Virtual Currency at Risk for Counterfeiting Just Like Real ...

Bitcoin Gone Wild

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so what happened to these bitcoin "counterfeiters"?

so what happened to these bitcoin submitted by restion to Bitcoin [link] [comments]

2 suspected Bitcoin counterfeiters are arrested in Germany

2 suspected Bitcoin counterfeiters are arrested in Germany submitted by nordite to altnewz [link] [comments]

Is the Bitcoin economy to implode anytime soon? (New academic paper)

Just wanted to bring this new paper to you.
If going to comment, please engage with the arguments.
Abstract
This paper discusses the economics of how Bitcoin achieves data immutability, and thus payment finality, via costly computations, ie "proof-of-work". Further, it explores what the future might hold for cryptocurrencies modelled on this type of consensus algorithm. The conclusions are, first, that Bitcoin counterfeiting via "double-spending" attacks is inherently profitable, making payment finality based on proof-of-work extremely expensive. Second, the transaction market cannot generate an adequate level of "mining" income via fees as users free-ride on the fees of other transactions in a block and in the subsequent blockchain. Instead, newly minted bitcoins, known as block rewards, have made up the bulk of mining income to date. Looking ahead, these two limitations imply that liquidity is set to fall dramatically as these block rewards are phased out. Simple calculations suggest that once block rewards are zero, it could take months before a Bitcoin payment is final, unless new technologies are deployed to speed up payment finality. Second-layer solutions such as the Lightning Network might help, but the only fundamental remedy would be to depart from proof-of-work, which would probably require some form of social coordination or institutionalisation.
Personally, I'm no longer in the Proof-of-Work world. I moved to Proof-of-Stake long ago. PoW are getting 51% attacks more often too. Might implode anytime soon.
submitted by ayowayoyo to Bitcoin [link] [comments]

[ Bitcoin ] You Can't Fake Bitcoin: CBP Seizes $3.6M in Counterfeit Notes Along Canadian Border

[ 🔴 DELETED 🔴 ] Topic originally posted in Bitcoin by wmredditor [link]
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09-20 22:35 - 'You Can't Fake Bitcoin: CBP Seizes $3.6M in Counterfeit Notes Along Canadian Border' (coinfomania.com) by /u/wmredditor removed from /r/Bitcoin within 1065-1075min

You Can't Fake Bitcoin: CBP Seizes $3.6M in Counterfeit Notes Along Canadian Border
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New Counterfeit Invasion in Australia Makes a Case for Bitcoin

submitted by michell-gail to Bitcoin [link] [comments]

Bitcoin is a 100% counterfeit-proof store of value.

Bitcoin is a 100% counterfeit-proof store of value. submitted by sirlancelot1200 to Bitcoin [link] [comments]

"There are no controls over how many Bitcoins are issued, and digital counterfeiting rings have been busy replicating the currency at “Bitcoin farms”, and a few have been apprehended." This "Journalist should be fired on Monday Morning"

submitted by 127fascination to Bitcoin [link] [comments]

Bitcoin vs Looting and Counterfeiting

Bitcoin vs Looting and Counterfeiting submitted by stephanlivera to Bitcoin [link] [comments]

05-29 14:34 - 'The tragic irony of the George Floyd murder is that 911 was called because he was using "counterfeit" money. Meanwhile the Fed money printer goes Brrrrr all day long... but that's "legal" counterfeit. The...' (self.Bitcoin) by /u/the420chronicler removed from /r/Bitcoin within 3-13min

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End the Fed. Legalize competing currencies. Try Bitcoin.
'''
The tragic irony of the George Floyd murder is that 911 was called because he was using "counterfeit" money. Meanwhile the Fed money printer goes Brrrrr all day long... but that's "legal" counterfeit. The double standards and hypocrisy must end. It's time for honest money. Time for Plan B
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submitted by removalbot to removalbot [link] [comments]

04-22 21:05 - '💳💳💳FAST FAKE ID SERVICES||BUY FAKE IDS||REAL PASSPORTS, UNDETECTABLE COUNTERFEIT BANKNOTES, CREDIT CARDS AND DRIVERS LICENSES||WORLDWIDE SHIPPING TO CANADA,AUSTRALIA ,USA AND EVERY STATE.OUR NOVELTY IDS INCLUDES UV...' by /u/TopCounterfeitMoney removed from /r/Bitcoin within 49-59min

