Alternative Block Chains : be safe!

[Donationcoin]

One thing I learned for myself is that you shoul avoid any computer software from the resources you are not sure about. So there is no surprise the question whether to trust or not is still open today and you are the one who choses for yourself.

[Wiliam heil]

These days you can't even count on "trusty" exchanges that have been on the market for a couple of years

[franklin hoses]

There is no comparison with this decentralized network.So keep your password be hidden and be safe.

[Crypto Jennifer]

There's this ICO going on for an Australian company called BlockGrain.io They’re aiming to automate the supply chain with Grain and later on Fruit/Vegetables/Wool. The sale has started.


You might also be interested in their BlockGrain.io bounty thread http://[Suspicious link removed]/BlockGrain-Bounty-Promotion

[elachious123]

I keep wondering how everything about Blockchain Technology works, sciences has made things easy, I no longer believe there anything impressible recently. Kudo to the Team behind Blockchain

[cryptoflintcode]

Blockchain technology has come a long way since this thread was created and since then the positives outweigh the negatives. About security and hacking.. everyone is expected to take stict measures to secure all their online accounts

[donskova29]

Generally, if you have a large amount of bitcoins on a given PC, being extra-cautious about third party software

[kim owen]

You have to really be careful and very cautious of the third party software.

[idythef]

I strongly agree. That's partly why I haven't messed with the alt chains.

[Noah_abri654]

Thank you sharing with us

[Donationcoin]

For example, if there is some PC where you have good amount of cryptocurrency of the altcoins in particular then you have be careful with all third party softwares that you use.

[Landakhitam]

For example, if there is some PC where you have good amount of cryptocurrency of the altcoins in particular then you have be careful with all third party softwares that you use.

Indeed we need to study the information thoroughly before investing. Not all facilities are excessive and free, therefore, in order not to remain in a broken trough, studying the market or taking risks but a good risk.

[Dann hauer]

well explained... godbless dude...

[adutlf88xn]

I think that if you have large amount of btc than you must generate address with multiple sign keys start with 3 instead of 1 than you only install bitcoin wallet in your machine and store btc their and don't use and install any thing in that machine this is best way to secure your btc.

[Donationcoin]

That is actualy true that both the blockchain and other alternative systems can be secure but you just need to be more careful and follow saferty measures.

[Donna25]

I haven't seen anybody post about what would be my biggest worry if I were trying out alternative block chains. I realize this may be perceived as "Gavin is FUD'ding anything that isn't bitcoin!"  (FUD == Fear, Uncertainty and Doubt)  But I think some of you might be forgetting some basic computer security fundamentals in the excitement to be early adopters.

When I first heard about bitcoin, my questions were:

1) Can it possibly work (do the ideas for how it works make sense)?
2) Is it a scam?
3) If it is not a scam, could it open my computer up to viruses/trojans if I run it?

I answered those questions by:

1) Reading and understanding Satoshi's whitepaper.  Then thinking about it for a day or two and reading it again.
2) Finding out everything I could about the project.  I read every forum thread here (there were probably under a hundred threads back then) and read Satoshi's initial postings on the crypto mailing list.
3) Downloaded and skimmed the source code to see if it looked vulnerable to buffer overflow or other remotely exploitable attacks.

If I were going to experiment with an alternative block-chain, I'd go through the same process again. But I'm an old conservative fuddy-duddy.

If you want to take a risk on a brand-new alternative block-chain, I'd strongly suggest that you:

1) Run the software in a virtual machine or on a machine that doesn't contain anything valuable.
2) Don't invest more money or time than you can afford to lose.
3) Use a different passphrase at every exchange site.

I think it's a good advice. But I also believe in quotes by Facebook CEO Mark Zuckerberg "In a world of constant volatility, the strategy that leads you to failure is to dare not take risks." So maybe we can trust at the right time.

[bohemianaman5]

yes, couldn't agree more, security is very important

[Donationcoin]

There is one more thing I would mention that having different passwords for your excahnges, emails and other platforms is always another way to stay on more safe side.

[fraggyb]

The basis of the basics of secure storage of bitcoin or any other crypto currency is caution when using software, especially third-party software.

[fraggyb]

When storing a large amount of bitcoin in order to minimize the risk of being deceived or getting scammed, I recommend storing crypto currency on several wallets with a fairly secure password.