Bitcoin Forum

you cant fake fiat currency and if you do you got problems with law.
how we know the btc and crypto is not faked...it means the creators can create any ammount of crypto as they want as there is no law to legit forces to check over btc and crypto creators

This is one of the main reasons mining and the chain of blocks exists. The history of Bitcoin's blockchain is theoretically immutable, as in any little mistake you make now through BTC (like exposing your real identity) might affect the entire immutable history of yours.

Bitcoin's creator is Satoshi Nakamoto, and he does not own any kind of decisional power in the coin's governance. In fact, there is no central governance - it's a decentralized network. The network stays up at all times specifically due to the fact that there are people using it and helping it grow: full nodes, miners and users.

You may be interested in reading a bit about block rewards (https://www.investopedia.com/terms/b/block-reward.asp). This is how coins are being generated and introduced into circulation as a reward for miners. Unlike many of the centralized altcoins, Bitcoin's inflation rate is precise and gets cut in half every 4 years.

Besides maths and coding, there are no laws we need in order to protect ourselves from counterfeited coins. Welcome to the magic of programming. :)

I'm impressed you have 200+ posts on this forum and you haven't understood the basics of bitcoin.

First of all there are no creators, only one. The man behind bitcoin (https://satoshi.nakamotoinstitute.org) is the only one that created it and then left. The "creators" you are referring to must be the developers that check and update the code or the people that own bitcoin.org.

The reason they can't do that is because of the blockchain's rules. People, including developers, can't born bitcoins out of nowhere because all the nodes have to accept that the block was mined properly with the analogous proof of work. Inside the open source program, the code says clearly that only if the block's hash is below a target value, the computer will accept it. Otherwise, it will reject it. Imagine now, that if we have 10,000 of computers that will receive a random block hash, I just created, that generates a million bitcoins, they will reject it. If they receive a block's hash that is below the target value, they will all accept it, but I'm following the rules. In order to broadcast a block hash below the target I need CPU power. The more CPU power, the more possibilities I have to find a block hash below the target.

Thus, we've succeeded a payment system that computers accept the mathematical proof instead of trusting few developers that will decide when and where the money will be distributed. Consider reading this, it will clarify some things to you: learnmeabitcoin.com (https://learnmeabitcoin.com/)

P.S, @20kevin20, you kept me ahead  :P

Be deceiving yourself, or maybe you need correction, well that is why you bring it up here. In fiats, people spend fake money, I was given one some days ago, that is why physical fiats can be fake. Unlike bitcoin, only 21 million bitcoin is existing, in a way no new ones can be created except the 21 million, nothing like spending fake bitcoin, it is not possible because no fake bitcoin is existing.

I think you don't know how blockchain technology works. Bitcoin is a product of blockchain technology. Created by blocks. The creator Satoshi Nakamoto can't control it or use it for him self. Also you can't fake bitcoin. If it is possible than we could see many more bitcoin in the market. But the answer is no you can't fake BTC like fiat.

It is relatively easy to produce counterfeit fiat currencies than it is to fake bitcoin or any other cryptocurrency in general. Due to bitcoin's open-source code, people can manually check whether there had been some alterations on some crucial parts of the program, and if there is, the network would immediately react for a fix. There were a few incidents wherein bitcoin's hardcoded limit were changed momentarily and abused by people. It didn't last long, and soft forks were already coming an hour or two after the said change in the code.

Until now, existing coins cannot be faked, because they have a smart contract that cannot be manipulated, of course this is something different from fiat currency, because the printing method is very vulnerable to being faked.

This is of course very different from more specific digital currencies when we discuss the blockchain system and others.

if the btc is really fake proof and the way how you all say here then the btc is best thing in the world after gold to be honest and its like beautiful master piece of the finest  art work.

but.....is ethereum same fakeproof as bitcoin? :)

The supply of cryptocurrencies is backed by consensus algorithms so that no one user can simply generate it. To do so would require a 51% attack and this is incredibly expensive to execute on the main coins. Also even in such an event, users can fork onto a new chain and deem that one as the legitimate one.

