Alternative Block Chains : be safe!

[Mr.Been]

the very good suggestions you provide,  forcing me to think about, your suggestions are very useful
thanks for your advice
Good luck

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[VSOP_VSOP]

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

[bitcoinFPT]

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]

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.

[thaovtt210]

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

[GoldnOil]

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....

[VelascoMark20]

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.

[rauli2017]

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[rauli2017]

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[mrSprinkles]

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 )

[lhgirl]

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]

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.

[rauli2017]

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[X756U]

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.

[BITMAN.r]

Hello all!

Is it possible to later change our coins from ethereum to bitcoin?

[sunsilk]

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.

[BITMAN.r]

Is it advisable to invest in multiple cryptocurrencies?

[sudnokpok]

Some people only have one computer and that must suck. Fortunately I have multiple so I can use some of my alt-miners to do this safely.

[cryptokudi]

The blockchain is hosted by billions of computers around the world so that it is not controlled by any single person. Each process in the blockchain network owns a full copy of every transaction or movement of the data on the blockchain, it means that the details and history of the transaction are traced.Despite historically being used to handle financial transactions, the security and reliability of blockchain technology mean that it can be applied to other areas and industries. I think there are three benefits that blockchain technology can provide are an increase in security and trust, Reduced costs and accelerated transactions.