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File: 454 KB, 477x639, 1610382240569.png [View same] [iqdb] [saucenao] [google]
26301942 No.26301942 [Reply] [Original]

The double spending was real for around 10 minutes.
>https://forkmonitor.info/stale/btc/666833
>https://cointelegraph.com/news/bitcoin-double-spend-spotted-in-the-wild
>https://www.reddit.com/r/CryptoCurrency/comments/l1tlpe/bitcoin_double_spend_spotted_in_the_wild/
Even if it's "only" 10 minutes, it's really bad news. In this 10 minutes you could have bought something else with this btc or switched it to another currency.
Imagine cloning your whole fiat for 10minutes, does this sound healthy?

>> No.26301980

is this why we're dumping???

>> No.26301992

I already sold

>> No.26302001

>>26301992
>>26301980
That is why you wait for multiple blocks before accepting that a transaction is valid. This is not a bug in bitcoin, it is a feature. When two blocks are mined at the same time, let's call them A and B, some miners see block A and start mining on that and some see block B and start mining on that. Mining a block requires the hash of the previous block, that is why it forms a chain, branches can and do happen, but they are short lived. Whichever block the next block is mined on becomes the longest chain, so if in this case the next block is mined on top of A then A becomes part of the longest chain and B becomes orphaned, all transactions that were included in B go back to the mempool. So this double spend was only real for about 10 minutes.

>> No.26302014

This functioned exactly how Satoshi intended

>> No.26302023

>>26301942
that's why you're waiting for six confirmations

>> No.26302034

>>26302001
Glad we aren't all newfags here

>> No.26302035

it wasnt double spending

>> No.26302049
File: 604 KB, 1600x1200, 1610236653581.jpg [View same] [iqdb] [saucenao] [google]
26302049

>>26302001
nice 10 minutes of free money
>>26302014
that's why he never revealed himselfe, he is ashamed

>> No.26302051

>>26302001
Doesn't matter, the market will panic

>> No.26302080

>>26302049
>nice 10 minutes of free money
if you accepted money from a wallet based on 1 confirmation you deserve to lose it.

>> No.26302081

>>26302035
what do you call it?

>> No.26302086

>>26301980
Maybe, but it's not real double spending, just an orphaned block.
The real reason might be the unrealized gains tax.

>> No.26302105

>>26302051
dont fall for the fud, you're lucky you sold when you did and not on an uptrend

>> No.26302120

>>26301942

people now fud with a description of how blockchain works
wow

>> No.26302144

>>26302081
Mumbai drought

>> No.26302151

>>26302086
the unrealized gains thing will never happen, it will nip earning in the bud before the majority of gains on long term plays can be realized and in the long run be less money for IRS, theyll realize this shortly. Yellen is just a dumb bitch

>> No.26302210

Someone should go tell Reddit that that if you remove the double spend from Bitcoin you get Nano. Maybe then the penny will drop while their coin is shiiiiiiit

>> No.26302215

>>26302120
Not much different to how people will say that bitcoin being banned is bullish. Clown world.

>> No.26302333

>>26301980
Yes, and Yellen describing crypto as terrorists

>> No.26302344
File: 66 KB, 450x473, 1609610474661.png [View same] [iqdb] [saucenao] [google]
26302344

>>26302120
no that's how shitty bitcoin works because it was never intended to hit 40k and being used that much.
>transaction time of over 24h
next time it will be an hour until the double spending gets removed

>> No.26302576
File: 21 KB, 400x400, 1543906874560.jpg [View same] [iqdb] [saucenao] [google]
26302576

>>26301942

>> No.26302695

>>26302001
>>26301942
This. Fucking educate yourself how Bitcoin fucking works.

>> No.26302859

amazing that bitmex managed to crash the market with this 'news'. They will have made an absolute killing by doing this

>> No.26302872

>>26302695
Nocoiner here. If thats the way how btc works, its literally bullshit

>> No.26303367

>>26302872
Can you imagine the energy wasted to produce one of those blocks which is now just thrown away?

>> No.26303695
File: 38 KB, 112x112, 1606005419688.gif [View same] [iqdb] [saucenao] [google]
26303695

>>26303367
it's hilarious

>> No.26303897

>>26302001
so if you send BTC to some address before it is confirmed, you get away with it?
Sounds like a huge exploit.

>> No.26303921

now that bitcoin is dead will Fantom fill the void and become number 1 blockchain in the world?

>> No.26303979

>>26303897
if it was as simple as a "huge exploit" why haven't people profited off of it in the past 10 years?

