Alternative Block Chains : be safe!

[Pintadj]

Check, how look new music cryptovalute!
https://blokt.com/icos/viberate-ico-review

[Alexeu000111]

It is necessary to understand where the whole story began

[rapi]

I do not know about alt coins.
Can you explain briefly ?

[boybadbi]

Many thanks to the author. The Soviets seem to be obvious, but for some reason they fall out of ordinary understanding. And so it is precisely those problems that arise in front of every newcomer in the world of crypto-currencies.

[cryptocurrenciesboom]

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.

excellent advice for beginner cryptoinvestors. However, not all people have sufficient knowledge in the field of programming and not everyone will be able to understand the security of the project or even the block chain itself, although you can search for knowledgeable people among your friends.

[bprof]

excellent advice for beginner cryptoinvestors. However, not all people have sufficient knowledge in the field of programming and not everyone will be able to understand the security of the project or even the block chain itself, although you can search for knowledgeable people among your friends.

You can't be more correct, not everyone knows about the technicalities of these projects but a good intuition and discretion will help.

[Howery]

Just to inform you guys few members of our community have formulated a practical plan to annihilate Wall Street hedge fund managers shorting BTC and hurting our interests and ideology.

They are planning to launch an option market linked to CME BTC futures and gate.io futures starting with knockout call and put options on soon to be launched crypto-trading platform http://debucks.io

Besides they will add reverse futures on US Dollar and Euro to be settled in BTC and ETH. I think we can trading cash (XRB. Cardano, BTC and ETH) and derivatives at debucks.io from 12th February, 2018.

[rapi]

How can you prove that transactions are safe?

I am also still confused. How to ?

[ancilcleetus]

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.

excellent advice for beginner cryptoinvestors. However, not all people have sufficient knowledge in the field of programming and not everyone will be able to understand the security of the project or even the block chain itself, although you can search for knowledgeable people among your friends.

This was posted in 2011 when cryptocurrencies were in the baby stage or still in the wombs... Now many blockchain projects conducts ICOs without even having an MVP to test as Gavin suggests... In 2011, most of the people involved in bitcoin were doing it for recreational purposes to uphold the vision it holds.... Now it has deviated and institutional investors are interested in the economical aspect only... This has to change... And it will change once the bubble bursts and only the valuable and legitimate projects that provides real-world solutions while upholding decentralization will be going to survive...

[luongdk]

In spite of six year have passed, advice is still actual and if you are going to engage cryptocurrencies you must be attentive and cautious. Especially in storage of your tokens.

[gcckpxm62308]

excellent advice for beginner cryptoinvestors. However, not all people have sufficient knowledge in the field of programming and not everyone will be able to understand the security of the project or even the block chain itself, although you can search for knowledgeable people among your friends.

You can't be more correct, not everyone knows about the technicalities of these projects but a good intuition and discretion will help.

I agree with a good intuition and discretion will help. But for beginners they are not well-behaved and cautious, they are like the lonely boat in the sea, can not find the direction, this article for the novice, is already an article Guiding the direction of their light, good intuition and cautious need long-term formation.

[dozer_v2]

I follow the Blockstream using the Lightning network since testnet and this network looks promising. To be continued...

[qnkhuat98]

LOL this post is 8 years old and it still true:3
The differents is now too many projects is fake. The world became more complicated since then :3

[Pintadj]

New big cryptovalute, Viberate, Check!
https://change-underground.com/viberate-free-crypto/

[Vincoin.cash]

This way security is assured, as no third parties are involve and no one holds the “keys”:   

[nguyenthenguyen]

Thats right, im using more then one pc so i can mine easy

[btc.fanda]

The only things I might add is that "use a different password" isn't limited to exchanges, but applies to forums, emails, and even pools

[Genskyblue]

FREE TOKEN ALERT!  Receive FREE EtherBTC!  I just registered for the EtherBTC 2018 Airdrop and you can, too!  Go to https://etherbtc.io today!

[andyb0308]

I mean this makes some sort of real world sense. They also have a program where you can get free Viberate tokens for promoting their sites or referrals. Also adding new or artists not on their lists, adding venues, or adding upcoming events. I do not know if this is cryptocurrency that will be one to go to the moon. Any thoughts?




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https://change-underground.com/viberate-free-crypto/

[Mistazeez]

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.

Very wonderful tips, but that recurring phrase 'you can afford to lose' , lol (LOL-laughing out loud).
It's a bit funny because if it's possible, no one would like to lose a dime, unless someone is a gambler.