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Author Topic: Alternative Block Chains : be safe!  (Read 298841 times)
VSOP_VSOP
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March 14, 2018, 09:29:30 AM
 #741

Yeah i heard about that, i'm sure future will be in something like that type of alternate blockchains.

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bitcoinFPT
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March 14, 2018, 10:11:46 AM
 #742

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 for letting me know a useful knowledge in the online
AlexS_off
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March 14, 2018, 03:16:44 PM
 #743

I am sure that an alternative blockchain will become a future for cryptocurrency. Thanks to him, consumers will have new opportunities to achieve this goal. For this reason, it is now very important to develop new cryptocurrencies, because the only way to make the world of cryptocurrencies better and safer.

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thaovtt210
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March 15, 2018, 05:41:15 AM
 #744

It is not necessary that all the Alternative Blockchain are risky. There are upcoming blockchains which is exceedingly superior than many existing project.
One of them is Hdac, It is the world's first IoT Contract & M2M Transaction Platform based on Blockchain. Hdac is not just jumping aboard a technological innovation, they are turning it into a technological revolution. Hdac implements a specific authentication scheme by applying a Quantum Random Number to eliminate the possibility of hacking. With great blockchain comes great responsibility. keep safe

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March 15, 2018, 07:04:47 AM
 #745

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 never gave it a real thought but after reading your thing, it makes sense...  security should be seen from all angles.  Thank you for sharing your view....

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March 15, 2018, 02:33:48 PM
 #746

That's great advice you have there mister Gavin, thank you. I'll take note of that and be more careful so that i can avoid scams and prevent viruses. It's worth reading your thread.

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March 15, 2018, 05:25:55 PM
 #747

Lisk makes it easy for developers to build and deploy blockchain applications in JavaScript. Join the leading ecosystem for world-changing dapps.
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March 15, 2018, 05:40:35 PM
 #748

Steem powers Smart Media Tokens - Steem is a blockchain-based rewards platform for publishers to monetize content and grow community.
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March 15, 2018, 06:05:23 PM
 #749

Sia - Cloud storage is about to change. Sia is a decentralized storage platform secured by blockchain technology. The Sia Storage Platform leverages underutilized hard drive capacity around the world to create a data storage marketplace that is more reliable and lower cost than traditional cloud storage providers.
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March 15, 2018, 06:50:42 PM
 #750

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.


3) Use a different passphrase at every exchange site.......This is really wonderful advice, thanks )

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March 15, 2018, 07:35:59 PM
 #751

Steem powers Smart Media Tokens - Steem is a blockchain-based rewards platform for publishers to monetize content and grow community.

Is it about bounties and airdrops again? All functions are the same like here?
onionpepper
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March 15, 2018, 07:39:11 PM
 #752

This is a very helpfully advices. I actually apply the last advices.
 Because I do not have enough time to check source code, I only read the whitepaper.
So, I only invest what I can lost.

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March 15, 2018, 08:44:39 PM
 #753

MONERO- Private Digital Currency Monero is cash for a connected world. It’s fast, private, and secure. With Monero, you are your own bank. You can spend safely, knowing that othe
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March 15, 2018, 10:08:25 PM
 #754

Alternative Blockchain can be a real fake sometimes. In my country there were some such cases. But do anybody know such crypto currency as YoCoin? Will it be profitable to buy it or to mine it? How do you think? Does anybody have any experience?

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March 15, 2018, 10:14:28 PM
 #755

Alternative Blockchain can be a real fake sometimes. In my country there were some such cases. But do anybody know such crypto currency as YoCoin? Will it be profitable to buy it or to mine it? How do you think? Does anybody have any experience?

It is easier to mine then others. It has another special algorithm – Scrypt –mining. Because of its simplicity, there are lots of miners all over the world, who prefer to mine only this crypto. It can be done even by your grandma.
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March 15, 2018, 10:20:08 PM
 #756

I agree with it. This crypto has a real advantage, that’s why it is in the list of profitable crypto. I was thinking in the beginner of Monero, that it is a real fake. But then it got a huge success. As it was with Bitcoin, Ethereum, Lightcoin…

BITMAN.r
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March 16, 2018, 09:11:40 AM
 #757

Hello all!

Is it possible to later change our coins from ethereum to bitcoin?
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March 16, 2018, 09:31:10 AM
 #758

Actually, in the beginner of all cryptocurrencies, people thought it is bullshit. Nobody said that money from the air will be succeeded.  As to speak about fake block chain. I am little confused with crypto for virtual gaming. Will it work or not?
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March 16, 2018, 10:18:17 AM
 #759

Alternative Blockchain can be a real fake sometimes.
Fake and scam, this is why Gavin made this thread to warn others that we should have our own judgement and can follow the tips he given through points at the OP.

Hello all!

Is it possible to later change our coins from ethereum to bitcoin?
Hi, do you mean atomic swap?

For now you can exchange your ETH to bitcoin or vice versa with the use of exchanges. That's the easiest way of changing or converting any of them as you wish.

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BITMAN.r
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March 16, 2018, 10:18:35 AM
 #760

Is it advisable to invest in multiple cryptocurrencies?
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