Alternative Block Chains : be safe!

[crea8ivemoiz]

What are the safest online wallets?

[1714164814]

1714164814

[1714164814]

1714164814

[1714164814]

1714164814

[1714164814]

1714164814

[Valer4ik]

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 have in my wallet FuD and FUDD can be malicious
  get access to my wallet ??

[ronbt]

I have listened to the ConnectX webinar and learned about the alternative to the new wave of blockchain. The intention is to move transaction to a network of sattelites separate from internet for better security. The idea is very appealing and webinars are ongoing. Quite an idea to have the next blockchain off the net! https://connectx.us5.list-manage.com/track/click?u=d9d859303d0737014d41b6c48&id=e6972bc931&e=faef4d3288

[Arsenio Aileen]

hi, everyone

Sorry for out of topic..

Which one coin do you think will stable?

I wanna invest more for my child...

Thank in advance

[hurry_hore]

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 opened this thread as there is new posted reply, and see the post seems very useful. However there is my concern specially for posting date, it was 2011. I consider perhaps any update of the advice whether still applicable for now or perhaps any more advance advice as now so many coins issued. The important thing is security and safety for everything, not just only trading for cryptocurrencies but also other side which was advised aforesaid.

[kellystevens]

There are good altcoins in the market right now. Tron, Bulwark and VeChain are some of the altcoins i have invested. Most of the prediction sites are also expecting a good growth for such coins. check out this: http://coinpriceprediction.net/tron-price-prediction-trx-forecast-2018/ they are expecting a good growth for tron. I hope altcoins which has good technology will last in the market. I Personally think BCH and other fake Bitcoin spams will be a huge risk too.

[Helene Frigout]

I would STRONGLY suggest you look into this Gavin.

Relevant discussion on the bitcoin-dev mailing list is here:
  http://sourceforge.net/mailarchive/message.php?msg_id=28082081

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[crypto2rule]

Hello Gavin, what a new blockchain should have to spark your interest? I mean what should it be capable of and futures you would expect?

[Nikita2017]

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[Jmancrypto]

Anyone liking Tron , Ripple, or Mana these days ... started investing not long ago... made a decent amount so far👍
25690881 Is m referral code if anyone is looking to start with binance... great site to start trading on and a good time to do so being that they just had a huge update to their site and are currently offering cheaper trading deals.

Here’s the link to make finding the site easier:
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Good luck trading everyone

[Robert Le]

Also, don't believe everything that prominent members of the Bitcoin community have to say about alternative chains. In particular, I know some people think that the number of confirmations doesn't matter and all that matters is the total expected time of the confirmations, so that 1 10-minute-average confirmation is more secure than 3 3-minute-average confirmations. If you read Satoshi's paper it's clear this isn't true; the number of confirmations is actually more important because transaction security increases exponentially with more confirmations. (His paper has approximate figures; you'll notice that accepting 1 and 2-confirmation transactions is fairly risky.

[Fokl]

The issue of trust is of great importance for maintaining that small, or large (in rare cases) earned number of tokens. In this connection, I personally do not put the software from untested developers.

[yemacake]

hi i am newbie for this forum. what is blick chains? i hope there wants to answer me. thank you

[ChangeNOW]

These days you can't even count on "trusty" exchanges that have been on the market for a couple of years... Not even talking about alternate block chains...

[CryptoAllDay]

Hi Gavin,

In terms of wallets, which do you feel is the safest to use?  I'm hearing good things about paper wallets but can see the downsides of not having your coins easily accessible for trading.   What are your thoughts?

[Kilomans]

In my city recently several blockchain conferences were held. I managed to visit some of them. After that I decided to become a member of the Mining Now project community, that offers to buy MNW tokens. The company creator AA! LAB on its website tells in details bout its successes and the progress of its cryptocurrency

[KUMAR6]

better safe than sorry thanks

[that osas]

When it comes to cryptocurrencies one can not be too safe. We always hear how people lost their "precious coins'' to one anonymous hacker and it is saddening. But yet some people are still gullible enough to transact business with someone they don't know, or even worse giving their login details to a total stranger.

To be safe I would advice the following
1. Don't sell your coins to someone you just met online or without a good business reputation.
2. Don't give your log in details to anyone for any reason.
3. Avoid filling your details on google forms claiming to be AIRDROPS!!
4, Use a different email for airdrops


AND most importantly "Invest your spare money" and DYOR.

[KUMAR6]

tough cardano is on very safe alt block chain.. how can you separate between good and risky?

[sunnyade]

it's better to set up an alternative network and chain which share the same miners, ideas and reasoning in a large platform, when it comes to Bitcoin