Quote from: freightjoe on November 21, 2017, 10:10:46 AM

Many say that Bitcoin is the safest way to hold value because Bitcoin cannot be hacked. But for many users that is not true.

It depends on how you look at it. Think about this first:

I sell you a door with a lock that genuinely cannot be opened by a thief. I now say that no-one can rob your house.

Of course it is true that no-one can open your door, but it is not true that the house cannot be robbed. The thief can smash the window, pick your pocket when you are on the street, trick his way into your house and so on and so on.

In Bitcoin many believe that because the Bitcoin ledger itself cannot be hacked, their money is safe. That is why they say Bitcoin cannot be hacked.

But it is actually quite easy to steal people's Bitcoin by hacking their wallets, stealing their passwords, hacking into exchanges and so on and so forth. We see it every day.

When you hear "Bitcoin cannot be hacked", many take this to mean that their Bitcoin cannot be stolen.

They are not technically knowledgeable so when they hear the words "cannot be hacked" they believe it menas their money is safe. For them "Bitcoin" is the whole collection of the ledger, the wallet, the exchange, their own computer

Many have their Bitcoin stolen, and therefore for many people they have to stop believeing that Bitcoin cannot be hacked.

For most non-technically knowledable people, the true phrasing is that Bitcoin can be hacked, and is being hacked on a daily basis.

The Bitcoin actually can't be hacked, it's too hard and difficult; what hackers do is put a trojan in some junk mail which the user open, steal all the info about the wallet (address, password, etc) and transfer to 2 or 4 accounts in order to lose tracks.

This is something very common and usually, the targets are people who have a big amount of BTC in one account.