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Author Topic: Can fake bitcoins be created?  (Read 3112 times)
moooonu
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May 18, 2017, 02:40:47 AM
 #1

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

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May 18, 2017, 02:51:33 AM
 #2

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

it's pretty much totally impossible. to duplicate coins, or create new ones that aren't a part of the regular system would require overcoming the encryption and cryptography involved. it would require more computing power than has ever existed, combined and multiplied a hundred times over.

technically it's possible to spend coins to two different addresses at once. it's known as a double spend. but to DO it requires the blockchain to be split and overwritten by another branch. you'd need more computing power to do it than 51% of the network.

so, NO. no bitcoins cannot be duplicated or forged.

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May 18, 2017, 03:03:23 AM
 #3

Bitcoins don't actually exist.

Therefore, there is nothing to duplicate.

Since there is nothing to duplicate, it is not possible to duplicate it.

You might as well be asking if it is possible to duplicate an unicorn.

Sure, you can draw a picture of a unicorn, or you can strap a dildo to the forehead of a horse, but it isn't really a unicorn, is it?  That's because unicorns don't actually exist.

Or are you talking about duplicating the Bitcoin Protocol?  If that's what you mean, then it's already been done.  Many times.  The majority of altcoins are just duplicates of the Bitcoin Protocol (perhaps with a bit of tweaking of parameters here or there).

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May 18, 2017, 03:21:06 AM
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It is possible if you can do a 51% attack on the network. I can see some people can use OP's question to argue against Bitcoin Unlimited's move to fork Bitcoin fork it and all the coins mined then are "fake" Bitcoins.

Please do not do that. Both Segwit and BU have their pros and cons. We as a community need to stop finger pointing and trolling.

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May 18, 2017, 03:28:53 AM
 #5

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

This is the beauty of bitcoin. Each transaction builds on previously generated outputs, ensuring that the money is legit from transaction to transaction. We are talking about information here, not substance, so it's the secrecy of the information that important. Easy to duplicate a thing; much harder to duplicate a unique idea (your priv key) given the nature of the beast. Also, the trustless nature of bitcoin helps combat fraud; the people of bitcoin are pretty shitty sometimes, but the protocol is beyond reproach Wink  bitcoin is a Mexican standoff with money.

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May 18, 2017, 03:30:11 AM
 #6

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

Simple answer to this is  No, Bitcoins cannot be duplicated. You need a whole block chain to run bitcoins and no one can create another duplicate blockchain.

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May 18, 2017, 03:39:00 AM
 #7

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?
It's impossible to make counterfeit Bitcoins, at least that I know of, since there's a system (that's explained in better detail in the white paper) that prevents such a thing from happening, and having transactions be confirmed is how they prevent double-spends which mimic counterfeit Bitcoin spending, however they never truly enter circulation.
Aside from that, there is no way to create fake Bitcoins and there will never be a way to do this without forking from the main chain.

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May 18, 2017, 03:45:34 AM
 #8

nothing impossible in this world dude  Smiley

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May 18, 2017, 03:51:41 AM
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I think it would be hard to fake bitcoin because bitcoin is intangible? Unlike cash which we know how it shaped, bitcoin is more like abstract. It will be such a hard work to duplicate it i think, if it is possible to do so though. Well nothing is impossible so if maybe there's someone freakingly genius and can find a way to duplicate it? though i'm quite sure it won't ever happen.

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May 18, 2017, 03:53:16 AM
 #10

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

The simple answer is No. You cannot duplicate Bitcoins, never heard some one did or got away doing it. Why do you think Bitcoins are special, they can't be duplicated and honestly it will take a mammoth effort to even attempt that kind of stuff but only to fail. I don't really know why would you even want to consider duplicate Bitcoins, I do hope your intentions are pure and not to do something stupid against the community.

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May 18, 2017, 03:53:58 AM
 #11

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?

Simple answer to this is  No, Bitcoins cannot be duplicated. You need a whole block chain to run bitcoins and no one can create another duplicate blockchain.

