Bitcoin and virtual currencies: Background information and ...

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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Author: wmredditor
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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

'''
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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Author: the420chronicler
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

'''
💳💳💳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
submitted by removalbot to removalbot [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]

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]

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]

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]

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]

Security features on a $100

Security features on a $100 submitted by hjalmar111 to educationalgifs [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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Author: Solodeji
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Bitcoin (BTC) Can Be Counterfeited –Charlie Lee Explains

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

Everledger Pitch by Leanne Kemp in Blockchain / Bitcoin category at European FinTech Awards 2016 Why can't bitcoin be Counterfeited? The World's Greatest Counterfeiter  The Art of Making ... Counterfeit Bitcoins...the BTC Cash fork

Anti-counterfeiting. Bitcoin uses encrypted public keys, hashing, and technology such as digital signatures to prevent counterfeiting.. Bitcoin uses encrypted public keys, hashing, digital signatures, and other security measures used on the Internet and corporate systems, and the system itself has robust security. In the world of supply chain management, blockchain offers many solutions to old problems such as reducing wastage through spoiled products. However, some industries suffer from worse problems in this area. The pharmaceutical supply chain has an ongoing battle — to combat the issue of counterfeit drugs entering the market. Anti-counterfeiting. Bitcoin uses encrypted public keys, hashing, and technology such as digital signatures to prevent counterfeiting.. Bitcoin uses encrypted public keys, hashing, digital signatures, and other security measures used on the Internet and corporate systems, and the system itself has robust security. Virtual currency has just started to explode in the past few years and the Bitcoin is definitely the leader of the pack. The Bitcoin is a form of virtual currency that can be used to buy and sell goods online, with more and more retail sites adding the ability to accept Bitcoin every week. But what about counterfeiting Counterfeiting criminal statutes: It is illegal to counterfeit both U.S. and foreign currency, but current monetary laws do not mention digital currency. Given that Bitcoin is a peer-to-peer transaction without any formal involvement by a regulatory body or a government, it is unclear if there is a role or responsibility for the U.S. legal ...

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Everledger Pitch by Leanne Kemp in Blockchain / Bitcoin category at European FinTech Awards 2016

Everledger Pitch by Leanne Kemp in Blockchain / Bitcoin category at European FinTech Awards 2016 Alex van Groningen ... money laundering and counterfeit goods. Leanne has over 20 years in emerging ... 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. 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 ...

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