>> No.26304001

>>26302151
Never underestimate how dumb people in power are

>> No.26304002

>>26301942
Chinese doublespending since 2017.
Have enough hashrate to prove anything on the chain.
Fuck the burgers - no power anymore!

>> No.26304011

>>26303979
21 JAN 2021
THE DAY BITCOIN DIED

>> No.26304029

>>26303897
>>26302049
Are you guys mentally challenged ? He literally just explained that it is not free money or double spending.

>> No.26304065

>>26304011
>That is why you wait for multiple blocks before accepting that a transaction is valid

do all wallets check for multiple confirmations?

>> No.26304104

>>26304065
>Chinese doublespending since 2017.
>Have enough hashrate to prove anything on the chain.
>Fuck the burgers - no power anymore!

>> No.26304105

>>26302001
Doesn’t matter. I could double spend a lot in ten minutes.

Bitcorns is unironically over.

>> No.26304186

>>26304065
all exchanges do, not sure about wallets but they should

>> No.26304244

>>26304105
this

>> No.26304380

>>26302872
Why? You need 6 confirmations for a block. This is literally the first time in ages an erroneous block was approved by a miner and it's thrown out. It's literally proof how the system is secure

>> No.26304436

>>26304380
>>Chinese doublespending since 2017.
>>Have enough hashrate to prove anything on the chain.
>>Fuck the burgers - no power anymore!

>> No.26304517

>>26304105
It will be invalidated by the next block... It's only good if you can time it to scam some cross-chain DEX.

>>26304104
Not even the miners can break the cryptographic keys. They can't make double spends, but they can exclude transactions, preventing you (or rather Satoshi) to sell your massive bags.

>> No.26304568

>>26304517
>Not even the miners can break the cryptographic keys. They can't make double spends, but they can exclude transactions, preventing you (or rather Satoshi) to sell your massive bags.
ibf newfag has never seen bitmain asic whitepapers

>> No.26305009

>>26304105
My god dont people even understand how it works?

>> No.26305122

>>26301942
its for 10 minutes and it goes back to what it was imu

>> No.26305484
File: 712 KB, 720x780, 1605378426050.gif [View same] [iqdb] [saucenao] [google]
26305484

imagine it wasn't 0.00062063 BTC, but 100 BTC.

>> No.26305551

>>26301942
What is the news here? How many confirmations it survived?

>> No.26305594

>>26305009
you obviously do not understand newfag
bitcoin broken since 2017
cancer bitmain killed it long time ago

>> No.26305773
File: 8 KB, 297x169, 4e4b26f0db550eacb5c2738e2abddede1623a69529d0c80be33222719dd418e4.jpg [View same] [iqdb] [saucenao] [google]
26305773

>>26301942
>>26302049
>>26302344
>>26303367
>>26303897
>>26304011
>>26304105
>>26304244
>>26304568
>>26305484

> Or for example, what if a node is keeping two or more chains around as
> it waits to see which grows fastest, and a block comes in for chain A
> which would include a double-spend of a coin that is in chain B? Is that
> checked for or not? (This might happen if someone double-spent and two
> different sets of nodes heard about the two different transactions with
> the same coin.)

That does not need to be checked for. The transaction in whichever branch ends up getting ahead becomes the valid one, the other is invalid. If someone tries to double spend like that, one and only one spend will always become valid, the others invalid.

Receivers of transactions will normally need to hold transactions for perhaps an hour or more to allow time for this kind of possibility to be resolved. They can still re-spend the coins immediately, but they should wait before taking an action such as shipping goods.


Satoshi Nakamoto --The Cryptography Mailing List -- 2008-11-09 01:58:48 UTC

>> No.26305776
File: 36 KB, 500x465, 1557278401957.jpg [View same] [iqdb] [saucenao] [google]
26305776

>>26301942
The exchange only waited for one confirmation instead of the typical six. The exchange is at fault and the BTC blockchain worked as intended. Delete your thread there's nothing to discuss here unless you're a smoothbrain.

>> No.26305922

>>26305773
stupid talk. only ones confirming are chinese asics you fool

>> No.26306016

>>26305773
>>26305776
>double spending money
>works as designed
this thread is the prove, that bitcoin is literally africa tier technology

>> No.26306126

>>26306016
bitcoin = africa tier
xmr = us tier
??? = china tier

>> No.26306181

>>26306016

Clearly you have no idea how bitcoin works, retard.

>> No.26306271

>be company
>create transaction for x bitcoin
>client send x bitcoin
>double spends for y bitcoin
>company gives client service
>finds out they've been double spent
>asks client for proper amount
>if not, ban and call police for fraud

welcome to Satoshi's Vision, faggots

>> No.26306283

>>26306181
software never gets better when it gets old
bitcoin old shit and worthless since chinese hack

>> No.26306292

>>26306016
t. smoothbrain
Like I said, there's no need to be in this thread unless you're retarded, so I'm out. Good luck with learning to read, Anon.

