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Author Topic: Can fake bitcoins be created?  (Read 11418 times)
Squidoogeek
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October 21, 2017, 06:13:28 PM
 #341

"Fake" bitcoins can theoretically be created, but this would mean forking the Bitcoin blockchain, which would easily be spotted and shut down on by the rest of the network.
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October 21, 2017, 06:19:47 PM
 #342

It might be possible to make something that looks like it might be a fake bitcoin to someone that doesn't understand how they work but not one that would ever survive even the first transaction.

well actually it IS possible. It is just not practical. To do it you need more computing power than all the other miners put together, because mining is actually "validating transactions" and you would have to outcompute all the other miners to get your fake transaction validated faster than they would repudiate it. If you had that much computing power it's hard to imagine that you would want to counterfeit bitcoins, there are far more lucrative things to do with it. Like mine.

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October 21, 2017, 06:52:05 PM
 #343

No, you can't create additional bitcoins, there's a fixed supply of around 21 million of them. But if you had 51% of the hashpower you could perform a 51% attack. You could easily manipulate transactions and send to yourself as many BTC as you want. However, you would have to spent a lot of money on mining equipment to achieve this, not worth it when you calculate it.

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October 21, 2017, 06:59:33 PM
 #344

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?

Fake bitcoin or any kind of coin can be createt, technology can do it but the trust that bitcoin users, investors that was given to bitcoin may not eventually be created, it was build through the years and not for a single hour.

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October 21, 2017, 07:08:00 PM
 #345

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?
Well, the digital currency, which practically does not exist, can not be faked. I just do not know how to clone it, except that the others steal, just like that.

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October 21, 2017, 07:41:59 PM
 #346

I used to wonder about this question myself, and the issue of double spend. But clearly the number of bitcoin is fixed and no one can create fake bitcoin except during hard forks.
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October 22, 2017, 04:15:26 PM
 #347

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?
Fake bitcoins can be created with some sort of predecessor or successor variable/words,for example ".Bitcoin" .But am not sure if it would really be a thing. Most probably should be a scam if it's ever created. Maybe that would fool total newbies and this may discourage new users from using bitcoin.

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October 23, 2017, 04:13:17 PM
 #348

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?
Fake bitcoins can be created with some sort of predecessor or successor variable/words,for example ".Bitcoin" .But am not sure if it would really be a thing. Most probably should be a scam if it's ever created. Maybe that would fool total newbies and this may discourage new users from using bitcoin.
Yes I agree with you that everything is possible in this world and if we look to the new technology time then we will observe this is really easy for some people who will ne specialized in this field and I think this can be possible and we also seen many currencies which were fakes and they give negative facts to people about bitcoin now.
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October 23, 2017, 04:15:12 PM
 #349

I used to wonder about this question myself, and the issue of double spend. But clearly the number of bitcoin is fixed and no one can create fake bitcoin except during hard forks.
As we know there is many cases occur In present time like making of fake money currencies etc this is s common thing now a days as well as in bitcoin this case is same as I say this can be possible to make fake btc and we need to look forward that how much technology grow up and the conclusion we get from now technology is this can be possible!

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October 23, 2017, 04:22:43 PM
 #350

Yes, it is possible to create a fake bitcoin, but the viability  of such a fake coin is subject to the acceptability by the various genuine wallet such as blockchain, coinbase, xapo e.t.c, of course non of the aforementioned wallet will accept it as a result the fake bitcoin will be useless, in fact that one of genuineness of bitcoin over fiat.

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October 23, 2017, 04:31:39 PM
 #351

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?

For me they can't fake bitcoin account because how is it possible that your account will be duplicate by other person ? In my opiniom i think that no one can fake or duplicate any account in this site because there are so many process to create an account how about to duplicate it ? But there are so many proffesional hackers that i think that they can duplicate ? By hacking all the system that you use and the system that is connected to your account. Even if it is hard some of the proffesional can do it in a simple way.
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October 23, 2017, 05:05:45 PM
 #352

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?

Definitely yes. Criminals nowadays are too smart to do such thing. They can commit possible crimes that's beyond our imaginations. They know a lot about technology. If they can fake money, I think that they can also create a fake digital money. So we all must be careful. Hackers are everywhere.

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October 23, 2017, 05:20:30 PM
 #353

is hardfork making "fake bitcoins" ? if so, BCH and BTG are fake bitcoins

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October 23, 2017, 05:28:18 PM
 #354

Hey

We hear about blockchains every day , blockchain this blockchain that infact we forget the main reason bitcoins are based on blockchain and that is ! Blockchain is nearly next to impossible to hack or to bypass, its super safe , super secure, and super new !!!!! Right now there isn't any technology present to hack them up, but yes everything is man made only , you design a set of programmes and softwares and someone more intelligent than you can design... .... how to create an opening in it thus its not totally impossible but the chances are nil right now.

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October 23, 2017, 11:12:56 PM
 #355

well every created bitcoin is works with the blockchain framework  and works with the block to block confirmation stuff. so every transaction has to meet the receiving wallet standard. so talking about fake bitcoin is really not possible.

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October 27, 2017, 05:03:41 PM
 #356

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?

Definitely yes. Criminals nowadays are too smart to do such thing. They can commit possible crimes that's beyond our imaginations. They know a lot about technology. If they can fake money, I think that they can also create a fake digital money. So we all must be careful. Hackers are everywhere.
As far as I know, I do not know anyone can fake the original Bitcoin. Of course, you can create a new Bitcoin from the old blockchain after hardfork, but you can not fake the original Bitcoin. Because this source does not open, it has blocked in the blockchain system of original Bitcoin.

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October 27, 2017, 05:07:37 PM
 #357

Impossible. I think this was achievable back when it first started and a hacker made thousands of coins which were later deleted by satoshi.
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October 28, 2017, 01:13:13 PM
 #358

I consider this possible, since bitcoins have a limited number of 21 million, and it is possible to track the path of each of them. Thus, every counterfeit bitcoin will be opened and destroyed.
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October 28, 2017, 01:19:05 PM
 #359

Fake bitcoin never exist. There is only one bitcoin, the other will only be alt or token. Because those associated with crypto can be detected easily so that the original or false can be known.

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October 28, 2017, 01:23:24 PM
 #360

There is a possibility to have a  fake bitcoins but i think the developers are going to have or they will developed some programs that cab determine whther your bitcoins were fade or not.

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