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Author Topic: Can fake bitcoins be created?  (Read 11446 times)
vasrasus
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May 19, 2017, 03:05:46 PM
 #61

There is still a chance to create fake bitcoins because cloning of coins are usually done by other devs and bitcoin is not an impossible target. But it is very difficult because it a unique code. Only satoshi can duplicate it though that's why it still possible.

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May 19, 2017, 03:32:07 PM
 #62

Fake bitcoins cannot be generated or created because if this is possible then it is already have been done by the programmers around the internet world but i think there is no available cases for this so it is very clear that bitcoin cannot be recreated or create fakes of its because it is very secured on its algorithm.

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May 19, 2017, 04:29:38 PM
 #63

There is still a chance to create fake bitcoins because cloning of coins are usually done by other devs and bitcoin is not an impossible target. But it is very difficult because it a unique code. Only satoshi can duplicate it though that's why it still possible.
Satoshi may alter the basic characteristics of bitcoin ecosystem for example altering total supply cap of bitcoin. But I am not finding it is the case of duplicating. Duplicating in the sense creating new bitcoins other than what are actually being mined. But I am sure miners while validating the transactions will ignore as invalid transactions. This is what the actual work being done in the name of confirmations.



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May 19, 2017, 04:32:40 PM
 #64

Bitcoins were available virtual. It doesn't have any physical form, so creating a fake bitcoin is simply impossible. If that's possible now the supply to demand ratio might have changed a lot discriminating the value of bitcoin.

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May 19, 2017, 04:38:08 PM
 #65

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?

This is not possible, because of the complicated encryption on the system of bitcoin it is not possible to duplicate it, that is why there are several Altcoins that are not initially related to bitcoin but they are all Cryptocurrency, but not as stable and bigger as bitcoin and I guarantee that bitcoin is more safe that other altcoins out there! 

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May 19, 2017, 04:53:55 PM
 #66

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?

This is not possible, because of the complicated encryption on the system of bitcoin it is not possible to duplicate it, that is why there are several Altcoins that are not initially related to bitcoin but they are all Cryptocurrency, but not as stable and bigger as bitcoin and I guarantee that bitcoin is more safe that other altcoins out there! 

other cryptocurrencies basis were bitcoin, they were created in a idea on how bitcoin built and grow, they are followers of bitcoin for they can't completely copy at create a fake that seems really alike in bitcoin.

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May 19, 2017, 04:59:23 PM
 #67

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?

This is not possible, because of the complicated encryption on the system of bitcoin it is not possible to duplicate it, that is why there are several Altcoins that are not initially related to bitcoin but they are all Cryptocurrency, but not as stable and bigger as bitcoin and I guarantee that bitcoin is more safe that other altcoins out there! 

other cryptocurrencies basis were bitcoin, they were created in a idea on how bitcoin built and grow, they are followers of bitcoin for they can't completely copy at create a fake that seems really alike in bitcoin.

Will never be able, because all hash and transaction details are very transparent, if falsified also will not be able to transact, this is nothing more than just a failed discourse. Unless they are able to create fake systems that can use fake bitcoins for transactions, but still this is hard to expect.



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skorupi17
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May 19, 2017, 05:51:06 PM
 #68

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?

As far as I know, Bitcoin's source code is open source, hence, it is exposed to the public. And the blueprint you are pertaining to was found already by everyone. So worrying about bitcoin be duplicated is out of the picture. If ever bitcoin can be duplicated then programmers and developers had years in doing so but are there any form of a duplicate of bitcoin? Nope. So bitcoin cannot be faked.

For the record, this type of thread already exist. You just changed the terms but it has the same idea. See for yourself: https://bitcointalk.org/index.php?topic=1921517.0

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May 19, 2017, 06:00:30 PM
 #69

Fake bitcoins cannot be created simply because everything is recorded in the blockchain. Whenever someone is sending you "fake" bitcoin. Then verify whether you are currently on bitcoin network to verify the transaction.
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May 19, 2017, 06:24:57 PM
 #70

Fake bitcoins cannot be created simply because everything is recorded in the blockchain. Whenever someone is sending you "fake" bitcoin. Then verify whether you are currently on bitcoin network to verify the transaction.
Of course, no more Bitcoin is small money, but at the same time it seems to me that a simple person or even a beginner in the Bitcoin realm is very easy to deceive. So many who are looking for someone to attack it to give real money for a fake Bitcoin financial transaction.

