Quote:
Originally Posted by BossChief
I’m not sure how someone could “hack bitcoin” it’s not stored in a central location and even the major exchanges store 90% in cold storage. It’s decentralized and many online wallets have been hacked, the network itself would be very close to impossible to hack.
I’m also a novice in this though and am going off everything I’ve read.
Can you elaborate on how you can see Bitcoin getting “hacked”?
Honest question, as I have a lot of my savings in bitcoin/Ethereum.
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not directed against you, but others in this thread. Info is in google. Use some Common sense and history that tells us that anything electronic that is stored electronically can be hacked. Anything.
See AustinChiefs post #38 when this thread stated back in 2013. I've already said this several times. I'm not talking about hacking the bitcoin itself just hacking where it's stored to steal it.
I was paid major $'s to architect two different blockchain models. I got on this blockchain model early. I worked as a security architect in a place with the best hackers in the world that was itself hacked 1 million times a day. I don't say this to brag but because I like you, to make it known to you that on this particular specific subject, I can speak with authority.
And I'm telling you that your money is probably safe however there are many states, groups, serious and very capable ones that on the verge of being able to hack bitcoin stores. I personally would not be staking my financial future on something that will be hacked.