More Examples

“It’s economically unfeasible to attempt to double-spend bitcoin.”

“My friend’s favorite shitcoin was attacked with a double-spend.”

“Bitcoin solves the double-spending problem.”

Definition(s) from the Web

  1. If a malicious user tries to spend their bitcoins to two different recipients at the same time, this is double spending. Bitcoin mining and the block chain are there to create a consensus on the network about which of the two transactions will confirm and be considered valid. Source
  2. Double-spending is the result of successfully spending some money more than once. Bitcoin users protect themselves from double spending fraud by waiting for confirmations when receiving payments on the blockchain, the transactions become more irreversible as the number of confirmations rises. Source
  3. Double-spending problem is the successful use of the same funds twice. Double-spending of Bitcoin is not possible as Bitcoin is protected against a double-spending problem thanks to each transaction which is added to the blockchain being verified, and the majority of funds contained in this transaction cannot have been previously spent. Source
  4. Double-spending is a potential flaw in a digital cash scheme in which the same single digital token can be spent more than once. Unlike physical cash, a digital token consists of a digital file that can be duplicated or falsified. As with counterfeit money, such double-spending leads to inflation by creating a new amount of copied currency that did not previously exist. This devalues the currency relative to other monetary units or goods and diminishes user trust as well as the circulation and retention of the currency. Source

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