>> No.26306330

>>26306283

>wörf wörf ööö wööö

>> No.26306336

>>26306016
>this thread is the prove, that bitcoin is literally africa tier technology
>https://bitcointalk.org/index.php?topic=152348
You should think before you speak

>> No.26306338
File: 239 KB, 1200x859, 1520105824214.jpg [View same] [iqdb] [saucenao] [google]
26306338

>>26306292

>> No.26306365

>>26303367
can you imagine having a competitor have their block orphaned and you win it instead? it cuts both ways, the system is equal. miners need to do their work

>> No.26306407

>>26306271

Thats why you wait for 6 confirmations.

>> No.26306423

>>26305773
>Receivers of transactions will normally need >to hold transactions for perhaps an hour or >more to allow time for this kind of possibility to >be resolved.

Why was Bitcoin designed to be so slow?

>> No.26306560

>>26306407
>buy access to movie
>wait 1 hour to receive access

no, you have an IP, you might have an account, for instance you might have a moneybutton wallet or some other convenient non-custodial wallet that's interconnected with other services

if you fuck around, you get banned or you get the police called on you, just like in real life

no one is going to stand at a vending machine waiting for an hour to get a can of coke, after paying the $12 fee

>> No.26306599

>>26302023
They didn’t wait for two, I never saw a two conf double spend

>> No.26306699

>>26301942
The FUD is becoming more sophisticated. Extremely bullish.

>> No.26306715

>>26302001
My man

>> No.26306935

>>26306423
>They can still re-spend the coins immediately, but they should wait before taking an action such as shipping goods.

Bitcoin has a solid fundation, yet no disrupting new ideas have been added over the client that satoshi nakamoto created

>> No.26307056

>>26306599
>>26306699
CHECKED FOR DIGITS. BTC IS GOING TO MOON

>> No.26307481

>>26306016
>africa tier technology

The only thing you've proven here is that you have africa tier reading comprehension.

>> No.26308144

>>26306699
CCHEEKKEEDD

>> No.26308324

>>26301942
SELL YOU RETARD

>> No.26308361

>>26302034
it's the top reddit comment copy pasted...

>> No.26308451

Reminder that the chinese have enough power to do this whenever they want.

This could have been a test.

>> No.26308460

>>26301942
This is why we wait for confirmations.

It's a nothing burger.

>> No.26308524
File: 43 KB, 450x250, 1598206804261.png [View same] [iqdb] [saucenao] [google]
26308524

this is why you are supposed to wait for 3-5 confirmations.
everything worked as intended

>> No.26308613

>>26303897
>so if you send BTC to some address before it is confirmed, you get away with it?
yes
people scam RuneScape gold with that method all the time

>> No.26308849

>>26308361
KEK

>> No.26308859

This is not what a double spend is you retards

>> No.26308870

>>26302001
this people need to calm down

>> No.26308907
File: 85 KB, 294x313, 1571984988143.png [View same] [iqdb] [saucenao] [google]
26308907

>>26301942
WRONG

All you need to read is this
https://twitter.com/aantonop/status/1352258125932371968

>> No.26309092

>>26302001
Lol so one has to wait up to thirty minutes for transactions to appear as valid. Buttcorn is chink vaporware. Scotty doesn’t know

>> No.26309252
File: 92 KB, 602x533, Screenshot from 2021-01-21 15-48-08.png [View same] [iqdb] [saucenao] [google]
26309252

>>26301980
>>26302333
Yes, And Craig Wright of Bitcoin SV,
forcing Bitcoin Core to take down the Bitcoin whitepaper

>> No.26309335

>>26308907
kek you so butthurt
buttcorn is oldfagcoin:

wrong transaction by chinese party
first confirmation - chinese miner
next confirmation - chinese miner
next confirmation - chinese miner
next confirmation - chinese miner
next confirmation - chinese miner
transaction done

fuckin pathetic

>> No.26309346

>>26308907
when 6block reorg happened in bsv reaction was different
https://twitter.com/nikzh/status/1118899374027878400

>> No.26309469

>>26302049
>LN BTC can play Shadow Squadron
cool

>> No.26309533
File: 726 KB, 500x500, ErsL6lbW8AUfnRq.gif [View same] [iqdb] [saucenao] [google]
26309533

>>26301942
Good, I wish this shitty coin crash and better ones take its place.

