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Author Topic: Is there a Fake Bitcoin?  (Read 534 times)
NavI_027
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August 12, 2020, 09:52:06 AM
Merited by gentlemand (2)
 #21

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how do we know?

Same question!
I am also wondering about if there is a fake bitcoin. 🤔 Coz I never heard any news about it. Well there is, I hope that these coins are easy to spot if it is fake or not for the scammers not to be able to use these coins frequently because those who will be involved in their scams are so damn pitiful.
Guys no offense but aren't you reading? There are already few replies regarding this issue. Let me repeat, there is no fake actual bitcoin; you know, like a fake dollar which got the same looks, same texture and everything. However, we have bitcoin forks which we can consider fake since they are clones. They are actually different coins but somehow steals bitcoin's branding Cheesy.

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August 12, 2020, 09:57:59 AM
 #22

Yes.

It's called Bitcoin Cash.

Smiley

Another one is Bitcoin Satoshi Vision.

There are a lot of forks out there using Bitcoin's name to make them appealing to the public (I guess).
But like Poker Player said above, Bitcoin Cash is the trickiest of all of them since their website is bitcoin.com and all over the place their coin is called Bitcoin, instead of Bitcoin Cash.
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August 12, 2020, 12:08:03 PM
 #23

Yes.

It's called Bitcoin Cash.

Smiley

Another one is Bitcoin Satoshi Vision.

There are a lot of forks out there using Bitcoin's name to make them appealing to the public (I guess).
But like Poker Player said above, Bitcoin Cash is the trickiest of all of them since their website is bitcoin.com and all over the place their coin is called Bitcoin, instead of Bitcoin Cash.

and perhaps the main purpose of Bitcoin Cash is to trick investors into being tricked by it, by admitting that Bitcoin Cash is true Bitcoin and not Bitcoin made by satoshis. The point is if there is a new bitcoin with the first name "bitcoin", it is certain that it is not bitcoin, but altcoin. like China, which is good at imitating the famous products of other countries but with different names and of course with different qualities.

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August 12, 2020, 12:53:47 PM
 #24

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

Al altcoins are Facke bitcoin, because they take the bitcoin source code and create new coins.

All the Forks are fake bitcoin too because they take the main blockchain and split it while getting a new coin.

Even we have fake satoshis, some users claiming they are satoshi. So, just don't believe everything you read Wink

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August 12, 2020, 01:25:28 PM
 #25

I absolutely learned from all those opinions that you guys had been shared here. Thank you so much for the additional knowledge. So deeply appreciated.

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August 12, 2020, 01:46:20 PM
 #26

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

Al altcoins are Facke bitcoin, because they take the bitcoin source code and create new coins.

All the Forks are fake bitcoin too because they take the main blockchain and split it while getting a new coin.

Even we have fake satoshis, some users claiming they are satoshi. So, just don't believe everything you read Wink

I wouldn't say that altcoins are fake Bitcoin because they use the same source code. They are varieties of crypto they just use the same technology and source. They would be fake when some coins would claim to be Bitcoin and use the same name and they are not, which is possible only in theory because in real life this would be revealed instantly.

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August 12, 2020, 02:00:09 PM
 #27

From my personal view to there is fake bitcoin. This is used by the scammers, in specific people have a simple understanding about bitcoin as a virtual asset that doesn't have any physical state as the traditional currency. This is been used by the scammers as an advantage and used to send just numbers and make money out of it. This is what I state a fake bitcoin.

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August 12, 2020, 02:13:00 PM
 #28

banknotes can be counterfeited in the exact same way as the original by reprinting but not using the same material as the original, bictoin forged with a hard fork and different from the original, maybe that is the difference between counterfeit banknotes and fake bitcoin.
and bitcoincash, one of which is fake bitcoin.

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August 12, 2020, 02:18:48 PM
 #29

All coins that use the name Bitcoin, like all Bitcoin forked, can be said to be fake Bitcoin. Unlike fake money, which does not apply
when used and also violates legality. Meanwhile, fake Bitcoin is still valid and can be used as an investment. So from that fake Bitcoin
alone can provide profit, especially real Bitcoin is definitely more valuable.

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August 12, 2020, 02:38:07 PM
 #30

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

There are many kind of fake Bitcoin some coin use the name of Bitcoin and some of them comparing bitcoin to their coin. Actually in our country many people are not knowledgeable about bitcoin so when the scammer compare their coin to bitcoin they will believe and invest their money.

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August 12, 2020, 03:24:48 PM
 #31

I do not think that this is possible to implement due to the specifics of the system. Therefore, bitcoin is also safer than fiat.

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August 12, 2020, 04:02:03 PM
Last edit: August 12, 2020, 04:33:08 PM by BitcoinFX
 #32

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

Al altcoins are Facke bitcoin, because they take the bitcoin source code and create new coins.

All the Forks are fake bitcoin too because they take the main blockchain and split it while getting a new coin.

Even we have fake satoshis, some users claiming they are satoshi. So, just don't believe everything you read Wink

Nope.

Altcoins are not fake bitcoins, some are genuine and unique projects, especially if they have their own chain from block 1 (0).

A code fork is not necessarily a chain fork off of Bitcoin.

See: "Topic: The paradox of Bitcoin Cash"
- https://bitcointalk.org/index.php?topic=4663094.0

and I quote satoshi ...

A second version would be a massive development and maintenance hassle for me.  It's hard enough maintaining backward compatibility while upgrading the network without a second version locking things in.  If the second version screwed up, the user experience would reflect badly on both, although it would at least reinforce to users the importance of staying with the official version.  If someone was getting ready to fork a second version, I would have to air a lot of disclaimers about the risks of using a minority version.  This is a design where the majority version wins if there's any disagreement, and that can be pretty ugly for the minority version and I'd rather not go into it, and I don't have to as long as there's only one version.

