Is Bitcoin really secure? - page 88.

alexzorgo

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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

Resistance of bitcoin to the hacker attacks is determined by safety of technology of blockchain. As the technology is based on the decentralized distributed register of transactions that to hack system blockchain at this level of development of computer systems and current value of bitcoin very difficult and is economically unprofitable. But in the future with the advent of quantum technologies the current level of safety of blockchain will be possible to be overcome rather easily.

Edrian

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Yes, I think bitcoin is secure but the question is does your wallet have strong security? if not then your bitcoin is not safe. I believe bitcoin is safe because lots of billionaires invest in bitcoin, It can be hacked but you need a very good hacker to hack bitcoin. I think the real threat in bitcoin is the scammers
you should be very careful with the people you deal with don't put so much trust in the people you don't know do some research first before doing any transactions. To become more secured you should change your email password or any password you have to add additional security to your account.

Larva14

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Quote from: Irdina on August 16, 2017, 10:44:20 PM

Bitcoin security depends on ourselves,So we must always be vigilant in keeping our account so hackers do not steal it, my friend there who lost bitcoin it all because of carelessness, so the point is safe bitcoin as long as we are good at keeping.

If you want to make your bitcoin more secure you must keep it in a safe place where you're the only one who knows it. In addition to that, you must keep your private key in a safe place and put 2fa to make your wallet more secure and do not ever share it to anyone. Lastly, be careful in some phishing sites.

mark_salcedo618

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Yes its secure. Once a hacker/s gets in to the system, he/she or might as well saying they will be having difficulty on accessing one's account for they have to access all account in the blockchain system for it is decentralized. But there will be possibility that you will be hacked when you entrust your personal account or even forgot to log out. So I suggest be careful to whom you trust and where you logged in and make sure you log out.

Lasvista

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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 can only say yes the bitcoin is secure at these times. During these times, it is difficult to open because the programs are beautiful and orderly. Program that keeps secure and full of security. Accounts are difficult to handle due to the latest security features attached to it. While it takes longer to make it beautiful and savory use.

Qartersa

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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

Let me answer you based on my experience:

1) It is secure as long as you do not leave your Bitcoin wallet unattended, meaning, you make sure it is password protected. There can hardly be any hackers because the system is in tact and you are in control of your own Bitcoins. Otherwise stated, you are expected to protect your own money.

2) It does not block anybody who desires to do business with Bitcoins because it is a free market and is highly decentralized. Simply put, people are expected to manage their own affairs. It does not discriminate.

mardaed

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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

Hackers play a key role not only in crypto currency even on banking transactions.
It's all based on how secured we maintain with due care.
I use Ledger Nano s to be safe from hackers, go with this secured wallet.
Many overseas services available to send money directly to your bank.
Never save passwords and such digitalized.
Also maintain complete dual authentication while opting wallet.
Ensure you built a strong passwords with characters, numbers and symbols.
Bitcoin may fall down sometimes but it will not be collapsed, you can trust investing on bitcoin, it is the master of cryoto currency.

Christian13

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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 agree that bitcojn is really secure and no one can stealth your bitcoin. If you want to make your bitcoin more secure you must put your password and private key in a safe place. In addition to that, do not ever share you password and private key to anyone if you want to make your bitcoin secure.

Rubick99

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Bitcoin totally not secure. It's depend the owner. Maybe if you have many bitcoin, you should change your account's password. For example every a month, or every three month

Labumi

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Quote from: sandaru on November 09, 2017, 01:06:46 PM

Bitcoin is not totally secure. If you store them in an online wallet, it can sometimes be hacked and your bitcoins would be stolen. But on the other hand it's difficult for hackers to distinguish in which wallet bitcoin really has because the wallet address is changing time to time.

