The Bitcoin fell as low as 11% on Thursday. While we are still searching for a solid answer for the future of Bitcoin, even a small news be it a fake new can result in a price drop for Bitcoin.
Such incident took place on Thursday when the twitter handle of BitMEX Research tweeted that "it appears as if a small double spend of around 0.00062063 BTC ($21) was detected."
BitMEX later said it appeared that the double spend was actually an RBF transaction, which is when an unconfirmed bitcoin transaction is replaced with a new transfer paying a higher fee. But BitMEX's Fork Monitor said that "no (RBF) fee bumps have been detected."
BitMEX said in another tweet: "A transaction in the losing chain sent 0.00062063 BTC to the address 1D6aebVY5DbS1v7rNTnX2xeYcfWM3os1va, and a transaction in the winning chain which spent the same inputs only sent 0.00014499 BTC to this address."
But actually the double spend never happened.
The CTO of Bitfinex Paolo Ardoino said in an e-mail to Insider, "In fact, what happened is that two blocks were mined simultaneously. As a consequence, there was a chain reorganization, which did not result in double-spending."
The other new was that the President elect nominee for treasure secretary suggested lawmakers to "curtail" the use of Bitcoin because of its use in illegal activities.
Thanks for reading. Stay tuned for more updates.
