Alternative Block Chains : be safe!

[Nat77777]

Thanks for this.

[geforce94]

There are new blockchains coming out that have been thoroughly vetted by the community.  It's hard to pull anything as there are several checks and balances.  Look at the contenders.  Wanchain, Zilliqa, AION, Edenchain, NEO, These are all legit platforms that are poised to pose serious competition to ETH for running ICOs through their blockchain.  And all are much faster than the ETH blockchain.

[drants]

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.

hello! thanx for that instruction. i like the piece about using machine without anything important, it has never occured to me to work this way. all the best for you!

[surtiml]

The fact of the matter is continually guaranteeing security in all exchanges. There are elective shut chains truly are turning out and numerous altcoins are additionally out in ICOs and Airdrops, however this things are dependably at our own hazard. It is dependably up to us on how we understand on whats going ahead with the market that we are into.

[wsps941031]

Thanks Gavin for sharing this. as well as maintain a secondary mail and erc20 address is good at all the time

[folder sahed]

Yeah definitely if we are investing on alternative coins we should invest less on what you think is budget wise in in terms for investments you made. Because you should never take a higher risk for something which is not yet tested although in pin your interest regarding their advertisements and try and experimenting first to test if it succeed then go ahead invest if not stop.

[Reid]

hello! thanx for that instruction. i like the piece about using machine without anything important, it has never occured to me to work this way. all the best for you!

Yeah. This is where they got it all wrong from the start.

I guess they are too much excited to run it and never had the idea of being inflicted with a virus or anything. Worse part everything must be deleted.

They jump in and just never even think about it. Seeing how much the profits came in from other users telling stories they tend to make decisions without even thinking twice.

[Yowlahe]

The fact of the matter is continually guaranteeing wellbeing in all exchanges. There are elective shut chains truly are turning out and numerous altcoins are likewise out in ICOs and Airdrops, yet this things are dependably at our own hazard. It is dependably up to us on how we understand on whats going ahead with the market that we are into.

[Umbrella Holdings]

That’s so true. I totally agree that people shouldn’t  invest more money or time than they can actually afford to. Making some investments are giving us hope about future but we should never forget to do good research and be safe before making an investment.

[madlex]

I don't think that the blockchains have solved the security problems. There are many hackers use the copper leak to get huge amounts of money. That's what we should be paying attention to. Blockchain technology needs to be updated.

[Mrsparks]

Good advice but in my opinion I think the dominance of the bitcoin is just a psychological thing.. There are other blockchain with way more functionality and profitability compared to bitcoin. For me am a huge fan of ethereum..

[roverboi]

I'm very glad that the Block Chains now offers more protection than ever before.There is no comparison with this decentralized network.So keep your password be hidden and be safe.

[tuapoma]

hey guys, Dash Masternode, merchant counts reach all-time high despite bear market. The Dash masternode count reached a new all time high of 4798!

[shaheer001]

Thanks alot for sharing such a informative post and in this thread i learn more today from thread replying some senior experienced members.

[Jimmygentle]

I think everybody should check out @stakertoken on Twitter it's an amazing opportunity guys

[GreenAnat]

Yes, Gavin's advice is relevant, even after many years
Cryptocurrency is quite risky, especially with the protracted bear's market. Therefore, cryptoworld involved while a very small percentage of people who do not have sufficient knowledge in this field and do not want to develop.

[tuapoma]

Coinbase announced via a Medium blog post that the Coinbase Custody division will be evaluating the addition of 37 more coins, including Dash.

 

[Alex Hales]

Really Bro it is good advice!!! I am sure I will definitely try this suggestion. But for safe side i will use different password.

[TatiNet]

All sorted out. Happened ! Thanks for the help))

[skisport92]

I concur blockchain is a somewhat great innovation. Yet, you must be watchful when you are working with cryptographic forms of money. There are numerous hazard factors.

all I see in bitcoin the final product. if we consider it as a passing stage of improvement of the financial system, it will be easier to avoid many mistakes in investing!