Here is more about the Bitcoin supply:
https://en.bitcoin.it/wiki/Controlled_supply

]

There are measures in place for this, and one of them is called 'proof of work'. This is to say that on the blockchain a miner needs to have a 'code' if you want to call it that which proves his addition of the block to the blockchain. Since, the consensus is that once blocks are added to the blockchain these are immutable one in theory can't fraud any parts of the block to say they mined it as they one won't have proof of that block and second they can't delete it in an attempt to fabricate the proof of work.

Additionally, all of this is on the network and can be accessed by pretty much anybody, and so because this can be checked, it acts as a counter-check against false crypto assets (which you can think of them in terms of blocks).

Thus in theory any attempt of illegitimate crypto mining or crypto coin/token won't be allowed or permitted on the network (unless, somehow, maybe ??? they'll be tweaks to the smart contracts but this I'm not sure is possible)

That's an absurd question.

Bitcoin cannot be faked. There's only one chain where bitcoin is running and the faked bitcoins that you probably are thinking are those bitcoin forks.

This is wrong.

If you go turn in on some articles, news or videos, search and you'll get to see how many frauds including fake cash were used by sindicates.

Wow so many experts here ? :)
How do you know about BTC so much?  
what is the main source of knowledge?
are you guys all programmers and it tech guys? ::)

Blockchain technology can't be tampered with and it's more transparent than any other technology we have. The use of blockchain transaction confirmations ensures that blocks and transactions are recorded in the blockchain ledger.
Bitcoin is mined using the POW method based on miners. They are creating bitcoin and it has real value. Bitcoin cannot be tampered with, it's transparent on the blockchain.

No, you can't create fake bitcoin. There will be only 21 million BTC in total and all of them are fixed (like- imagine all of the bitcoin has a number and everyone knows the number) so, bitcoin can't be faked. Someone may create fake bitcoin but the due to being decentralized network, there will be no chance for them to use the fake bitcoin. On the other hand, fake notes are being still used. In fact, it's one of the biggest industry in crime world.

Perhaps, there are teams who audit smart contracts of different projects especially their own cryptocurrency. In this way, it could prove the legitimacy of the cryptocurrency such as if it has the capability to be minted or the total supply is fixed. But I can say, you cannot make a fake cryptocurrency such as those that exist on the contract address of a legit one. You can fake a crypto by creating your own currency with your own contract address. But that was just on the ethereum blockchain. There will be more complex procedures when we talk about this in terms of other blockchains.

For bitcoin? I doubt that you can fake it, but for the rest of the Altcoins, they can't create enormous supply, and that's why others point out the market capitalisation is not a good gauge because they can artificially inflate it. There are projects that hire third party to audit their smart contracts, but still it is not an assurance that everything will look good in paper.

The age where only those in that field knows knowledge about it is already over man. Anyone can be knowledgeable in different fields as long as you give time in studying it, there's a vast amount of resources available on the internet, and if that isn't enough, you can freely ask people on the know on various forums. They may or may not be saying the truth, but it's not like you're asking only for an opinion of one person, nor are you stupid enough to actually accept whatever opinion comes your way, that's why you have your own brain, to understand things yourself.

google is a thing, using your brain is also another. Might as well use it lest yours degrade into nothingness.

No, you are wrong. You can "fake"/counterfeit fiat currency with ease. It is just that if "you" get caught, you will get into problems. If its smaller amount of bills, highly likely people won't check and will getaway with it. But that is not the case with bitcoin or other crypto currencies (currencies which are legit. Not those shit coins). You can't create "fake" bitcoin. Even the creators of bitcoin can't create "any amount" of coins. As long as the coin is completely decentralized, the protocol can't be changed without majority of people supporting it. You should learn about how crypto currencies and blockchain works :).

We are not an expert, but we spend time to learn more to get more lesson. We learn from many sources, especially from this forum, because you can find so many lessons from other people, giving you more info. The main source of knowledge is how you can have a passion for learning, and you can spend your time searching for more details. Some of us know about programming, while others know other fields, but we want to learn something.

I don't understand if that is a typo error or he really meant it.
Like "You cannot fake fiat because you will be arrested." I think that is the synonym of what he is trying to tell. I hope.  :D

Oh please. What are you now? Top Cryptocurrencies hater?  ::)
I guess this is the reason why Satoshi left everything for the users.
You have all the answers above this reply, try to marinate them in your brain first.

