Fake Bitcoin

[gondel]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

[S4VV4S]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

I am guessing this is very possible if an infected version of Bitcoin-qt (or other wallets) travels around.

[Joshuar]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

I've though of this as well,


A complete and utter replica of Bitcoin, down to the genesis wallets etc etc, that would fool everyone into believing it was the real BTC. It would even fool exchanges, and the owners of that fake btc would become multi millionaires overnight as they sell their fake bitcoin on the exchanges..  

[S4VV4S]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

I've though of this as well,


A complete and utter replica of Bitcoin, down to the genesis wallets etc etc, that would fool everyone into believing it was the real BTC. It would even fool exchanges, and the owners of that fake btc would become multi millionaires overnight as they sell their fake bitcoin on the exchanges..  

I believe that could be possible with a 51% and a lot of nodes (though I could be wrong).
And the funny thing is that nobody will know if someone recreated the blockchain 1:1 without affecting anything else, but with a new address that has hundreds of thousands of BTC.

Like I said I could be wrong.

[franky1]

if you stick with the main proper wallets there is no chance of doing any fake bitcoin.

if you use a different wallet. then that 'fake' is..... just another altcoin.

if its not bitcoin, its an altcoin, simple as.

a prime example is bitcoin script, bitcoin 2.0 both of which pretend to be bitcoin, but are not

[Beliathon]

Hello all,
I am wandering if there is or is there will be in the future fake BTC.

Yeah, there already is. It's called Dogecoin.

[Joshuar]

if you stick with the main proper wallets there is no chance of doing any fake bitcoin.

if you use a different wallet. then that 'fake' is..... just another altcoin.

if its not bitcoin, its an altcoin, simple as.

a prime example is bitcoin script, bitcoin 2.0 both of which pretend to be bitcoin, but are not

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity, and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

[BurtW]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

If you have a real bitcoin wallet which is connected to the real Bitcoin network then, by design, this is not possible.  The only way I can see this happening would be if you got a fake wallet that connected to a fake network that appeared to behave like Bitcoin.

Pretty easy to detect since the transactions would not appear in the real blockchain and, of course, you could not spend these fake coins to anyone on the real network.

So the short answer is:  No BTC cannot be faked but Yes a Bitcoin wallet and the Bitcoin network could be faked.

Make sure you have a real Bitcoin wallet that is connected to the real Bitcoin network!

[BurtW]

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity

This would be detected the first time someone from the fake site tried to send the fake BTC to someone on the real network or the first time someone on the real network tried to send BTC to someone on the fake site.  So no, the scam could not "go on for a while"

and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

This would never happen.  Exchanges and miners are very picky about their software and even if the exchange did this they would detect the mistake within milliseconds.

[Joshuar]

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity

This would be detected the first time someone from the fake site tried to send the fake BTC to someone on the real network or the first time someone on the real network tried to send BTC to someone on the fake site.  So no, the scam could not "go on for a while"

and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

This would never happen.  Exchanges and miners are very picky about their software and even if the exchange did this they would detect the mistake within milliseconds.

Gotcha, I was just thinking of ways a potential evil doer could do to spread fake bitcoin around. This is the ultimate potential evil doers plan.

1)Make a exact copy/replica of the real bitcoin, make fake accounts, and transfer bitcoin similar to the way the real bitcoin was transferred from wallet to wallet when it first came out

2)Make multiple bitcoin wallet websites, where the fake bitcoin AND real bitcoin is traded, by sockpuppets, and then real users as the sockpuppets give the look of activity(The fake bitcoin is traded selectively with your sockpuppet accounts/gullible newbies/people who are helping you)

3)Make multiple bitcoin exchanges, each using the fake Bitcoin as the reserve currency all the other currencies are measured against

4) Wait until a actual exchange using the real bitcoin, picks up the fake bitcoin, or wait until a new exchange pops up with a legimitate owner who uses one of the offline wallets by the bitcoin wallet services you have made

5) Sell off all the fake bitcoin reserves you have on your many sockpuppet accounts, while becoming a multi millionaire/potential billionaire, and watch the price of the real bitcoin drop to $1 or less.

6) Get caught and go to jail or worse.

[S4VV4S]

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity

This would be detected the first time someone from the fake site tried to send the fake BTC to someone on the real network or the first time someone on the real network tried to send BTC to someone on the fake site.  So no, the scam could not "go on for a while"

and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

This would never happen.  Exchanges and miners are very picky about their software and even if the exchange did this they would detect the mistake within milliseconds.

Gotcha, I was just thinking of ways a potential evil doer could do to spread fake bitcoin around. This is the ultimate potential evil doers plan.

