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Topic: Is double spending a threat to bitcoin adoption growth? - page 2. (Read 295 times)

legendary
Activity: 2268
Merit: 18748
So far, the RBF feature shared by several bitcoin wallet, both bitcoin core and electrum as well as many other wallet allows senders to double-spending transaction.
Double spending unconfirmed transactions has always been possible, long before RBF was enabled, and once a transaction has a single confirmation its RBF status is largely irrelevant. The only way RBF enables fraud is if you find a merchant who understands very little about bitcoin but is also somehow running their own payment processor (and not using a hosted third party service) who then accepts zero confirmation transactions which are opted in to RBF.

do you think this double spending can prevent bitcoin from being used by many as a secure mean of payment so that adoption rates slow down?
No. You either don't accept transactions without confirmations regardless of its RBF status, or you state that RBF must be disabled to allow zero confirmation transactions (up to a certain value you are willing to accept). If someone pays with RBF, then you require at least 1 confirmation.
legendary
Activity: 2380
Merit: 5213
Technically, UTXOs can be double-spent even if the transaction hasn't been flagged as RBF. So, even if RBF feature didn't exist, people would still have to wait for the transactions to be confirmed.
(Sometimes, it's needed to wait for more than 1 confirmation)

So now that bitcoin has been legalized in several countries as legal tender,
Is there any country other than Elsalvador that has accepted bitcoin as a legal tender?
legendary
Activity: 3500
Merit: 6320
Crypto Swap Exchange
No,
1) Mostly because it's just about impossible to be done. Not saying it can't be done, just that it is just about impossible.
2) Even if it can be done, if you are accepting BTC or any crypto for any large item you really should wait for more then 1 bock before handing over the merch.
Once you are 3 blocks in the odds of a double spend happening are zero*.

*Or close enough to zero not to matter.
**We are talking about BTC, the real BTC. Not BSV, BCH, or any other crypto that claims to be BTC.

If you are talking about one of those, you are on your own when it comes to double spends.

=Dave
legendary
Activity: 1974
Merit: 1150
Most of you have probably heard the term double spending quite often and even discussed it quite often, so maybe I won't explain in detail anymore or you can read more here. So far, the RBF feature shared by several bitcoin wallet, both bitcoin core and electrum as well as many other wallet allows senders to double-spending transaction. This can trigger fraud if the recipient of the transaction does not have sufficient understanding of how to prevent it.

So now that bitcoin has been legalized in several countries as legal tender, do you think this double spending can prevent bitcoin from being used by many as a secure mean of payment so that adoption rates slow down?

I'd like to hear some of your thoughts on this.

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