Counterfeit is a crime. Which country do you live in that you say you get in no such problems? I am sure a lot of money launderers are willing to know that. ;D

The system by which new coins are minted is mining and to do that they need to do some "work" - that work is equivalent to solving a complex math problem presented to the device which is mining. That determines the difficulty of the blockchain which varies with more devices entering the pool or leaving the pool in order to balance the flow of new coins.

That is the only way a coin can be minted into the supply. Although I am not that tech oriented about this, there might be some verification methods to ensure integrity as well.

You might want to leave crypto as it is if you are getting suspicious of everything. Doubt is something that is detrimental in case you want to invest in any of these coins.

faking everything is against the law and there are corresponding penalties for that .

for fiat , there are cases on the past in which bad guys print fake fiat money  . some got caught while some are still going because they target stores or people that are less knowledgeable when it comes to checking the currency if its fake or not , that was also the time where money detector got indemand .

for btc , it cant be fake because theres only one known btc and it cant be duplicated but some coins that have btc on thier names does not mean fake  . theres so many ways to check them and we can do something to prevent or stop them without the government or law involved .

In fact, bitcoin is more counterfeit resistant than any fiat money issued by governments. Counterfeiting is very interesting topic to discuss, especially because of the fact that it can be done legally and illegally. We are all aware that illegal counterfeiting is against the law and must be punished, but not many people actually realize that the system of money we have today is essentially legal counterfeiting. Governments and central banks are counterfeiting money every time they create "new money", inflation and debasement of money are no other than legal counterfeiting. Money is being created out of thin air, it has no intrinsic value, it is not backed by anything. Unlike gold, for example, that is almost impossible to copy and counterfeit, paper money and digital numbers can be easily printed. Bitcoin can be counterfeited neither legally nor illegally.

Yes, you will know if BTC  and crypto is fake because their are many scammers all over the world looking for people to scam. If really you are BTC and crypto users Know how you would not identify real BTC and crypto in the market.

I think there is a law governing BTC and crypto which only 12.5 Bitcoin can be mined every 10 minutes. Also there can only be 21 million Bitcoin in existence. As you can have problem with illegal  Fiat money according to law likewise bitcoin and crypto also have their own law guarding them too.

I don't get it with the story of bitcoin being fake. You can only have fake currency in cash when dubious people try to make such fake of their local fiat and which is an offence that can get the person into problem. As for the bitcoin, it is not to be faked except you are being deceived.

There is nothing we can do with fiat money (dollars) which has complete control over currency warfare in the world. When Bitcoin emerged with the simple goal of eliminating third parties as facilitators of transactions, the World was jolted because it was the first time anyone opposed fiat domination with a system separate from the existing fiat network and even recognized as being more powerful and more up to date.

We need to remember as long as money in any form, internationally recognized currency & cryptocurrency, if it is used as a commodity and traded, there will always be opportunities for manipulation and monopoly from the parties who determine (price maker) in the trade.

This forum itself is the main source of knowledge but that is not the only thing. We must know how to use this forum to grow our knowledge more.
This forum has so much of information already that we don't have the need to look for anything anywhere.
Also, being a programmer would be a benefit, we don't have to be a programmer to know about bitcoin. We can know about bitcoin just by reading the articles which are already present on this forum.

He didn't addressed any correction for that.

But if we'll depend to only those words, it's very easy to say that faking fiat is happening. And if what you have explained is what he meant, then that's right. That syndicates or any individual that conducts frauding with fiat will surely get caught and will have their jail time.

I'm not a programmer but if bitcoin is very much easy to be faked, there has been a lot of it but can't be named the same as bitcoin. They're using forks for it to copy.

With blockchain technology it does not allow Bitcoin to be counterfeited, in contrast to fiat which is very easy to fake.
Or it's easier if you search on google, I've never found an article that says Bitcoin has been faked. Very different from
fiat, you will find dozens of articles from all over the country related to fiat. So in my opinion it is impossible for Bitcoin
to be counterfeited, even though I am not a programmer, but I took the time to learn how the blockchain technology
that Bitcoin uses today. So you can understand that Bitcoin is impossible to counterfeit.