>> No.26310147

ITT: smoothbrains who doesn't understand how a blockchain works

>> No.26310212

>>26310147
Today i learned this board is 95% newfags that have never read a whitepaper

>> No.26310225

>>26310147
blockchain easy to understand and good stuff
only bitcoin is oldfagcoin

>> No.26311039

>>26301942
i made that OP image

>> No.26311064

>>26301942
Op is a faggot and wrong. No double spend.

>> No.26311089

>>26302001
based

>> No.26311289

>>26303897
do you even know how crypto works?

fukcing retards i swear

>> No.26311343

>>26302001
>wall of boring text
Nobody cares. BTC was successfully double-spent. This is worldwide knowledge now. BTC is fucked.

>> No.26311363

>>26301942
AHHHHHHHHHHHHHHHH
SELL SELL SELL SELL SELL SELL
SELL SELL SELL SELL SELL SELL

>> No.26311400
File: 287 KB, 710x706, 6oftsjl7s1611.jpg [View same] [iqdb] [saucenao] [google]
26311400

The currency of the future!
HA!

>> No.26311497

>>26301942
It's over bro. You should have sold at $41k

>> No.26311530

>>26304105
do it and pump our shitcoin bags then. double spend all the bitcoins sir....for the shitcoins.

>> No.26311535

>>26302051
massive buy signal

>> No.26311625

>>26301942
NO. MINISTER YOU SATOSHI!

>> No.26311773

Lol this is retarded. This is why you wait for multiple confirmations, this is exactly how bitcoin is supposed to work as described in the white paper. Only one tx made it onto the canonical chain, that's not a double spend.

>> No.26312205

>>26303897
the absolute state

>> No.26312330

>>26301942
are you guys retarded? there is no double spending. high fee transaction never confirmed....

>> No.26312495
File: 25 KB, 400x400, 1609083473173.jpg [View same] [iqdb] [saucenao] [google]
26312495

>>26301942
literally working as intended
I can hook you up with some nootropics if you want, might help with your mental issues

>> No.26312734

https://www.zerohedge.com/markets/no-there-was-no-double-spending-bitcoin

>> No.26312785

>Professor Jeremy Byzantine from M.I.T. said that this is the first crack that indicates a “high likelihood of a tremendous digital structural collapse”. He commented that he expects the Bitcoin blockchain to be strained with a heavy load for 2-3 weeks. If the code base isn’t fortified, “the entire blockchain will simply collapse”, says Professor Byzantine. Crypto enthusiasts on Reddit have likened this to the terrorist attacks on Capitol Hill that happened earlier this year, saying that the democracy of Bitcoin must be protected.

>> No.26312959
File: 241 KB, 1672x1672, 1552101641674.jpg [View same] [iqdb] [saucenao] [google]
26312959

>>26312785
>Crypto enthusiasts on Reddit have likened this to the terrorist attacks on Capitol Hill that happened earlier this year, saying that the democracy of Bitcoin must be protected.

>> No.26313108

>>26312785
>Professor Byzantine
nice touch

>> No.26313306

>>26308907
this guy is unironcally extremely based

go learn about bitcoin on his youtube channel for real you children go

>> No.26313660
File: 210 KB, 640x344, UNNIEZMAZE.png [View same] [iqdb] [saucenao] [google]
26313660

>>26301942
I sold 80% of my Corn at $41K like any normal human.

Bought $36K and will continue buying all the way down.

The real meat will be in newer De-Fi shit like UNN. Union is gonna 100x while everyone wonders how they coulda missed it.

Rats...

>> No.26313793

>>26306016
I think you are missing a couple wrinkles in your brain anon.

>> No.26313973

>>26302001
This.

This was a feature, not a bug. This wasn’t double spending, it was the blockchain self-auditing an attempted double spend.

>> No.26313999

>>26304029
On a Mongolian throat singing board full of retards, there's no need to ask. The amount of ignorance about the supposed 'double spend' is absolutely ridiculous and now the price is crashing from their stupidity. Good thing I sold at the top kek.

>> No.26314002

its like blackrock wants to put out low iq reports so the retards sell it down and they can swoop in at cheap prices

>> No.26314107

>>26301942
>Even if it's "only" 10 minutes, it's really bad news. In this 10 minutes you could have bought something else with this btc or switched it to another currency.


WRONG.

The double spend only lasted one block.

