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Author Topic: Alternative Block Chains : be safe!  (Read 263228 times)
Obi2024
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October 17, 2017, 01:24:28 PM
 #281

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.



Thanks a lot for the info @Gavin Andresen, better to be safe than sorry.
It's good to be careful and all that, but there are very good guys who are developing alt chains that are very good, i would even like you to look into one if you will have the time, can i pm/email you with the info?

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October 20, 2017, 07:20:03 AM
 #282

if you have a lot of btc -don't store all of them on PC
Please, divide storage places

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October 21, 2017, 11:04:50 AM
 #283

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.



Thanks a lot for the info @Gavin Andresen, better to be safe than sorry.
It's good to be careful and all that, but there are very good guys who are developing alt chains that are very good, i would even like you to look into one if you will have the time, can i pm/email you with the info?

Original post from 2011, and yet so up to date!

Now the security is more important than ever...

Speaking of alternative blockchains - there are not that many wallets supporting more than 10-15-20 currencies...

________Any Store Can Buy, Sell and Accept Cryptocurrency________
█████████ ██ ███ ██      PUNDI X      ██ ███ ██ █████████
Whitepaper      Twitter      Facebook      Telegram      Medium      Youtube
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October 21, 2017, 01:49:42 PM
 #284

This way security is assured, as no third parties are involve and no one holds the “keys”:  Cool
Coinguru1976
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October 22, 2017, 12:31:13 AM
 #285

Just came across this new coin, heard about it a lot in Asia while I was there.  Check out the website

www.88coin.io

Considering investing in it, have a feeling it will sell out fast
Sarah08
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October 22, 2017, 02:46:02 AM
 #286

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.


The alternative block chain must be safe because it has been a source of income to many people. This alternative block chain has already helped so many people and from that it has been a very good help to everyone. Knowing that this block chain has provided financial needs of the people.
Sarah08
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October 22, 2017, 02:46:35 AM
 #287

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.


Arigatoalexis
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October 23, 2017, 01:02:03 AM
 #288

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.


The alternative block chain must be safe because it has been a source of income to many people. This alternative block chain has already helped so many people and from that it has been a very good help to everyone. Knowing that this block chain has provided financial needs of the people.

You are a funny bounty hunter Sarah08. Blockchains need to be safe of course in order to be utilized effectively by mainstream people. 
Priest Sannin
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October 23, 2017, 01:03:47 PM
 #289

thanks for the safety tips, in the crypto world it's always good to be a bit conservative so do not expose yourself to a rich risk that is a very volatile and dynamic market

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crypto freelance
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October 23, 2017, 05:39:17 PM
 #290

No one is immune from losing money. You have to be careful when working with crypto-currencies. There are many risk factors.

B E L U G A  P A Y  || The first Complete Mobile POS System || [ ICO 1st Dec 2017 ]
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October 23, 2017, 09:01:45 PM
 #291

Indeed, there are no guarantees. So should be careful in crypto world)
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October 24, 2017, 12:09:27 AM
 #292

Just came across this new coin, heard about it a lot in Asia while I was there.  Check out the website

www.88coin.io

Considering investing in it, have a feeling it will sell out fast

Just be safe!
kieuoanh
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October 24, 2017, 03:20:54 AM
 #293

Thank you Gavin Smiley
CBJon
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October 24, 2017, 07:08:12 AM
 #294

The whole point for me is that blockchain was designed to be immutable and provide the checks and balances through the distributed architecture to ensure that transactions cannot be faked.

We looked at implementing a private blockchain for our cashbag.co business, and use this to manage transactions internally, but it defeats the objective of having the EVM.

It's better for us to transact using the EVM and in this way ensure that transaction history is tamperproof.


CashBag - The Cash Back CryptoCurrency.  Token Sale launches 22 Jan 18.  https://tokensale.cashbag.co
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October 24, 2017, 04:39:02 PM
 #295

Indeed, there are no guarantees. So should be careful in crypto world)
I have the same opinion. 100%
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October 25, 2017, 07:55:19 AM
 #296

oh no
JackWilshereCrypto
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October 25, 2017, 01:42:01 PM
 #297

We invite you to joint our channel in which we share the alerts of our trading robot.


Every thing is transparent
You can check every signal on the chart to verify the results.

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JackWilshereCrypto
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October 25, 2017, 02:30:34 PM
 #298

We invite you to joint our channel in which we share the alerts of our trading robot.


Every thing is transparent
You can check every signal on the chart to verify the results.

For more information you can join the following channel



Pump/dump detector, price predictor and auto-trader robot Trial version....
Please share our link if you enjoy our signals

https://t.me/BitWatcherTrial
Nick J.
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October 26, 2017, 02:52:55 PM
 #299

Speaking of alternative Blockchains...

https://cointelegraph.com/press-releases/has-xtrabytes-already-rendered-the-top-cryptocurrencies-obsolete

This coin says it has something called PoSign or something. Not PoW or PoS i think, but not really sure.
This article was just posted on CT, so i havent had the chance to do much research.
But if true, then i guees im gonna have to take a little bite of this cake.
Guees i will do as OP wrote on page 1.

Any thoughts about the article before decide to buy or not?
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October 26, 2017, 03:55:51 PM
 #300

I think the more altcoins the better. Each new cryptocurrency gives us the opportunity to achieve something greater because each project behind it is bringing something new in this world. Wink
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