Double Spend FUD Crashes Bitcoin Below $30,000; Return of Bear Trend?

BlockCypher provides Bitcoin wallet services to larger organizations such as exchanges and payment providers. During the recent fracas of "dust" transactions crowding the Bitcoin network, one of their larger clients, Erik Voorhees' ShapeShift.io, suffered a double-spend attack amounting to 2.6 BTC. The biggest offering of BlockCypher is what they call a "Confidence Factor" which basically means what it sounds like - if the processor is reasonably sure (as in more than 99%) that a double-spend will not be attempted, the transaction is processed with zero confirmations. BlockCypher describes....

The GlassHunt Double Spend Tool was exploited through an SQL hack. The assailant broke into the company database and seized close to US$5,000 worth of Bitcoin in the process The GlassHunt Bitcoin Double Spend Tool has been quite successful so far. Many people have tried this solution in an attempt to successfully double-spend their Bitcoins. However, the service has undergone a significant setback. An unknown hacker stole nearly US$5,000 worth of Bitcoin from active users who were waiting to double spend funds. The saying “karma is a bitch” seems to apply here. Any company successfully....

Following the Bitcoin price crash toward $60,000 in early February, the question on the lips of every investor is when the bleed will end. To this end, a number of analysts have shared their expectations and predictions for where the Bitcoin bottom might be. Some have posited that the worst is over, while others have suggested that there are still more crashes to come. Following the latter trend, crypto analyst Plan C has shared why they believe the Bitcoin price has finally reached a bottom. Bitcoin 80-90% Crash Not Possible This Time Around In previous cycles, when the Bitcoin market had....

The topic of transaction fees has been kicked around a few times in the world of Bitcoin, but the question remains whether or not wallets are ready to deal with opt-in replace-by-fee. Several exchange platforms have taken the necessary steps to detect opt-in replace-by-fee situations, but more efforts are needed. It will come as a big surprise to find out a lot of most popular Bitcoin wallet solutions in existence have some serious flaws regarding security, as well as detecting double-spends. Especially this latter part is of particular worry, as a double-spend attack puts the recipient at....

Patents are not something native to the Bitcoin world, but that isn’t keeping companies from trying to file them anyway. Bank of America has been trying to patent various blockchain-based solutions in the recent months, and now Verisign is looking to do the same. Based on a recent Medium post, we can see how Verisign wants to address the double spend scenario in the digital currency world. Verisign Solved The Double Spend Problem? Even though very few people are concerned about the prospect of being subject to a double spend in the Bitcoin world, although other types of digital currency....