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May 20, 2017, 01:51:33 AM
 #71

There is still a chance to create fake bitcoins because cloning of coins are usually done by other devs and bitcoin is not an impossible target. But it is very difficult because it a unique code. Only satoshi can duplicate it though that's why it still possible.
Satoshi may alter the basic characteristics of bitcoin ecosystem for example altering total supply cap of bitcoin. But I am not finding it is the case of duplicating. Duplicating in the sense creating new bitcoins other than what are actually being mined. But I am sure miners while validating the transactions will ignore as invalid transactions. This is what the actual work being done in the name of confirmations.

No Satoshi cannot alter anything. No one can. The same reason why Segwit cannot be activated or why the network cannot hard fork to Bitcoin Unlimited. "Altering" anything in Bitcoin needs consensus.

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chixka000
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🌟  eSports ICO: 01/11/2017 🌟


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May 20, 2017, 02:04:30 AM
 #72

You can create one but basically it is not part of our circulation.  Just like the alt coins in which they have their own circulations each. So basically that would happen to your duplicate coin which is also basically dead

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jexphe2k
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May 20, 2017, 11:47:58 AM
 #73

nothing impossible in this world dude  Smiley

Yeah! True nothing is impossible, given time and resources it will be possible. Cheesy

People in Mobile phone technology say this too, the phone cannot be hacked or copy(duplicated) yet most of them have been victims of mobile cloning. I've heard rumors that Bitcoins has flaws, and they recently discovered it in Monero a vulnerability which enables users to create an unlimited amount of coins. Could the same be true in BitCoin?

I
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May 20, 2017, 12:13:21 PM
 #74

nothing impossible in this world dude  Smiley

Yeah! True nothing is impossible, given time and resources it will be possible. Cheesy

People in Mobile phone technology say this too, the phone cannot be hacked or copy(duplicated) yet most of them have been victims of mobile cloning. I've heard rumors that Bitcoins has flaws, and they recently discovered it in Monero a vulnerability which enables users to create an unlimited amount of coins. Could the same be true in BitCoin?

I
With such predictions, all the advantages of Bitcoin are lost and if it is proved that there is a huge amount of counterfeit coins, a simple person really does not want to use crypto currency, especially when he does not know much about how to protect himself from scammers.

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michaelmoore1867
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May 20, 2017, 12:18:50 PM
 #75

I think everything is possible, surely not in the short term, so it is good that bitcoin evolves .

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shamzblueworld
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May 20, 2017, 12:32:22 PM
 #76

Bitcoins don't actually exist.

Therefore, there is nothing to duplicate.

Since there is nothing to duplicate, it is not possible to duplicate it.

You might as well be asking if it is possible to duplicate an unicorn.

Sure, you can draw a picture of a unicorn, or you can strap a dildo to the forehead of a horse, but it isn't really a unicorn, is it?  That's because unicorns don't actually exist.

Or are you talking about duplicating the Bitcoin Protocol?  If that's what you mean, then it's already been done.  Many times.  The majority of altcoins are just duplicates of the Bitcoin Protocol (perhaps with a bit of tweaking of parameters here or there).
So a better question would be, can a wallet be made such that it shows bitcoin in it that are not there... I think this can be done, and it will almost have the same effect as of having fake bitcoin right? You can show someone the wallet and show them how much you got, and con them or whatever you're gonna do with fake bitcoin.
This sounds doable quite easily, at least in theory.
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May 20, 2017, 02:31:41 PM
 #77

This can be done by faking all things associated with Bitcoin. Hackers/Fraudsters will have to develop a fake Bitcoin, a fake blockchain, a fake wallet, fake miners and other things that is needed to use bitcoin. By making these fake things, it should be a perfect copy of the original ones, the websites, user interface, applications and alike. This is like having a new bitcoin that was made intended to fool people and buy the counterfeit coin. Well that is full of hardwork so good luck for the hacker/fraudster.
bitbob82
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May 20, 2017, 02:35:34 PM
 #78

You can create one but basically it is not part of our circulation.  Just like the alt coins in which they have their own circulations each. So basically that would happen to your duplicate coin which is also basically dead
yes any thing is possible but it does not mean that it can be so much popular as bitcoin is or it can replace bitcoin. i think people are doing several attempts but still not a single one is yet succeeded and hope that not a single such attempt will be succeeded in future.
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May 20, 2017, 06:12:49 PM
 #79

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 it is totally impossible to create fake bitcoin. I think nobody can found blueprints of bitcoin. its almost impossible.
CryptoBjorn
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May 20, 2017, 06:26:29 PM
 #80

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 it is totally impossible to create fake bitcoin. I think nobody can found blueprints of bitcoin. its almost impossible.

It is possible however you need to make it recognized by the blockchain. This can be done by controlling 50%+ of the network.
Something no group or person has till today so unless that happens, there is nothing to worry about.
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