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💳💳💳FAST FAKE ID SERVICES||BUY FAKE IDS||REAL PASSPORTS, UNDETECTABLE COUNTERFEIT BANKNOTES, CREDIT CARDS AND DRIVERS LICENSES||WORLDWIDE SHIPPING TO CANADA,AUSTRALIA ,USA AND EVERY STATE.OUR NOVELTY IDS INCLUDES UV LIGHTS AND HOLOGRAMS,SCANS AND PASSES THE BLACKLIGHT TEST. WHATSAPP +19375891653💳💳💳
'''
Context Link
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Author: TopCounterfeitMoney
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Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin

Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin

https://preview.redd.it/wni6i6jbcvl31.png?width=1000&format=png&auto=webp&s=e77c06d9bad1c7ca2e42e4e8c3edd068677cf52a
News by Cointelegraph: William Suberg
Portuguese police and Europol have seized funds worth €70,000 ($77,200) in what they describe as one of the most advanced counterfeiting operations ever seen.

€1.3M fake notes sold since 2017

As Brazilian daily news outlet Sputnik and others reported on Sept. 10, law enforcement succeeded in bringing down the ring, which sold fake notes on the dark web in return for Bitcoin (BTC).
In action since 2017, the operation created €1.3 million in fake money. The leader, from Portugal, was found and extradited from Colombia this week.
According to police, the notes were some of the best quality forgeries they had encountered, bearing features such as watermarks and holograms.
“Often they are only detected when entering bank deposits. In terms of normal trade, they are banknotes that pass quite easily,” police investigation coordinator, Luís Ribeiro, said in a statement quoted by Sputnik.

Swapping easy money for hard money

The news is conspicuous for highlighting the perpetrators’ preference for unforgettable hard currency — Bitcoin — over printable fiat.
It is the second cautionary tale to emerge from Europe in recent weeks, after alarm at the discovery of fake gold bars in the vaults of some of the best-known institutions worldwide.
As Cointelegraph reported, around 1,000 spurious bars have been discovered, but experts fear the complete supply is much larger.
“Bitcoin fixes this,” Francis Pouliot, founder of Canadian Bitcoin consumer platform Bull Bitcoin, subsequently commented, alluding to the ability of individuals to verify Bitcoin transactions by running a full network node.
submitted by GTE_IO to u/GTE_IO [link] [comments]

Bitcoin is counterfeit proof. Why don't more people talk about this? How much money is counterfeit in the US economy? What is the scope of this problem? It can never effect Bitcoin.

submitted by feedbands to Bitcoin [link] [comments]

Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin

Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin submitted by Ranzware to BitNewsLive [link] [comments]

Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin

Europol Shuts Down Counterfeiting Ring Which Sold $1.44M for Bitcoin submitted by raaner12 to Altcoinss [link] [comments]

Love the level of understanding of Bitcoin in the news

2 suspected Bitcoin counterfeiters are arrested in Germany
Prosecutors in the German town of Kempten said they are investigating whether people used software > to create digital Bitcoins worth 700,000 euros, about $950,000, Bloomberg News reported.
Such a bad article. They make it sound like its illegal to mine bitcoins and I can't even tell if they stole the bitcoins or installed mining software on people's computers.
LA Times....
submitted by ashaw596 to Bitcoin [link] [comments]

Why would you take fiat money as payment for your goods and services. I googled " Buy counterfeit currency" and got literally hundreds of websites offering undetectable forgeries. Accept the one and only real Bitcoin instead.

Disclaimer. I am not suggesting that you try to purchase forged currencies. This would be clearly illegal advice and an illegal act in purchasing said paper. What this illustrates is how detrimental it is to accept worthless fiat money.
submitted by Pipdotcom to Bitcoin [link] [comments]

Russian Banking Chief: Bitcoin Mining is Counterfeiting

Russian Banking Chief: Bitcoin Mining is Counterfeiting submitted by BeneficialArcher to Buttcoin [link] [comments]

Counterfeit RTX 2060? seller said it was Nvidia, it is apparently not... off-brand? Am I going to get bitcoin mined?

