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Author Topic: Can fake bitcoins be created?  (Read 11668 times)
Oralmat
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May 18, 2017, 08:34:29 AM
 #21

I don't think that it is possible. it is same like that someone ask us, can anyone hack the gambling sites, and than majority persons said that it is impossible, and few members said that may be it is possible, So same like this, some people think that not possible and some people think that may be it is possible but it is hard.
In my view, think positively than everything will be fine.
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May 18, 2017, 08:45:49 AM
 #22

I don't think that it is possible. it is same like that someone ask us, can anyone hack the gambling sites, and than majority persons said that it is impossible, and few members said that may be it is possible, So same like this, some people think that not possible and some people think that may be it is possible but it is hard.
In my view, think positively than everything will be fine.
i don't think that is impossible too because bitcoin is not a paper money that you can duplicate it and change it into a fake money to fake people to accept it. this is the greatness of bitcoin you can't actually hack it easily like banks, gambling site, and accounts.

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May 18, 2017, 09:03:37 AM
 #23

I know about fake Bitcoin transactions but I know miners exist to stop any illegal coin being generated 100 blocks is required for every block reward to be spendable so even you generate fake coins you'll need 100 confirms, last time something similar happened it got rejected after 3 seconds by the network(miners-nodes).
There was a fake transaction generator on GitHub and still is but you'll have to compile yourself.
The very first time I heard about Bitcoin and it's 21M limit I had the idea about how they managed to keep the 21M intact.

When new coins are generated the miner who found the block then provides to the public a proof of his work and every body can repeat the process with same nonce and merkle root to know if that miner really did work for it by hashing power.

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May 18, 2017, 09:53:51 AM
 #24

Bitcoins is not a paper money that it can easily turn it into a fake money and it is very impossible to do such a thing because i know that hackers cannot hack bitcoin very easily so it's hard to duplicate bitcoin and put it on your wallet.

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May 18, 2017, 10:09:34 AM
 #25

I don't think that it is possible. it is same like that someone ask us, can anyone hack the gambling sites, and than majority persons said that it is impossible, and few members said that may be it is possible, So same like this, some people think that not possible and some people think that may be it is possible but it is hard.
In my view, think positively than everything will be fine.
i don't think that is impossible too because bitcoin is not a paper money that you can duplicate it and change it into a fake money to fake people to accept it. this is the greatness of bitcoin you can't actually hack it easily like banks, gambling site, and accounts.

That's true and you can't just compare the fiat system like duplicating it since it is a far more different story than it should be. And the developers are not reckless enough in handling this thing which really has an actual value in real life like its equivalent into a real money so they surely set up a lot of program or something like that and a strong one really so it is really hard and impossible to hack and you can add up that it is decentralize which also contribute to its security so no one can really get hold the system really and use it or change it like as you wanted.

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May 18, 2017, 11:01:05 AM
 #26

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.

 i agree with you.. i think if people will really have the desire to more or less copy what bitcoin has, then it will be possible. there are so many things that can be created by the people. and considering this, maybe someone will create a fake bitcoin. no one knows.

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May 18, 2017, 12:25:23 PM
 #27

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?

"double spend attack" is how you could make fake bitcoins. A group or individual would need 51% of the total hashing power in the bitcoin network, whenever a pool gets close there is a call for miners to leave that pool
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May 18, 2017, 12:47:34 PM
 #28

I think yes bitcoin can be created as fake. Because there is no personal or legal informations on gaining bitcoin so it is easily to be corrupted , to be created and to be used by anyone so there is a huge possibilities that people may create bitcoin even though they are not applicable on creating it. There would be greedy people that will try to do it.
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May 18, 2017, 01:46:47 PM
 #29

I think yes bitcoin can be created as fake.
wtf answer is that. they can't duplicate bitcoin like cash that can be counterfeited. bitcoin is made im sha 256 encryption we know that, sha 256 encryption can't be cracked by today's technology it will take trillion years for you to able crack a sha 256 encrytion so, duplicating counterfeit bitcoin will be impossible for now, maybe in future where quantum computers are built.

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May 18, 2017, 02:12:06 PM
 #30

It is written that to insert fake bitcoin into the blockchain, you need to have greater hashing power than the legit miners. It is like a race between legitimate blocks and fake blocks to get confirmed and included in the blockchain. So as long as legit miners have greater hashing power, it is impossible for attackers to insert fake bitcoin.

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May 18, 2017, 02:13:22 PM
 #31

Obviously this time bitcoin cannot be duplicated, unless it's made into another version like bitcoin unlimited, it needs perfect coding to make bitcoin duplicate and even this becomes very unlikely. The best way is just to make coin competitors in form of alternative coin with all new system and contract.

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May 18, 2017, 02:26:10 PM
 #32

Bitcoin is digital money and it doesn't has phisical form, so it's just impossible to print it's copy. But I suppose that we may call altcoins as bitcoin's copies. Why not? They all were made on bitcoin's basis and follow the same targets. Don't you agree?
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May 18, 2017, 11:53:26 PM
 #33

I guess it is really impossible we know that the bitcoin have a really big price in its head almost 10b just to hack it but no one can so there are some sort of code that cannot be hack and obviously also you cannot be copy but there others do they do a copy of bitcoin and we have altcoins.


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May 19, 2017, 12:55:32 AM
 #34

If you are sure about somebody or a transaction, please get help before you invest.

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May 19, 2017, 01:12:24 AM
 #35

Is it possible to duplicate bitcoins?
if by fake you mean a copycat type of bitcoin technically yes and it will be called an altcoin but if you going to use the same algorithm used by bitcoin

then they won't be fake, they will be as good as mined bitcoins
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May 19, 2017, 01:26:02 AM
 #36

There can be fake bitcoins, but it won't be real bitcoins, they can create an altcoin with a similar name like b1tc0in, but it won't be deposit at your bitcoin wallet address, it's impossible.
I can't imagine anyone being scammed this way... It won't be showed as a bitcoin transaction, you can spot it very easily, don't worry about this possibility.

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May 19, 2017, 01:32:57 AM
 #37

If fake bitcoins can be made what will happen in the future?

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May 19, 2017, 01:34:08 AM
 #38

You can't just simply duplicate something that is not there you to overcome the encryption and algorithm being use you need lots of computing power to just do that
But even if you have successfully do that the bitcoin you've mined is not bitcoin because it has a different algorithm, a good example is BU coins or BTX what ever they call it.

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Russlenat
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🌟 eSports ICO: 01/11/2017 🌟


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May 19, 2017, 01:39:59 AM
 #39

For me I think this not gonna happen.
Bitcoin already secure it's own network and preventing that to happen.
I think if its created it will be another coin name and not bitcoin.

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daringdiscovered
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May 19, 2017, 02:12:37 AM
 #40

I don't think so, because it is not that easy to copy or imitate the codes of bitcoin, and no one could copy it since bitcoin network is decentralized that is why it is untouchable, maybe the only thing that is possible is if they are going to make another coin that could surpass the superiority of bitcoin.

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