In order to do anything with the bitcoin it needs to have >6 confirmations

>> No.26314261
File: 116 KB, 512x427, 568131E7-4FC6-4973-9984-081C75DB220E.png [View same] [iqdb] [saucenao] [google]
26314261

>>26302001
>>26302014
>>26302034
>>26302120
>>26302695
>>26303979
>>26304029
>>26305009
>>26306181
>>26306292
>>26306699
>>26307056
>>26310147
>>26311343
>>26311535
>>26311773
>>26312330
>he thinks this is sustainable for world adoption
You coping retards are comedy gold. Stumbling over each other saying it wasn’t double spending, the other nogs saying this was intended to happen. There was no double fee and that was confirmed, this is a double spend. Not saying this will collapse Bitcoin but you’re literally fucking retarded if you think this will scale for world wide adoption, and you should consider toaster bath if you unironically believe the corn will be a world reserve currency.

>> No.26314338

>>26314261
checked & based

>> No.26314361

>>26301942
>Even if it's "only" 10 minutes, it's really bad news.
fucking newfag used to be 6 confirmations we had to wait for bitcoin. that's an hour. fucking retard.

>> No.26314404

>>26301980
nah it's just technical reasons. tether fud was way more serious than this bullshit.

>> No.26314412
File: 55 KB, 360x360, 1609869063109.jpg [View same] [iqdb] [saucenao] [google]
26314412

>>26314261
I'm serious
I can hook you up with some nootropics, they help

>> No.26314414

>>26308859
Shhhhh, just let them dump. I need more BTC.

>> No.26314599

>>26313973
It wasn't even an attempted double spend. Just two blocks minted at the same time, which is rare but it happens. Eventually one chain will be longer and that's the one nodes accept. Working as designed

>> No.26314620

>>26314261
> what are orphaned blocks

If this is the extent to which you retards understand crypto it's no wonder you always sell at a loss

>> No.26314676

>>26311343
>most responded to post in thread
>nobody cares

>> No.26314737
File: 41 KB, 659x525, 1516474316030.jpg [View same] [iqdb] [saucenao] [google]
26314737

>>26314261
this

>> No.26314816

>>26311343
>BTC was successfully double-spent.
nope and it's not the first time this happened either. you fags act like this is news... but it's like spotting a plain white zebra. shit is rare but it's out there.

>> No.26314841

Lol at the cope. Its not a bug or feature its a design flaw. If any nation ever controls 50%+ of the hash rate they can totally take over bitcoin and stop ALL transactions, and if they keep their fork private for a few blocks they could doublespend as much as they want.

>> No.26314910
File: 29 KB, 550x335, 1457983662851.jpg [View same] [iqdb] [saucenao] [google]
26314910

>>26314841
sirs it's not a bug, it's a feature

>> No.26314918

>>26301942
It's not a double spend you dumb fuck. Only one of the transactions made it onto the chain. This is why you need to wait for multiple confirmations. Goddamn this board is even dumber than reddit sometimes.

>> No.26314923

>>26302859
Bitmex published this BS on purpose. They know how Bitcoin works, they published this fake double spend news deliberately

>> No.26315106
File: 30 KB, 640x359, 0_IDr1WRFx5kVdULGa.jpg [View same] [iqdb] [saucenao] [google]
26315106

Everybody here a newfag and noone remembers how BSV and BCH tried to 51% attack each other?

>> No.26315204

>>26315106
What a faggot

>> No.26315244

>>26315106
this guy types like a /pol/ LARPer lmao

>> No.26315254

>>26304002
Not sure if bait or unironic boomerposting

>> No.26315266

>>26314841
checked & based

>> No.26315325

>>26314261
based

>> No.26315372

>>26314841
>Its not a bug or feature its a design flaw.
so you don't know the first thing about bitcoin? is that what you are saying? ok.

>> No.26315419

>>26315244
he probably is. i wouldn't be surprised if "q anon" and craig would be the same person. right up his alley.

>> No.26315545
File: 464 KB, 669x1000, eth_logo.png [View same] [iqdb] [saucenao] [google]
26315545

i hear there's a coin that solved this problem

>> No.26315591

>>26315372
ibf newfag believes software has no bugs
using windows 10

>> No.26316032

>>26301942
Going to be a lot of disinfo about BTC in the near future now that the regime really wants to kill it since it threatens their monetary authority.

A double-spend on an orphaned branch isn't anything. It lasted for 10 minutes before it was kicked out, like any bad transactions in any financial system.

>> No.26316076

>>26316032
lol oldfagcoin china owned since 2017
use xmr bitch

>> No.26316098

>>26315591
how new you are? this was discussed to death on the old foundation forum.
and no this was not a bug. at all. bitcoin worked as intended. not saying there hadn't been shittons of bugs in bitcoin codebase. just this ain't it.

