Is Bitcoin really secure? - page 46.

member

Activity: 231

Merit: 10

Quote from: Aveatrex on August 16, 2017, 09:27:57 PM

Hello pals,
Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers

There are difference between security of bitcoin blockchain and security of our personal wallets. The blockchain is secure as solid as long as no person finds a way to penetrates the SHA-256 hash function. In the other face of the story, when it comes to personal wallets, it can be stolen in a different ways, and exchanges can also be hacked and it is not that secure.

BTCerm

newbie

Activity: 79

Merit: 0

It is very safe, if you follow some basic security practices. Keep your keys secret, back them up (preferably in offline storage / paper wallet / hardware wallet), don’t keep all your money in a single wallet, keep all transactions within the blockchain, use multiple signatures in organizations in order to ensure a single person cannot compromise the funds, and have a plan to ensure that relatives can retrieve the money in the event of your death. Blockchain technologies may well replace many centralized models that are currently used, while volatility in the BTC price provides challenges and opportunities. Bitcoin technology is not anonymous to organizations with enough resources to determine how funds initially entered or exited the Bitcoin network.

CryptoCop47

newbie

Activity: 1

Merit: 0

Bitcoin is the future. Believe on that

Cryptron

newbie

Activity: 53

Merit: 0

Yes, Bitcoin is secure if you are not careless on giving details to others. Bitcoin trading sites and wallets has a two factor authentication where user is allow to enable or not. When you enable that feature, when you log in it will send a code to your email address that you will need to copy and enter it to the code box for you to access it.

Arsenio Aileen

newbie

Activity: 18

Merit: 0

Hello , too

it really really secure and good for us..
iall their system was very good..
if couldn't make transaction without pin and have to use regular and legal bank with your real name

1BTC EQUALS 1CAR

full member

Activity: 602

Merit: 100

On the technical part, yes. Unhackable, no double spending and etc. But on the user/investor/holder part, it's not safe. You still need to use internet to use it and we all known that internet is one of the major tools for hackers.

vjocha

newbie

Activity: 28

Merit: 0

Currently, bitcoin has become a very safe comparison. But there is no guarantee that a super genius can find a gap in the bitcoin. Digital money is much better than the traditional currency. So I am also very optimistic about digital money, then I joined Bitcoin.

dinah29

member

Activity: 102

Merit: 10

Yes, The bitcoin digital currency is the most secure, If you want to make you bitcoin more secure you must put your password and private key and choosing the best wallet, Remember,Do not share your password and private key to anyone.

JehanleMauvais

newbie

Activity: 17

Merit: 0

I would have to say if it hasn't been properly hacked yet there is a good chance it is pretty much safe. You will still encounter potential hacking of wallets but I'm not sure of the block chain as a whole.

kcirnhoj15

jr. member

Activity: 84

Merit: 2

Bitcoin is secured ! Let me remind you that bitcoin is created to keep anonymous all the transaction and it is decentralized so no banks can record all the transaction. I guess some people who developed your bitcoin wallet is the one who handle all of your transaction.

uray

hero member

Activity: 1400

Merit: 505

Quote from: msrandom90 on January 21, 2018, 12:35:58 PM

I think Bitcoin is not safe, because in my country Bitcoin is banned by the government, if they detect that Bitcoin users in their country will be fined or detained in a detention facility for a certain period of time

Bitcoin is banned in your country means that it is not safe Cheesy

which country you are from to begin with and how can you relate that with the security level of bitcoin ,so dealing with bitcoin will put you in a jail for a certain period of time,under what law you will be detained,money laundering ? .

9emb3lelit3

jr. member

Activity: 207

Merit: 2

whether it is safe or not depends on us by ourselves. so also in this bitcoin, as long as we use it well and keep it well, it will safe the bitcoin.

ross09

full member

Activity: 202

Merit: 102

Quote from: _MrTuyul404 on August 16, 2017, 09:39:50 PM

Yes bitcoin is really secure. no one can steal bitcoin, except for our own carelessness.