I have heard of a few people falling for the testnet Bitcoin trick, but you would have to be pretty new/ dumb to take the bait, it's not as easy even to check the testnet blockchain (most btc resources point to the legit chain). And, I guess that's fraud moreso than duplication/currency creation. But in a nutshell, to reiterate, no.

davis196
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May 18, 2017, 05:00:26 AM
 #12

nothing impossible in this world dude  Smiley

Tht`s right.If some hacker somehow manage to create fake bitcoins and the market knows about that,the next day btc price will be close to 0 USD and that hacker will make a few hundred bucks or even less.
Nobody is that dumb...

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May 18, 2017, 05:31:33 AM
 #13

nothing impossible in this world dude  Smiley

Tht`s right.If some hacker somehow manage to create fake bitcoins and the market knows about that,the next day btc price will be close to 0 USD and that hacker will make a few hundred bucks or even less.
Nobody is that dumb...


Hackers cannot hack a protocol on say 5000 nodes at once, and then add code that might generate extra coins. This will be immediately picked up by tech savvy people around the world. The Blockchain are being monitored by 1000's of people on a daily basis.

The Bitcoin generators you see on Youtube is a scam and has nothing to do with the real Bitcoin code or the Blockchain.

moooonu
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May 18, 2017, 05:37:15 AM
 #14

nothing impossible in this world dude  Smiley

Tht`s right.If some hacker somehow manage to create fake bitcoins and the market knows about that,the next day btc price will be close to 0 USD and that hacker will make a few hundred bucks or even less.
Nobody is that dumb...


What if they are already making and nobody knows about it. Is it possible to have a loop hole/backdoor in blockchain from where they are taking out/pushing in their coins and nobody knows about it?

salmanahmedone
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May 18, 2017, 05:41:34 AM
 #15

nothing impossible in this world dude  Smiley

Tht`s right.If some hacker somehow manage to create fake bitcoins and the market knows about that,the next day btc price will be close to 0 USD and that hacker will make a few hundred bucks or even less.
Nobody is that dumb...


Hackers cannot hack a protocol on say 5000 nodes at once, and then add code that might generate extra coins. This will be immediately picked up by tech savvy people around the world. The Blockchain are being monitored by 1000's of people on a daily basis.

The Bitcoin generators you see on Youtube is a scam and has nothing to do with the real Bitcoin code or the Blockchain.

Yes thats the difference between paper currency and digital currency. You can print a fake paper note and fool few people but for fake bitcoins to be working you need to fool the whole world, not possible.

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May 18, 2017, 05:53:31 AM
 #16

Hmm! I imagine how this could be done. is it the figure that will be fake or the site?
As far as I'm concerned its impossible.
you can use a fake device, but you will make the real coin.

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May 18, 2017, 06:22:29 AM
 #17

As we all know that everything have a blueprint. It's not that much difficult to make fake money if you have blueprints(in case of real cash). I was wondering if anyone found blueprints(algorithm/code) of bitcoins.

Is it possible to duplicate bitcoins?
One user did manage to find a bug in the bitcoin code back in 2010 that allowed him to create a transaction that created 184,467,440,737.09551616 bitcoins.
Have a look at these link:
https://en.bitcoin.it/wiki/Value_overflow_incident

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May 18, 2017, 06:49:35 AM
 #18

In my opinion it is possible, do not underestimate human brain our brain evolves time to time. The only thing that's impossible to create is world peace.

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May 18, 2017, 06:58:58 AM
 #19

A very similar thread has been posted here:

https://bitcointalk.org/index.php?topic=1921517

And regarding the topic, I am not 100% sure. But I believe that right now, it is impossible to create fake Bitcoins, as they can only be mined according to the Satoshi's logarithm.

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May 18, 2017, 07:28:32 AM
 #20

I think this is already been discuss many times before and bitcoins is created 2009 and now its 2017 but there are still no can created a fake bitcoin i was thinking for this before but no can create or faking bitcoin or even you made a fake bitcoin but you can't send them to the real bitcoin wallet address.
So i think its impossible to make a fake one. except if the whole network was hack the same happen in ethereum before..

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