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Double Spend on Bitcoin Network

How fake message could spread around because people not educated in Bitcoin

What happened? It started with a message in a big Bitcoin News Blog. On a specific block number should have been recognized, that double coins have been created. This is something essential of Bitcoin and leads people into the fear that the network is in error and funds in danger. Because Bitcoin solved this problem. 

How did it come to this news? 

If a block has been found by two miners at the same time the protocol chooses the miner who built more blocks in former times to get the reward coins.

However in the mapping routine of BTC protocol, there is a little fault which means after a couple of thousands of blocks exactly ordered to the right miner – the notice that the block was ordered to a miner is missed and both miners get rewarded. 

This is only a time delay from some nanoseconds and the nodes will be updated to the right status. There could two scenarios in the meantime.

1) The owner of the miner who got the reward will send the “wrong” BTC. A full node will listen to the block and finally figuring out that there is a coin with a wrong ID. The block will be rejected. The transactions will be written back in the unconfirmed transaction pool (mempool) and the coins with the wrong ID are deleted. So they can’t send anymore. 

2) The coins have been send and validated by Simple Verification Nodes (SVP (P=Points) This kind of node doesn’t contain the full ledger to create a traceback on the Coin history till the beginning of the records. These nodes just download a history which is approx. half of the ledger. So they can’t prevent a double spend from history before that point. As long as enough full nodes there and the SVP must connect to a full node there is no problem. But if there are more SVP and no full node is checking, a double-spend could possibly exist. 

Imagine the owner still take no care of the coins for one year. This means the SVP nodes are updated with a state that does not list this coin because it has created before. Now the owner of the miner sends his coins into a world of SVP nodes. Therefore they will acknowledge the legitimacy of the coins. Another person reaches these Bitcoins. And this is sending them again to the network. Now, a full node checks and kills these coins. You as the sender will have some problems to explain the receiver why he is still not paid. That’s why he is not educated about things like this. 

Remember the network itself has a majority of full nodes means scenario 1 is taking place till today. And normally we do not recognize this because the state of the network updates so fast to the nodes, that the wrong Bitcoins will be deleted on the wallet side of the miner before he can transfer.

There is no doubt Bitcoin will never have a double-spend which creates a problem for the users and education will prevent sleepless nights. 

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