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Author Topic: Alternative Block Chains : be safe!  (Read 305401 times)
Malabarka
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The Future Of Work


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December 30, 2017, 05:10:28 AM
 #481

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 author is absolutely right. Those are 3 rules everyone should follow.
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 would add another rule. If You have one computer do not use windows. Protect yourself from viruses and install Linux. We can say that these prevail applicable to any job on the Internet.

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December 30, 2017, 02:24:53 PM
 #482

Most of the new coins coming out daily are created by ignorant developers. Now that's scary. Very, very scary.
rammanbl4
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December 30, 2017, 02:58:55 PM
 #483

Thats right, im using more then one pc so i can mine easy. Not like other with one pc. Also what is important to use legit windows, not to use pirate windows. And with that you can make serious money as i do.
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December 31, 2017, 05:46:31 AM
 #484

Puthiyadath Jithesh:
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December 31, 2017, 07:31:54 AM
 #485

The point is always ensuring safety in all transactions. There are alternative block chains really are coming out and many altcoins are also out in ICOs and Airdrops, but this things are always at our own risk. It is always up to us on how how we comprehend on whats going on with the market that we are into.
emma46
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January 01, 2018, 11:25:30 AM
 #486

This is true, a lot of block chains have actually emerged in the internet. As always people never change, despite the ease of earning money through cryptocurrencies, they still want an easy and illegal way to earn. That's why we need to be more mindful on the block chains that we want to use when we are dealing with our coins.

Georgejoshio
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January 03, 2018, 03:45:31 AM
 #487

Besides reading articles on which cryptocurrencies are gaining traction, how are people in this forum getting information?  For example, in the following article - https://www.fool.com/investing/2018/01/02/forget-bitcoin-here-are-12-cryptocurrencies-you-sh.aspx - should I consider certain publishers or authors as more credible over others? There are just so many writers out there and not sure who to trust.
AYOSALAD
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January 03, 2018, 07:50:14 PM
 #488

https://www.youtube.com/watch?v=zqJe1TZ3Zjs&t=39s
Sup guys check out my channel I got a new video coming out soon explaining the recent surges and a tutorial on trading Ripple Smiley
melancoly
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January 03, 2018, 08:59:32 PM
 #489

You have to really be careful and very cautious of the third party software.
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January 03, 2018, 09:27:12 PM
 #490

Most of the new coins coming out daily are created by ignorant developers. Now that's scary. Very, very scary.
Why do you think so? Can you give any examples?
Mzai620
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January 05, 2018, 07:16:50 AM
 #491

I'm usually a lurker in crypto groups and have exercised restraint when it comes to giveaways and airdrops of new altcoins. I work for a cybersecurity company and read a lot of scam and hacking stories. Safety and security in technical (IT) terms is not my strong suit. In general, when you do decide to install software for a new altcoin, I agree with the others who suggested using a separate machine. Especially for newbies like me, because we don't know how to look "under the hood" to check that malware or keylogger is not packaged with any new downloads and installs.
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January 05, 2018, 02:41:23 PM
 #492

hey guys... anyone interested in making quick profit enetr this pump and dump group https://discord.gg/q9F95X

we need more members to increase profit.. our current profit is only x3
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January 06, 2018, 11:18:30 AM
 #493

Well said...I believe we have to be careful and analyse strategically when diving into new projects for security reasons..always do your own research.
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January 06, 2018, 02:28:38 PM
 #494

Crypto currencies or Coins Market are quite Confusing.should be more Forums  Undecided
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January 06, 2018, 05:26:15 PM
 #495

as we are working,i think it's actual
hatd2012
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January 07, 2018, 03:07:21 PM
 #496

Hi
You can using an alternate cryptocurrency client would be a great way to get many people to install a hidden virus that targets Bitcoin users.

If you have a significant amount of Bitcoins, I wouldn't run other clients on the same computer until the alternates have developed trust over a longer period of time
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January 07, 2018, 08:04:09 PM
 #497

I strongly agree. That's partly why I haven't messed with the alt chains. I even mentioned this on the announcement thread for lxcoin but it got drowned out with all the excitement about it.
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January 09, 2018, 12:58:30 PM
 #498

For all the time that I was engaged in mining, I have never noticed any kind of third-party actions with the computer. For mining I use open source programs. Operating system Linux.
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January 09, 2018, 05:56:42 PM
 #499

I am equally paranoid, if it is me, I will encrypt every one of my wallets, to ensure safety.

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January 09, 2018, 10:27:25 PM
 #500

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.


Lots of thanks to you Gavin! This will truely help the ones that are very ignorant including me. It is true that the majority in this forum only knows the blockchain of bitcoin and have no idea about the other types.

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