how strong is bitcoin really? - page 52.

bhadz

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Quote from: harizen on September 11, 2016, 11:57:42 AM

Quote from: bhadz on September 11, 2016, 08:16:10 AM

I would say that bitcoins strength today is really great and it comes to the point that I am thinking that the price of bitcoin is going to reach the price of $1,000 before the end of the year. And I am believing that is going to happen even though there is a chance that it is not going to happen, but I believe one day it will.

All time high of bitcoin price was reached last 2013 and compare to that time today, the adoption is obviously more today than when the time the price of bitcoin reached it's ATH. So it's possible that we can reached again your desire price with the strong community we have today like you are mentioning.

Woah, thanks for the additional info mate. But I guess you are right with it. But still it is fine to think about positive thoughts about bitcoins price. And we don't know what is going to happen in the future. I will just going to keep on hoping that the price of bitcoin is going to reach that so that it is going to give me good hope.

Aamir1

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Quote from: dmarine on September 09, 2016, 08:07:53 PM

Pretty strong and persistent I would say , there where many attacks and negative criticism on bitcoin from as soon as it started until now and it had easily maintained its status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

It obviously is really strong as nothing could bring any big drop in it like other coins, whatever fluctuations happened with the time was not because of any attack or something but was just normal so it has been strong from start till now.

harizen

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Quote from: OrangeSeller on September 11, 2016, 10:15:11 AM

Quote from: Sweetbtc on September 09, 2016, 11:42:48 AM

Ok, skipping all that. The baseline wallets and software are hardcore and can be fully trusted. That is the wallet and software that are Bitcoin. There are many, many more wallets that can also be trusted, but that has nothing to do with Bitcoin itself, just like people's actions have nothing to do with the security of the system.

but wallets are still getting hacked. what you say about that? blockchain.info which is the oldest and most used bitcoin wallet hacked manytime (said by users) and other wallets also got hacked.. and lots of individual addresses got hacked..
it proves that bitcoin security is not that much strong.

Bitcoin security is not the main thing in terms of that wallet hacking. It depends on the security of the said exchange and not on the main bitcoin security itself.

You really can't consider that storing coins in a web wallet means your coins are safe. To make it really safe, one move is to stay away from using web wallets.

Quote from: bhadz on September 11, 2016, 08:16:10 AM

I would say that bitcoins strength today is really great and it comes to the point that I am thinking that the price of bitcoin is going to reach the price of $1,000 before the end of the year. And I am believing that is going to happen even though there is a chance that it is not going to happen, but I believe one day it will.

All time high of bitcoin price was reached last 2013 and compare to that time today, the adoption is obviously more today than when the time the price of bitcoin reached it's ATH. So it's possible that we can reached again your desire price with the strong community we have today like you are mentioning.

OrangeSeller

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Quote from: Sweetbtc on September 09, 2016, 11:42:48 AM

Ok, skipping all that. The baseline wallets and software are hardcore and can be fully trusted. That is the wallet and software that are Bitcoin. There are many, many more wallets that can also be trusted, but that has nothing to do with Bitcoin itself, just like people's actions have nothing to do with the security of the system.

but wallets are still getting hacked. what you say about that? blockchain.info which is the oldest and most used bitcoin wallet hacked manytime (said by users) and other wallets also got hacked.. and lots of individual addresses got hacked..
it proves that bitcoin security is not that much strong.

Universat

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Quote from: bravehearth0319 on September 11, 2016, 06:43:32 AM

Quote from: jak3 on August 27, 2016, 12:03:10 PM

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

The strong level now of bitcoin is cannot be measure. For what is happening everyday in bitcoin community its continue growing and the investors is multiplying also, that's is only shows that bitcoin is getting more stronger from time to time.

yes i am agree with you, now bitcoin has become more stable stronger as more and more people are investing in bitcoin so it becoming more and more stronger, people are really supporting bitcoin, hope it will become the world most popular currency and all the people will be using it for multiple purposes.

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Quote from: jak3 on August 27, 2016, 12:03:10 PM

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

If you change passwords often enough for your wallet it is possible then to avoid the loss of their coins, but more than once there was information that hackers can do everything, and if you have already got down to your wallet, they hacked it, as happened with Bitfinex

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Bitcoin is as strong as its community. Without a community, bitcoin won't exist. FIAT currencies are backed by their governments first, then their communities. Bitcoin has no governments. That makes is a bit vulnerable to attacks but its also bitcoin's strenght.

If the community finds a better option instead of bitcoin, bitcoin will lose value in no time. Same thing will also happen if someone manages to hack the blockchain. To me, it is not strong enough.

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Quote from: jak3 on August 27, 2016, 12:03:10 PM

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

We have already seen that our savings are not safe. For example bitfinex Exchange you can see that many people have lost their coins and none of them will not turn.

bhadz

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Quote from: bravehearth0319 on September 11, 2016, 06:43:32 AM

Quote from: jak3 on August 27, 2016, 12:03:10 PM

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

The strong level now of bitcoin is cannot be measure. For what is happening everyday in bitcoin community its continue growing and the investors is multiplying also, that's is only shows that bitcoin is getting more stronger from time to time.

