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Author Topic: Alternative Block Chains : be safe!  (Read 197315 times)
Joint Force
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August 24, 2016, 09:41:19 PM
 #161

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.



NICE TIPS

This's a must read for everyone!

1) Now in 2016, lots of alternative block-chains use usb thumb sticks with a bootable OS with the wallet pre-installed. You can then save private keys on the usb stick keeping them safe from other apps. These are a great way to stay safe and organized. With exchanges supporting all kinds of hard-forks, some of which include hard-forking away your private keys, you have to have easy access to your coins at anytime.

2) Learn to use a block explorer.


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ricky ryaan
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October 16, 2016, 09:16:23 AM
 #162

on what kind of coins is this applicable
david chritopheria
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October 17, 2016, 12:16:57 AM
 #163

bitcoin is d best
FifthGhostbuster
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October 28, 2016, 01:46:30 PM
 #164

Thanks Gavin

Go CureCoin!
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November 06, 2016, 06:16:49 AM
 #165

Good ... (y)   

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November 12, 2016, 05:01:55 AM
 #166

I thought there is new blockchain bec it says " be safe" then saw the date and I realized this post were about those old days of blockchain. I guess, blockcain is fine now and being still a newbie, security measures are strong. Just dont forget to back up and download paper wallet just in case something went wrong. We have to be careful because its about money. Right?

rasyid_muhammad
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November 21, 2016, 12:41:42 AM
 #167

whether altcoin recommended for mine
patrickj
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December 11, 2016, 01:38:40 AM
 #168

yeah me too. When I first knew about bitcoin I was curious how it work, so everyday I came to read some stuffs on how to earn money without being scammed.

Nice post. Thanks
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December 18, 2016, 10:26:06 PM
 #169

Wow great info for people to read. Im fairly new to using blockchains and this is great information. I agree with changing passphrases every site you use. I would like to add make sure you run antivirus softwares and firewalls too. Overall great info!! Peace Love and Crypto!!

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Nanda Dewi277
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December 24, 2016, 06:49:16 AM
 #170

on what kind of coins is this applicable
blockchain to store or can say bitcoin bitcoin wallet

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Nanda Dewi277
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December 24, 2016, 06:51:26 AM
 #171

bitcoin is d best
yes indeed bitcoin is the best coin in the digital world as it is today, traffic bitcoin which continue to climb, make hunting more excited bitcoin

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December 27, 2016, 09:28:01 PM
 #172

What alternative blockchains are you using it? I only use blockchain.info
artdor
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January 18, 2017, 01:05:21 PM
 #173

I thought there is new blockchain bec it says " be safe" then saw the date and I realized this post were about those old days of blockchain. I guess, blockcain is fine now and being still a newbie, security measures are strong. Just dont forget to back up and download paper wallet just in case something went wrong. We have to be careful because its about money. Right?

And I recently got hacked. And all because I lightly to safety. Now everywhere all levels of safety included. And put passwords complex and setup authorization 2fa and even confirmation by phone.
Only bitter experience teaches treated with seriousness to more security! Be carefully my friends!
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January 22, 2017, 01:10:45 AM
 #174

Bitbay are about to release a rolling peg

I say buy coins with proper tec behind them!

David Zimbeck is crypto's Bill Gates. He's created BitHalo, NightTrader, 1st true decentralised market, crypto's only double deposit smart contracts (trustless), cold staking and pay via email.
Bitbay is his coin and will explode once he has finished created another crypto 1st which is a rolling peg. All to be finished within 2 months.

 I'm expecting big gains once the rolling peg is implemented.
Everyone will jump into bitbay to hold onto their assists during dumps. It's going to be huge!

It's going to be a huge thing! All the investment companies that deal with Bitcoin will be buying bitbay for this reason! We are talking possible billions of dollars
artdor
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January 22, 2017, 07:50:12 PM
 #175

Bitbay are about to release a rolling peg

I say buy coins with proper tec behind them!

David Zimbeck is crypto's Bill Gates. He's created BitHalo, NightTrader, 1st true decentralised market, crypto's only double deposit smart contracts (trustless), cold staking and pay via email.
Bitbay is his coin and will explode once he has finished created another crypto 1st which is a rolling peg. All to be finished within 2 months.

 I'm expecting big gains once the rolling peg is implemented.
Everyone will jump into bitbay to hold onto their assists during dumps. It's going to be huge!

It's going to be a huge thing! All the investment companies that deal with Bitcoin will be buying bitbay for this reason! We are talking possible billions of dollars

If I correctly understood you, then Bitbay it crypto currency which shall appear soon? And at what exchange plan it to sell? And whether it is possible to learn more information on it somewhere? If everything is as you speak, then I too not against to get profit.
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January 30, 2017, 07:20:28 PM
 #176

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.
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February 11, 2017, 08:09:55 PM
 #177

Yes actually the most secure is to install bitcoin wallet on your computer!
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers
artdor
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February 12, 2017, 11:38:14 AM
 #178

Yes actually the most secure is to install bitcoin wallet on your computer!
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers


I also believe that the most safe way to store them is the local budgets. But I still really like the idea of storing them on your phone. Also it turns out local purse, only always close
rebel69
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February 28, 2017, 06:02:14 AM
 #179

thanks for vital info1  Grin

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March 01, 2017, 08:59:31 PM
 #180

whats the best site to sell bitcoin???
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