Can make fake coin? | Bitcointalksearch.org

jhache

full member

Activity: 518

Merit: 100

Quote from: wsxdrfv on October 09, 2018, 12:11:22 AM

If there is some altcoin that cloned bitcoin, and the maker doesn't open the source code to github, and just released window's wallet (same with bitcoin window standalone core wallet), and web wallet for online.

And maintaining only 2 nodes at some VPS servers.

In this situation, someone can make fake coin and distribute? Like with 51% attack or via other way? How? How to block this abuse?

Thanks.

It really is not possible to clone bitcoin, the only thing that you can do is to make hardforked coins and that is why you see coins like bitcoin cash and bitcoin gold. they are forked coins but at the same time they are coins of their own, they are in no way the same thing as bitcoin. If anyone is telling you that they can clone bitcoin then they are trying to scam you

btcoin

jr. member

Activity: 93

Merit: 1

Is faking is not simillar to creating forks? Like forks creators take an open source code, changing it for a little bit, and pretending like it's brand new coin. I think in a case that you described there is not fake coins. There is forks.

Antony97

jr. member

Activity: 182

Merit: 1

A logical approach but I do not think to be this issue.This is fraud.AndIt will damage the market.Nobody want to damage this market because can not win.Even so,
For the title I can say that a conscious headline.Thanks a lot. your thinking is good but is not absolutely.

RoftheN

full member

Activity: 546

Merit: 100

Quote from: wsxdrfv on October 09, 2018, 12:11:22 AM

If there is some altcoin that cloned bitcoin, and the maker doesn't open the source code to github, and just released window's wallet (same with bitcoin window standalone core wallet), and web wallet for online.

And maintaining only 2 nodes at some VPS servers.

In this situation, someone can make fake coin and distribute? Like with 51% attack or via other way? How? How to block this abuse?

Thanks.

It is not possible for anyone to make any kind of fake coin, they can only make a hard forked coin which would be an entirely different coin but the thing about cryptocurrencies is that you do not have to worry about people making counterfeits of a coin because it is impossible. That is one of the things that is so great about cryptos, it is just not possible to do it.

Oliedric

newbie

Activity: 14

Merit: 0

Making a fake coin is not that easy thing to do. Also if a fake coin is generated there is a high possibility it will exposed one way or another.

Wicomas

newbie

Activity: 14

Merit: 0

I don't think this is possible. If you happen to clone a coin, that becomes another new coin. Also, 51% attack, albeit sounding cheesy, is really hard to pull off because of the hash powers combined.

Taylia

newbie

Activity: 14

Merit: 0

I do not think it is easy to fake a coin. Even it is possible to fake it will surely be caught while making transactions through proper channels.

Niresean

newbie

Activity: 14

Merit: 0

Coins can be faked in a closed loop system. Good news is that fake coins, if transacted through the proper platform can be verified very easily.

Gurjasmeet

copper member

Activity: 196

Merit: 0

Think, there is everything possible. but l think cloning of coins could not making. whenever lot of scammers trying to make them.

shinratensei_

legendary

Activity: 3276

Merit: 1029

Leading Crypto Sports Betting & Casino Platform

Quote from: wsxdrfv on October 09, 2018, 12:11:22 AM

If there is some altcoin that cloned bitcoin, and the maker doesn't open the source code to github, and just released window's wallet (same with bitcoin window standalone core wallet), and web wallet for online.

And maintaining only 2 nodes at some VPS servers.

In this situation, someone can make fake coin and distribute? Like with 51% attack or via other way? How? How to block this abuse?

Thanks.

They can't because they can't get the code to create the clone for that coin. 51% attack is about dominating the hash power and you can see how BTG was facing that problem after the creator of BTG has been updating the network with ASIC resistant algorithm and everything is fine.

shiming

full member

Activity: 798

Merit: 101

When a new thing is born, more and more people support him. He can become mainstream. This is the way BTC was born. Plagiarism can make people feel that he is shameful. Technical updates are possible.

Herbert2020

legendary

Activity: 1946

Merit: 1137

that is not abuse, that is creating a new altcoin with a different sets of consensus rules and the coins it creates aren't "fake coins" they are real coins but they are different coins that belong to that altcoin and it has nothing to do with bitcoin or 51% attacking nor does it have anything to do with attacking nodes.

what you describe is like trying to broadcast a litecoin block to bitcoin full nodes! they will obviously reject it because it is invalid.

wsxdrfv

jr. member

Activity: 413

Merit: 5

Quote from: ?? on ??

If it's not open-source, there are many ways to make ~~fake~~ generate coins outside the intended plan such as accept blocks mined by x address no matter the output of coinbase transaction on the source-code.

Also, total nodes have small correlation with 51% attack unless total nodes is very low. If you want to prevent that, you must encourage people to run full-nodes and not choose pool with big hashrate.

Even this coin's mining reward is 0 and all coins 100% are premined? Then how others can make coin?

wsxdrfv

jr. member

Activity: 413

Merit: 5

If there is some altcoin that cloned bitcoin, and the maker doesn't open the source code to github, and just released window's wallet (same with bitcoin window standalone core wallet), and web wallet for online.

And maintaining only 2 nodes at some VPS servers.

In this situation, someone can make fake coin and distribute? Like with 51% attack or via other way? How? How to block this abuse?

Thanks.

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