Topic: Alternative Block Chains : be safe! - page 73. (Read 1623371 times)
However, blockchains of the future (or networks that will replace blockchain) are still yet to come. Many restrictions of current blockchains need to be overcome to scale efficiently.
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.
The alternative block chain must be safe because it has been a source of income to many people. This alternative block chain has already helped so many people and from that it has been a very good help to everyone. Knowing that this block chain has provided financial needs of the people.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.
Safe in blockchain is very important. If there is a security weakness, the system will disappear completely.
So, how about a decentralized regulator for all these blockchain ? In other industries we have "standards" bodies. Why not such a thing here ?
You can't just put "decentralized' and 'regulator' in one sentence. It beats the purpose of it being called decentralized, in short That doesnt make sense. The very thing about these cryptocurrencies is that no one can hsve control over it except you yourselves who have control over your wallets.
On the other hand, I have nothing against alt blockchains. Instead just like most people here, they love it. Take for example ETN and the upcoming UTN. New blockchains indeed but what can they offer? =)
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.
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.
To this I would summarize not to invest fiat money or BTC
First of all, big thank goes to Mr Gavin Andersen 
. You have explained important things here that we should consider.
In my opinion,
Nothing is permanent,
Every one who lives on world have lost many thing already, It couldn't be changed. The only thing we can do
follow rules carefully.
there for no need to hesitate
to doing this but do it carefully.
Thanks
. You have explained important things here that we should consider.In my opinion,
Nothing is permanent,
Every one who lives on world have lost many thing already, It couldn't be changed. The only thing we can dofollow rules carefully.
there for no need to hesitate
to doing this but do it carefully.Thanks
No one is immune from losing money. You have to be careful when working with crypto-currencies. There are many risk factors.
the more crypto the more risk. and it is more difficult to store safelyThat's true !!!
No one is immune from losing money. You have to be careful when working with crypto-currencies. There are many risk factors.
the more crypto the more risk. and it is more difficult to store safely
A new cryptocurrency gives us the opportunity to achieve something greater because each project behind it is bringing something new in this world. I think more altcoins is better to us to invest coin, cause BTC is so expensive 
So, how about a decentralized regulator for all these blockchain ? In other industries we have "standards" bodies. Why not such a thing here ?
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.
That's a good piece of information.
Cool ................
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.
That's a good piece of information.
nice advise
Before you invest in any alternative blockchain - RTFWP!
Read The F Whitepaper!
Read The F Whitepaper!
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.
yes, I only have one computer but to secure it we make a complicated password and often replace it maybe it's one way The point is always ensuring safety in all transactions. There are alternative block chains really are coming out and many altcoins are also out in ICOs and Airdrops, but this things are always at our own risk. It is always up to us on how how we comprehend on whats going on with the market that we are into.
Yes that's complitely true we need to truly understand on the market we are dealing on !!
The point is always ensuring safety in all transactions. There are alternative block chains really are coming out and many altcoins are also out in ICOs and Airdrops, but this things are always at our own risk. It is always up to us on how how we comprehend on whats going on with the market that we are into.
How can you prove that transactions are safe?
This is comprised of a number of elements as I am sure you already know - transparency of the public code with strong third party analysis ... ethical hacking to examine the veracity ... hackathons ... without that I would hesitate to invest or use ... a lot of vaporware ... also the mining technique ... in our view PoW is best for security but creates scalability and cost issues ... PoS is the logical alternative [see ETH fork] ... safer if the network is at critical mass and less so with nascent chains ... control over the chain is the key ... next issue is control of the cryptocurrency or cryptoasset ... take a look at the abacas exchange as the dev is driven by the concerns that you have - building a better mousetrap
The internet is not built on alternation networks its built on layers.
We need this in the crypto space.
Layers of blockchains.
We need this in the crypto space.
Layers of blockchains.
@ The Abacas Exchange we call them clusters ... not really a layer but conceptually similar
Speaking of alternative Blockchains...
https://cointelegraph.com/press-releases/has-xtrabytes-already-rendered-the-top-cryptocurrencies-obsolete
This coin says it has something called PoSign or something. Not PoW or PoS i think, but not really sure.
This article was just posted on CT, so i havent had the chance to do much research.
But if true, then i guees im gonna have to take a little bite of this cake.
Guees i will do as OP wrote on page 1.
Any thoughts about the article before decide to buy or not?
https://cointelegraph.com/press-releases/has-xtrabytes-already-rendered-the-top-cryptocurrencies-obsolete
This coin says it has something called PoSign or something. Not PoW or PoS i think, but not really sure.
This article was just posted on CT, so i havent had the chance to do much research.
But if true, then i guees im gonna have to take a little bite of this cake.
Guees i will do as OP wrote on page 1.
Any thoughts about the article before decide to buy or not?
Not really !!! still uncertain !!!
How can you prove that transactions are safe?
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