I would say that bitcoins strength today is really great and it comes to the point that I am thinking that the price of bitcoin is going to reach the price of $1,000 before the end of the year. And I am believing that is going to happen even though there is a chance that it is not going to happen, but I believe one day it will.

bravehearth0319

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Quote from: jak3 on August 27, 2016, 12:03:10 PM

We know that bitcoin is strong and all the wallets have milletry grade security but one of my stupid friend today said that maybe someone can hack it with just a calculater because with math and correct formulas we can even predict gambling bets if that is possible then maybe there is any chance of this

The strong level now of bitcoin is cannot be measure. For what is happening everyday in bitcoin community its continue growing and the investors is multiplying also, that's is only shows that bitcoin is getting more stronger from time to time.

Yakamoto

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The strongest part of Bitcoin is easily its community. The security is up next, and neither of these parts seems to be crackable on the big scale. The community has effectively always been here, in some capacity, and those who are here are typically quite enthusiastic and enjoy doing things Bitcoin related. The encryption/security of Bitcoin is (if you've seen the one paragraph with an image) basically impossible to break and extremely effective for what it does, and since it hasn't been broken by now it is likely it will take a long time for it to ever even come close to being broken.

The_Dark_Knight

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Quote from: ubitcoin on September 09, 2016, 03:00:46 PM

Quote from: n691309 on September 08, 2016, 10:21:29 AM

I think that bitcoin is strong but the price crashes when the popular exchanges get hacked or a lot of bitcoin get stolen. After a while we will see that more bitcoin will be destroyed/burned and the bitcoin price will increase but in general bitcoin is innovative and the community will not let it die.

Yes, there is still bad news about bitcoin and it usually spread to the people faster than the positive news of bitcoin and there will be some people see it as something risky and dangerous. However, bitcoin is getting stronger and stronger through times and it’s drawn a lot of good attention so I’m looking forward to the bright future of bitcoin.

Bitcoin is a new technology, so there is going to be a few problems with persons getting used to bitcoin and the way you need to do in order to protect yourself

lionheart78

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bitcoin is strong. The security of bitcoin is virtually unhackable unless it is in the users ends fault. Economy is booming and the area of coverage of bitcoin is pretty wide. It is adopted in almost all country where internet connection is available. There are also lots of people who are willing to spend their money just to have a grasp of bitcoin. Technically and economically, bitcoin is strong in my opinion.

dmarine

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Pretty strong and persistent I would say , there where many attacks and negative criticism on bitcoin from as soon as it started until now and it had easily maintained its status and kept growing up until now, Bitcoin fills a need for the users and I think it would persist as long as it keeps doing that.

ubitcoin

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Quote from: n691309 on September 08, 2016, 10:21:29 AM

I think that bitcoin is strong but the price crashes when the popular exchanges get hacked or a lot of bitcoin get stolen. After a while we will see that more bitcoin will be destroyed/burned and the bitcoin price will increase but in general bitcoin is innovative and the community will not let it die.

Yes, there is still bad news about bitcoin and it usually spread to the people faster than the positive news of bitcoin and there will be some people see it as something risky and dangerous. However, bitcoin is getting stronger and stronger through times and it’s drawn a lot of good attention so I’m looking forward to the bright future of bitcoin.

noormcs5

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When you mine, you are hacking the system, there is no other way to hack other than to attack the hashes themselves and that is what you are already doing through ASIC's and pools and such. The system is solid.

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Quote from: Barbut on September 09, 2016, 12:40:56 PM

Supply and demand make bitcoins strong or weak, more involved people that use bitcoins in any way are the backbone of the bitcoin. Economy and price depends from that, and if we are strong now, in future and with more members bitcoin can become the strongest currency on earth. I'm thinking that now bitcoin is growing very fast, just in little more then a half of year, bitcoin gambling is exploding, price went almost triple more times up.
Bitcoin is very strong, soon banks, governments and everyone else will realize that they need to start to fear from bitcoins.
I regret cause I didn't found bitcoins earlier, but in some moments I understand that for many people across I'm the world I'm early adopter.

The only possible conceivable weakness is in the pwoer of hard forking and that is pretty much impossible to fake that many people into accepting a newer software version.

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Quote from: Barbut on September 09, 2016, 12:40:56 PM

Supply and demand make bitcoins strong or weak, more involved people that use bitcoins in any way are the backbone of the bitcoin. Economy and price depends from that, and if we are strong now, in future and with more members bitcoin can become the strongest currency on earth. I'm thinking that now bitcoin is growing very fast, just in little more then a half of year, bitcoin gambling is exploding, price went almost triple more times up.
Bitcoin is very strong, soon banks, governments and everyone else will realize that they need to start to fear from bitcoins.
I regret cause I didn't found bitcoins earlier, but in some moments I understand that for many people across I'm the world I'm early adopter.

I found the bitcoin in early 2013, when the price was about $100. I bought a few at the time and made some good profits.

Barbut

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Supply and demand make bitcoins strong or weak, more involved people that use bitcoins in any way are the backbone of the bitcoin. Economy and price depends from that, and if we are strong now, in future and with more members bitcoin can become the strongest currency on earth. I'm thinking that now bitcoin is growing very fast, just in little more then a half of year, bitcoin gambling is exploding, price went almost triple more times up.
Bitcoin is very strong, soon banks, governments and everyone else will realize that they need to start to fear from bitcoins.
I regret cause I didn't found bitcoins earlier, but in some moments I understand that for many people across I'm the world I'm early adopter.

Sweetbtc

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Ok, skipping all that. The baseline wallets and software are hardcore and can be fully trusted. That is the wallet and software that are Bitcoin. There are many, many more wallets that can also be trusted, but that has nothing to do with Bitcoin itself, just like people's actions have nothing to do with the security of the system.

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