Did A Bitcoin Double Spend Really Cause An 11% Drop?

Asked by tdre Promote - View in Hive.blog - Audit

According to Business Insider:

Bitcoin falls 11% after report suggests a critical flaw in the cryptocurrency called 'double spend' may have occurred

> BitMEX Research tweeted that "it appears as if a small double spend of around 0.00062063 BTC ($21) was detected." > > BitMEX later said it appeared that the double spend was actually an RBF transaction, which is when an unconfirmed bitcoin transaction is replaced with a new transfer paying a higher fee. But BitMEX's Fork Monitor said that "no (RBF) fee bumps have been detected." > > BitMEX said in another tweet: "A transaction in the losing chain sent 0.00062063 BTC to the address 1D6aebVY5DbS1v7rNTnX2xeYcfWM3os1va, and a transaction in the winning chain which spent the same inputs only sent 0.00014499 BTC to this address."

Bitcoin-Benjamin

Do you think this describes a problematic double spending of BTC? Or is it just confusing reporting of a technicality. Something else?

Also, do you think this announcement was calculated to affect the BTC price in any way?


Image courtesy of Bermix Studio

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No, that's not a double spend. (33.33%) 1 / 3
33.33% Complete (success)
Uhm, that's something else entirely and it's a problem. (33.33%) 1 / 3
33.33% Complete (success)
I dunno. (33.33%) 1 / 3
33.33% Complete (success)

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