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CryptopreneurBrainboss

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Quote from: Zilon on July 10, 2021, 07:35:30 AM

Quote from: Masplanc on July 06, 2021, 12:35:27 PM

2. Are their fake Bitcoin, like we do have fake currencies note.

I haven't heard of anything of such fake Bitcoin can't exist since it's encrypted between users so if you have a coin in your wallet then it's spendable and mind you Bitcoin has no paper representation so it can't be counterfeited.

Well you can consider the numerous forked counterfeit Bitcoin as most have the same circulating/total supply lol. Actually we have fake Bitcoin and they're all the forked out there claiming to be the real Bitcoin which is the reason behind their forking in the first place. Don't forget some Bitcoin address and some of the forks share similar address or exact address (most especially the legacy format addresses) and scammers used this as an advantage to scam victims.

I have had reports of victims receiving BCH (Bitcoin cash or fake Bitcoin) for the price for bitcoin when they transacted peer2peer which is quite possible as most Bitcoin and Bitcoin cash share same address. About the theory of a totally fake Bitcoin like the rumors going around of recent of scammers sending you a fake Bitcoin when you intend transacting peer2peer in my region, that I haven't confirmed but most scenario will be a double spending scams.

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Quote from: UserU on July 10, 2021, 12:37:40 AM

Supposedly a newbie sees the confirmation and thinks that it's registered but little did he/ she know it could be replaced by another TX that would never be addressed to him/ her.

If the transaction is confirmed then it's almost impossible to replace/reverse it and the more confirmations the transaction has, the more difficult it becomes to replace it. 6 confirmations is safe enough to consider a transaction final.
However, it's possible to replace an unconfirmed transaction especially if it's been flagged as rbf. The wallet you use can't prevent this. The only thing it can do is to hide unconfirmed transactions in the transactions history.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

No once your seed phrase is stolen and your funds withdrawn there is no possibility of recovering your stolen coin. Always write down your coin and save it in a paper format.

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2. Are their fake Bitcoin, like we do have fake currencies note.

I haven't heard of anything of such fake Bitcoin can't exist since it's encrypted between users so if you have a coin in your wallet then it's spendable and mind you Bitcoin has no paper representation so it can't be counterfeited

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Quote from: ABCbits on July 10, 2021, 03:53:15 AM

It's only possible if the receiver accept 0-conf transaction without checking possibility of double spend (e.g. low fees, RBF enabled). Fortunately, some wallet will mention that the transaction/bitcoin isn't confirmed. so such scenario isn't likely.

Thanks for the information, so that only applies if the wallet supports such feature.

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Quote from: UserU on July 10, 2021, 12:37:40 AM

Quote from: khaled0111 on July 09, 2021, 05:17:49 PM

If by "fake bitcoin" you mean double spending and the possibility to spend the same coin twice, then the answer is no. Bitcoin is designed to prevent double spending.

I reckon it's possible, if you sent two transactions but one with a higher fee so it speeds up.

Supposedly a newbie sees the confirmation and thinks that it's registered but little did he/ she know it could be replaced by another TX that would never be addressed to him/ her.

It's only possible if the receiver accept 0-conf transaction without checking possibility of double spend (e.g. low fees, RBF enabled). Fortunately, some wallet will mention that the transaction/bitcoin isn't confirmed. so such scenario isn't likely.

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Quote from: khaled0111 on July 09, 2021, 05:17:49 PM

If by "fake bitcoin" you mean double spending and the possibility to spend the same coin twice, then the answer is no. Bitcoin is designed to prevent double spending.

I reckon it's possible, if you sent two transactions but one with a higher fee so it speeds up.

Supposedly a newbie sees the confirmation and thinks that it's registered but little did he/ she know it could be replaced by another TX that would never be addressed to him/ her.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

Others are saying a straight no, but since recoveries happened in the past, just like the thousands of BTC recovered from the Mirror Trading International scam very recently, I'd say, yes, there is a possibility, but not on the individual level.

Especially if it's a huge scam involving a very large amount, the government may use its resources to recover the scammed funds. They may be successful to a certain extent. But if it involves relatively small amounts and you are on your own trying to make that recovery, chances are you won't be successful.

There's no standard recovery process. The best thing you can do is report the case to the authorities and move on. 99% of the time, you won't get your funds back, so better avoid getting scammed.

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2. Are their fake Bitcoin, like we do have fake currencies note.

In the sense that we have fake fiat notes, nope, there is no fake Bitcoin. The good thing with Bitcoin is that everything's verifiable. So verify, always! With fiat, there are lots of fakes and you can hardly tell a fake one from an original.

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Other than using fork coins, scammers also use testnet coins to deceive their victims. They usually target newbies and will ask them to download a wallet that supports the testnet network. Most newbies aren't aware of the existence of the testnet network and don't know that these coins have no real value.

If by "fake bitcoin" you mean double spending and the possibility to spend the same coin twice, then the answer is no. Bitcoin is designed to prevent double spending.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

No you can't possibly recover your Bitcoins. Even if you report to the police they can't do much about it. Be wary of anyone who promise to get back your bitcoin. They are scammers

Quote from: Masplanc on July 06, 2021, 12:35:27 PM

2. Are their fake Bitcoin, like we do have fake currencies note.
I really want to know and also for the sake of others who have no idea.

