Flash Bitcoins r not a threat?

[accesstk]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

Should I Short BTC on the long run?

Any information is appreciated.

Thanks

[Justbillywitt]

Flash bitcoin is a threat to newbies, and it’s can’t be seen less than that, but one thing is if you look careful enough you should be able to detect the flash bitcoin transaction and notice that it’s a scam and not a real bitcoin transaction.

Don’t use because of flash bitcoin and it’s scam and deprive your self from buying and holding bitcoin, always buy your bitcoin from direct source using real address and make sure you confirm the transaction on blockchains explorer’s before you pay the person selling bitcoin to you, better still use P2P platform like Bsq and others which have been their for years and you can be a little assured that you can’t be scammed with the fake bitcoin.

Don’t be like me who regretted not buying and holding bitcoin when I have the time to, so don’t use what scammers are doing and stop your self from buying bitcoin you might leave to regret it, which will take you a long time to move on, but I have and have realize my mistake so I won’t allow anyone to fall into such mistake again.

[Cantsay]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

I just did a quick search on “flash bitcoin” and I couldn’t get anything useful from the results and when I checked YouTube I saw that it was something that I have heard about in the past.

Flash bitcoin is mostly used by scammers to pretend as if they have truly completed a transaction so as to convince their victims into sending them money and I believe that the set of people that will mostly be affected by it are those that don’t know how to confirm their transactions on the blockchain rather they just rely on screenshots from the sender (which I’m sure only few people do).

I don’t see it affecting the price/market of bitcoin, they have been cases where counterfeit fiats were being used to purchased things by scammers and it’s still being done. So the fact that someone was lazy enough not to check his/her transaction on the blockchain before proceeding with a deal does not mean that the whole market system will crumble.  And I do  hope the “flash bitcoin” I saw on YouTube is the same one you’re talking about because that’s what my post is for.

I totally agree with you.

Agree with what?

[Kemarit]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

Should I Short BTC on the long run?

Any information is appreciated.

Thanks

There's no such thing as a chain of disappearing transactions in BTC. And it you heard something about it, most likely it's a scam.

Although there is a good discussion about a Fake walle.dat can trick bitcoin core client?.

So to answer the question is it a threat? No.

The best advise is that continue to accumulate we are getting to the block halving, and next year could be the start of a massive bull run. Better be ready.

[accesstk]

ok thank you.

[SquirrelJulietGarden]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Bitcoin is Bitcoin and there is no altcoin can become Bitcoin.

I never heard about flash bitcoins but you know there are many altcoins that use Bitcoin open source code and make their altcoins, name them as Bitcoin forks. Two most famous Bitcoin 'forks' are Bitcoin Cash and Bitcoin SV. They are all failed altcoins.

How many Bitcoin forks are there?

There are many tokens, Wrapped Bitcoin tokens and they are not Bitcoin. They are even worse than Bitcoin (Proof of Work) forks because Wrapped Bitcoin tokens are mintable and their token pegs can be lost (de-pegged).

[JeromeTash]

Looks like you need to learn more about what the bitcoin blockchain is.

If you are interested in Bitcoin, I suggest you read the whitepaper.
And also https://learnmeabitcoin.com/

Bitcoins aren't just created out of a thin air and also those other tokens and shitcoins mimicking Bitcoin can never be BTCitcoin and they are not a threat to Bitcoin but rather a threat to people who are not vigilant enough to distinguish between Bitcoin network and other fake chains.

[Aanuoluwatofunmi]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

Should I Short BTC on the long run?

There's nothing like flash bitcoin, they may engage in making a fake transaction by showing a newbie that they have sent it and it went through and even showing them previous transaction id, but a newbie may not understand how to verify that through the use of block explorer or on the mempool, some also use the trick in double spending to deceive newbies as well, all i can see is that this kind of attack can only be done to beginners if at all it exists, because bitcoin transactions are irreversible, but in this case, they wouldn't send it, but yet claim they have sent it to newbies in other to scam them.

[pooya87]

Now if these do exist, crypto market will crash!
Anyone see this as a threat?
Everyone denying?
Should I Short BTC on the long run?

Any relations with the Joeyp account because your behavior is just as odd. Coming up with something very arbitrary that obviously has no effects on bitcoin (or is not even related) then trying to tie it with some imaginary "crash" that warrants shorting bitcoin!

I heard flash bitcoins (Fake bitcoins) are circulating.

Copycat coins aka shitcoins have existed for ever and they are not affecting bitcoin price in any way. They are just garbage people like to bet on when they want to lose money!

[gunhell16]

As far as I know, it's a prank tool to trick their victims into pretending they've sent Bitcoin, but that's not true. In short, they are just fooling people. So poor those who will believe in this style of scammer.

But this has been going on for a long time; we shouldn't be wasting time on such matters, to be honest. Just focus on more important things, not these silly things that people think of to cheat people; I'm not sure if anyone is still being cheated by them. I last read this on Twitter last year.

[hugeblack]

Flash bitcoin is mostly used by scammers to pretend as if they have truly completed a transaction so as to convince their victims into sending them money and I believe that the set of people that will mostly be affected by it are those that don’t know how to confirm their transactions on the blockchain rather they just rely on screenshots from the sender (which I’m sure only few people do).
Agree with what?

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.

[decodx]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.
<...>

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.

[Fiatless]

Any information is appreciated.

Thanks

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.

[Knight Hider]

I heard flash bitcoins (Fake bitcoins) are circulating.

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.

[BitMaxz]

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.

[thecodebear]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

Should I Short BTC on the long run?

Any information is appreciated.

Thanks

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.

[Faisal2202]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

Should I Short BTC on the long run?

Any information is appreciated.

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.

[GbitG]

I heard flash bitcoins (Fake bitcoins) are circulating.
They disappear after 90 days.

Now, if these do exist, crypto market will crash!

Anyone see this as a threat?
Everyone denying?

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.

[albert0bsd]

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

[Nwada001]

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

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.