Lean and Busted MoneyGram: Xoom is the quickest busted your table at 4 hours, followed by Moneygram hours. And as I talk up the series, I can sense Mougayar, who meets Bitcoin Sign Guy under his real name, seems confused and maybe a bit offended by the selection. Bitcoin also does not need to leave the country of origin, making compliance with capital controls easier. I think there are only 1, businesses in the world that will accept bitcoin, and most, bitcoin not all of these, are small merchants and none are large retail chains. So everyone runs busted crazy waving their hands that USD is dying it will eventually collapse at some point, or other huge implications will happenbut bitcoin is the same, it can be bitcoin by the same problems a real world currency can be, its highly volatile and busted backed by anything alas bitcoin is not either. Scientists urge United Kingdom to fortify flour with folic acid to prevent birth defects Jan.
But what do you know about alleged double-spending attempts that were sent to the SAME address more than once? These teenagers have no clue as to why we have money laundering laws and a Federal Banking system. Yes, transferring bitcoin-to-bitcoin is virtually free, but how is it relevant for In any event, I am wondering if anybody knows the answer to the question about how, when or if these alleged double-spend attempts EVER end up correcting themselves on the blockchain… Is there any good reason for me to believe that this apparent technical problem created by the Mycelium Android wallet itself is ever going to be corrected over a period of time? Theoretically, if the Bitcoin software was more user-friendly and currency conversion was easier or a non-issue due to a universal, stable bitcoin value , then Bitcoin could be used to transfer value from one wallet directly to another without relying on third-party companies. The simplest way is to send all your bitcoins to yourself.
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No retail banks will accept bitcoin. Busted your email address to subscribe to this blog bitcoin receive notifications of new posts by email. By Meredith Wadman Jan. This is busted you can bitcoin multiple wallet providers with different features bitcoin security. How could this happened?? I bought them with 4 minutes difference. Busted has the potential to greatly displace gold and other precious metals as a store of value.
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It's also designed to be used as a currency, not an investment. Right now it's at its infancy hence the value fluctuates a lot but it's not designed to help people make loads of money. If you are getting in hoping to get really rich and didn't then it's really your own fault. Bitcoin also doesn't magically help money launderers and drug dealers either. Guess what's better than bitcoin for that? Cash transactions are untraceable and private unlike bitcoin, so unless we want to ban cash not sure why bitcoin is blamed for that.
The hard part of money laundering is usually not in tracing the money anyway, but rather justifying your source of income. For example if you have no job and suddenly bought an expensive house with cash or bitcoin you better have a compelling story to tell IRS Is it risky to invest your money into?
Does that make it a scam? With bitcoin people are actually in control on their own money. It allows for less dependency on third parties and middlemen who always take a slice of the profit for themselves.
If you're looking for the scam, you need only look at the fiat currencies used by countries. The reason people are buying bitcoin is because they realize it's utility as a currency. I'm surprised that so many people at the end of still seem to not understand what Bitcoin is. Oh well, at least I see things changing. If Bitcoin is a scam, then the US dollar is a far greater scam. As long as there is internet access, bitcoin can do what gold does 10 times better.
Bitcoin has the potential to displace or even completely replace Western Union. It has the potential to greatly displace gold and other precious metals as a store of value. It is controlled by no single party and is both decentralized and distributed. Who is the scammer, if there is no one in charge of it? Bitcoin is a bubble, and so is every other form of money. A bubble is when people buy an asset, not to use it, but to trade it for some other asset at a later date.
Like Las Vegas real estate in , or Amazon. Com stock in , or tulip bulbs in And also like US dollars and like gold. If an asset is held only to trade it away later, and it fails to become money, the bubble pops and it becomes worthless.
If it becomes money Sceptics can read the source code, and evaluate it. Everything in bitcoin is completely open, that's the beauty of it. If it is a scam, why can I buy actual things with it right now?
There's going to be a bumpy road ahead, much like any new technology before it goes mainstream. Its a decentralized meaning nobody can scam you digital currency that floats like a real currency, except no one country backs it, the people who own bitcoins back it, and add value to it at the same time.
They can exist completely without any one central authority. Saying that Bitcoin in itself is a scam is just ignorant. Now saying that some people viewed as innovators of Bitcoin gone rogue are scammers is more appropriate. People as mark kerpeles mt.
They used Bitcoin as their scam. Much like people used cash as their scam or gold as their scam. I haven't found anything malicious in that code or anything that would give somebody the upper hand. Now if you are thinking, "well somebody can edit the code to steal your coins or make fake coins" that is not how it works.
Yes they can make a "fork" of Bitcoin but it will be on a separate blockchain. Meaning you cannot transfer those "forked" coins to the original Bitcoin. Well what is the blockchain? The blockchain stores all the wallet addresses, transactions, miner power and so on. It cannot be edited but only added onto with new wallets, transactions, miners etc.
It is not a website, but stored inside of the application itself on each and every computer or miner with the application. The websites you can find the blockchain on only show a graphical representation of what the blockchain has stored in it. This means the more people who use Bitcoin, the more secure the protocol is. Which, at this time, it is very secure and Bitcoin itself has proved unbackable.
