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UserU
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July 10, 2021, 09:39:07 AM
 #21


It's only possible if the receiver accept 0-conf transaction without checking possibility of double spend (e.g. low fees, RBF enabled). Fortunately, some wallet will mention that the transaction/bitcoin isn't confirmed. so such scenario isn't likely.

Thanks for the information, so that only applies if the wallet supports such feature.

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July 10, 2021, 12:35:30 PM
 #22

1. I would like to know if Bitcoin can be recover from scammers. If it can be recovered how can one go about it(process and steps).
No once your seed phrase is stolen and your funds withdrawn there is no possibility of recovering your stolen coin. Always write down your coin and save it in a paper format.
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2. Are their fake Bitcoin, like we do have fake currencies note.
I haven't heard of anything of such fake Bitcoin can't exist since it's encrypted between users so if you have a coin in your wallet then it's spendable and mind you Bitcoin has no paper representation so it can't be counterfeited
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July 10, 2021, 07:25:40 PM
 #23

Supposedly a newbie sees the confirmation and thinks that it's registered but little did he/ she know it could be replaced by another TX that would never be addressed to him/ her.
If the transaction is confirmed then it's almost impossible to replace/reverse it and the more confirmations the transaction has, the more difficult it becomes to replace it. 6 confirmations is safe enough to consider a transaction final.
However, it's possible to replace an unconfirmed transaction especially if it's been flagged as rbf. The wallet you use can't prevent this. The only thing it can do is to hide unconfirmed transactions in the transactions history.

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July 10, 2021, 09:01:10 PM
 #24

2. Are their fake Bitcoin, like we do have fake currencies note.
I haven't heard of anything of such fake Bitcoin can't exist since it's encrypted between users so if you have a coin in your wallet then it's spendable and mind you Bitcoin has no paper representation so it can't be counterfeited.

Well you can consider the numerous forked counterfeit Bitcoin as most have the same circulating/total supply lol. Actually we have fake Bitcoin and they're all the forked out there claiming to be the real Bitcoin which is the reason behind their forking in the first place. Don't forget some Bitcoin address and some of the forks share similar address or exact address (most especially the legacy format addresses) and scammers used this as an advantage to scam victims.

I have had reports of victims receiving BCH (Bitcoin cash or fake Bitcoin) for the price for bitcoin when they transacted peer2peer which is quite possible as most Bitcoin and Bitcoin cash share same address. About the theory of a totally fake Bitcoin like the rumors going around of recent of scammers sending you a fake Bitcoin when you intend transacting peer2peer in my region, that I haven't confirmed but most scenario will be a double spending scams.

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