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Author Topic: bitcoin and crypto and fiat currency  (Read 575 times)
Warkop
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October 14, 2020, 06:11:11 AM
 #41

you cant fake fiat currency and if you do you got problems with law.
how we know the btc and crypto is not faked...it means the creators can create any ammount of crypto as they want as there is no law to legit forces to check over btc and crypto creators
I think fiat currency can be counterfeited by people who want to make a profit by counterfeiting fiat, but if it is seen or discovered by the law then you are right it will be dealing with the law, but for BTC and crypto in my opinion it cannot be counterfeited because of Btc and crypto not printed or manufactured like fiat. I am confused by what you are saying that Btc crypto can be forged, I think you should delve a little deeper to understand how Bitcoin is made and other cryptos.

Shasha80
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October 14, 2020, 06:32:18 AM
 #42

One of the advantages of Bitcoin compared to fiat currency, because it is impossible for Bitcoin to be counterfeited. Because Bitcoin
with blockchain technology makes Bitcoin transactions transparent, transactions can be tracked. This is one of the reasons why Bitcoin
cannot be counterfeited. Meanwhile, fiat currency is very easy to counterfeit, i even read some news related fiat which is faked with
just regular printers. This gave me goosebumps, because I was sure the number of counterfeit fiat circulating in the world must be enormous.
So actually using Bitcoin is safer than using fiat currency, but the majority of people are not ready to accept Bitcoin as a means of payment.

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witcher_sense
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October 14, 2020, 06:56:04 AM
 #43

counterfeiting bitcoin is impossible, fiat money is easy to counterfeit and happens a lot, bitcoin has not had any news until now that it can be faked that I know. maybe there are additions please cross out.
If you look closely at the definition of counterfeit, you will probably notice and come to conclusion that fake bitcoins should not necessarily be "forged" on original blockchain, they merely need to look almost identical to the original bitcoin. Those counterfeit bitcoins can be run as forks of bitcoin or on completely different blockchains, they can use the same abbreviation and symbols, etc. Counterfeiters can use misleading website domains to attract more users and make them buy their fake bitcoin. Bitcoin(.)com is a great example of counterfeiting original bitcoin. So, bitcoin can be easily counterfeited but that trick does work only with inexperienced and careless users. For others, more experienced users, it is usually a trivial task to check the authenticity of bitcoin and the authenticity of information about it.

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budi691
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October 14, 2020, 08:33:49 AM
 #44

I don't know much about Bitcoin, I can only understand a small part, but I think Bitcoin is made not easy to counterfeit, if Bitcoin can be counterfeited maybe the price is not this high, and everyone believes there are only 21 million Bitcoin
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October 14, 2020, 10:29:46 AM
 #45


I think fiat currency can be counterfeited by people who want to make a profit by counterfeiting fiat, but if it is seen or discovered by the law then you are right it will be dealing with the law, but for BTC and crypto in my opinion it cannot be counterfeited because of Btc and crypto not printed or manufactured like fiat. I am confused by what you are saying that Btc crypto can be forged, I think you should delve a little deeper to understand how Bitcoin is made and other cryptos.

As for Bitcoin, everything is thought out and reliable. Although there are cases in cryptocurrency, like tether when the number of coins can be increased in any amount. And this moment should be alarming. There are many discussions around the tether, you can study the information on the forum if you wish. As for bitcoin, I will repeat myself, but here everything is stable in terms of quantity.

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roadrunnerjaiv2025
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October 14, 2020, 10:41:44 AM
 #46

The reason it's called cryptocurrency is that cryptography is used to prevent such thing from happening. You should review Bitcoin basics, especially Satoshi's white paper. You'll understand how bitcoin works and how double spending and/or forgery is almost impossible. It all has to do with blockchain's structure. (If I'm referencing it properly)
Emitdama
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October 17, 2020, 03:52:57 PM
 #47

you cant fake fiat currency and if you do you got problems with law.
how we know the btc and crypto is not faked...it means the creators can create any ammount of crypto as they want as there is no law to legit forces to check over btc and crypto creators
If that was possible don’t you think that a lot of bad people would have been attempting to do it?

Faking of currency is not a new thing, and people have been doing it for a long time and it happens where I live , when you go to a store to buy some stuff and pay them, they lift the money to check whether it’s a counterfeit or not, sometimes it’s funny to me but I wouldn’t blame people, they are doing what they have to do.

Apart from the time that Bitcoin had some kind of fault that made the amount of BTC to increase, which we know it was quickly fixed, I haven’t seen any other issue that comes close to this.
boss1dg
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October 17, 2020, 04:35:06 PM
 #48

by fake you means creating copy of bitcoin or spending same coin more than once.
I bitcoin network once you send a transaction it takes some time to process, so suppose you send 2-3 transaction of 1 btc while your balance is just 1 btc only. Then any random node will process one and reject others. Similarly all other nodes will remove all those from their memory. So mathematically it is no possible to copy the transaction which we call as double spend.

Regarding supply, it has fixed supply and codes are publicly shown. So it is the currency which has no printer like native currency of many countries.

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October 17, 2020, 04:58:34 PM
 #49

Bitcoin is not fake; it's a profitable currency. You can see this big community is based on bitcoin currency.
You can first understand blockchain technology, bitcoin is a blockchain product, and you have to learn first about it.

On the top, it's uncontrollable. Even the owner of bitcoins creator can not control or stop it.
Bitcoin can never consider as fake, but most of the scammer uses it for scam and make it unfamous.

+_-
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