>> No.26316105

>>26301942
Oooooo boy y'all fucked now AHAHAHAHAHA ho nonono FUCK!!!!!!*bang*

>> No.26316181

>>26316098
check miner ips - originate great firewall vpns fool

>> No.26316302

>>26314918
OP literally posted a reddit link. What's the world coming to

>> No.26316361

>>26316181
ip addresses have nothing to do with this newfag.
where were you when we had to wait 6 confirmations because of this possibility? still in your fathers nutsack?

>> No.26316443

>>26314841
And in the process basically ensure no more foreign money comes into their now self destructed zombie asset. Like breaking the hoover dam because "you'd get a lot of water at one time. And water is good!"

>> No.26316460

>>26316361
ibf:
china has harate majority
has majority since 2017
can change future chain
newfag cope with it

>> No.26316621
File: 324 KB, 1080x1624, Screenshot_20210121-125412_Chrome.jpg [View same] [iqdb] [saucenao] [google]
26316621

$CLF

Let's go

>> No.26316630

>>26316460
dude lay off the smoke.
the thing that happened here is two miners started working on two different blocks (as is usual) and one of them included a version of a tx that didn't receive a fee bump and the other included the later transaction that had a fee bump.
the miners both found a different block at same block height and one of the blocks got confirmed by working on by a miner once again and became the longest chain.

do you think miners throw away all their work just because a tx they included received a fee bump meanwhile they were hashing it? fucking idiot...

>> No.26316651

So let me get this straight. Btc was spend in 2 different blocks, after a while one of the blocks was orphaned and only one tx was left on chain?
How the fuck is this news in 2021. Are crypto investors this fucking retarded?
There is no way in hell that this drop is a result of this news. If it is, we're all fucked due to the shear stupidity of crypto investors.

>> No.26316721

>>26316651
>How the fuck is this news in 2021.
dunno man... shittons of newfags and some trolls pouring oil on this fire in the shitcan.

>> No.26316732

>>26316630
stuff is oldnews
only chinese miners matter
deadcoin is dead
use goodcoin and let it be

>> No.26316839

>>26316732
idiot china only has 50% hashrate geographically now. not even enough for a 51% assuming anyone could coordinate it.

pools don't matter. costs $0 to set up or move a pool or rejoin a new one.

>> No.26316885
File: 55 KB, 463x640, 3c4224010e42c83818efe80b2c3a7421.jpg [View same] [iqdb] [saucenao] [google]
26316885

Big dick transaction won't go anyware with at least few hours of miner pussy.

>> No.26316943

>>26316839
you dumb as fuck
just dont get it living in 2012

ibf:
cpu mining
gpu mining
asic mining -> only chinese asics

>> No.26316951

>>26316721
Buy the dip.

>> No.26317023

>>26316943
nope and for a very simple reason.
price of electricity. china is not cheapest for a long time.

>> No.26317190

>>26317023
ibf: dumb as fuck
xinjiang biggest source of uranium in world
slave labour of uigurs in xinjiang to mine uranium
new powerplants in xinjiang
biggest hasrate origin: xinjiang
newfag dumber as fuck

>> No.26317529

>>26301942
creidibility ruined forever. Enjoy the crash retards

>> No.26317668

>>26301942
Moron, no one delivers anything after 1 block for this very reason. Average conf time is 6 blocks.

>> No.26317789

>>26304065
No but merchants do.

>> No.26317805

>>26317190
yes you are dumb fuck

>> No.26317871

>>26309252
Fuck is going on with that ?

>> No.26317946
File: 608 KB, 800x600, 1595811188044.png [View same] [iqdb] [saucenao] [google]
26317946

>>26302001
according to Antonopoulos 2-block reorganization happens a few times a year and even 3-block reorganization can occur but how the fuck?

>2 different blocks are mined - one says transaction occurred, the other that it did not occur
>block with transaction occurring is finished first and gets chosen
>miners move on to next block - one mining the future block of the block with transaction, one mining the future block of block without transaction
WHY? shouldn't the chain that finished last get dumped by the miners?
>block without transaction finishes faster
>chain without transaction occurring is chosen
does this mean that one chain could run parallel to the official chain in secrecy for years and then announce itself whenever it wants as the longest chain, undoing years worth of transactions?????

>> No.26318012

>>26317871
cowards bunch of cowards.

https://bitcoin.org/en/posts/regarding-csw
not everyone is a coward tho. ball is in craigs court now.

>> No.26318047

>>26317946
It could, but the work required to maintain that is more than the work needed to just commandeer the chain outright, so it begs the question of what the point would be.

