bitcoin and crypto and fiat currency - page 2.

jossiel

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Quote from: Reid on October 09, 2020, 01:00:55 AM

Quote from: jossiel on October 08, 2020, 06:12:42 PM

Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

you cant fake fiat currency

This is wrong.

If you go turn in on some articles, news or videos, search and you'll get to see how many frauds including fake cash were used by sindicates.

I don't understand if that is a typo error or he really meant it.
Like "You cannot fake fiat because you will be arrested." I think that is the synonym of what he is trying to tell. I hope. Cheesy

He didn't addressed any correction for that.

But if we'll depend to only those words, it's very easy to say that faking fiat is happening. And if what you have explained is what he meant, then that's right. That syndicates or any individual that conducts frauding with fiat will surely get caught and will have their jail time.

Quote from: cryptoboss2020 on October 08, 2020, 06:13:38 PM

Wow so many experts here ?

How do you know about BTC so much?
what is the main source of knowledge?
are you guys all programmers and it tech guys? Roll Eyes

I'm not a programmer but if bitcoin is very much easy to be faked, there has been a lot of it but can't be named the same as bitcoin. They're using forks for it to copy.

pawanjain

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Quote from: cryptoboss2020 on October 08, 2020, 06:13:38 PM

Wow so many experts here ?

How do you know about BTC so much?
what is the main source of knowledge?
are you guys all programmers and it tech guys? Roll Eyes

This forum itself is the main source of knowledge but that is not the only thing. We must know how to use this forum to grow our knowledge more.
This forum has so much of information already that we don't have the need to look for anything anywhere.
Also, being a programmer would be a benefit, we don't have to be a programmer to know about bitcoin. We can know about bitcoin just by reading the articles which are already present on this forum.

abhiseshakana

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Quote from: witcher_sense on October 09, 2020, 02:27:40 AM

In fact, bitcoin is more counterfeit resistant than any fiat money issued by governments. Counterfeiting is very interesting topic to discuss, especially because of the fact that it can be done legally and illegally. We are all aware that illegal counterfeiting is against the law and must be punished, but not many people actually realize that the system of money we have today is essentially legal counterfeiting. Governments and central banks are counterfeiting money every time they create "new money", inflation and debasement of money are no other than legal counterfeiting. Money is being created out of thin air, it has no intrinsic value, it is not backed by anything. Unlike gold, for example, that is almost impossible to copy and counterfeit, paper money and digital numbers can be easily printed. Bitcoin can be counterfeited neither legally nor illegally.

There is nothing we can do with fiat money (dollars) which has complete control over currency warfare in the world. When Bitcoin emerged with the simple goal of eliminating third parties as facilitators of transactions, the World was jolted because it was the first time anyone opposed fiat domination with a system separate from the existing fiat network and even recognized as being more powerful and more up to date.

We need to remember as long as money in any form, internationally recognized currency & cryptocurrency, if it is used as a commodity and traded, there will always be opportunities for manipulation and monopoly from the parties who determine (price maker) in the trade.

palle11

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Quote from: Oshosondy on October 08, 2020, 01:57:25 PM

Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

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

Be deceiving yourself, or maybe you need correction, well that is why you bring it up here. In fiats, people spend fake money, I was given one some days ago, that is why physical fiats can be fake. Unlike bitcoin, only 21 million bitcoin is existing, in a way no new ones can be created except the 21 million, nothing like spending fake bitcoin, it is not possible because no fake bitcoin is existing.

I don't get it with the story of bitcoin being fake. You can only have fake currency in cash when dubious people try to make such fake of their local fiat and which is an offence that can get the person into problem. As for the bitcoin, it is not to be faked except you are being deceived.

proTECH77

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Quote

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

Yes, you will know if BTC and crypto is fake because their are many scammers all over the world looking for people to scam. If really you are BTC and crypto users Know how you would not identify real BTC and crypto in the market.