Indeed it is true. actually the bitcoin digital currency is the most secure and it is definitely you will end up at a huge disadvantage if it doesn't fix or make better safeguards on wallet online that we have. Because it is an online wallet has a security level which is quite vulnerable to hacking, so it should be we should be careful in our online wallet storing data. If not then the whole thing could end up at a huge loss and lose all of the funds that we have.

tharindukw96

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???If we can break SHA-2, e.g. by finding a faster way to get the right nonce than trying many of them, we can generate the blocks faster than everyone else. This would mean that we will get all of the mined coins, at first. Having a monopole, we can also effectively decide which transactions to include and which ones not (this could be a denial-of-service for competitors who want to transmit money).

But for now, no such break of SHA-2 is known. Shocked

dificanovi

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Quote from: Irdina on August 16, 2017, 10:44:20 PM

Bitcoin security depends on ourselves,So we must always be vigilant in keeping our account so hackers do not steal it, my friend there who lost bitcoin it all because of carelessness, so the point is safe bitcoin as long as we are good at keeping.

I also agree with you, depending on us who keep the bitcoin we have. do not let our wallet password in knowing others because they can break all the bitcoin we have. so basically our bitcoin will survive depends on us who take care of it.

PatyZante

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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

Bitcoin transactions are safe within the decentralized blockchain (onchain). Nobody can hack it. In terms of protecting your bitcoin from thieves, it's the same as safeguarding your debit/credit cards, passwords and PINs. You manage your own protection. The good and bad thing about bitcoin is ANYONE can use it. Many have tried banning bitcoin but people will always find a way to use it.

Ben100

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Everyone wants to be a bitcoiner and earn money online but the major question arises for being a bitcoiner is that "is bitcoin really safe". The answer is as simple as that, because it depends on user's care. The well protected and well secured account is always safe. Being a non governmental and far away from the control of governmental panel , these cryptocurrencies is rather safe and far away from the reach of hackers.

sicparvismagna

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The safety of your bitcoin accounts depends upon how you manage your bitcoin it will vary upon how you let it not be steal or get access by someone else so basically it depends upon our usage and management of it. If it will he ban by the governement then we'll have no say about it but the illegal transaction can be prevented by us cooperating to one another in order to prevent this scammers from destroy our bitcoin community.

Eureka_07

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Bitcoin is safe and secured. I think no one would try to hack bitcoin because it is more powerful than before. The only thing that can be hacked is your wallet. For example, you give your private key in myetherwallet to some stranger or let us say you misplace and forget your private key in your wallet that would be the case that it would be hacked by someone who will know your private key. If you don't feel safe in bitcoin you can double up your security for your safety. I think it is impossible for bitcoin to be hack up by someone but it is possible that scammers can have access with bitcoin. So let us just be aware of it.

ViceOfBTC21

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Yes, it's safe and secure as long as you do basic security precautions on your computer. They aren't just for bitcoiners, they are for every user of computer. Bitcoin is pretty hard to hack up but nothing is unhackable. You can make a 51% attack but it will be very expensive eg. You must spend as much money as rest of miners from the world so it will be unprofitable to do it. The P2P community maintains Bitcoin's security. Store only small amounts of BTC on networked devices and store big amounts of BTC in cold storage.

ElatedWanted

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i shared your post oldandgrey on FRESH thread, they are trying to do comparable issues, i really hope they will see possible in thisawesome function oldandgrey and kingarbinV

GreenBits

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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

the protocol isnt really in danger of being "hacked"; it can be attacked, but by design these attacks would require very large amounts of resources to carry out, and arent really feasible to do. the code is pretty secure because its been peer reviewed by a great many people. if there is a major exploit still left in there it is a gem; however we do expose ourselves a bit when we introduce new code to the protocol.

what is able to be hacked quite easily is you

much easier to use malicious code to steal your private keys, and empty your wallet. so, bitcoin isnt really all that hackable, but the people that use it are the low hanging fruit of the equation.

maihoangminh1808

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The idea that Bitcoin is safe, although it could be stolen, is like saying gold is safe, although it can be stolen. In the end, they can not be destroyed.

Topic: Is Bitcoin really secure? - page 88. (Read 21626 times)