>> No.26318060

lmao thank you for selling. now I can buy more on discount

>> No.26318065

>>26317946
>does this mean that one chain could run parallel to the official chain in secrecy for years and then announce itself whenever it wants as the longest chain, undoing years worth of transactions?????
and if this shit is true is anyone backing up the blockchain each block so we can somehow retrace to the old chain with "real-bitcoin" if someone announces a longer, false chain?

>> No.26318117

>>26317946
>WHY? shouldn't the chain that finished last get dumped by the miners?
not necessarily. miners are free to continue on their own chain instead of a competitors if they hope they can gain the upper hand in the future. can win or lose.

>> No.26318127

>>26318047
>sell billions of dollars worth of btc to hedge funds
>reverse transaction months later
maybe?
also >>26318065

>> No.26318167

>>26317946
>does this mean that one chain could run parallel to the official chain in secrecy for years and then announce itself whenever it wants as the longest chain, undoing years worth of transactions?????
indeed. called shadow mining, but it's mostly a threat to shitforks with no hashpower. like bch and bchsv. also this gamble could end up biting you in the ass as global hashpower grows.

so all in all a bad gamble on btc to even think about it.

>> No.26318185

>>26301942
This is what happens when normies enter crypto. You can't expect people not to get fuded if they are 90 IQ retards who can't read a fucking wiki explaining how it all works.

>> No.26318209

>>26318185
which is why i think this is a fud campaign by the same people that spammed the tether threads.

>> No.26318280

>>26318209
>Load the Tether FUD, that worked fine last time
>Rejected.exe
>Load the regulated taxed and b& FUD
>Rejected.exe
>Load the Double Spend FUD

>> No.26318331

>>26318280
wonder what comes next?

>> No.26318371

>>26318331
oh yeah they will spam the wallstreet meme chart next week as we dump a bit like a full artillery barrage.

>> No.26318414

>>26318331
Chinese New Year lel

>> No.26318421
File: 312 KB, 740x539, 1595940249305.png [View same] [iqdb] [saucenao] [google]
26318421

>>26318047
>>26318065
>>26318117
>>26318127
>>26318167
what if I told you Chinese whales used the money they made 2017-2018 setting up a shadow mining operation to reverse the sale of $28 000 000 000 worth of BTC to US hedge funds?

>> No.26318491

>>26318280
When China fud

>> No.26318535

>>26318421
>what if I told you Chinese whales used the money they made 2017-2018 setting up a shadow mining operation to reverse the sale of $28 000 000 000 worth of BTC to US hedge funds?
i would say it's bullshit.

>> No.26318737

>>26318421
https://bitcoin.stackexchange.com/questions/1797/what-are-checkpoints

>> No.26318775

>>26318535
measuring btc in usd is bullshit too
better measure in gold

>> No.26318872

>>26318737
yes that would almost certainly happen so the profitability of such an attack is hard to even postulate.
then you have the problem of how to hide the facilities and energy consumption of hashpower equal or greater to bitcoins which is already that of a small countries.
then where would you produce your asics as capacity is scarce as fuck. so on so on.
chances of hidden hashpower existing are closer to zero than trump winning at this point.

>> No.26318929

>>26318775
nah gold is so last century. i have some and can barely wait to get rid of it somehow tax free.

>> No.26318948

>>26302001
Not reading this, What a load of shit.

>> No.26318974

>>26318929
i would not trade gold for btc
but i would trade gold for xmr

>> No.26319019
File: 177 KB, 383x447, F374BDAD-5A2C-450D-AC73-AEDA771FF99D.jpg [View same] [iqdb] [saucenao] [google]
26319019

>>26306271
These guys Ver and Wright are such ego maniacs that are willing to burn down the whole system. They are like petulant children.

>> No.26319052

>>26301942
This is literally how bitcoin works. Blocks compete for acceptance, and the longest chain wins. This is why you wait for a good number of confirmations before accepting that the transaction is final.

The only flaw here is that bitcoin's block timing is way too fucking long. 10 minutes per block is insane. Once again, XMR has made the better design decision.

>> No.26319086

>>26318737
>>26318872
wasn't the last btc checkpoint back in 2014?
pretty sure core abandoned checkpoints because they thought it was pointless

>> No.26319100

>>26319019
cancer that must be purged !

>> No.26319137

>>26317946
Theoretically, yes. But you'd have to be hiding more hash power than all the public hash power combined, for years.

>> No.26319218

>>26318065
If that chain is longer, then it *is* the real chain, by definition. The whole point is that there's no person or group of persons deciding which chain is the legitimate chain.

>> No.26319410

>>26319086
Yeah, you're right. So theoretically it is doable.

>> No.26319501

>>26302151
So if profits are taxed I only need to do bad trades and then ask for capital losses to be paid from US government?

