Topic: Flash Bitcoins r not a threat? (Read 241 times)

if you know how to check the transactions involved, you will understand if those bitcoins are fake or not. check the address in the blockchain, and see if it is indeed in the said address. only those who don't dig enough will be victims of this scam. though i haven't encountered about these so-called flash bitcoins. but it is not a threat as it won't affect the price in the market.

Flash Bitcoin is never a threat and is only used by scammers to deceive their target. I got to know about it out of curiosity when I saw someone post his wallet balance on social media. It was an outrageous amount and many people actually believed he was rich. A little digging revealed it was all scam that foes not take time to notice.
Facebook have several groups advertising such services for people that want to scam others.

I doubt it is the bitcoin we know today, if it runs on the same blockchain. While I think it is a distinct and perhaps highly regulated entity, it is not a blockchain but a centralized management system. Now, I doubt that there is a currency that is more centralized than fiat, so what the OP is talking about is not a threat at all because we have long been used to it.

While it's true that there are many scams and fraudulent activities in the cryptocurrency world, the concept of "flash bitcoins" that disappear after 90 days seems to be a misconception or misinformation. Bitcoin transactions are recorded on a public ledger called the blockchain, which is immutable and transparent. Once a transaction has been confirmed, it cannot be reversed or disappear. So you should check transaction first.

As for shorting Bitcoin, it's a personal decision that should be based on your own analysis and risk tolerance. Bitcoin is known for its volatility, which can lead to substantial gains, but also significant losses. It's advisable to consult with a financial advisor before making such decisions.

Remember, don't invest more than you can afford to lose and always stay informed about the latest news and trends in the crypto market.

Flash bitcoins are no threat to anyone who knew how bitcoin works. For the most part the only ones at risk here are newbies. also why the hell would you short bitcoin lol this shit has been on for quite some time already, if Flash bitcoins are going to cause a bitcoin crash it's not going to be anytime soon. It would've been years ago when they were first invented. Another one of these people who sensationalize shit that's not supposed to even scare the average investor. Perhaps try looking into blockchain websites and newsletters first before actually posting topics here? I don't know just seem a little redundant having these guys talk about stuff that's already in the past.

To everyone wondering what those are:

- they are not some altcoins or tokens or anything else
- a scammer claims he has found a bug in the code that allows him to send real bitcoins that will be returned after 90 days to his wallet (the transaction will magically disappear from the blockchain)
- the scammer charges you upfront 10BTC for allowing you to send 100 BTC with their software which will return the said 100 BTC to you after 90 days

So, a SCAM!

Oh, after the initial scam there are some other copycats that pretend to sell you the software for like $50-$100, no need to say it doesn't work and you're going to maybe even get a wallet full of malware that will drain your funds immediately.

Flash bitcoin cannot affect the crypto market neither can it affect bitcoin in anyway. This is because it is the individual that wanted to buy bitcoin from scammers that it will affect since he didn't wait for the confirmation of the transaction to be successful before paying for the bitcoin.

Flash bitcoin is sent by scammers to their victim who doesn't understand how bitcoin works, maybe because he is eager to buy bitcoin. When bitcoin is sent to your wallet, it takes some time for it to be confirmed successfully, but doing the process of confirmation, the amount of bitcoin will reflect in your wallet partially. Which you will see it but at that moment, it is not yet in your wallet fully, and such bitcoin can still be diverted to another wallet when you use RBF.

It means the sender will double spend by creating the same transaction but will a higher transaction fee from the previous and that will make miners add this new transaction to be block chain for quick confirmation, than the first one. The moment it is done, the previous address will no longer receive that bitcoin because it has been diverted to another wallet with a high fee.

Only buy bitcoin from exchanges using p2p, if you don't trust or know the seller to avoid scam. You can use centralized exchange like Binance, if you don't care about your privacy, but if you care about your privacy, you can use a decentralized exchange like bisq to buy and sell your bitcoin.

Flash bitcoin is a threat to some people especially those that do not know much about it and can be easily scammed. For those who know completely about it, they can easily avert it and go on smoothly with their engagement in bitcoin. For me, l have full knowledge about it, and l will never try dealing with unreliable exchange, and l always make sure that l confirm any bitcoin transaction sent to me properly through blockchain. l also mostly like to deal with trustworthy p2p exchange.

Flash bitcoins is not a new scam, btc investment scammers use it to deceive their victims that they have sent bitcoins to their wallet. This scam only works on newbies who do not understand how the bitcoin network works. This scam tactic cannot be considered as a threat to bitcoin neither can it affect the value of bitcoin.

As far as I know Flash Bitcoin is an application to prank people.  It is an application that send BTC to a network (probably different network) and stays in it for 90 days.  There is no information if the blockchain stated is the Bitcoin blockchain network.  It has an google chrome extension apps but I don't dare to try it since I do not know if the extension has malware injected on it.

