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
The underlying technology of BTC and every crypto is blockchain technology. The blockchain is a digital ledger that is distributed on thousands of computers globally. Technically it's not possible to hack anything from blockchain nor you can write any forge transaction to the blockchain, BTC proof-of-work consensus algorithm ensures that only legitimate transaction goes over the blockchain.
The only way you lose your BTC is by losing your private key or if hacker successfully breaches into your digital wallet.