Is it possible to clone or copy coin 1:1

[kiddcode]

I was asking myself if it is possible to clone a coin 1:1, mine a lot of coins and sell them as real coins

For example i copy the sourcecode of SC nd mine those coins on my Laptop, since Im the only 1 mining this (clone, copy) Iit would be easy to mine lots of them

What mechanism prevents that from happening??

We all know the Federal reserve Bank has the right to print Dollars and in the Bitcoin System everyone can mine Bitcoin but what stops me -besides the knowledge- from cloning those coins and kind of faking them

Has anyone ever tried that??

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[ranochigo]

It is impossible to do so. To mine Bitcoin, you need to generate a block, include the block rewards, transaction and the transaction fees. Only if the transaction fees and block rewards tally up, nodes will accept it. Otherwise, it is considered as a invalid block and gets rejected by the nodes. For example, you cannot create a block that has 100.05BTC amount in coinbase transaction when the total fees paid in the block is 1BTC while the block reward is 25BTC. To get the 25BTC, the block must be valid and propagated around the network.

Every time a block is mined, the nodes verifies it and remove the transaction in the block from their mempool and put the UXTOs created from the new transactions into their list. This includes the coinbase transaction(includes block reward and fees). When a transaction gets relayed to a node, the node checks the inputs in the transaction with their UXTO list. If it does not exist and/or the signature is invalid, the node will simply not relay it at all. Too many invalid transactions and the node will disconnect from you.

[ca333]

I was asking myself if it is possible to clone a coin 1:1, mine a lot of coins and sell them as real coins

For example i copy the sourcecode of SC nd mine those coins on my Laptop, since Im the only 1 mining this (clone, copy) Iit would be easy to mine lots of them

What mechanism prevents that from happening??

We all know the Federal reserve Bank has the right to print Dollars and in the Bitcoin System everyone can mine Bitcoin but what stops me -besides the knowledge- from cloning those coins and kind of faking them

Has anyone ever tried that??

you could do so. you could copy any coin (with same specs, gensis and merkleroot), start a little network which is NOT connected to origin network, you could mine a ton of that coins. But in the moment when you connect "your" copied network to the origin (public) network all your blocks will be invalid. Remember that a decentralized blockchain network is cryptographically validated (merkle-based) on base of ECDSA.

So this means all the coins you mined in "your" network never existed in the legacy blockchain, never got confirmed and never will exist there... They will only be invalidated when you connect to the network. If you hardcode your checkpoints based on your "copy"-network, then you will continue to exist on a "fork" of the blockchain.

So with the acutal hardware technologies available to us it is not possible to "fake" coins (practically). Theoretically and with unlimited hashingpower not.

[criptix]

You should start again at learning what a blockchain is!

[Syke]

What mechanism prevents that from happening??

Maths.

[Decoded]

You won't be able to, as you'll have to replicate the whole block chain, along with it's addresses and send times for it to match. Which in theory, is impossible.

[marcuslong]

I think it is possible if you can copy what the creators do in creating it. But if you cant it is impossible. I think many bitcoin user do that before but they cant because it is so hard to do. And if you do that theres a possibility that the price of bitcoin will dump. Goodluck if you can do that clone to coin.

[2c0de]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

[cr1776]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Nonsense in Bitcoin.

[shinohai]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Is it just me or does this place just seem to be a magnet for retards and spammers that know jack shit about Bitcoin now?

[mki8]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Is it just me or does this place just seem to be a magnet for retards and spammers that know jack shit about Bitcoin now?

YEP,

so much dribble in these forums
people doing signature ad campaigns
just reply with dribble on every thread
site owners not care, if they stop the ad campaigners they will lose all their site traffic

there is one user that has an ignore list of all ad campaigners
if you copy his ignore list to yours
so you dont see all the ad campaigners
you will see how empty the forum is
only problem is you still need to scroll through pages of blank comments so it doesnt really help

[shinohai]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Is it just me or does this place just seem to be a magnet for retards and spammers that know jack shit about Bitcoin now?

