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Author Topic: Can fake bitcoins be created?  (Read 11714 times)
Labay
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August 31, 2017, 04:15:57 AM
 #241

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?

bitcoin, i think bitcoin have an own capacity or number of coin so you cannot duplicate it thats why the only one can do is to rise the value of coin.

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August 31, 2017, 05:35:15 AM
 #242

I think yes!  bitcoin can fake, but it easy to determine whether a person fake their bitcoin he has  because their is a system that all bitcoin user has a record on how many bitcoin that he have.

So even bitcoin can fake maybe, but the person who can do that is easy to determine.
To be very honest, I didn't get the question. I mean what do you mean by faking something that has actually no form. If someone will make a duplicate, then he will give all the features that Bitcoins have and ultimately, it will be BTCs again. You see, features can't be faked only shapes can.

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August 31, 2017, 05:39:53 AM
 #243

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?

bitcoin, i think bitcoin have an own capacity or number of coin so you cannot duplicate it thats why the only one can do is to rise the value of coin.

bitcoin is a closed currency, the amount of money in the market is always constant. No new bitcoin coins are born. Many people think that mining is the way to make new coins, but it's a false thought.

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TheKeyLongThumbI
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September 01, 2017, 06:15:44 AM
 #244

As far as I know it's impossible. I only know one fake bitcoins when I hear it and they call it TBC.

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September 01, 2017, 06:23:57 AM
 #245

I have not heard about this before. Maybe we can create fake bitcoin, maybe not. I am not a bitcoin expert and therefore, I believe that my knowledge is not strong enough to give a good statement about this case. But, bitcoin has existed for 9 years and no one has complained about this issue.

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September 01, 2017, 11:53:54 PM
 #246

I have not heard about this before. Maybe we can create fake bitcoin, maybe not. I am not a bitcoin expert and therefore, I believe that my knowledge is not strong enough to give a good statement about this case. But, bitcoin has existed for 9 years and no one has complained about this issue.
When a copy of something is created it looks exactly the same as the original one but there is one condition, that thing must exist physically whereas digital currencies do not have any physical form. There features can be copied only and the technology, ultimately it will be again BTCs.

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September 02, 2017, 12:10:00 AM
 #247

Are some of you not aware of straight 1:1 altcoins  Wink?

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September 02, 2017, 12:12:19 AM
 #248

Are some of you not aware of straight 1:1 altcoins  Wink?

Bitcoin Cash sure smells like a fake bitcoin.
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September 02, 2017, 12:21:04 AM
 #249

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 only way to duplicate bitcoins would be by doing a double spend attack with over 51% of hashing power.

This wouldn't duplicate bitcoins though, rather it would just reverse a transaction. So a miner would send their transaction to someone and it looks real at first, they then get lucky and are able to use the 51% hashing power they have and attack the transaction to give it back to themselves.

This needs an extreme amount of luck as other miners can disrupt it and no one miner has 51% currently.



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September 02, 2017, 12:28:01 AM
 #250

I was wondering when I first read this topic if Bitcoin Cash is included in here. Many people on my watch says that bitcoin cash is a duplicate of bitcoin right? Because of the fork. And they are referring that BCC is a shitcoin. So if you duplicate bitcoin, the result would be a shitcoin.

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September 02, 2017, 12:38:45 AM
 #251

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?
I think it is impossible to do that. It can be fraud or scammed from your wallet but making a fake bitcoin is not possible to happen. Bitcoin was created to be more secured from the hackers. No one could do that. It is easy to make money from the bitcoin and altcoins.

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September 02, 2017, 01:05:51 AM
 #252

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 is possible. Some site can do this scammig and faking tokens but in stock market its hard to create a fake toke  because you need to apply for the exchange of your token. Some company will not do that scamming of coins.

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September 02, 2017, 01:18:42 AM
 #253

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?
No, you can neither fake nor duplicate bitcoins. If ever you want to create one, you might be referring to the creation of an altcoin. There are lot of new crypto-coins/altcoins being introduced nowadays, and they are trying to compete and overtake bitcoin (which I think won't ever happen). Each cryptocurrency has unique sources, thus it is impossible to fake bitcoin.

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September 02, 2017, 02:30:26 AM
 #254

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?
That is still impossible mate, From the very start we all know that bitcoin cannot be duplicated. And the problem was " IF "they are making, which means, from 2009 up to now 2017 none of the hacker can able to that. That's the good things about in bitcoin, it is very safe and secured, and decentralization was a powerful things bitcoin has it now. Smiley

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September 02, 2017, 06:02:41 AM
 #255

this is like creating counterfeit money, however it would probably take the couneterfeiter or hacker decades just to duplicate a satoshi, though they can make codes, the wallets won't easily accept it since there is no algorithm in it. however if i'm the hacker, i will not waste my time on counterfeiting, since it will take a team of teams, in order to shorten thw time of hacking, but we are dealing with codes here, just one mistake, you need to repeat everything, instead hackers use scam sites in order to obtain your bitcoin, especially from the newbies, so we need to take caution. i think if you try to counterfeit bitcoin, just use your skill to help others and try to make an altcoin, you'll never know, maybe your altcoin will be successful.

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September 02, 2017, 06:22:21 AM
 #256

I think immposible to duplicate bitcoin, bitcoin has block block that to save bitcoin on it, if duplicate coin made where it dave to? To bitcoin block? Hahahaha it immposible. But if duplicate coin make same place to save it so you can get coin like bitcoin

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September 02, 2017, 01:56:59 PM
 #257

i think everything is possible to do because we live in the new era technology which technology is always growth but its depend on the purpose for what the fake is created. although i don't know much about bitcoin, but as long as one thing can create then the another one can be created too. we see that for example cellphone from USA/England/Switchzerland can be made by another country which have same specification but the different is the quality.

this is the same with bitcoin, maybe people can created fake bitcoin but this doesn't mean the fake one will get success too like bitcoin and the price can reach the highest price like bitcoin.

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September 03, 2017, 01:26:56 PM
 #258

Are some of you not aware of straight 1:1 altcoins  Wink?

Bitcoin Cash sure smells like a fake bitcoin.

No it is not, it is an altcoin. bch have its own blockchain running. A fake is when you can insert a series of letters and numbers in to bitcoin blockchain and others will accept it as bitcoin. No one can do that yet unless they have very powerful computers that can compete with the hash power of the miners combined.

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September 03, 2017, 07:08:36 PM
 #259

for now nobody can make a fake bitcoin, but if anyone can make it I think he will be the richest man, because the bitcoin price is now $4000 and if he makes a fake bitcoin as much as BTC10 he will get rich

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September 03, 2017, 07:24:25 PM
 #260

It was terribly easy to create fake bitcoins, but not in the way you think. Hope the waves platform got it managed to protect the names of existing cryptos.
https://bitcointalk.org/index.php?topic=1927689.0

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