>> No.26319551

>>26319501
cuck move anon

>> No.26319634

>>26319218
>There's no person or group deciding which chain is the legitimate chain
There kind of is. Wait for BTC Classic and BTCCCP, then miners and the whole system will choose

>> No.26319692
File: 360 KB, 1660x1323, buzz.jpg [View same] [iqdb] [saucenao] [google]
26319692

>>26319410
cool

>> No.26319746

>>26319634
no asic system can win this
its either storage or cpu

>> No.26319861

>>26319086
checkpoints are pointless if the majority of hashpower honestly participates in the network.
because then the nakamoto consensus works as intended.

we were talking about specifically a scenario where the nakamoto consensus would fail. this would fuck up the price of course and result in a chain split 100%.

>> No.26320024
File: 2.00 MB, 240x180, 1610005493966.gif [View same] [iqdb] [saucenao] [google]
26320024

Lol no, retard, that's not how it works. If you spend any considerable amount you wait for multiple preferably 4 or more confirmations before considering the transaction finally settled.

This is Bitcoin 101 but since faggots like you wish to spread fud and yellow journalism, we have this nothingburger.

This is literally Bitcoin working like it's supposed to.

>> No.26320245

based

>> No.26320318

>>26316885
And... /thread

>> No.26320395

>>26320318
so why cant you just double spend an arbitrary amount of tiny transactions until that equals a big amount? stop trolling if you have nothing smart to say don't say anything at all ass clown. iv been double spending for months and now its been leaked out and all my fake money is going to be worthless

>> No.26320760

>>26320395
the trick is to cash out before the normies get it.
if you cant - have fun staying poor

>> No.26320888

>>26302001
>This is not a bug in bitcoin
if true, this is a MAJOR FUCKING BUG you dumbshit

>> No.26320995

>>26320395
It's not double spending, because the first spend never happened. Caveat Venditor, if you don't wait for confirmation you deserve to get ripped off

>> No.26321141

>>26318974
i would trad gold for anything tax free. it would eat up half my ""gains"" ie i would lose even more money to inflation.

>> No.26321182

>>26320888
nope
summer child... how new you are?

>> No.26321289

>>26321141
calling usd money
paying taxes
you are a sad cuck

>> No.26321318

>>26304011
kys newfag

>> No.26321380

>>26321289
well i meant wealth/purchasing power as "money"
but of course usd is money to murricans, just not my legal tender

>> No.26321395

>>26301942
jfc the newfaggottry in here is disgusting

learn how bitcoin works retards

>> No.26321450

>>26321141
the biggest issue with gold is since nobody can tell if it's real or fake with a phone app like with bitcoin i can only sell it to gold merchants and they are required by law to report it to the local version of irs.

>> No.26321570

>>26306423
Go ahead use bitcoin cash, bitcoin gold or lightning if you want faster transfer

>> No.26321575

>>26302014
this

OP is a braindead retard that doesn't understand anything about crypto, which is no surprise he browses /biz/

>> No.26321580

>>26321380
you are right - burgers are fucked
but so are eur, yuan, can, nzd, sfr - all fiat depends on the usd

>> No.26321693
File: 29 KB, 512x512, 7C03C103-1EFF-4FC7-A0B3-572F1BC861FA.jpg [View same] [iqdb] [saucenao] [google]
26321693

I like the Avalanche Solution to doublespends, if you try to doublespend the only one who is fucked is you and your transactions will be just stuck until you fix it.

>> No.26321930
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26321930

>BIT
>MEX
>RESEARCH
OHNONONONONONONO YOU CANNOT BE SERIOUSLY TELLING ME PEOPLE ARE SELLING BECAUSE OF THIS????
HAAHAHAHAHHAHAHAHAHHAAHHAHAHAHAHHAHAHAHAHAHAHAHAHAHH

>> No.26322049

>>26321930
like they want it to dump, so they make money on liquidations

>> No.26322146

>>26321930
>Our top scientists looked into this and the key finding of our groundbreaking research is
>Arthur likes money

>> No.26322393

>>26314261
Just watch the 3blue1brown video retard

>> No.26322438

>>26302001
>t. Satoshi Nakacope

>> No.26322630

>>26314412
What do you recommend? I've been cycling kratom and modafinil but I'm currently feeling sleepy and want to try something else.
>>26314261
Anybody who understands bitcoin (maybe .5% of this boards) knows there's no problem with an orphaned block.

>> No.26322746

>>26305773
based and know how things workpilled

>> No.26323045

>>26322630
I'm pretty fond of Modafinil too
on top of that noopept is pretty solid with a choline supplement, phenylpiracetam and pramiracetam are also some of my favorites