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Topic: Counterfeiting bitcoin - page 2. (Read 1355 times)

sr. member
Activity: 476
Merit: 251
July 15, 2015, 01:49:33 AM
#7
But it could be possible to temporarily fake a human out and make them think they had real bitcoin which is all that is required for an effective counterfeiting operation.  Eventually the sucker will find out their duped but by then the thief could be long gone.

I guess that would be possible... Everything is open sourced... If you compile a windows QT wallet and an node with a new genesis block, different ports, only your node, but the same GUI wallet... Mine some "bitcoins" with your new (fake) wallet, sell some "bitcoins" to somebody else using your own compiled (fake) wallet and cash in...

Your victim would have to be new, and very gullible, but i guess i could work in some cases...

Or am i missing something?

You could fake a transaction with your fake GUI "bitcoin-copy" in a café when trying to buy something and make it look like at first sight that you have the coins, but the transaction would never be confirmed in the real bitcoin network and therefore the buyer would probably never accept the "payment". All this would happen in your new coin's network and would never have anything to do with the bitcoin blockchain.
legendary
Activity: 4466
Merit: 3391
July 15, 2015, 01:47:30 AM
#6
But it could be possible to temporarily fake a human out and make them think they had real bitcoin which is all that is required for an effective counterfeiting operation.  Eventually the sucker will find out their duped but by then the thief could be long gone.

You cannot send someone a "fake" bitcoin because the transaction would never be relayed by any node or confirmed by any miner.
hero member
Activity: 896
Merit: 1006
July 15, 2015, 01:15:59 AM
#5
But it could be possible to temporarily fake a human out and make them think they had real bitcoin which is all that is required for an effective counterfeiting operation.  Eventually the sucker will find out their duped but by then the thief could be long gone.

I guess that would be possible... Everything is open sourced... If you compile a windows QT wallet and an node with a new genesis block, different ports, only your node, but the same GUI wallet... Mine some "bitcoins" continiously with your new (fake) wallet(s), sell some "bitcoins" to somebody else using your own compiled (fake) wallet and cash in...

Your victim would have to be new, and very gullible, but i guess i could work in some cases...

Or am i missing something?
legendary
Activity: 2296
Merit: 1031
July 15, 2015, 01:09:17 AM
#4
But it could be possible to temporarily fake a human out and make them think they had real bitcoin which is all that is required for an effective counterfeiting operation.  Eventually the sucker will find out their duped but by then the thief could be long gone.
legendary
Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
July 14, 2015, 11:24:40 PM
#3
What if someone made exact copy of bitcoin? Exactly the same way bitcoin works and created new bitcoins. Would the miners see it and not let the transations trough or is this possible?

No the longest chain wins
Basically it would never catch up and be able to take over Bitcoin and the attacker could not delete the history of transactions up to the point of the attack, after they could only at most try to change the order to double spend.
https://en.bitcoin.it/wiki/Weaknesses
https://en.bitcoin.it/wiki/Myths#Anyone_with_enough_computing_power_can_take_over_the_network

The only possible scenario would be a fork that users move to in the sense of XT but the coins would still exist on both up to the point of split.
sr. member
Activity: 420
Merit: 250
Ever wanted to run your own casino? PM me for info
July 14, 2015, 11:20:10 PM
#2
Making an altcoin that has the exact same properties as bitcoin will fool no one. It will not appear on the regular blockchain and regular bitcoin client, and therefore will not be accepted. People also try to double spend which I guess is like counterfeit, but there is a solution to prevent this, wait for 1+ confirmations before sending goods.
full member
Activity: 167
Merit: 100
July 14, 2015, 11:14:59 PM
#1
What if someone made exact copy of bitcoin? Exactly the same way bitcoin works and created new bitcoins. Would the miners see it and not let the transations trough or is this possible?
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