YEP,

so much dribble in these forums
people doing signature ad campaigns
just reply with dribble on every thread
site owners not care, if they stop the ad campaigners they will lose all their site traffic

there is one user that has an ignore list of all ad campaigners
if you copy his ignore list to yours
so you dont see all the ad campaigners
you will see how empty the forum is
only problem is you still need to scroll through pages of blank comments so it doesnt really help

More or less why I stopped coming here. The Signal/Noise ratio is comparable to reddit now, which is just junk posts and links to clickbait spam.

[ca333]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Is it just me or does this place just seem to be a magnet for retards and spammers that know jack shit about Bitcoin now?

reading some of the statements above i can not believe its serious. I think just some trolling... But if that is really serious than i have no words to add here...

[Nevis]

Yeah! It's possible. Because internet is easy to make a coins.

[Ethey]

I think only if you got over 50% of the network and more

[ranochigo]

I think only if you got over 50% of the network and more

If you get above 50% of the network, you can actually double spend coins since you can restructure the chain faster and mine blocks than anyone else on the network. However, you can never clone or get more than the block reward and the transaction fees included in the block. I doubt anyone would be so stupid to execute a 51% attack if their intention is to profit.

[pandalion98]

I was asking myself if it is possible to clone a coin 1:1, mine a lot of coins and sell them as real coins

For example i copy the sourcecode of SC nd mine those coins on my Laptop, since Im the only 1 mining this (clone, copy) Iit would be easy to mine lots of them

What mechanism prevents that from happening??

We all know the Federal reserve Bank has the right to print Dollars and in the Bitcoin System everyone can mine Bitcoin but what stops me -besides the knowledge- from cloning those coins and kind of faking them

Has anyone ever tried that??

No, since you would be starting a new blockchain.

Blocks are stacked one after another, and the newest block depends on the older blocks for validity.
If you were to create new blocks on your rogue chain, it would simply be denied since the your block does not match the previous block on the main chain.

[Valzador]

I was asking myself if it is possible to clone a coin 1:1, mine a lot of coins and sell them as real coins

For example i copy the sourcecode of SC nd mine those coins on my Laptop, since Im the only 1 mining this (clone, copy) Iit would be easy to mine lots of them

What mechanism prevents that from happening??

We all know the Federal reserve Bank has the right to print Dollars and in the Bitcoin System everyone can mine Bitcoin but what stops me -besides the knowledge- from cloning those coins and kind of faking them

Has anyone ever tried that??

Basically, if you were to make your own 1:1 coin either:

1. You would connect to the real chain and it wouldn't really be a clone.

2. You could remove the nodes and start your own chain but you couldn't get back into the real chain because:

a. Your blocks wouldn't match the existing blocks
b. You are the only one who's mining these clone blocks and all the other nodes aren't verifying them, therefore the other nodes overrule  you and your client deletes all your blocks and makes your coins unusable.

[mki8]

Yes it's possible look at Dogecoin it is cloned from Bitcoins, so when you copy it you get a different digital coin also called Altcoin.

EDIT: Another thing, you can copy your wallet.dat This way you obtain more Bitcoins, many people got rich using this simple steps.

Is it just me or does this place just seem to be a magnet for retards and spammers that know jack shit about Bitcoin now?

Yes Bitcointalk.org is now just filled with dribble from signature ad campaigners
mostly kiddies trying to earn a few satoshi for hours of typing dribble

i wonder when bitcointalk.org realizes its not good for the forum in long run
and it does not help bitcoin at all having forums full of dribble posted by idiots that dont know much about anything

[mki8]

I was asking myself if it is possible to clone a coin 1:1, mine a lot of coins and sell them as real coins

For example i copy the sourcecode of SC nd mine those coins on my Laptop, since Im the only 1 mining this (clone, copy) Iit would be easy to mine lots of them

What mechanism prevents that from happening??

We all know the Federal reserve Bank has the right to print Dollars and in the Bitcoin System everyone can mine Bitcoin but what stops me -besides the knowledge- from cloning those coins and kind of faking them

Has anyone ever tried that??

Its Easy
all you do is get 2 trezors,
and some double end usb leads
so you can get power to trzeors and connect them together
then you just copy the coins to 2nd trezor giving you double

Just like you would with VHS recorders