July 20, 2018, 12:27:56 PM

When most people first hear about Bitcoin, they usually think there is some way in which the peer-to-peer digital cash system could be hacked. This is nothing new in some ways, as many internet users have seen their Facebook, Twitter, or other social media accounts come under the control of a nefarious actor over the years.
Having said that, Bitcoin is built for security. Due to the large amount of monetary value that relies on the world’s most popular cryptocurrency, the developers who maintain the de facto reference client for the Bitcoin protocol are careful about any new changes that may be made.
I think Bitcoin depends On Open source.
The Power of Open Source
One of the main reasons Bitcoin is viewed as secure is due to the fact that the codebase behind the network is completely open source. Anyone who wants to join the Bitcoin network is able to do so in a completely open and incorruptible manner. New users are able to confirm, if they wish to do so, that the financial network works in the manner intended because they are able to verify the source code that they’re running on their home computers.

Of course, many users don’t actually verify the code related to their interactions on the Bitcoin blockchain. Most users simply purchase some bitcoin on an exchange like Coinbase rather than worry about operating their own full node.
But the point is that the option to run a full node to control one’s own digital financial sovereignty is always there through the use of open source software

Of course, bitcoin is cryptocurrency, it is the encrypted currency. Encryption is one of security system. So, basically there is no one can hack bitcoin.
The most hacking cases occurred are because of human error itself. Because of that, when peoples want to enter cryptocurrency,
they should study about how to protect their wallet at least not to getting phished by others.

Femhab

full member

Activity: 238

Merit: 100

I think hacking wallet system is common to centralized exchanges since it is always an online platform, so hackers use this to their advantage. Decentralized exchange or cold wallet is not easy to hack except there is a lead to the wallet information.

Ekim22

newbie

Activity: 132

Merit: 0

There are some many hackers now we need to double secure our wallet,those hackers do anything to hack your wallet and get your bitcoin.

feehannah

jr. member

Activity: 192

Merit: 3

We are in modern generation with modern and high technology plus the knowledge of the people that's why hacking bitcoin is not possible. But you can make your bitcoin secured just keep your password and private key safe that nobody knows but only you,don't share it to others. Then don't put all your bitcoins in just one wallet.

Phlaser

newbie

Activity: 257

Merit: 0

At the current moment, hacking the blockchain technology itself it's impossible BUT does not rule out the fact that it can't be done in the nearest future.

The security offered by the blockchain technology is second to none and I hope more advancement and improvement in the technology to give it a good edge to witstand whatever challenges (as per hacking) that may want to surface in the nearest future.

Topic: Hacking Bitcoin,How Possible? - page 4. (Read 2403 times)