1)Make a exact copy/replica of the real bitcoin, make fake accounts, and transfer bitcoin similar to the way the real bitcoin was transferred from wallet to wallet when it first came out

2)Make multiple bitcoin wallet websites, where the fake bitcoin AND real bitcoin is traded, by sockpuppets, and then real users as the sockpuppets give the look of activity(The fake bitcoin is traded selectively with your sockpuppet accounts/gullible newbies/people who are helping you)

3)Make multiple bitcoin exchanges, each using the fake Bitcoin as the reserve currency all the other currencies are measured against

4) Wait until a actual exchange using the real bitcoin, picks up the fake bitcoin, or wait until a new exchange pops up with a legimitate owner who uses one of the offline wallets by the bitcoin wallet services you have made

5) Sell off all the fake bitcoin reserves you have on your many sockpuppet accounts, while becoming a multi millionaire/potential billionaire, and watch the price of the real bitcoin drop to $1 or less.

6) Get caught and go to jail or worse.

Sounds like a lot of work.

Why not just Gox everyone?

[ljudotina]

if you stick with the main proper wallets there is no chance of doing any fake bitcoin.

if you use a different wallet. then that 'fake' is..... just another altcoin.

if its not bitcoin, its an altcoin, simple as.

a prime example is bitcoin script, bitcoin 2.0 both of which pretend to be bitcoin, but are not

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity, and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

That's called hard fork. Once majority of users use that version it becomes real bitcoin 

[zimmah]

Hello all,
I am wandering if there is or is there will be in the future fake BTC. I dont mean some alt coin, but fake BTC which someone can send you to your wallet. It will be not as easy as print fake money and give them to someone. But who knows, may be in the future there will be such thing which will cause trouble to the network...What is your opinion?
BR
Gondel

no, because a mayority of the network must agree with the transaction. If the bitcoins are fake the network will reject it.

[gelar24]

I should be more cautious, thank you her info

[TheEvilSocks]

51% attacks and double spends are the only way I know of that should be able to do this.
Double spend will be reverted within a few confirmations, so those won't be effective.
Using a 51% attack it would be much easier, but it would also cost you alot of money! You need to have 51% of the mining hashrate of the WHOLE bitcoin network!

[keithers]

Don't think there would be any way to get confirmations on Fake BTC sent through the network. I'm sure there are people hard at work trying to figure out how to do this...

[gondel]

Don't think there would be any way to get confirmations on Fake BTC sent through the network. I'm sure there are people hard at work trying to figure out how to do this...

There is a possible way to scam someone with fake BTC. I think if someone can somehow make exactly the same wallet of a fake BTC and still your BTC from your real wallet and then delete your real wallet and put the fake one with exactly the same amount of fake coins you will not notice until you make a transaction. This way someone will have time ahead to escape and hide after that.
BR

[Sydboy]

The more popular bitcoin gets the more and more scams, virus's, wallet stealers and all that bad stuff their is going to be.

just make sure you do not open wierd emails or go to to many porn sites (they alllways seem to inject some kind of bad shit via java)

it is going to be a bumpy ride, hold on to your hats

[Joshuar]

What if someone made a a complete replica and starting a phishing website similar to the fake blockchain.info or they made a new bitcoin wallet websitethat was on google, so people created accounts there thinking it was the real bitcoin, when it was the fake bitcoin, and they let the scam go on for a while until the site gained a lot of activity

This would be detected the first time someone from the fake site tried to send the fake BTC to someone on the real network or the first time someone on the real network tried to send BTC to someone on the fake site.  So no, the scam could not "go on for a while"

and they   eventually convinced exchanges to update their wallets to the fake bitcoin wallets on the site, thus spreading the fake bitcoin even more.

This would never happen.  Exchanges and miners are very picky about their software and even if the exchange did this they would detect the mistake within milliseconds.

Gotcha, I was just thinking of ways a potential evil doer could do to spread fake bitcoin around. This is the ultimate potential evil doers plan.

1)Make a exact copy/replica of the real bitcoin, make fake accounts, and transfer bitcoin similar to the way the real bitcoin was transferred from wallet to wallet when it first came out

2)Make multiple bitcoin wallet websites, where the fake bitcoin AND real bitcoin is traded, by sockpuppets, and then real users as the sockpuppets give the look of activity(The fake bitcoin is traded selectively with your sockpuppet accounts/gullible newbies/people who are helping you)

3)Make multiple bitcoin exchanges, each using the fake Bitcoin as the reserve currency all the other currencies are measured against

4) Wait until a actual exchange using the real bitcoin, picks up the fake bitcoin, or wait until a new exchange pops up with a legimitate owner who uses one of the offline wallets by the bitcoin wallet services you have made

5) Sell off all the fake bitcoin reserves you have on your many sockpuppet accounts, while becoming a multi millionaire/potential billionaire, and watch the price of the real bitcoin drop to $1 or less.

6) Get caught and go to jail or worse.

Sounds like a lot of work.

Why not just Gox everyone?

loled.

[Fatpony]

Im not sure that is possible atm, but in few years sure, you may never know.