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Author Topic: A way to generate BTC for free?  (Read 1136 times)
BitshireHashaway
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May 19, 2013, 12:09:51 AM
 #1

Hello,
I was thinking about this. So what if you were to make a copy of your wallet with 10 BTC in it and save it to a USB. Then you send 1 BTC to someone else's wallet. The copy of your wallet shows it as having 10BTC so if you were to put it on another computer and use it as the wallet.dat file, wouldn't that account still have 10 BTC even though you just sent 1 BTC to someone so if you did this in between three computers, you could generate free BTC?
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01BTC10
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May 19, 2013, 12:12:13 AM
 #2

No the 1BTC would be spent. All the transactions are in a public database called the blockchain. Your wallet.dat only contains some bitcoin address with the corresponding private key. The private key let you sign a transaction and once it's been broadcast to the Bitcoin network then it's too late... The bitcoin has been spent.
Birdy
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May 19, 2013, 12:16:18 AM
 #3

If this would work, Bitcoin would be dead already ^^
BitshireHashaway
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May 19, 2013, 12:32:59 AM
 #4

Ok thanks! I figured it wouldn't work.
Trongersoll
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May 19, 2013, 02:12:46 AM
 #5

heh, yeah, your wallet doesn't store your coins, it just examines the blocks to see where they have earmarked for you.
Marbit
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May 19, 2013, 02:37:36 AM
 #6

Haha if that were the case this wouldn't work out for long  Grin
dakiller
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May 19, 2013, 02:53:26 AM
 #7

Your wallet never holds your coins, just the keys to them.

The blockchain tells how many coins you have, the one thousands of people have copies of and what the collective mining power controls, you cannot modify that easily at all.

Your wallet may say different to what you really have, that is just because you wallet it out of sync with the network, once it syncs, it will reflect what it really is
umairsaleem011
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May 19, 2013, 02:54:09 AM
 #8

1000 percent sure this will not work.
b!z
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May 19, 2013, 03:02:03 AM
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The blockchain holds your coins; not your wallet. The wallet only contains keys to access your coins.
bornnstarr
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May 19, 2013, 05:11:51 AM
 #10

Yeah the first reply was pretty much spot on.
No need for my input!
kodo
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May 19, 2013, 05:21:32 AM
 #11

By prostituting yourself.
Bitsaurus
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May 19, 2013, 06:57:52 AM
 #12

Your keys also get updated when a send transaction occurs since when you send out coins the standard bitcoin-qt wallet send coins back to you.  The coins are not located inside the actual wallet file, just the keys.  Somebody gets your keys it's like getting the keys to your car...
Chrithu
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May 19, 2013, 09:02:36 AM
Last edit: May 20, 2013, 07:27:26 AM by Chrithu
 #13

As the others have said, this way doesn't generate you free BTC.

If you want to get some BTC without mining take a look at bitvisitor.com or coinofmidas.com (those are the best ways I have found).

Chrithu
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May 19, 2013, 09:18:31 AM
Last edit: May 20, 2013, 07:27:49 AM by Chrithu
 #14

*delete this post*

maurycy
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May 20, 2013, 12:30:04 AM
 #15

Hello,
I was thinking about this. So what if you were to make a copy of your wallet with 10 BTC in it and save it to a USB. Then you send 1 BTC to someone else's wallet. The copy of your wallet shows it as having 10BTC so if you were to put it on another computer and use it as the wallet.dat file, wouldn't that account still have 10 BTC even though you just sent 1 BTC to someone so if you did this in between three computers, you could generate free BTC?

That's called double-spending and does not work within Bitcoin, which is actually one of the reasons why it's suitable as a digital cash:
- https://en.bitcoin.it/wiki/Double-spending
01BTC10
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May 20, 2013, 12:32:40 AM
 #16

To be a double spend he would need to send the same bitcoin on two different transactions.
BitWulf
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May 20, 2013, 12:39:28 AM
 #17

No the 1BTC would be spent. All the transactions are in a public database called the blockchain. Your wallet.dat only contains some bitcoin address with the corresponding private key. The private key let you sign a transaction and once it's been broadcast to the Bitcoin network then it's too late... The bitcoin has been spent.

Was wondering how this was overcome. Thanks for the education.
maurycy
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May 20, 2013, 03:58:30 AM
 #18

To be a double spend he would need to send the same bitcoin on two different transactions.

That's what he tried to accomplish, right?
qwerty1231121
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May 20, 2013, 06:04:00 AM
 #19

Not 100% certain, but the transaction would be calculated in the next block pretty much after the 1btc is sent. Although the wallet shows 10btc, once it loads the data from the block chain, it would deduct the 1btc as it belongs to someone else now so its unconfirmed btc.
niko
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May 20, 2013, 06:21:21 AM
 #20

While it certainly is possible to drive a car or use Bitcoin without any understanding whatsoever about how stuff works, it is not recommended. Sooner or later, it will hurt.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
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