Post
Topic
Board Bitcoin Discussion
Re: PC World Claims Counterfeit Bitcoins
by
twobits
on 01/07/2011, 18:51:38 UTC
If you have realy a little understanding how databases and bitcoins are working and assuming you read this article carefully and understand it you shouldn´t come to the conclusion the author is an idiot.
I am not an expert but in the database are no bitcoins stored. Only numbers that represents an accounts amount of bitcoin. If you "fake" or "counterfeight" this number you just change a number inside a database. The bitcoin block chain was never affected. So sure you can create an "counterfeit" amount of any item/number inside a database. And nothing else was mentioned by the author.

"The hacker was able to create 2 million counterfeit BTC by manipulating the company's trading database ..."

In my opinion from an technical point of view this article claims no false facts and is correct.
The question for me is if it realy was happen in this way. But that makes me not calling the author an "idiot".

If you have little understanding, it should be a hint to do more research and fact checking before writing about it as a reporter.  

Changing the number in the database no more counterfeits bitcoins then a bank printing out an erroneous statement of your account showing more in it counterfeits euros.

You opinion is wrong.   The title is claiming a false fact and is wrong.   The fact you hold this opinion does not change the fact it is wrong nor make the author any more correct,  it just means you are both wrong.   

In this case though,  it may just be the author of the headline,  if could be someone else comes up with the headline then the author, I know that is often the case for newspapers.