I think there is a law governing BTC and crypto which only 12.5 Bitcoin can be mined every 10 minutes. Also there can only be 21 million Bitcoin in existence. As you can have problem with illegal Fiat money according to law likewise bitcoin and crypto also have their own law guarding them too.

witcher_sense

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In fact, bitcoin is more counterfeit resistant than any fiat money issued by governments. Counterfeiting is very interesting topic to discuss, especially because of the fact that it can be done legally and illegally. We are all aware that illegal counterfeiting is against the law and must be punished, but not many people actually realize that the system of money we have today is essentially legal counterfeiting. Governments and central banks are counterfeiting money every time they create "new money", inflation and debasement of money are no other than legal counterfeiting. Money is being created out of thin air, it has no intrinsic value, it is not backed by anything. Unlike gold, for example, that is almost impossible to copy and counterfeit, paper money and digital numbers can be easily printed. Bitcoin can be counterfeited neither legally nor illegally.

imstillthebest

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faking everything is against the law and there are corresponding penalties for that .

for fiat , there are cases on the past in which bad guys print fake fiat money . some got caught while some are still going because they target stores or people that are less knowledgeable when it comes to checking the currency if its fake or not , that was also the time where money detector got indemand .

for btc , it cant be fake because theres only one known btc and it cant be duplicated but some coins that have btc on thier names does not mean fake . theres so many ways to check them and we can do something to prevent or stop them without the government or law involved .

TheUltraElite

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Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

you cant fake fiat currency and if you do you got problems with law.

Counterfeit is a crime. Which country do you live in that you say you get in no such problems? I am sure a lot of money launderers are willing to know that. Grin

Quote from: cryptoboss2020 on October 08, 2020, 02:49:09 PM

but.....is ethereum same fakeproof as bitcoin?

You might want to leave crypto as it is if you are getting suspicious of everything. Doubt is something that is detrimental in case you want to invest in any of these coins.

Reid

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Quote from: jossiel on October 08, 2020, 06:12:42 PM

Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

you cant fake fiat currency

This is wrong.

If you go turn in on some articles, news or videos, search and you'll get to see how many frauds including fake cash were used by sindicates.

I don't understand if that is a typo error or he really meant it.
Like "You cannot fake fiat because you will be arrested." I think that is the synonym of what he is trying to tell. I hope. Cheesy

Quote from: cryptoboss2020 on October 08, 2020, 02:49:09 PM

but.....is ethereum same fakeproof as bitcoin?

Oh please. What are you now? Top Cryptocurrencies hater? Roll Eyes

I guess this is the reason why Satoshi left everything for the users.
You have all the answers above this reply, try to marinate them in your brain first.

michellee

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Quote from: cryptoboss2020 on October 08, 2020, 06:13:38 PM

Wow so many experts here ?

How do you know about BTC so much?
what is the main source of knowledge?
are you guys all programmers and it tech guys? Roll Eyes

We are not an expert, but we spend time to learn more to get more lesson. We learn from many sources, especially from this forum, because you can find so many lessons from other people, giving you more info. The main source of knowledge is how you can have a passion for learning, and you can spend your time searching for more details. Some of us know about programming, while others know other fields, but we want to learn something.

adzino

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Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

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

No, you are wrong. You can "fake"/counterfeit fiat currency with ease. It is just that if "you" get caught, you will get into problems. If its smaller amount of bills, highly likely people won't check and will getaway with it. But that is not the case with bitcoin or other crypto currencies (currencies which are legit. Not those shit coins). You can't create "fake" bitcoin. Even the creators of bitcoin can't create "any amount" of coins. As long as the coin is completely decentralized, the protocol can't be changed without majority of people supporting it. You should learn about how crypto currencies and blockchain works

.

Wexnident

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Quote from: cryptoboss2020 on October 08, 2020, 06:13:38 PM

Wow so many experts here ?

