Post
Topic
Board Bitcoin Discussion
Re: Is there a Fake Bitcoin?
by
NotFuzzyWarm
on 12/08/2020, 20:41:42 UTC
In the real world, we used fiat or physical money in our daily spending. And this physical notes can be use in fraudulence or a so-called Fake Money.
How about in Cryptoworld, is there also a Fake Bitcoin? If there's any, how can we identify it?

That is actually a good topic that many users like me can think about since I have never considered the fact that having a face Bitcoin but I thought about would be called as Alternate Cryptocurrencies but I guess it does not work that way.

Seeing Bitcoin Cash in the comments made me realize to research more about it since people are saying it was a good fork. I always thought forks are for when the volume is going overboard and they wanted to lessen the volume of where they are going to do a fork.
As others have already said here only Bitcoin is Bitcoin and yes there are already many 'fakes' such as BCH, BSV and others that are wannabe kings of crypto and using "Bitcoin" as part of their name despite the fact that they are ALTCOINS and have nothing to do with BTC proper.
Quote
since people are saying it (Bitcoin Cash) was a good fork
Bull. Just as with most altcoins, those coins are made for only 2 reasons: self-serving greed & hubris. Greed in that before being released to the public the creators massively pre-mine the the coins to get a nice stockpile and then hubris kicks in as they try to convince others that their coin is somehow better than BTC so their stockpile of pre-mined crap coins are actually worth something.

Using the word 'fake' implies 'counterfeit' and the possibility to spend exactly like the real thing. Not the case here. The other coins *are* valid coins in their own right but are NOT interchangeable with BTC

All non-BTC coins have their own blockchain, address formats, wallets and most importantly - value. You cannot spend BCH et al to buy something looking for a BTC address for payment. Sometimes a site will blissfully accept you sending the wrong coin but it will NOT register as a valid payment. Even more fun is that the crap coins you sent may never be recovered, partly depends on how nice the site operators are and exactly what crap coin you tried to use.