Home News Popular Subreddit r/bitcoin Bans Questions About BTC Double Spend Security Breach

Popular Subreddit r/bitcoin Bans Questions About BTC Double Spend Security Breach

TL;DR: After a video showing the ease with which BTC could be double spent among merchants, enthusiasts began to wonder at the claim’s veracity. At least one Bitcoiner sought clarification on popular subreddit r/bitcoin. The questioner suspected rival projects were spreading fear uncertainty and doubt (FUD). Moderators automatically flagged the post and promptly removed it from the discussion.  

r/bitcoin Bans Questions About BTC Double Spend Security Breach

The video shows use of an Electrum Wallet on Android for BTC at a restaurant in Australia. Through a rather simple set up, it appeared to be a critical lapse in security. After setting up two wallets, the replace-by-fee tool was enabled on one, then disabled in another, and the merchant is unaware until its too late: funds return to the sender, merchandise gone.

BTC

Some enthusiasts insisted such an attack is the fault of the merchant’s point-of-sale (PoS) system choice or the merchant’s own lack of vigilance. Others acknowledged such double-spends are entirely possible but solved through this or that code fix. The video’s content was not questioned as to the legitimacy of its demonstration, however.

Confused, an r/bitcoin poster noticed, “I’ve seen a bunch of posts about 400 Australia dumping bitcoin core [(BTC)] because of a security breach? Sounds like some [(Bitcoin Cash)] fud?” Indeed, social media debated the topic hotly, and where better than a more in-depth, bitcoin-centric subreddit to get clarification. Moderators for r/bitcoin thought otherwise.

Not a New Phenomenon

They removed the post immediately. “Your submission has been flagged for removal because it pertains primarily to altcoin discussion and/or promotion,” r/bitcoin moderators charged through a bot. They then encouraged the poster to use another, more general subreddit instead.

BTC

It’s the latest example of accusations against BTC maximalists regarding censorship. r/bitcoin, in particular, has a long history of blocking views that run against less-than-positive news regarding BTC. As message boards like Reddit grew in influence, the importance of information gathering through r/bitcoin was viewed as critical for a time. Enthusiasts became so frustrated with r/bitcoin censorship, they created a lighter-touch, in terms of moderation, subreddit for free discussion, r/btc.

Maximalists this year alone tried to censor the Twitter handle @Bitcoin (it was later transferred under mysterious circumstances) when it began to advocate for peer-to-peer electronic cash over the pivot toward digital gold. More recently, BTC maximalists mass reported the popular account Crypto Deleted for its criticism of BTC influencers.

The Federal Reserve

CONTINUE THE SPICE and check out our piping hot VIDEOS. Our podcast, The CoinSpice Podcast, has amazing guests. Follow CoinSpice on Twitter. Join our Telegram feed to make sure you never miss a post. Drop some BCH at the merch shop — we’ve got some spicy shirts for men and women. Don’t forget to help spread the word about CoinSpice on social media.

DYOR: CoinSpice is your home for just spicy crypto things. We’re not affiliated with any cryptocurrency project or token. Each published piece is intended for information purposes only, not investment advice and not in the hope of impacting speculative markets. There are plenty of trading sites and coin-specific advocacy journals out there, we’re neither. CoinSpice strives for rigorous accuracy in our reporting. Information presented here is contingent usually on a host of factors, and the ecosystem moves fast — prices change, projects change, and at warp speed. Do your own research.

DISCLOSURE: The author holds cryptocurrency as part of his financial portfolio, including BCH.