How do you know about BTC so much?
what is the main source of knowledge?
are you guys all programmers and it tech guys? Roll Eyes

The age where only those in that field knows knowledge about it is already over man. Anyone can be knowledgeable in different fields as long as you give time in studying it, there's a vast amount of resources available on the internet, and if that isn't enough, you can freely ask people on the know on various forums. They may or may not be saying the truth, but it's not like you're asking only for an opinion of one person, nor are you stupid enough to actually accept whatever opinion comes your way, that's why you have your own brain, to understand things yourself.

google is a thing, using your brain is also another. Might as well use it lest yours degrade into nothingness.

btc_angela

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Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

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

For bitcoin? I doubt that you can fake it, but for the rest of the Altcoins, they can't create enormous supply, and that's why others point out the market capitalisation is not a good gauge because they can artificially inflate it. There are projects that hire third party to audit their smart contracts, but still it is not an assurance that everything will look good in paper.

Debonaire217

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Perhaps, there are teams who audit smart contracts of different projects especially their own cryptocurrency. In this way, it could prove the legitimacy of the cryptocurrency such as if it has the capability to be minted or the total supply is fixed. But I can say, you cannot make a fake cryptocurrency such as those that exist on the contract address of a legit one. You can fake a crypto by creating your own currency with your own contract address. But that was just on the ethereum blockchain. There will be more complex procedures when we talk about this in terms of other blockchains.

Little Mouse

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No, you can't create fake bitcoin. There will be only 21 million BTC in total and all of them are fixed (like- imagine all of the bitcoin has a number and everyone knows the number) so, bitcoin can't be faked. Someone may create fake bitcoin but the due to being decentralized network, there will be no chance for them to use the fake bitcoin. On the other hand, fake notes are being still used. In fact, it's one of the biggest industry in crime world.

wanted sliter

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Blockchain technology can't be tampered with and it's more transparent than any other technology we have. The use of blockchain transaction confirmations ensures that blocks and transactions are recorded in the blockchain ledger.
Bitcoin is mined using the POW method based on miners. They are creating bitcoin and it has real value. Bitcoin cannot be tampered with, it's transparent on the blockchain.

cryptoboss2020

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Wow so many experts here ?

How do you know about BTC so much?
what is the main source of knowledge?
are you guys all programmers and it tech guys? Roll Eyes

jossiel

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That's an absurd question.

Bitcoin cannot be faked. There's only one chain where bitcoin is running and the faked bitcoins that you probably are thinking are those bitcoin forks.

Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

you cant fake fiat currency

This is wrong.

If you go turn in on some articles, news or videos, search and you'll get to see how many frauds including fake cash were used by sindicates.

DarkDays

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Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

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

]

There are measures in place for this, and one of them is called 'proof of work'. This is to say that on the blockchain a miner needs to have a 'code' if you want to call it that which proves his addition of the block to the blockchain. Since, the consensus is that once blocks are added to the blockchain these are immutable one in theory can't fraud any parts of the block to say they mined it as they one won't have proof of that block and second they can't delete it in an attempt to fabricate the proof of work.

Additionally, all of this is on the network and can be accessed by pretty much anybody, and so because this can be checked, it acts as a counter-check against false crypto assets (which you can think of them in terms of blocks).

Thus in theory any attempt of illegitimate crypto mining or crypto coin/token won't be allowed or permitted on the network (unless, somehow, maybe Huh

they'll be tweaks to the smart contracts but this I'm not sure is possible)

claire_lovely

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Quote from: cryptoboss2020 on October 08, 2020, 01:14:47 PM

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

The supply of cryptocurrencies is backed by consensus algorithms so that no one user can simply generate it. To do so would require a 51% attack and this is incredibly expensive to execute on the main coins. Also even in such an event, users can fork onto a new chain and deem that one as the legitimate one.

Here is more about the Bitcoin supply:
https://en.bitcoin.it/wiki/Controlled_supply

Topic: bitcoin and crypto and fiat currency - page 2. (Read 591 times)