With this kind of a prank, people who have ill-intention can use this as tool to scam people .   Newbies can be vulnerable to this kind of scam.

I don't think newbies usually use their hands to go and look for the so-called flash BTC. This is usually a transaction that is being carried out by a scammer to a genuine person who might have fallen victim to some scam scheme, either where the scammer uses the BTC to pay for a product or is wanting to exchange that for cash. If the person is not careful enough, he will be convinced that the transaction is real, and if it's a payment that was meant for goods, they will hand the goods over to the person, and if it's for cash, the seller might release the cash without realising it was a scam.
 
One just needs to be careful in this crypto world in order not to fall into all this form of scam that's increasing every day by day. These scammers are just targeting those who are not really that experienced in crypto and can easily be deceived.

I just want to say that any newbie looking for "flash bitcoin" have 99% probabilities to be scamed or hacked.

You should read this article, and I am quite sure that you will find your answer in this article.

• https://river.com/learn/how-bitcoin-uses-cryptography/

I was not aware of the flash bitcoin, but if they are some fake shit tokens, like I have many of them in my wallet, which is used less and are not tradeable and most of them can lead us to huge scams, like if we will connect our wallet to sell those tokens we might be breached by hackers or scammers. In other words, selling these shit tokens or coins can lead to big losses.

So, the best you can do is, compare the BTC smart contract with the token you are receiving, and check if that's real or fake. You might be scammed even if you will check those token transactions on block explorers because transactions of shit tokens are also recorded on the explorers. So do not rely on them only and verify the nature of the BTC manually.

You need to get some information on how cryptography works and to know that, you should read the above article.

I never heard about fake bitcoins before and especially the ones in circulation, but after digging and reading the post of Cantasy, I got to know about them, and they really exist, but they are not real BTC, they are just fake layouts to show someone that the amount has been sent, just like many people in p2p transaction had tried to do. Like, they create a fake layout, that says, we have sent the payment while we have not received the amount.

It is more like a fake layout, which can not be in circulation, or I am missing something here, if yes, then do let me know.

And how such a thing can be a cause of a market crash, I mean, people do get into FOMO or fear but you should not, because you are a BTT user  So, be calm and the market cannot crash. And you don't even have to rely on the replies of the members to take short or long entries, and by judging your education and understanding level, I would suggest that you should also not take trade in futures. First, learn about Bitcoin and try to control your emotions.

What the heck?? I have no idea what Flash Bitcoins but according to your description they are some altcoin that destroys itself....why would you ask if you should short Bitcoin because of some random altcoin? That's like asking if you should short Gold because someone made fake Gold that disintegrates in 90 days. One has nothing to do with the other. You don't short Apple stock because someone made fake computers and put a picture of an apple on it.

Bitcoin is Bitcoin. Nothing else is Bitcoin. Whatever Flash Bitcoin is it isn't Bitcoin and has nothing to do with Bitcoin.

If this flash Bitcoin is shitcoins this won't affect the Bitcoin but scammers will use it to fool newbies that they send BTC into their wallet and then scammer will provide a link that they sent you BTC but in a different chain.

Or I think if you mean about flash Bitcoin is a transaction that is usually gone after 90 days on the blockchain then you might be talking about double-spend that scammers usually do, if you are a newbie you can fall to this trick if you don't wait for confirmation because a transaction with 0 confirmation can be still reverse the transaction.

I heard the earth is flat, pigs can fly and water isn't wet. Don't believe everything you hear.

Use a trusted Bitcoin wallet and wait for a few confirmations. Your own wallet tells you your Bitcoins are real, trust nobody else.

I have never experienced a flash Bitcoin nor have anyone I know experienced it. Maybe you are referring to double spending by fraudulent people where an unconfirmed transaction can be replaced with a new one. I know that immediately Bitcoin transaction is confirmed by the network nodes, it cannot be reversed. To avoid such problems it is important to wait until the transaction is verified by at least two miners before you release your coin or money. Don't rush to conclude the deal without checking in the Mempool if the transaction has been verified.

I've never heard of this before, Can you provide more information? Where did you hear of these "flash Bitcoins" that disappear in 90 days?

There are various altcoins or tokens that can be loosely referred to as fake Bitcoins. For example, BSV is often considered a fake Bitcoin. However, it's an altcoin with its separate network and market price, unrelated to the actual Bitcoin network. Also, there are so-called "Wrapped Bitcoins," like WBTC, which also aren't real Bitcoins but tokens on other networks that represent the value of real Bitcoins. In most cases, you can exchange them for real Bitcoins. Still, I've never heard of fake Bitcoins that vanish in 90 days.

This is the first time I've heard of this term, but it appears to be faking screenshots from the sender It is a type of scam and will not affect the Bitcoin price and network.
In general, if there is something that will affect the network, it will be noticed here and not on YouTube, where many people are looking for free views and advertisements more than providing useful information.
The Bitcoin network is decentralized and cannot be hacked as happens in social media networks.