Is Bitcoin really secure? - page 91.

Fasdartin

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Quote from: iluvpie60 on November 06, 2017, 04:18:21 PM

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

If someone wanted to hack bitcoin the only thing they can do is take the coins from the last few blocks that they previously spent. Later there will be an attack on the anyone can spend vulnerabilty of segwit though. That will happen years from now when there is a lot of BTC that have used segwit transactions.

A miner who is big enough can do these things, and so far almost nobody has ever done it because it would go against them and drop the bitcoin price. But years from now when there are millions of BTC in segwit anyone can spend transcations, I am sure miners will attack it then.

https://bitcoincore.org/en/2016/10/28/segwit-costs/#avoidance-2

I think bitcoin is really safe when you have wallet to secure your collect coin. And i'll know it safe because they still use bitcoin even though have read some bad news to it. Through the year bitcoin is become popular and growing.

acheampong64

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Oh yeah yeah yeah..Bitcoin is very secure..you can do a little research about the inception of bitcoin and you will realize how amazingly it has survived and become successful to the extant that other cryptocurrencies are getting grounds to stand on...But one thing you should be aware of is that it can become very insecure if you get careless..you will just lose your coins if you dont take care..and you might think bitcoin is insecure.

Paranuatu

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Bitcoin is very secure against counterfeiting (it is impossible to counterfeit bitcoins because thats the very idea, it is alwayzs verified by thousands of users), but not secure against stealing, and even if your coins get stolen, they are almost impossible to retreive, law enforcement will not interveine, and very rarely do courts bring anyone to justice. Several precautions need to be taken, sometimes expensive wallets.

Mikwik

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It's all depends on what platform we choose to invest and
how we handle our capital when we see the profit, how we manage to hold the profits and grab our investment back safe

ankorustoken

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Bitcoin is totally secured but you need to adopt a few things like using a complex password, not using your credentials that can be guessed as password, using 2FA, using hardware wallet and most importantly, never gossip about your BTC with anybody.

mitha rosdiana

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I think safe, bitcoin safe and there are facts, before getting bitcoin, you must have a wallet, the wallet itself is generated through code, and you need to enter a password, pin, or passphrase for you only. to access your wallet. The wallet itself is encrypted which gives you security, so you have little food to store in your wallet, you also need a password or access to send your bitcoin, also your chipoid has its own algorithm, hackers will have difficulty to do so. and make sure your wallet is safe, do not give important information to your wallet and keep it where you keep your coin, whether it be a desktop wallet or a ledger, do not be careless and rash.

Bakemat

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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

Hi mam/sir . everything you must take a risk. Really a bitcoin is have a secure if youre password is too strojg and difficult to manipulate and hack. For me it is really secured because first you only yourself access your account there's no one. And no one can see this. All you need to do is set ttrong password to can't hack your account

|Bitkoin|

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Bitcoin is really secure because of the amount of proof of work that has been performed on the network. Known as hashing, computers with high amounts of computer power solve algorithms that offer a reward to the computer which solves it by performing proof of work on it. There are, and have been huge computer farms hashing for BTC for many years.

iluvpie60

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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

If someone wanted to hack bitcoin the only thing they can do is take the coins from the last few blocks that they previously spent. Later there will be an attack on the anyone can spend vulnerabilty of segwit though. That will happen years from now when there is a lot of BTC that have used segwit transactions.

A miner who is big enough can do these things, and so far almost nobody has ever done it because it would go against them and drop the bitcoin price. But years from now when there are millions of BTC in segwit anyone can spend transcations, I am sure miners will attack it then.

https://bitcoincore.org/en/2016/10/28/segwit-costs/#avoidance-2

xBitHodler

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Yes, Bitcoin is secure. Storing Bitcoin by yourself is way safer than fiat in banks. Offline wallets are the safest way to store your bitcoins because your private keys are never exposed to your computer. Bitcoin transaction are also irreversible and it's almost impossible to guess someone's private key. The same thing goes for the seed.

dhas

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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

As far as I know bitcoin is really secure and legit. I'm just new here and I dont experience and trouble with it. Maybe if there are victims hacker it is the result of their carelessness because they dont keep their bitcoin personally. Bitcoins is an investment so you must need to be sure that your wallet or other information relating to BTC should be protected.

Alfinopogi

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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 think yes bitcoin is really secure but You need to backup your wallet on a regular basis to make sure that all recent Bitcoin change addresses and all new Bitcoin addresses you created are included in your backup. However, all applications will be soon using wallets that only need to be backed up once.

onifla

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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 think yes because Bitcoin makes it possible to transfer value anywhere in a very easy way and it allows you to be in control of your money. Such great features also come with great security concerns. At the same time, Bitcoin can provide very high levels of security if used correctly. Always remember that it is your responsibility to adopt good practices in order to protect your money.

sclmte

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I can say yes it is secure. As long as you Dont let anyone know all your private information its all secure. But if you are so careless, then might someone can hacked your wallet account or whatsoever. We need to be more responsible for all our actions, just to keep all our information secure.

Gens09

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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 believe btc is secured because the money here is real big their system is handle with care and if btc is not secured maybe this is not continuing right now. if your account was hacked it's already your fault because you didn't take care of it or you are careless in handling your account. it was blocked by using it legally I believe that this system was used for good market not for doing bad thing.

cybersofts

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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 was designed to be secure to the level where no one can hack the bitcoin network and steal bitcoins.
Bitcoin developers are the ones responsible for maintaining and updating the bitcoin core and security issues too.
Government can never ban bitcoin the way you are thinking because bitcoin doesn't have servers like facebook or amazon.
Bitcoin network is peer-to-peer, so no can shut it down because the network is run by thousands of computers around the world.
That is why no country has the power to shutdown bitcoin or bitcoin network. And for criminals they using more anonymous currencies now such as Dash, and ZCash.

wolfracer

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There you have a sample of it, its security is such that neither the government can intervene in such matters, they only restrict.

staceyoh

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For me bitcoin is is really secured, you just need to be carefull so that your bitcoin will become more secure.

FasTroy

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Quote from: Geemy on November 04, 2017, 05:01:36 PM

i think it's very secured , and SHA-256 it's very good to encrypted .

You are right, I believe too much in the security of bitcoin, because i know that this technology it's too strong, I don't say that's it's impossible to hack, but it's too strong. So, I think that it's secure to use bitcoin and invest in bitcoin, You should just be careful and save your private keys.

mammoniter

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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

There wouldn't been a lot of demands and investors if not. Aside from that a lot of companies and services adapting to bitcoin as their mode of payment or currency although there are always potential threat of hackers and phishing sites which are most likely security threats due to negligence. Most threats to bitcoins are just when you are not careful enough to protect your account privacy. In terms of usage illegally I think it is not enough to block it because every known currency is being used illegally so it wouldn't help crime prevention to block bitcoin.

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