There is no such thing as fake bitcoin in that note. The blockchain network doesn't give room for that. Every bitcoin address is unique and transactions are visible on the blockchain.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

The simple answer to this is no you cannot get your coins back from scammers if they have gained access to your private keys or seed phrase as whosoever has it can provide relevant digital signature for that to spend that Bitcoins and create a transaction with your funds.The most you can do is to contact anti-fraud agency for help or hire crypto scam expert to help you but the case is they have high fees which could be more than your funds stolen and still not full guarantee so it's better to forget it.

Quote from: Masplanc on July 06, 2021, 12:35:27 PM

2. Are their fake Bitcoin, like we do have fake currencies note.

Not any fake bitcoin because there is only one and one Bitcoin and other are altcoins which have been made out of hard fork of Bitcoin and termed as shitcoin along with other altcoins in the market.So the only one is "Bitcoin".You cannot fake it like $100 note with same fake $100 bill as btc is only btc.

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Your chances of recovering your Bitcoin from scammers are low because bitcoin transactions can not be reversed unless when you have evidence and access to the individual that scam you that way you can approach the court for possible redress.

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Quote from: BitMaxz on July 06, 2021, 04:27:18 PM

This only works if the transaction is RBF enabled and if the transaction still unconfirmed due to a low fee.

Keep in mind that RBF only makes double spending easier and defines a "standard" way of doing it, otherwise it is as it has always been possible to double spend an unconfirmed transaction paying any fee with or without RBF.

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1. Bitcoin transactions are irreversible like others have said. The only way you can recover it if you ask for help from the authorities (most probably going to cost a good amount of money so better don't bet on this), and the hacker/scammer does something stupid like send the stolen funds to a custodial wallet such as Coinbase.

2. Basically other cryptocurrencies that claim to be the "real" Bitcoin.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).
2. Are their fake Bitcoin, like we do have fake currencies note.
I really want to know and also for the sake of others who have no idea.

I hear Bitcoin transactions is irreversible and so, I'm hoping yo live it at that with you buy then, if there are fake Bitcoin as there is fake fiat currencies, it's yes on this. For sure there are fake Bitcoin and they come in different forms. I was onced approached by a ascammer with this kind of scheme, using fake Bitcoin. Where they have to ask you to open an account on there platform and then, they load you some Bitcoin, requiring you to send in some of your original Bitcoin before your able to make some withdrawal. Once you comply, you e automatically been scammed.

Recently,I heard of something called flashcoins. I'm still searching out the details on this but, its said to be some sort of bitcoin that only reflects in your wallet for a while and then it's all gone. Still needs details on this though.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

If scammers have got your Bitcoin, or if you have sent several Bitcoin to scammers, you will never get it back.
Because scammers will never lose their money to you, that is why they are scamming, to schema and deceive the victims, to take our money, and spend by themselves, never aiming to refund for us. So, if you got scammed, just let it be because it means that your money is lost.
That is why we must be very careful in deciding some decision, whether to make an investment, buying something or even doing something. Never trust anyone who wants to help you recover your lost funds, never trust anyone that asks for your private keys or phrase, and never trust anyone who wants you to send him or them a certain amount of Bitcoin or money and will give back to you a high percentage of profits. They're scammers.

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I just want to add this to the first two posts above.
The bitcoin transaction is irreversible yeah I agree if the transaction is already confirmed but if not yet confirm you can able to reverse the transaction by making a double-spend transaction. So that the first transaction that you send to scammer address you can rebuild the transaction and send it back to your own address but this time make sure to increase the transaction fee so that the new transaction will be confirmed and the old transaction will be rejected.

This only works if the transaction is RBF enabled and if the transaction still unconfirmed due to a low fee.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

In everything you most have a bad egg, from my perspective, i equate or relate bitcoin scammers like fiat scammers, both are the same in terms of lost, their is no difference between both, because if your crypto is been scammed to unknow person, before it can be retrieved, it will take time, likewise fiat currency, such is also applicable to it.

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Quote from: Masplanc on July 06, 2021, 12:35:27 PM

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).

This is a decentralized network that is not based on trust, it kind of works two ways, just as you're expected not to trust anyone with your funds, you can't likewise trust anyone to recover your funds for you when they are stolen, you took up the responsibility of 'being your own bank', that also means you're 'your own security', thus if you let someone else export your funds and spend it, there's no way you can get them back, that's the reason why security of funds is pertinent for every Bitcoin newcomer to learn, the moment you learn the security protocols involved in protecting your funds, then you'll prolly never lose it.

Having said that, in some rare cases involving serious crimes that could prolly concern the government, if the funds have passed through an exchange, then the government can request for the data belonging to the owner of the address, and could track/trace it from there, but mind you that it only happens in very rare occasions, and somewhat high profile thefts.

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Quote from: Charles-Tim on July 06, 2021, 01:24:39 PM

I get your point, you are definitely right, there was a time bitcoin.com named Bitcoin cash as Bitcoin which was misleading people until this year IIRC when it was changed, now I am not certain about this manipulation as I am not longer visiting the site as often as before. But, I think what OP meant was that is it possible for hackers to create fake Bitcoin and spend it as Bitcoin, which is not possible, while also Bitcoin can not be double-spent in this regard also.

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Quote from: SquirrelJulietGarden on July 06, 2021, 01:17:43 PM

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I get your point, you are definitely right, there was a time bitcoin.com named Bitcoin cash as Bitcoin which was misleading people until this year IIRC when it was changed, now I am not certain about this manipulation as I am not longer visiting the site as often as before. But, I think what OP meant was that is it possible for hackers to create fake Bitcoin and spend it as Bitcoin, which is not possible, while also Bitcoin can not be double-spent in this regard also.

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