Flash Bitcoins r not a threat?

[BitcoinPanther]

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.

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[SatoPrincess]

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

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.

[Honyek]

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.

[Ruttoshi]

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.

[stompix]

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.

[Casdinyard]

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.

[Publictalk792]

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.

[noorman0]

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.

[adultcrypto]

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

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.

[AmoreJaz]

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.

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.