From this useful post (https://bitcointalk.org/index.php?topic=5280853.msg55340545#msg55340545)
This is what miners use to contribute to Bitcoin's blockchain network. We all will not be able to manipulate the chains the miners have created. The data is clear, so there will be no momentum to commit fraud.
In contrast to FIAT, which uses paper media to make it. Not everyone has a better understanding of real or fake money. Because the physicality of an object can be copied by anyone who has the intention to duplicate it

You are a trusted person 100% in LocalBitcoin yet asking this question?

and also creating many threads that can show your activities and knowledge abount cryptocurrencies here

https://bitcointalk.org/index.php?action=profile;threads;u=2835857;sa=showPosts

Shows that you are only trolling here and not really Noob about what you wanted to portray .

Bitcoin can't be faked but you have to understand one thing. The word "crypto" includes Bitcoin because it is a cryptocurrency but it is something very different and very similar too. In a way, you put bitcoin in the same category with every other cryptocurrency with your above sentence. This is a common mistake many people do.

First of all, Bitcoin can't be faked. I don't know if other cryptocurrencies can. Bitcoin is supported by a community that is at least ten times better from the rest cryptocurrencies. When you say the word "crypto" most people that have some experience don't like that for many reasons. This word was created to reduce Bitcoin and to expose it to the many weaknesses of the altcoin industry, weaknesses that Bitcoin doesn't have on its own. The code is there it is open source and Bitcoin doesn't have anyone to steer the wheel left or right, but it is the decision of all that paves the way.

"Crypto" is a marketing term and not welcome to use next to Bitcoin because of the many fallacies in the approach of altcoins. At least you separated BTC and crypto in your post so you are on the right path.

To understand how Bitcoin works read the whitepaper  (https://bitcoin.org/bitcoin.pdf), written by Satoshi Nakamoto and released in 2008. This is where you must start. The next step is the bitcointalk forum and you are already here but you skipped the step of researching how Bitcoin works. Don't worry most of us have done the same mistake but after some time comes the realization that we have to start again from the beginning.

Perhaps you can also watch a few very educational videos created by some very brilliant people of Bitcoin as Andreas Antonopoulos to get educated further. The bitcointalk forum is excellent for your education on Bitcoin and it has helped me and keeps helping people with expanding their knowledge.

BTC is not that easy to fake especially that it has only a limited supply and it is monitored.

Compared to fiat currency that doesn't undergo any process when making transactions.

It is really hard to fake something that is in a digital form, especially money, it has regulators and platforms that are really secured and strict when being accessed. Also paper money are easy to fake because it is not that hard to replicate one when you have the tools. Blockchain technology is really our future, it is much secure and much well-regulated.

LOL are serious?
You want to know if we could fake BTC? Then the answer is yes there are already fake BTC circulating around and claiming to be the real BTC.
But it is not like how it is done in Fiat that they are very similar here in crypto the fake BTC have name extensions  :D .

In fact, it's easier to counterfeit fiat currency than counterfeit bitcoin, and counterfeiting money costs the world economy billions of dollars.
Up to now I have never seen any fake bitcoins appear, but I have met a lot of counterfeit money in real life. That said, bitcoins cannot be counterfeited and fiat currencies are easy to counterfeit.

I think you misunderstood how those limited supply stated in coinmarketcap means. And though there is no law about these cryptocurrency supplies but creators should not recreate more of those. I wonder how'd you say btc and otber crypto coins are possibly faked. There is a "mining" proccess for those coins to br existed.

the trust score dont mean i can undestood how the eaxcly the btc is working!!

im not a einstein not satoashi i really dont know about blockchain and bitcoin that much!

limited supply is not really factor to drive price up and gives legimatly the main reason for currency or asset is how much its needed !
right now it seems btc is needed.

bitcoin is a cryptography-based virtual currency.  bitcoin cannot be counterfeit, but Bitcoin technology which is based on blockchain technology provides an attractive option for cybercriminals.  With the operation of Bitcoin as a decentralized currency, people can make transactions without intermediaries such as banks or other financial institutions.  without intermediaries this allows Bitcoin users to gain anonymity and an impenetrable level of confidentiality from third party interference.  and in 2015 the founder of Silk Road, an underground digital marketing platform that facilitates the sale of illegal drugs, was sentenced to life in prison for transacting $ 1 billion in bitcoin.

