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Author Topic: Can fake bitcoins be created?  (Read 11402 times)
salihno71
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November 14, 2017, 08:55:33 AM

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. This duplication is also known as forking and with this step you get the parallel chain where all the previous transactions are valid but the new transactions are different. This is how some alt-coins were created.

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Zubayer
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November 15, 2017, 02:10:27 AM

I think it is possible to create fake bitcoin. Bitcoin price is so high that everyone wants to make duplicate bitcoin. Nowadays people are so crazy about bitcoin and they can create fake bitcoin. 

Obito
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November 15, 2017, 02:14:12 AM

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?
Yeah,  that's right my friend.  Everything in this world can be duplicated or have a blueprint to be faked in the eyes of many people here in bitcoin world. In our generation,  it is not that much difficult to creat fake money right now because of our technology today.

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helars2008
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November 15, 2017, 02:47:38 AM

As far as i know this is an impossible feat due to blockchain technology.
Overcoming this will surely require a lot of skills. And i believe it wouldnt happen,  bitcoin has been online for years now but there wasnt any news that come out which says that it can be hacked or duplicated. So i guess bitcoin is indeed hack-proof.

di.ako.toh
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November 15, 2017, 03:03:43 AM

For me its a yes, it is posible to create fake bitcoins and i consider it as a way of a dishonest scheme or such a "scam" to people, wherein nowadays fake news is widely spread in the country and with this fake bitcoin is possible too.

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November 15, 2017, 03:13:38 AM

Obviously not - not in the blockchain. This is one of the key advantages. Bitcoins are finite and cannot be created, furthermore the "public ledger" that the blockchain is cannot be altered (because you would need to alter all previous transactions before a new one is created which is impossible). What can happen are scams and fakes.

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November 15, 2017, 03:24:58 AM

The difference lies in the price, and the community holder. I think it's a banya trying to bring down Bitcoin and try to duplicate it.
unsuccessful, because consumer trust can not be bought.
BTC is king.

moanamakeway
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November 15, 2017, 03:34:12 AM

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 no two coins are alike. The way I see it, coins are birthed from uniwue set of codes like DNA in humans. This cannot ba duplicated or reproduced. Thay is why, altcoins on the other hand are birthed as well.

Raven91
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November 15, 2017, 03:37:27 AM

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 i think no. It is not possible to create or make new bitcoins. You can not duplicate bitcoins. Why? Because it has its own blueprint or system that can not be copied or duplicated by others. Another is that bitcoins are finite wichich means has limits thats why the blockchain will never be changed or altered by other people. It is ome of the great features of this bitcoin.

deviant99
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November 15, 2017, 03:41:49 AM

As far as I know you cant fake a bitcoin due to its process on example when you transfer bitcoin to other, you  just cant hand it over to someone but it requires some address or network or any info in order to have a successful transfer method.

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lance04
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November 15, 2017, 04:09:44 AM

Because ofhe high value of bitcoins there is a possibility that the fake bitcoins  wwill being crated. But ithunk it would be diffumicult to create a fake one.

cindygirl
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November 15, 2017, 04:12:07 AM

As far as I understand it is not possible because you would have to create a new blockchain and then you would be unable to transfer the tokens across blockchains. So you could create an exact duplicate but it would be pretty useless I guess.

BlackRacerX
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November 15, 2017, 04:16:31 AM

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'm not a computer prodigy, but based on my understanding of bitcoins, you cannot create fake bitcoins. As far as I know, you only get bitcoins thru mining and propagating a fake one would mean it has to by-pass a lot of blockchains and it has to somehow encode itself to the supply of legitimate bitcoins.

dvabit
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November 15, 2017, 04:23:15 AM

yes it can be, when all miner verify a fake transaction (that's technically impossible)
Fasdartin
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November 15, 2017, 04:25:05 AM

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. This duplication is also known as forking and with this step you get the parallel chain where all the previous transactions are valid but the new transactions are different. This is how some alt-coins were created.
well it might be 100% scam, but i think it possible to create fake bitcoin because there is no impossible in this world. As long as there have greedy people like some hackers they can be create a fake crypto. But im hoping that it will not happen because many people will be dissappointed or worst they cannot trust bitcoin anymore.

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November 15, 2017, 04:26:29 AM

of course it can, but the price will be different, and not as high as the current bitcoin price, so fake bitcoin is easier to know, and easier to compare with the original bitcoin. well, making a coin costs a lot, so be sure it will be very detrimental.


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dwiwiw
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November 15, 2017, 04:28:28 AM

 Roll Eyes IMHO you need an entire of blockchain if you want to duplicate it, so i think its impossible mate
Thecryptocurrency09
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November 15, 2017, 04:31:25 AM

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 am not sure about that since bitcoin somehow is different from other usual currencies. Yes, blueprints are use for faking but not in digital currencies. Bitcoin is technologically secured. But in terms of technological hacking, bitcoin can really be faked. It is known as forking.

MFY151
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November 15, 2017, 04:55:25 AM

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?

With today's computer I would say it is impossible since it would need an enormous amount of computing power to duplicate every transactions that has undergone  by each coins through the block chain. I think bitcoin wouldn't reach this price if it is not reliable.

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DoublerHunter
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November 15, 2017, 10:25:31 AM

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?

With today's computer I would say it is impossible since it would need an enormous amount of computing power to duplicate every transactions that has undergone  by each coins through the block chain. I think bitcoin wouldn't reach this price if it is not reliable.
I agree with you, the computers that we have right now are not enough to make duplication of bitcoin because the security of bitcoin is very high and tight so bitcoin doesn't have threat for that duplication. Bitcoin is the most secured cryptocurrency that i know and it will take a hundred years to invent a new type of computer that will destroy bitcoin by duplicating it.

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