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Author Topic: Can fake bitcoins be created?  (Read 11474 times)
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May 19, 2017, 02:15:36 AM
 #41

You cant counterfeit them but there are tricks you new to be aware of like a counterfeit chain.

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May 19, 2017, 02:16:45 AM
 #42

As well as we all know that there are many scammers inside the bitcoin world or in the digital coins world. There are many or so much campaigns now that are going to start their own digital coins. As I have said that many are scammers that was absolutely right. As bitcoin expose now maybe creating a fake bitcoin will be there too.

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May 19, 2017, 02:18:25 AM
 #43

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?
You can create your own coin based on bitcoin if that is what you want but it will be independent of the current bitcoin, however if you are thinking about counterfeiting bitcoin, that is completely impossible, which is another advantage of bitcoin over fiat.

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May 19, 2017, 02:25:28 AM
 #44

nothing impossible in this world dude  Smiley

That is true but it is close to impossible. Well maybe not if the top Chinese miners decide to do it for fun. But that would also mean that Bitcoin will lose a lot of credibility and the price would drop immensely. All their investments in Asics will also be worthless. Knowing that by nature humans are inherently greedy it would make it again close to impossible.

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May 19, 2017, 02:27:04 AM
 #45

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.

yes i am agree with you said and not every people can do this. without having high skill in the networking programming language and other skills, we can not create crypto currency. but to created fake bitcoins, i don't think it will worth like the original bitcoins because something that is fake is not like the real and original.

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May 19, 2017, 06:12:22 AM
 #46

I think it impossible to create fake bitcoin. Because bitcoin start 2009 and still going smoothly.The bitcoin  sucurity system is very modern and safe.

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May 19, 2017, 06:29:00 AM
 #47

you can at best spend two times your coins not having more than what the limit is set for, there is a reason if we have the 21M hard cap, you can't exceed that without changing the code and waiting for consensus from all the parts that need to agree

your question is no different than asking for increase the supply cap of bitcoin, you can do it only by creating another altcoin, which is not bitcoin anymore but a surrogate...in fact any alt is an attempt to change the bitcoin rules...
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May 19, 2017, 06:34:11 AM
 #48

I think it impossible to create fake bitcoin. Because bitcoin start 2009 and still going smoothly.The bitcoin  sucurity system is very modern and safe.
there's not impossible think to creates fake bitcoin because everything is possible in crypto world while humans with the fuckin brain still exist.  Smiley
we never know when it would be happen

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May 19, 2017, 06:41:40 AM
 #49

I think it impossible to create fake bitcoin. Because bitcoin start 2009 and still going smoothly.The bitcoin  sucurity system is very modern and safe.
there's not impossible think to creates fake bitcoin because everything is possible in crypto world while humans with some intelligent brain still exist.  Smiley
we never know when it would be happen
Nothing impossible isn't always necessary since people are also smart to protect what they have created and they should assyre that no one can imitate and cheat. Certainly not. Fake bitcoin can not be created since bitcoin wallet won't read or credit fake bitcoin as it has a hash code and there are methods of transacting bitcoin. No matter what you do, if you sent any coin in bitcoin which they didn't created, nothing will be added to your btc wallet.

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May 19, 2017, 07:11:02 AM
 #50

All or most Altcoins are forking and tweaking Bitcoin's protocol so there are actually a lot of fake Bitcoins that have been created already and listed on the exchanges and are being called Altcoins.



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May 19, 2017, 07:24:43 AM
 #51

All or most Altcoins are forking and tweaking Bitcoin's protocol so there are actually a lot of fake Bitcoins that have been created already and listed on the exchanges and are being called Altcoins.

Yeah and some of these altcoins are better than bitcoin on some technicalities like speed and fees. And one day if bitcoin is not able to address these problems surrounding then someone has to replace his throne. I ride with Ripple but I don't want the banks to control us so maybe NEM is the future.


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May 19, 2017, 07:34:30 AM
 #52

All or most Altcoins are forking and tweaking Bitcoin's protocol so there are actually a lot of fake Bitcoins that have been created already and listed on the exchanges and are being called Altcoins.
In my own view All Altcoins i do consider as fake bitcoin since they do create their own in the likeness of bitcoin but all of them cant still reach up or even up on bitcoins value which means its really hard to fake bitcoin no matter what. Imagine that bitcoin is 8 years old already-correct me if im wrong and you cant see any coin that is likely the same on it.

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May 19, 2017, 07:41:59 AM
 #53

Its impossible no matter how advance their knowledge into it is,nodes is not easy to fake out and you need it in order to create an coin like bitcoin or make a copy of it,peoplw with knowledge will eventually notice it before going into it

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May 19, 2017, 07:46:23 AM
 #54

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?
Everything in this world are now possible, and most of the time we became a victim of artificial things whether money, documentations, title of lot, and identity, etc. And regarding about bitcoin, yes! there are altcoins out there who are artificial/clone alternatives by bitcoin. They, can only duplicate but they can never get the original one characters of Bitcoin itself.

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May 19, 2017, 07:49:46 AM
 #55

All or most Altcoins are forking and tweaking Bitcoin's protocol so there are actually a lot of fake Bitcoins that have been created already and listed on the exchanges and are being called Altcoins.

Yeah and some of these altcoins are better than bitcoin on some technicalities like speed and fees. And one day if bitcoin is not able to address these problems surrounding then someone has to replace his throne. I ride with Ripple but I don't want the banks to control us so maybe NEM is the future.
No one can tell that since the competition in altcoins is tough that even investors can not decide which altcoin is better. Fake bitcoin shouldn't be called for altcoins which has same algorithim since they have differnet concepts, market, name, hash codes, and addresses.

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May 19, 2017, 08:15:15 AM
 #56

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?
Hopefully not happen

Because bitcoin has a very sophisticated feature.
Bitcoin has a sophisticated algorithm and it is unlikely that it can happen.
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May 19, 2017, 09:49:19 AM
 #57

I don't think that will ever happen since there are only 21 million bitcoins in circulation

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May 19, 2017, 10:42:38 AM
 #58

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.
I think no because as you said bitcoin is not a paper money that you can duplicate it very easily. But if someone could hack bitcoin they could duplicate bitcoin and they can put it in their wallet. But i know there is no one who can hack bitcoin so still it is impossible to duplicate bitcoin or to fake it.

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May 19, 2017, 01:49:20 PM
 #59

I don't think that will ever happen since there are only 21 million bitcoins in circulation

Making fake bitcoins don't depend on how much bitcoins are in circulation or how much are not in circulation. Its bitcoin's code and alogrithem which makes it unique. but still blueprints are yet to be discovered.

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May 19, 2017, 02:55:27 PM
 #60

The whole point of proof-of-work is to prevent this from happening. Not impossible, but extremely unlikely.
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