Can Bitcoin Network Be Shutdown Or Hacked?

[enwi]

Bitcoin network to my knowledge can not be hacked but a personal wallet can also be hacked, thus, this could be as a result of exposure your seed phrase to theft and if such happens they swipe off your wallet by sending out the Bitcoin Inside the wallet. Again, Bitcoin network can't be hacked but it's configured on an open network where other people can tap to the network by building their projects on the Bitcoin network, this cause network congestion or high transactions fees because there is now a competitions on the network on whom is to be given a higher priority and at the process of this you see people increasing their transaction for them to include as the higher priority. And of course, the Internet can not be shutdown for any reason or for even a day as lot could happen including affect human life.

Security within the digital environment is indeed something that must be addressed and considered a priority when in possession of cryptocurrencies. The Bitcoin network itself is actually very reliable; however, individual wallets or external applications have extra safety meant to be ensured and protected solely by the individual themselves. It is essential to secure seed phrases and other valuable information that would not make the wallet an avenue hackers would prefer to attack. Besides, there are also effects of such a use of the network where competition arises in transactions thus increasing the costs. In this kind of environment, it is thus advantageous to be in a position to understand how it works to be able to better manage the assets. It is also important to take into account the fact that the unimpeded functioning of the internet also plays a critical role in ensuring the functioning of various activities in general and, in particular, in the context of the functioning of the digital ecosystem .

[Gurujebs]

Yeah, I'm also a bit worried that the government or anyone with access to a quantum computer or any advanced tech will use it to attack Bitcoin, but I agree that we can prevent or fix it quickly as long as we're prepared.

If that would be the case, BTC wouldn't be the first target on the list, so we should be chill about it, imo.

Before the internet became a public, it was private for military for years undergoing rigorous research and improvement. If there is super computers tomorrow, Bitcoin wouldn't even be the first threat they will look into, there more sophisticated things build and own but government they will try first before they allow public to even have access to it.

Even if there is an update about super computers to tomorrow, things about it will be limited unless they know it's safe for public use to avoid abuse because not only other things will be put at risk, even the governments things might be under some risks too.

[vegasus]

Bitcoin network to my knowledge can not be hacked but a personal wallet can also be hacked, thus, this could be as a result of exposure your seed phrase to theft and if such happens they swipe off your wallet by sending out the Bitcoin Inside the wallet. A

So far, yes. However, we will not know what the future will be like if there is indeed technology that can do it and there are people who do not like BTC and want to destroy the network. However, it seems that it will not be that easy, it is more complicated than just hacking and destroying the system or blockchain. Bitcoin has been owned by many parties around the world, and we do not know who the people behind it all are. And I think they will not let that happen. Because after all, this is all related to various interests and benefits

[SmartGold01]

Bitcoin network to my knowledge can not be hacked but a personal wallet can also be hacked, thus, this could be as a result of exposure your seed phrase to theft and if such happens they swipe off your wallet by sending out the Bitcoin Inside the wallet. Again, Bitcoin network can't be hacked but it's configured on an open network where other people can tap to the network by building their projects on the Bitcoin network, this cause network congestion or high transactions fees because there is now a competitions on the network on whom is to be given a higher priority and at the process of this you see people increasing their transaction for them to include as the higher priority. And of course, the Internet can not be shutdown for any reason or for even a day as lot could happen including affect human life.

Security within the digital environment is indeed something that must be addressed and considered a priority when in possession of cryptocurrencies. The Bitcoin network itself is actually very reliable; however, individual wallets or external applications have extra safety meant to be ensured and protected solely by the individual themselves. It is essential to secure seed phrases and other valuable information that would not make the wallet an avenue hackers would prefer to attack. Besides, there are also effects of such a use of the network where competition arises in transactions thus increasing the costs. In this kind of environment, it is thus advantageous to be in a position to understand how it works to be able to better manage the assets. It is also important to take into account the fact that the unimpeded functioning of the internet also plays a critical role in ensuring the functioning of various activities in general and, in particular, in the context of the functioning of the digital ecosystem .

This is correct and I agreed with you that our wallet security solely rely on every individuals.depending on how careful they could be with their seed phrase and information, most of the common hack we do experience doesn't come that so easily without them being compromised or exposed to hackers before they could get hacked, that is why every individual most take precautions of their wallets.

[KingsDen]

Sometimes it is believed that shutting bitcoin network would require shutting down global connections such as internet or electricity as the case maybe. Also people talk about their bitcoins being hacked, does this have any effect on global chip manufacturers; What effect does it also have on the value of bitcoin network that connects people together today?
I want our humble ideas on this subject.

When people say their bitcoins were stolen as a result of hacks, they are not referring to the entire Bitcoin network being compromised. what was hacked were their individual wallets, which store the private keys controlling their bitcoin holdings. Apart from the fact that bitcoin is built on the blockchain technology and uses a very strong cryptography protection,  Bitcoin is decentralized and  controlled by lots of people all over the world. Hacking the Bitcoin network is impossible,  anyone who wishes to steal the entire bitcoins will have to hack into the wallets of everyone who own bitcoins.

[debra]

Bitcoin network cannot be hacked, it will be extremely difficult to hacked bitcoin network or shut it down, because it is decentralized and it is not own by any single entity or governments, it is well designed and the transactions are secure, and it also contains or have security threats that will be use to safeguard the Bitcoin network to prevent the attackers from getting access to the network.

Network surely cannot be hacked, but the people who use the network can be decreasing due to many reasons. If there is bad news on the network, people can be afraid to use the network. They can change to another network and they forget the previous network. Luckily, Bitcoin network has been used by too many people around the world. And many of them believe at all with Bitcoin network. So, it seems like no chance for the people to leave Bitcoin network.

[JorvikCoin]

Bitcoin can't be easily to shut down or hacked because it is decentralized and secured by thousands of nodes worldwide. Even if some nodes go offline, the network keeps running. Hacking it would require impossible computing power making it the most secure financial system I trust.

[tequilla_sunset]

Bitcoin can't be easily to shut down or hacked because it is decentralized and secured by thousands of nodes worldwide. Even if some nodes go offline, the network keeps running. Hacking it would require impossible computing power making it the most secure financial system I trust.

Only if the whole infrastructure (the Internet) goes down, then BTC would be dead, and even then, there would be alternatives to keep it alive.

It's an apocalyptic scenario, but still.

[KincaidT]

Bitcoin can't be easily to shut down or hacked because it is decentralized and secured by thousands of nodes worldwide. Even if some nodes go offline, the network keeps running. Hacking it would require impossible computing power making it the most secure financial system I trust.

Only if the whole infrastructure (the Internet) goes down, then BTC would be dead, and even then, there would be alternatives to keep it alive.

It's an apocalyptic scenario, but still.

That's a good point. Even if the internet went down, alternative methods like mesh networks, satellite connections or offline transactions could keep bitcoin alive. While it would be a major challenge, the decentralized nature of bitcoin means it is designed to be resilient.