Topic: bitcoin and crypto and fiat currency (Read 591 times)

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.

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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.

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.

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.

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)

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.

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

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.

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.

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.

bitcoin is a cryptography-based virtual currency.  bitcoin cannot be counterfeit, but Bitcoin technology which is based on blockchain technology provides an attractive option for cybercriminals.  With the operation of Bitcoin as a decentralized currency, people can make transactions without intermediaries such as banks or other financial institutions.  without intermediaries this allows Bitcoin users to gain anonymity and an impenetrable level of confidentiality from third party interference.  and in 2015 the founder of Silk Road, an underground digital marketing platform that facilitates the sale of illegal drugs, was sentenced to life in prison for transacting $ 1 billion in bitcoin.

limited supply is not really factor to drive price up and gives legimatly the main reason for currency or asset is how much its needed !
right now it seems btc is needed.

the trust score dont mean i can undestood how the eaxcly the btc is working!!

im not a einstein not satoashi i really dont know about blockchain and bitcoin that much!

I think you misunderstood how those limited supply stated in coinmarketcap means. And though there is no law about these cryptocurrency supplies but creators should not recreate more of those. I wonder how'd you say btc and otber crypto coins are possibly faked. There is a "mining" proccess for those coins to br existed.

In fact, it's easier to counterfeit fiat currency than counterfeit bitcoin, and counterfeiting money costs the world economy billions of dollars.
Up to now I have never seen any fake bitcoins appear, but I have met a lot of counterfeit money in real life. That said, bitcoins cannot be counterfeited and fiat currencies are easy to counterfeit.

LOL are serious?
You want to know if we could fake BTC? Then the answer is yes there are already fake BTC circulating around and claiming to be the real BTC.
But it is not like how it is done in Fiat that they are very similar here in crypto the fake BTC have name extensions  .

BTC is not that easy to fake especially that it has only a limited supply and it is monitored.

Compared to fiat currency that doesn't undergo any process when making transactions.

It is really hard to fake something that is in a digital form, especially money, it has regulators and platforms that are really secured and strict when being accessed. Also paper money are easy to fake because it is not that hard to replicate one when you have the tools. Blockchain technology is really our future, it is much secure and much well-regulated.

Bitcoin can't be faked but you have to understand one thing. The word "crypto" includes Bitcoin because it is a cryptocurrency but it is something very different and very similar too. In a way, you put bitcoin in the same category with every other cryptocurrency with your above sentence. This is a common mistake many people do.

First of all, Bitcoin can't be faked. I don't know if other cryptocurrencies can. Bitcoin is supported by a community that is at least ten times better from the rest cryptocurrencies. When you say the word "crypto" most people that have some experience don't like that for many reasons. This word was created to reduce Bitcoin and to expose it to the many weaknesses of the altcoin industry, weaknesses that Bitcoin doesn't have on its own. The code is there it is open source and Bitcoin doesn't have anyone to steer the wheel left or right, but it is the decision of all that paves the way.

"Crypto" is a marketing term and not welcome to use next to Bitcoin because of the many fallacies in the approach of altcoins. At least you separated BTC and crypto in your post so you are on the right path.

To understand how Bitcoin works read the whitepaper , written by Satoshi Nakamoto and released in 2008. This is where you must start. The next step is the bitcointalk forum and you are already here but you skipped the step of researching how Bitcoin works. Don't worry most of us have done the same mistake but after some time comes the realization that we have to start again from the beginning.

Perhaps you can also watch a few very educational videos created by some very brilliant people of Bitcoin as Andreas Antonopoulos to get educated further. The bitcointalk forum is excellent for your education on Bitcoin and it has helped me and keeps helping people with expanding their knowledge.

You are a trusted person 100% in LocalBitcoin yet asking this question?

and also creating many threads that can show your activities and knowledge abount cryptocurrencies here

https://bitcointalk.org/index.php?action=profile;threads;u=2835857;sa=showPosts

Shows that you are only trolling here and not really Noob about what you wanted to portray .

From this useful post
This is what miners use to contribute to Bitcoin's blockchain network. We all will not be able to manipulate the chains the miners have created. The data is clear, so there will be no momentum to commit fraud.
In contrast to FIAT, which uses paper media to make it. Not everyone has a better understanding of real or fake money. Because the physicality of an object can be copied by anyone who has the intention to duplicate it

With blockchain technology it does not allow Bitcoin to be counterfeited, in contrast to fiat which is very easy to fake.
Or it's easier if you search on google, I've never found an article that says Bitcoin has been faked. Very different from
fiat, you will find dozens of articles from all over the country related to fiat. So in my opinion it is impossible for Bitcoin
to be counterfeited, even though I am not a programmer, but I took the time to learn how the blockchain technology
that Bitcoin uses today. So you can understand that Bitcoin is impossible to counterfeit.