Australia's largest stock trading and investment forum Australia's #1 stock forum

https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-th...

First 8 Last

Share
Profile

Follow
Lurkin

2,100 Posts.

6

22/01/21

09:51

Post #: 50364737
Share

Originally posted by skypiliot: ↑

Original post is pure FUD
USD
BTC

Transaction invalid: some outputs that it attempts to spend have been already spent or are no longer valid.
Hash
9e19bc72f3b9bb23351311f88dc6f5c2e7a209a4fb0ad80b35d50f765e343e29

2021-01-20 11:28

1AvroMEtvVMGd3eZ7HAHkzK7tNQScaPNJk
0.00023782 BTC
1LvTeWkoKMphqZAu1gwjkuQ4VogyKWGT3E
0.00025510 BTC
16u6uzCUHsXXXNF3NoGEFP6mLRPaGEJqAL
0.00006345 BTC
1hEnimz3T7sktS2ReY8M2iVXz4RVZNf9F
0.00015458 BTC

1D6aebVY5DbS1v7rNTnX2xeYcfWM3os1va
0.00062063 BTC

Fee
0.00009032 BTC(14.291 sat/B - 3.573 sat/WU - 632 bytes)
https://www.bloomberg.com/news/articles/2021-01-21/why-bitcoin-double-spend-story-is-being-misinterpreted
18 comments
A double-spend by its nature implies creating coins out of nothing (spending same coin twice).
In no possible definition does this situation imply this...its literally a "failed double spend" (ie longest chain won)
Here is what happened.
Someone broadcast a TXN (T1)
Rebroadcast same TXN but with different fee amount (T2)
Simultaneously 2 competing pools solved PoW at same time
Pool1 confirmed T1
Pool2 confirmed T2
Pool1 won. T2 marked as invalid.
This is literally how Bitcoin is designed to work. There is no "error", there is no "oh no!". Its why people have always said "wait for a few confs before accepting it". The vigor that this story is being pushed makes me think its a FUD campaign.

Expand

https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-the-wild
Upvote

Reply

There are more pages in this discussion • 3 more messages in this thread...

First 8 Last

https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-th...

Featured News

Recharged Prospects: 'Watts' on the horizon for copper & lithium

Aus inflation read of 3.6% spooks ASX – before quickly returning to green

Lithium Universe eyes hydropower setup for greener battery metals

High grade sniffs in Africa push Mako shares up 14%

Unith wraps up Q1 with $5M in cash as digital humans evolve

Featured News

https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-th...

Featured News

Top Stories

Recharged Prospects: 'Watts' on the horizon for copper & lithium

Aus inflation read of 3.6% spooks ASX – before quickly returning to green

Lithium Universe eyes hydropower setup for greener battery metals

High grade sniffs in Africa push Mako shares up 14%

Unith wraps up Q1 with $5M in cash as digital humans evolve

Featured News