Is Bitcoin as safe as its believers say? - page 2.

Distinctin

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Quote from: Reatim on June 12, 2021, 01:06:50 AM

Quote from: Roy Asher on June 08, 2021, 04:52:12 AM

Does the U.S. Department of Justice's recovery of the Bitcoin ransom mean that Bitcoin and even blockchain security have fallen off the altar?

the US DOJ does not disclose how they manage to recover the Ransom bitcoin meaning the possibilities of them having either conversation being tracked or they have insider can happen.

Bitcoin is still safe but the way you put this thread proves that you are not a Bitcoin believer and you only posts this to spread FUD.

We are free to express our opinion, any negative thoughts on bitcoin, I will not right away conclude that it's a FUD as I'm a believer that in order for the community to progress, we need to listen to everyone's opinion, whether bad or good about bitcoin and we have to educate them the right thing.

Reatim

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Quote from: Roy Asher on June 08, 2021, 04:52:12 AM

Does the U.S. Department of Justice's recovery of the Bitcoin ransom mean that Bitcoin and even blockchain security have fallen off the altar?

the US DOJ does not disclose how they manage to recover the Ransom bitcoin meaning the possibilities of them having either conversation being tracked or they have insider can happen.

Bitcoin is still safe but the way you put this thread proves that you are not a Bitcoin believer and you only posts this to spread FUD.

TOM Bb

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Yes it is. Compared with legal currency, Bitcoin does not have a centralized issuer, but is generated by the calculation of network nodes. Anyone can participate in the manufacture of Bitcoin, and it can be circulated all over the world, and it can be on any computer connected to the Internet. In trading, no matter where you are, anyone can mine, buy, sell, or collect bitcoin, and outsiders cannot identify the user's identity information during the transaction. On January 5, 2009, Bitcoin, which is not controlled by the central bank or any financial institution, was born. Bitcoin is a kind of digital currency, which is composed of a string of complex codes generated by a computer. New Bitcoins are manufactured through a preset program.

CryptoStar19

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Quote from: Roy Asher on June 08, 2021, 04:52:12 AM

Does the U.S. Department of Justice's recovery of the Bitcoin ransom mean that Bitcoin and even blockchain security have fallen off the altar?

This just FUD. The only thing that could potentially be compromising to bitcoin in terms of hacking it is the advent of quantum computing, but by the time quantum computers are a household item, surely the security measures in bitcoin and the like would have caught up to them.

verita1

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When I read comments on Twitter from people who were doubting Bitcoin, I couldn't believe it. I quickly thought that I should look up the source to make sure what people were talking about. It was bad news towards Bitcoin one after another and I found the most sensible and accurate as this tweet from Adam Back.

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#Bitcoin was NOT hacked
No bitcoin wallet was hacked, nor is even known to be possible. Ransom hackers used a rented cloud server. FBI got a subpoena and took control of it and recovered coins. That's it.

https://twitter.com/adam3us/status/1402179970277982210?s=19

Xinarae*

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The security of the cryptocurrency bitcoin is very strong due to the security of cryptography. It is completely impossible to break the security of the bitcoin network due to the use of bitcoin mining in other words bitcoin itself is unlikely to be hacked but for some other reason the security of bitcoin's storage came to the fore the bitcoin user may forget his password because the private key is too large it is not possible to recover bitcoin in any way. And the only way is to write down the password or save it properly bitcoin investing is much safer if you do not share personal information with anyone.

Emmychris

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In terms of security we can say bitcoin and blockchain are really safe, because their security system are very strong and can't be hacked except the private keys are being shared or misplaced, but in terms of investment! We all know that the market price is volatile which means it's also risky, so to be on the safer side all you got to do is invest with caution and try as much as possible to grab much information and knowledge about crypto because it will really help alot in the crypto space. So it could be said bitcoin is safe in terms of security.

oemar bakrie

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from the current phenomenon because bitcoin has matched real money we use for payments or transactions for purchases, therefore automatically security is more sophisticated, but it's not as safe as cash that we use everyday..

cabron

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FBI cracking FUD was already debunked which the FBI actually asked the court to access the file server of the exchange to access the hacker's BTC. It's over no one can crack BTC, they would have to crack every single machine connected to its blockchain before they could which is close to impossible. The believer says YES. They may try ETH or other crypto but not BTC.

If they could really do it, they should first try the wallets that have a bigger amount of BTC than the hackers that only have 65+ BTC.

Prettyjing34

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Yes, the security of Bitcoin is well known. It has its own anonymity and protects the transactions made by users. His strong technical support gives him his own reserve force, which almost no one can tamper with.

Hamphser

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Quote from: Shenzou on June 09, 2021, 05:20:47 PM

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

Should really be verified first before making any sentiments which arent actually true because this would really result into a FUD but the truth is when you do know on what the actual thing happened then you would find out that this doesnt talk particularly about bruteforcing a certain address.