The government can not be that easy to ban bitcoin transactions, because bitcoin is the future.

I do not think it is 100% secured ...unlike banking if you loose your card with money on it (debit card) or even bankbook..you have the option to call the bank cancel the card or block the passbool or anything related to the one you lost ....but in bitcoin or other digital currencies in just only one wrong click..you migth lose all your money in your wallet and you will never get it back again..so how will others says that bitcoin is secure..but I am not discouraging people to do bitcoin there is just always negative side of every story and positive side as well..just be carefull and be mindful that you need to secure all your password key code.etc of your coin wallet so you can avoid such lost...

freshm4ker

sr. member

Activity: 726

Merit: 251

Bitcoin is not fully assured. No one knows how things will work in the future. Like the government, we already know what can be done. It always makes laws especially if it benefits them to get funds from people. The hackers are currently very active in your bitcoin, if you are not careful in securing the bitcoin wallet you have. You may be sorry if your account gets hacked to find out all your bitcoins are all gone.

siddu1

full member

Activity: 274

Merit: 100

Yes dude.Bitcoin is 100 percentage secure.No one can hack it or do any scam with the users.If you do any foolish work like telling your password to others and so on then your bitcoin can be hacked but then it would be a exceptional matter.But if you follow all the terms and coditions to make your bitcoin secure then your bitcoin will be safe forever.

msrandom90

newbie

Activity: 274

Merit: 0

Quote from: Aveatrex on August 16, 2017, 09:27:57 PM

Hello pals,
Recently I introduced Bitcoin and cryptocurrency to my friends and family,they liked the concept but they asked me a question that I wasn't able to answer.Is Bitcoin really secure?What if a hacker was able to hack Bitcoin system/blockchain?Who manages Bitcoin security and what are the security measures taken to avoid hackers being able to steal Bitcoins?Why Bitcoin is not blocked for those who use it illegally by buying/selling in the deepweb market?What if governements ban Bitcoin because of these people?
I really appreciate if you guys give me some answers

I think Bitcoin is not safe, because in my country Bitcoin is banned by the government, if they detect that Bitcoin users in their country will be fined or detained in a detention facility for a certain period of time

abhishek_bittu

member

Activity: 111

Merit: 10

If you're worried about someone hacking your wallet, the underlying cryptography for Bitcoin has been studied in detail, and is believed by experts to be secure. Assuming that you choose a strong password for your wallet, your Bitcoins should be safe from theft.

I also am fairly confident that some type of cryptocurrency will become widely used in the future, since it offers unique and useful features. But there is the possibility that some other currency will be developed that is superior.

SiOmnesEgoNon

member

Activity: 98

Merit: 10

All depends on us, if we arbitrarily create a password would be easy to guess the hackers. Bitcoin is kept anywhere safe as long as we activate the security features and certainly use the original identity so that if there is an easy problem to claim.

Godric-Gryffindor

member

Activity: 319

Merit: 11

I share the same experience only I explain it with the help of our modern technology we call internet, I think all of us heard this quote, “everything on the Internet is hackable” which is very scary, good thing bitcoin wallet is available in many forms i.e web wallet (which I don't really recommend) and hard wallet, I still use exchange bitcoin wallet but only for that day. Bitcoin is really not secure but if you have enough common sense to make it secure then great.

ronremsey25

full member

Activity: 161

Merit: 101

AI SOLUTION TO VOLATILITY IN YOUR CRYPTO SAVINGS

Bitcoin is secure that the fact you need a wallet for it to access that will require you your email and your own password for the wallet. In accessing the wallet aside from a password a code will be sent to your number or your email address. Since your using email address your can also turn on its two factor authentication that will send a code in your registered number in the email, it will add more security in your account. Just be sure you don't use passwords that are easily to guess like your birthday, your number or alike.

Topic: Is Bitcoin really secure? - page 46. (Read 21626 times)