I know, most developers don't like their software forked, but I have real technical reasons in this case.

...snip...

The majority version remains BTC  ...

and no I'm NOT satoshi, I've simply been here for too long. I don't know why I still bother really.

Guess I'm a Genuine "Bitcoin OG" <2010 | Bitcoin is BTC | CSW is NOT Satoshi Nakamoto | I Mine BTC, LTC, ZEC, XMR and GAP | Support my BTC on Tor addnodes Project ... satofxsc3xjadxsm.onion shindo45rxrk3737.onion naka7nzsu3binfim.onion motoixfjxnf4joga.onion | "Everybody's Got Something to Hide Except Me" and My Monkey"
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August 12, 2020, 04:22:11 PM
 #33

Anything outside of the current bitcoin ( btc ), hence forks, aren't real bitcoin imo.  Anything operated by both Craig Wright ( Bitcoin SV ) or Roger Ver ( Bitcoin Cash / Bcash ) , I'd especially consider a "fake bitcoin".

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AakZaki
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August 12, 2020, 06:08:43 PM
 #34

Many fake bitcoins are created, claiming to be better than real bitcoins.
this is a common thing that many developers create other coins that will rival real Bitcoin. Fake Bitcoins certainly create a fork that seems to want to say they are the real Bitcoin.

Bitcoin is still Bitcoin and cannot be counterfeited. If there are other coins that have the first name Bitcoin, it can be ascertained that they are only forked coins such as Bitcoin Cash, BSV, BTG and others.

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August 12, 2020, 06:34:57 PM
 #35

Yes.

It's called Bitcoin Cash.

Smiley

Another one is Bitcoin Satoshi Vision.
Nice answer I was about to say the same thing all of the fork of Bitcoin are fake and they claim to be better and to be the real BTC while they are just an imitation of the true BTC.
This is really funny how they keep on insisting that they are the real BTC and what's even funnier is that there are people who strongly believe and supports them.

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August 12, 2020, 08:00:19 PM
 #36

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

There are many fake Bitcoins out there. Infact they are more than you could ever imagine.
Another fake bitcoin is coming soon. And that's Bitcoin Black. I know charcoals is important but charcoal is never a currency so I'm still wondering what bitcoin black is.

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August 12, 2020, 08:11:26 PM
 #37

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

That is actually a good topic that many users like me can think about since I have never considered the fact that having a face Bitcoin but I thought about would be called as Alternate Cryptocurrencies but I guess it does not work that way.

Seeing Bitcoin Cash in the comments made me realize to research more about it since people are saying it was a good fork. I always thought forks are for when the volume is going overboard and they wanted to lessen the volume of where they are going to do a fork.

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August 12, 2020, 08:23:18 PM
 #38

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?
Yeah there are lots and if you do try to search up on CMC then you can find these Bitcoin shitcoins.


BitcoinCash(BCH)
BitcoinSV(BSV)
BitcoinGold(BTG)
BitcoinDiamond(BCD)
BitcoinPos(BPS)
BitcoinHD(BHD)
Bitcoin 2(BTC2)

Lots of fake eh?

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adzino
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August 12, 2020, 08:39:31 PM
 #39

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?
There is only "bitcoin". Any coins that say that they are the real bitcoin are the fake bitcoin. Most of the coins that got forked claims that they are real bitcoin. Don't listen to them. If they are the real bitcoin, why they called "bitcoin + something" instead of being "bitcoin"? Lol.
If you are taking about creating fake bitcoin within the bitcoin network, no it is not possible. You can't counterfeit bitcoin (on the same chain) like you can do with fiat currency.

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August 12, 2020, 08:41:42 PM
Last edit: August 13, 2020, 12:47:38 PM by NotFuzzyWarm
 #40

In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

That is actually a good topic that many users like me can think about since I have never considered the fact that having a face Bitcoin but I thought about would be called as Alternate Cryptocurrencies but I guess it does not work that way.

Seeing Bitcoin Cash in the comments made me realize to research more about it since people are saying it was a good fork. I always thought forks are for when the volume is going overboard and they wanted to lessen the volume of where they are going to do a fork.
As others have already said here only Bitcoin is Bitcoin and yes there are already many 'fakes' such as BCH, BSV and others that are wannabe kings of crypto and are using "Bitcoin" as part of their name despite the fact that they are ALTCOINS that have nothing to do with BTC proper.
Quote
since people are saying it (Bitcoin Cash) was a good fork
Bull. Just as with most altcoins, those coins are made for only 2 reasons: self-serving greed & hubris. Greed in that before being released to the public the creators massively pre-mine the coins to get a nice stockpile and then hubris kicks in as they try to convince others that their coin is somehow better than BTC so their stockpile of pre-mined crap coins are actually worth something.

Using the word 'fake' implies 'counterfeit' and the possibility to (fraudulently) spend it exactly like the real thing. Not the case here. The other coins *are* valid coins in their own right and do have value but they are NOT interchangeable with BTC

All non-BTC coins have their own blockchain, address formats, wallets and most importantly - value. You cannot spend BCH et al to buy something looking for a BTC address for payment. Sometimes a site will blissfully accept you sending the wrong coin to a BTC address but it will NOT register as a valid payment. Even more fun is that the crap coins you sent possibly may never be recovered, partly depends on how nice the site operators are and exactly what crap coin you tried to use.

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