It is just the keys had been retrieved out no matter what kind of hacking or methods that they do used.It is just people do make out some false news
for public to believe on that it did really happen.

There's no way you can retrieve out coins as long those keys are kept out of sight on others peoples awareness.

Shasha80

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Quote from: Obito on June 09, 2021, 12:32:20 AM

Definitely, the only reason it gets compromised is because the people that are hodling them are really lousy with their security and they are not cautious when clicking links online that could lead to malwares.

As long as we don't have the knowledge about how to use Bitcoin properly, then there will always be opinions that Bitcoin is not safe to use.
As you said very many people especially newbie, not be careful when doing online activities. Such as the intention to click on the link is not careful,
which eventually leads to malware. Before we want to access the address of the exchange or wallet site to be able to make Bitcoin transactions,
make sure the link we are going to click is correct. We have to be careful in this online world, where many scammers and hackers are roaming around.

LUCKMCFLY

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I think it is a very elegant way of doing FUD, but above all this FUD there are also investors who come out to make statements, who even regret not having bought much cheaper, in this case we have the example of Marc Lasry, co-founder and director Executive of Avenue Capital Group, in which in 2018 he did not invest as much as he wanted and now he regrets:

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In a Tuesday interview with CNBC’s Squawk Box, Lasry said that while the price of Bitcoin (BTC) could go anywhere from $20,000 to $100,000, the market has been established, implying it is unlikely to go to zero. The billionaire commented that his 2018 prediction that BTC would reach $40,000 was based on institutional investors driving interest.

“Once a market is created, it’s there,” said Lasry. "The probability as more and more people keep using Bitcoin, it’s going to keep moving up. It's happened a little bit quicker than I thought it would.”

He added:

“I should have bought a lot more — that was my mistake.”

Source: https://cointelegraph.com/news/i-should-have-bought-a-lot-more-laments-billionaire-investor-on-bitcoin

Now the US if you try to do more FUD I think this will get interesting, because the believers, whales and Btc defenders could get into action.

Distinctin

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Quote from: Shenzou on June 09, 2021, 05:20:47 PM

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

It is a sort of evidence and the authorities will have to take it and brings it to court. This could be the worse scenario as everything that you have will be confiscated even it was no used for illegal activities. Anyway, we really don't know what is the problem with that person. We never know why the government sued him and get the hard drive.

But this is not the way we think that Bitcoin is not safe, it was just the person who holds has done something not acceptable to the government or he violated the law.

Kasabus

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Quote from: Shenzou on June 09, 2021, 05:20:47 PM

The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

Everyone has kept an eye on bitcoin so bitcoin user should always be extra careful in doing all his transactions and should always secure his private keys all the time.

The government has always bad to say when it comes to bitcoin and this is the reason why they are not yet legalizing and adopt bitcoin as a currency. Bitcoin will always be safe unless someone manage to steal from it from the owner and used as a means for illegal things.

Shenzou

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The private keys that were taken by the Department of Justice were taken from the guy's hard disk and he was using coinbase, so that goes to show you how naive some poeple can be, if you are doing something illeagal you probably should be more carfull where you put your money and how to secure it, peopel are making such a thing out of this and blaming bitcoin and thinking that blockchain can be hacked and intercepted by goivernmmnet agencies when its literly the guy who owns the key's fault for not securing it.

angrynerd88

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BTC is now a subject and need concentration to understand it.Everyone has own perspective about Bitcoin,Some take it as an asset and some as medium of exchange and some as a tender but i think its all about in BTC.Btc give protection not at all like fiat that requires kyc but still individuals do not get frightened of utilizing fiat, at that point why would you think btc isn't secure.Main reason of BTC is to believe blindly is that BTC is decentralized.

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Quote from: maxreish on June 09, 2021, 06:11:50 AM

People are just over reacting about the issue. Its still vague and still no recent explanation about FBI actions. And they have protocols to be followed. Its indeed reasonable to act that way like cracking their server. Afterall, they are just getting that from the hackers.

They will just take action once there is a report, that was their job. What they have done was to believe to have a reason and if that has proven that it runs illegally, their Bitcoin must be confiscated otherwise, it will still use for illegal activities again.

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Safe? Its all about tight security system or where to put that private key not to be seen if someone try to crack over your files ot server.

It guaranteed safe if we know how to manage our keys/password. It is to find risk saving our keys in our laptop/PC especially when we are not the one who uses it coz that will be one factor that hackers could track our key/passwords.

Lorence.xD

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I do think it's safe and the believers are right, and they aren't just any believers that doesn't know a shit, they are developers and programmers that have tried to break bitcoin but they didn't find any weakness in it so I guess I will probably take their word more than your stupid claims.

maxreish

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People are just over reacting about the issue. Its still vague and still no recent explanation about FBI actions. And they have protocols to be followed. Its indeed reasonable to act that way like cracking their server. Afterall, they are just getting that from the hackers.

Safe? Its all about tight security system or where to put that private key not to be seen if someone try to crack over your files ot server.

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