Bought this from ebay. It's stamped for Russian certification. It was listed as located in Kansas, but when shipped the tracking was from Puerto Rico. Wtf?
https://imgur.com/a/TXUaa9B
Update:
this is the benchmark: https://imgur.com/iuBwY3y
Update:
Update:
Thank you everyone for your ideas, I was able to establish that it looks like it's real.
submitted by tomjoad773 to buildapc [link] [comments]

02-29 12:44 - 'Bitcoin (BTC) Can Be Counterfeited –Charlie Lee Explains' (heraldsheets.com) by /u/Solodeji removed from /r/Bitcoin within 229-239min

Bitcoin (BTC) Can Be Counterfeited –Charlie Lee Explains
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02-29 17:34 - 'Get your authentic counterfeit notes at https://www.counterfnotes.com/‬' (self.Bitcoin) by /u/undervivan removed from /r/Bitcoin within 3-13min

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Get your authentic counterfeit notes at [link]1
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Get your authentic counterfeit notes at https://www.counterfnotes.com/‬
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Author: undervivan
1: *ww.coun*erf*otes.*o*/*
Unknown links are censored to prevent spreading illicit content.
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Bitcoin (BTC) Can Be Counterfeited –Charlie Lee Explains

Bitcoin (BTC) Can Be Counterfeited –Charlie Lee Explains submitted by Odunayo20 to Crypto_Currency_News [link] [comments]

Crypto Mining is Counterfeiting  BitTorrent's Price Up 600% Why can't bitcoin be Counterfeited? Bitcoin nieuws vandaag: BCH stijgt met 30 procent in aanloop van HALVING  Krijg 5 euro gratis Everledger Pitch by Leanne Kemp in Blockchain / Bitcoin category at European FinTech Awards 2016 Counterfeit Bitcoins...the BTC Cash fork

At Bitcoin’s launch in 2009, miners received 50 Bitcoin per block, but that reward was reduced to 25 in the first halving, in 2012, to 12.5 in 2016, and will fall to 6.25 tokens in the next ... A Bitcoin must, by definition, be an entry in a valid Bitcoin public block chain. The block chain rules allow each Bitcoin to be present only once in a block chain, or else that block chain is not valid. Think of the Bitcoin block chain like a ledger listing every Bitcoin's origin and present location. If you make a copy of the same Bitcoin ... But counterfeiting risk with Bitcoin is actually pretty low and to understand why, you first have to understand the process by which Bitcoins work. The Bitcoin was released in 2009 by someone called Satoshi Nakomoto (not their real name) and to this day, no one knows their true identity. The value of Bitcoin started out pretty small but has exploded in recent years, reaching a value of $1000 ... Bitcoin and similar altcoins use a distributed ledger. That means that I have a copy of everyone's transaction history, you have one, and every user of bitcoin does as well. We all have a copy and they all agree with each other who owns what exa... Bitcoin is controlled by all Bitcoin users around the world. While developers are improving the software, they can't force a change in the Bitcoin protocol because all users are free to choose what software and version they use. In order to stay compatible with each other, all users need to use software complying with the same rules. Bitcoin can only work correctly with a complete consensus ...

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Crypto Mining is Counterfeiting BitTorrent's Price Up 600%

The self-declared "world's greatest counterfeiter," Frank Bourassa, printed $250 million in fake US currency until he was caught by an undercover cop in 2012... Forking bitcoin is like counterfeiting it...but legally! A video about how forking ethereum or bitcoin or any cryptocurrency blockchain is like how counterfeiting bitcoin works. Support mij via Patreon http://bit.ly/33e9EDQ ️ • BELANGRIJKE LINKS • Koop en bewaar je Goud op een veilige manier 🔑 http://bit.ly/33Gak5U Tweede Kamer over... Wondering why everyone is so sure bitcoins can't be copied? They're just data, right? Wrong. This short video is a concise answer to why bitcoins cannot be counterfeited. Ready for more bitcoin ... We work alongside crime agencies to assist in the identification of cross border transcations, money laundering and counterfeit goods. Leanne has over 20 years in emerging technology in supply ...

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