Topic: How can you verify if a bitcoin is real? - page 2. (Read 1122 times)
There are fake bitcoins, in the real world we call it "play money" well in ghe cryptoworld there are what we call "scams and fake crypto". For example, there are numerous fke mining apps and fake faucets, in fake mining apps people are deceived in their smartphones thinking that they actually earn but they are just really wasting their time, they tried to withdraw it then it ended up being a senseless piece of crap application that wasted your time, and I think in the crypto world this may be our "play money" but without us noticing it is fake.
The point is that you do not encrypt anything with public key cryptography in bitcoin, just for signing only. When you send bitcoins, you sign a transaction that says which public key (address) can send these coins in the future, this transaction then validated by the entire network and the miner adds it into the block.
I think there is no such thing as fake Bitcoin. I've read some news that it takes a billion dollars to create a fake Bitcoin. So no need to worry about getting the fake one. The risk of the loss of your Bitcoin is when you gave the wrong address. Sending Bitcoin using blockchain is immutable. So all transactions that have submitted are not cancellable. So make sure that you are entering the right address and please do keep your private keys safely.
"But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key?" receiving bitcoin in your wallet is the authenticity of what your decrypt with your private key. Unlike Email where you see letters after decryption, with bitcoins, you see the balance in your wallet.
Yes, there are a lot of ways in this purpose and you just need to choose the suitable way for yourself.
Come to point is that you don't encrypt anything with public key cryptography in Bitcoin, it is used only for signing instead. (encrypting the hash is a signature)
When you send bitcoins you sign a transaction which says which public key (address) will be able to send these coins in the future.
This transaction is then validated by the entire network and miner's add it into a block. If miner's add an invalid transaction into a block, their block will be considered invalid by the bitcoin.
When you send bitcoins you sign a transaction which says which public key (address) will be able to send these coins in the future.
This transaction is then validated by the entire network and miner's add it into a block. If miner's add an invalid transaction into a block, their block will be considered invalid by the bitcoin.
Bitcoin is real and unreal, expressed in quantity through a Blockchain that is conventionally right, its value depends on the trust, the trend and the investor.
for me its hard to verify because mostly transactions are real, for you to be safe you should invest your crypto in valid crypto sites
Bitcoin is real and unreal, expressed in quantity through a Blockchain that is conventionally right, its value depends on the trust, the trend and the investor.
For me, the things we need to do in order to verify if bitcoin is real if you have friends that joins or using bitcoin. It is a big impact to believed knoqing your friend have or using it. Next is popularity, if it is known and the most trending topic in social media then for sure it is real. Trusting is one of the important thing to have in investing in crypto currency world.
Bitcoin is real and unreal, expressed in quantity through a Blockchain that is conventionally right, its value depends on the trust, the trend and the investor.
Well every thing no assurance but you can only verify if the bitcoin is real when there is no fee when everything is free from registration down to the opportunities.. people work hard to earn money so in this site, company can see it to make it legitimate or making it real . but always take an extra caution in any site for our protections if this site wont work well we can look for another site that has verification currency that can be exchange .
bitcoin is real, it is exist on blocks. It is a data that stored on a blockchain if im not wrong.
every year the block is added (mined) for a certain amount. Bitcoin exist because it is everywhere.
every year the block is added (mined) for a certain amount. Bitcoin exist because it is everywhere.
Some people like to feel their investment like cash. But it is not possible in case of things like stocks. However, now there are bitcoin ATMs being installed in some countries and you can easily en-cash your bitcoins suing those ATMs. Once you have used such an ATM, you will realize that bitcoins are real.
By the way, this is a very cool idea. ATM check is something that is worth your attention. However, one very small problem still exists: these ATM machines for the cryptocurrency are not available everywhere.
So you do not have to do anything to make sure that the bitcoin you have is real, because it's held in blockchain, and is the technology that ensures that the Bitcoin transaction you just received is real (that the tx is in the block added to the Blockchain, and all of which are verified by miners)
Now bitcoin, is just a protocol, or "set of rules", which runs in blockchain. So you do not have to do anything to make sure that the bitcoin you have is real, because it's held in blockchain, and is the technology that ensures that the bitcoin transaction you just received is real.
Hi All,
First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
Bitcoin does not have fake, it is not like fiat money, if someone sends you bitcoin then it will show up in your wallet if the transaction is done right. You cannot just make bitcoin at will. First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
Hi All,
First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
There is no such thing as fake bitcoin. It is not fiat currency which you can just create counterfeits at will, if you don't see your bitcoin in your wallet, then the person never sent it or it is still pending. First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
Hi All,
First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
I think bitcoin is real and true for his opinion because in searching the bitcoin we search for the existing projeck, and as long as we wait patiently we will get the result First post so please be gentle!. I'm trying to get familiar with crypto currency and understand 'how it works'. I've reached a block and I'm hoping someone can shed some light on a particular point.
I understand the process of using public and private keys, back from the time when Phil Zimmermann created PGP. PGP allowed a user to encrypt a file, eg: an email/file (technically, just a bunch of ones and zeros) so that when the other user decrypted the file, they would see the words/file again. Or, to phrase it another way, the encryption was just a 'wrapper' for the content - ie, the words in my email or the file I sent.
Now, if someone sent me a bitcoin, how would I know what I was looking at? With an encrypted email, once decrypted I would be able to see something (text/file) and realise that I had actually received something. But, if someone sent me a bitcoin, what would I be looking at when I decrypted with my private key? A file filled with ones and zeros? Or maybe a simple text file with words inside saying, "Hey, this is 1 bitcoin!"
Can someone shed some light on what it I actually receive when I purchase a bitcoin and how I can verify that what I have 'in my hands', is actually a bitcoin and not just a bunch of ones and zeros? I understand that the blockchain is supposed to verify what is what but, what if I wanted to pass my bitcoin directly to you without the blockchain. Again, how would I know, what I received - was a bitcoin?
Thank you for your time and patience with my lack of understanding!
Regards,
Staffs Lebowski..
How can you verify whether the bitcoin is real?
can use bitcoin via email account sent by bitcoin team, and through send scan of ID card through bitcoin website along with photo pass
can use bitcoin via email account sent by bitcoin team, and through send scan of ID card through bitcoin website along with photo pass
Any transaction issued with Bitcoin cannot be reversed, they can only be refunded by the person receiving the funds. That means you should take care to do business with people and organizations you know and trust, or who have an established reputation.
I can verify it by handed the funds and can use for in exchange of my daily needs.
If you have received Bitcoin in your wallet and if the transaction is confirmed more than 6 times then you don't have to worry about the authenticity of the Bitcoin. It is a real Bitcoin and there is no way to send a fake Bitcoin in your Bitcoin wallet. On the other hand, if you are using web wallet then you might fall for a phishing mail having content like '1 Bitcoin received' etc so in any case, look for the original wallet and check that there is a confirmed transaction associated with that wallet with the same value.
You can verify it thru the online ledger, you can visit blockchain and search your wallet address there. If you can't found a transaction telling receiving or received there could be two things. One, the transaction could be delayed. In this scenario you could then search the sender address, there should be listed the amount of bitcoin he or she is sending to you. Additionally, your address should be listed in there. The second scenario, if both address don't have send or received. It is probably not been send at all. Just an advise, if you are buying or trading some to a bitcoin, better use an escrow. By that you are sure that both party will do its part.
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