Maybe I can add what warren buffet quotes is "Rule No.1: Never lose money Rule No.2: Never forget rule No.1.
Everything is back to you.
Topic: Alternative Block Chains : be safe! - page 80. (Read 1621635 times)
I totally agree with Gavin's opinion.
Maybe I can add what warren buffet quotes is "Rule No.1: Never lose money Rule No.2: Never forget rule No.1.
Everything is back to you.
Maybe I can add what warren buffet quotes is "Rule No.1: Never lose money Rule No.2: Never forget rule No.1.
Everything is back to you.
I missed that is was a post from 2011 
. I mean Altcoins have changes a lot ... a lot. Gavin's point of view probably too.
. I mean Altcoins have changes a lot ... a lot. Gavin's point of view probably too. 
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.
I think this old post of Gavin Anderson is somewhat misleading. Regarding current situation with bitcoin, it is definitely necessary and absolutely possible to switch to a brand new chain without the risks Gavin is frightening us about them.
1- People can simply switch the chain using exactly the same code base that bitcoin uses now!
2- This switch can take place with some minor improvements in the code (not necessarily with small impacts) which can be verified by public and
maintained easily in a parallel thread with the mainstream development process.
And what would be the catch?
1- We can fix the ASIC nightmare by injecting some 1 GB or so memory footprint to SHA256. Actually I have an Idea for this.
2- We can reconsider block time, block size, ... in accordance with the state of the art.
3- More importantly, we can get rid of miner corporates' and core devs dominance at the same time.
We may fail, not because of security issues (bitcoin code base that we eagerly use is secure more than enough) but because of lack of enthusiasm and commitment. No worries, I'm here for a while, waiting for people who are sensitive enough to become bored with the current 'Game of Thrones' play in the btc space and wise enough to stick with the code rather than trying to imitate Vitalik like a fake cartoon.
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.
Thank you Gavin for this piece of information. As the community is growing there will be less and less members that are computer literate and won't be able to do their own due diligence. I am one of them, I can't read code. Do you have a specific Alt-coin in mind ? Do you think that the top 10 network are safe ?
Also the early adopter excitement is what keep this going on. If only bitcoin was available, then new comers might refuse to pay tremendous amount for 100 SAT when they know some early adopter have thousands of bitcoins. And new comers give a shot to a "cheap network" ... just like you did few years ago.
Gavin if you read this it would awesome if you could reply
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Victor
Nice posts what I see and good topic to be safe in altcoins. If you read the whitepaper and test the code what the altcoin has, than you can lear a lot about it. June first we are launching a new project Dcorp.it (if you want I would be happy to tell more about it) but we focust on transparanty in every possible way. That's one of the importants things I would look at when to invest in a new project. Myself I invested in Mobilego they raist more than 40 million. Good luck!
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.
Good afternoon pack a little question from me who might be a good suggestion for me ..Has many alt-miners do you have no trouble in running the system?
Or you ask someone to work for you?
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.
I use separate passwords for each wallet i have so that if one password gets compromised, my other passwords are still safe. I also use a password generator so that my passwords will be harder to decrypt.
Using an alternative crypto key client would be a great way to get many people to install hidden viruses targeting Bitcoin users.
Some people have only one computer and it definitely sucks.
Fortunately a few decades ago they found a virtual machine. Now anyone can have as many computers and OS as they like
Some people have only one computer and it definitely sucks.
Fortunately a few decades ago they found a virtual machine. Now anyone can have as many computers and OS as they like
Having two different passwords for each alt-coin or website isn't that hard. You could do all the generating on an offline computer (where you probably have your offline transaction signing bitcoin client, like Armory). All new passwords for new websites, get to be typed by hand. 12 to 16 characters ought to be enough for a start, then when you get more serious about it, you can extend your password or passphrase length. I consider my office desk and my home table secure enough that I can write down whatever password I needed on paper. Offline. Or, as Bruce Schneier says, stick it in your real life wallet.
yeah I too so, always use a different password on every transaction and I also use a different password on every account I
No harm in taking every precaution with new software involving money.
Yeah, indeed we must use a system or piece of software that does indeed provide good security in money that we have. But not all new software provides the same security, so as to be able to get a proven software security then we should be able to do a test run in it.You never affected using some software that offers a convenience thing, because sometimes the software only give something useless. find the software you need, not you want!! 
Yes actually the most secure is to install bitcoin wallet on your computer!
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers
I also believe that the most safe way to store them is the local budgets. But I still really like the idea of storing them on your phone. Also it turns out local purse, only always close
Yes actually the most secure is to install bitcoin wallet on your computer!
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers
Just stayed Backup every day to keep watch if our computer is damaged
Nothing is safer than Bitcoin wallet in addition to personal computers
if you have large amount of btc than you must generate address with multiple sign keys start with 3 instead of 1 than you only install bitcoin wallet in your machine and store btc their and don't use and install any thing in that machine this is best way to secure your btc.
Bitbay are about to release a rolling peg
I say buy coins with proper tec behind them!
David Zimbeck is crypto's Bill Gates. He's created BitHalo, NightTrader, 1st true decentralised market, crypto's only double deposit smart contracts (trustless), cold staking and pay via email.
Bitbay is his coin and will explode once he has finished created another crypto 1st which is a rolling peg. All to be finished within 2 months.
I'm expecting big gains once the rolling peg is implemented.
Everyone will jump into bitbay to hold onto their assists during dumps. It's going to be huge!
It's going to be a huge thing! All the investment companies that deal with Bitcoin will be buying bitbay for this reason! We are talking possible billions of dollars
I say buy coins with proper tec behind them!
David Zimbeck is crypto's Bill Gates. He's created BitHalo, NightTrader, 1st true decentralised market, crypto's only double deposit smart contracts (trustless), cold staking and pay via email.
Bitbay is his coin and will explode once he has finished created another crypto 1st which is a rolling peg. All to be finished within 2 months.
I'm expecting big gains once the rolling peg is implemented.
Everyone will jump into bitbay to hold onto their assists during dumps. It's going to be huge!
It's going to be a huge thing! All the investment companies that deal with Bitcoin will be buying bitbay for this reason! We are talking possible billions of dollars
If I correctly understood you, then Bitbay it crypto currency which shall appear soon? And at what exchange plan it to sell? And whether it is possible to learn more information on it somewhere? If everything is as you speak, then I too not against to get profit.
I thought there is new blockchain bec it says " be safe" then saw the date and I realized this post were about those old days of blockchain. I guess, blockcain is fine now and being still a newbie, security measures are strong. Just dont forget to back up and download paper wallet just in case something went wrong. We have to be careful because its about money. Right?
And I recently got hacked. And all because I lightly to safety. Now everywhere all levels of safety included. And put passwords complex and setup authorization 2fa and even confirmation by phone.
Only bitter experience teaches treated with seriousness to more security! Be carefully my friends!
What alternative blockchains are you using it? I only use blockchain.info
bitcoin is d best
yes indeed bitcoin is the best coin in the digital world as it is today, traffic bitcoin which continue to climb, make hunting more excited bitcoin on what kind of coins is this applicable
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