I think fiat currency can be counterfeited by people who want to make a profit by counterfeiting fiat, but if it is seen or discovered by the law then you are right it will be dealing with the law, but for BTC and crypto in my opinion it cannot be counterfeited because of Btc and crypto not printed or manufactured like fiat. I am confused by what you are saying that Btc crypto can be forged, I think you should delve a little deeper to understand how Bitcoin is made and other cryptos.

One of the advantages of Bitcoin compared to fiat currency, because it is impossible for Bitcoin to be counterfeited. Because Bitcoin
with blockchain technology makes Bitcoin transactions transparent, transactions can be tracked. This is one of the reasons why Bitcoin
cannot be counterfeited. Meanwhile, fiat currency is very easy to counterfeit, i even read some news related fiat which is faked with
just regular printers. This gave me goosebumps, because I was sure the number of counterfeit fiat circulating in the world must be enormous.
So actually using Bitcoin is safer than using fiat currency, but the majority of people are not ready to accept Bitcoin as a means of payment.

If you look closely at the definition of counterfeit, you will probably notice and come to conclusion that fake bitcoins should not necessarily be "forged" on original blockchain, they merely need to look almost identical to the original bitcoin. Those counterfeit bitcoins can be run as forks of bitcoin or on completely different blockchains, they can use the same abbreviation and symbols, etc. Counterfeiters can use misleading website domains to attract more users and make them buy their fake bitcoin. Bitcoin(.)com is a great example of counterfeiting original bitcoin. So, bitcoin can be easily counterfeited but that trick does work only with inexperienced and careless users. For others, more experienced users, it is usually a trivial task to check the authenticity of bitcoin and the authenticity of information about it.

I don't know much about Bitcoin, I can only understand a small part, but I think Bitcoin is made not easy to counterfeit, if Bitcoin can be counterfeited maybe the price is not this high, and everyone believes there are only 21 million Bitcoin

As for Bitcoin, everything is thought out and reliable. Although there are cases in cryptocurrency, like tether when the number of coins can be increased in any amount. And this moment should be alarming. There are many discussions around the tether, you can study the information on the forum if you wish. As for bitcoin, I will repeat myself, but here everything is stable in terms of quantity.

The reason it's called cryptocurrency is that cryptography is used to prevent such thing from happening. You should review Bitcoin basics, especially Satoshi's white paper. You'll understand how bitcoin works and how double spending and/or forgery is almost impossible. It all has to do with blockchain's structure. (If I'm referencing it properly)

If that was possible don’t you think that a lot of bad people would have been attempting to do it?

Faking of currency is not a new thing, and people have been doing it for a long time and it happens where I live , when you go to a store to buy some stuff and pay them, they lift the money to check whether it’s a counterfeit or not, sometimes it’s funny to me but I wouldn’t blame people, they are doing what they have to do.

Apart from the time that Bitcoin had some kind of fault that made the amount of BTC to increase, which we know it was quickly fixed, I haven’t seen any other issue that comes close to this.

by fake you means creating copy of bitcoin or spending same coin more than once.
I bitcoin network once you send a transaction it takes some time to process, so suppose you send 2-3 transaction of 1 btc while your balance is just 1 btc only. Then any random node will process one and reject others. Similarly all other nodes will remove all those from their memory. So mathematically it is no possible to copy the transaction which we call as double spend.

Regarding supply, it has fixed supply and codes are publicly shown. So it is the currency which has no printer like native currency of many countries.

Bitcoin is not fake; it's a profitable currency. You can see this big community is based on bitcoin currency.
You can first understand blockchain technology, bitcoin is a blockchain product, and you have to learn first about it.

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On the top, it's uncontrollable. Even the owner of bitcoins creator can not control or stop it.
Bitcoin can never consider as fake, but most of the scammer uses it for scam and make it unfamous.