Post
Topic
Board Bitcoin Discussion
Re: Bitcoin price tanking past couple of days was caused by...
by
OcTradism
on 22/01/2021, 13:23:02 UTC
First possibility:
The double spend did not happen indeed. Read the actual news,

https://www.coindesk.com/bitcoin-double-spend-that-never-happened

So, that was a FUD by the media. I don't know if such kind of news has a power to bring down the market to this level. I don't think so!

Second possibility:
A record $3.7 billion worth of Bitcoin options are set to expire on January 29, 2021. Quote from the source:

https://www.businessinsider.co.za/bitcoin-price-options-record-expiry-speculation-derivatives-2021-1
It's a FUD. Double spend on bitcoin network. No as there is no financial returns for attackers if they have and readily to spend expensive cost to do attack.

Why the double spend attack happened this year, not years ago when mining pools under control of Bitman have almost or more than 51% total hashrates on the network. The attack can only be done by very big pools when they combine their hashrates. It is impossible.