The only way people can "hack" Bitcoin is to hack the websites or wallets and use their data or stored coins for themselves. This happens in everyday life everywhere and should be null. Now, onto the wallets. The wallets are NOT the Bitcoin protocol.
They only use the Bitcoin protocol as a base of information. You could use command prompt for your wallet if you know how to code it. This is why you can find multiple wallet providers with different features and security. They are not changing the protocol itself, but telling the protocol where to send the coins and storing that info in the blockchain. It is possible that a rogue wallet provider can program something malicious into the wallet itself to steal your wallet data to steal your coins but if you stick with well known wallets, you will not need to worry.
Online wallets can be dangerous so it is best to keep your wallet on a physical computer or USB. If someone makes a fake wallet that doesn't actually store real Bitcoin in it, you would be able to tell just by viewing the blockchain on a website. I have more to say, but not enough room on here. I will post about the human side of the ordeal I the comments. It isnt a scam, Its a very smart idea.
No government back up, that means the government ends, youll still have your money. Think of it this way, the confederate states created their very own currency in the little bit of time they were around, once the US won the civil war, that currency was worthless. WWIII, youll still have your bitcoin acceptable in places. Sign In Sign Up. Add a New Topic. Is Bitcoin a scam?
New to Old Created: Old to New Likes: Most to Least Likes: Least to Most Replies: Most to Least Replies: No, scams always have a hidden aspect to them. Related Opinions , Bitcoins Found: Should bitcoin owners have more avenues to reclaim their money? Should Customs policies be regulated by the UN?
Gox disappearance be an isolated event yes or will it be the first of many Bitcoin collapses no? Are the effects of computer hacking on the American economy significant enough to warrant stronger legislation? Do you think that most media bias is unintentional? Will Bitcoin eventually replace different global currencies? Are financial institutions in the United States not sufficiently regulated? Should banks have more regulations?
Do you think her suicide had anything to do with Bitcoin? Does the loss of anonymity make you less likely to adopt Bitcoin? In November it was discovered that the GHash. However no evidence supporting this was provided and the incident left a permanent cloud hanging over the pool. Then why use bitcoin at all? Banks are doing the same. You are trusting a third party, and now it totally depends on jaxx and copay to handle your funds in whatever way you want.
There is no decentralization. Well I believe I was tricked by an attaker like you say. I tried the doubler. Does anyone else got ripped off by this method in blockchain too. You just sent your bitcoin to a scammer, and they took it obviously.
You will not be asked for judging that Blockahin will do that. Whichever transactions get added first to the longest blockchain version is the valid one. On 6th od December I bought bitcoins in Bit2me. I already bought before and I had to problem. But the thing is that on 6th I sent them two bank transaction with the same value I bought them with 4 minutes difference.
But they sent the same bitcoins amount at the same time to my wallet. Now I cannot do anything because they say they sent the bitcoins to my wallet but was busted as double spent.
They told me to wait but I am very worry because it is a lot of money. Do you think I will loose all my money or it is just wait and I will receive it all? Any help will be appreciated. Thank you for your info!! I am in a deep trouble and confusion and need you advise urgently please! He told me to send 0. How could this happened?? I need your professional advise please, thank you!!!
A restart of the wallet and some patience typically fixes the issue. Run bitcoind and with -zapwallettxes. Create a new transaction to make your payment and add an appropriate fee this time. The simplest way is to send all your bitcoins to yourself.
This article appears to assume that any double-spending attempt is going to involve trying to send the same Bitcoin to TWO 2 different addresses. But what do you know about alleged double-spending attempts that were sent to the SAME address more than once?
I used the Mycelium Android wallet for this sweep attempt and have actually used the Mycelium wallet for this same purpose dozens of times in the past without any problems. INFO was still showing the funds fully available in the paper wallet. So with good reason to believe that the funds were never successfully swept from the paper wallet, I attempted yet a THIRD sweep of the wallet — and on the third attempt, it worked. So about an hour later, I go back into my Coinbase account to see the status of the transaction.
COM site as its choice of blockchain explorer, as opposed to using Blockchain. INFO or some of these other explorer sites. And when I clicked on the link into the explorer webpage, it gives the following ominous message:.
This transaction has been double-spent by d46fe0c4cb4bbb0cd…, be extremely careful when accepting this transaction!
One point to clarify here is that in making the three attempts that I did at transferring the funds from the paper wallet to my Coinbase account, I definitely used ONLY ONE Bitcoin receiving address from my Coinbase account. I did not attempt to send the Bitcoin to more than one address on any of the three attempts made.
So NOW where is the double-spend logic coming into play here, at least regarding this article? Although I may be wrong, it occurs to me that the author of this article is not particular savvy when it comes to this blockchain technology stuff, and so maybe there is not going to be a knowledgeable answer to this question coming from this forum. In any event, I am wondering if anybody knows the answer to the question about how, when or if these alleged double-spend attempts EVER end up correcting themselves on the blockchain….
Is there any good reason for me to believe that this apparent technical problem created by the Mycelium Android wallet itself is ever going to be corrected over a period of time? If that ends up happening, then the other thing I know is that the only way for this situation to correct itself is for the 0.