BDMD = Bitcoin deniers myths debunked
This is a series of short posts about Bitcoin myths and nocoiner fallacies, debunked or explained.
Bitcoin was hacked / will be hacked
(says the Bitcoin denier)
In the history of Bitcoin, there has never been a blockchain attack that results in money being stolen from a confirmed exit. There has also been no reported theft as a direct result of a vulnerability in the original Bitcoin client or a vulnerability in the protocol. Bitcoin is protected by standard cryptographic functions. These features have been reviewed by cryptography experts and are considered unlikely to be broken in the foreseeable future.
It's safe to say that the currency itself has never been 'hacked'. However, several major websites using the currency have been hacked, often resulting in high-profile Bitcoin thefts. Some media outlets erroneously report these heists as hacks of Bitcoin itself. An analogy: just because someone has stolen US dollars from a supermarket does not mean that the US dollar as currency has been "hacked."
Most bitcoin thefts are the result of inadequate wallet security. In response to the wave of thefts in 2011 and 2012, the community has developed risk mitigation measures, such as wallet encryption, multi-signature support, offline wallets, paper wallets, and hardware wallets. As these measures gain adoption by merchants and users, the number of thefts decreases.
Bitcoin security can be compared with the power of a Sun...
And to close, I leave here a song (the second) about the "obituary" of Bitcoin, has died so many times that the bastard still does not want to die ...
Read more FUD articles on: https://endthefud.org/