Hi, I’m Amanda B Johnson and welcome to DASH: Detailed

If a series of ones and zeros transmitted over the internet is to be considered a foundation for global money, it should probably be exploit free So goes the philosophy of a new anonymous South Korea-based hacking collective called Glass Hunt Glass Hunt burst onto the scene recently with their Youtube video that depicts them double spending an online Bitcoin casino A double spend takes place when a user broadcasts a transaction to someone — say a merchant — waits for them to see the broadcast, and then broadcasts those same inputs but this time with a higher fee in a transaction back to one of their own addresses If this is done in a special way and takes place before the next block is found the user has successfully double spent their funds

The merchant has zero and they have their coins back Watch how Glass Hunt did it to Anonymous Casino: Here’s a good example of a Bitcoin double spend This is purely for educational purposes So, I have zero balance here in Bitcoin on this Anonymous Casino and I’m going to first go to my address that they have given me, and I’m going to click “Deposit” Once I deposit — let me get my deposit address, I just grabbed it right here — I’m gonna head over to Glass Hunt and I’m going to double spend by sending funds to them

First I’m going to copy my address I’m going to quickly send some funds over Click “Send Funds” and then “Confirm” Once that’s confirmed this will pick up that transaction So here is my funds

I’m gonna then click on “Next” and I’m going to send it to here To my address And then it’s going to go ahead and create my transaction Once my transaction is created successfully and actually sent — so it’s been sent There’s my transaction ID

It will appear over here in my balance So I’ll refresh this page and it’ll show my balance There it is I can refresh this page and now all of a sudden I could play some roulette So let’s have some fun

I’m gonna roulette spin on this, and have some fun Here we go there’s my balance I’m gonna pretty much, you know, go essentially it’s gonna bet, I’m gonna spin Let’s see what happens I’m going to skip this

Oh! And it’s red Oh so let me double up New bets and go here, I’m gonna spend two, spin again Oh! I won again Okay great

And then I’m going to do a new bet and I’m going to double up again And spin And skip And oh! It’s black I lost all my money

But well, I didn’t make as much money as I wanted Oh no I’ll go back to Glass Hunt I’ll put an address that I want to send the funds back to This is my own address

I’ll just put that here, and I’ll click “Double Spend,” it’ll generate the transaction, and then all of a sudden now their wallet doesn’t have my bets in it Let’s review what just happened This is my double spend I sent this back to myself And this was the original transaction that I sent to Anonymous Casino

And it — if I click on their wallet, it will show that they have a zero balance So their — that transaction will not appear in the blockchain, but this transaction will And I have my funds right back So good — good to have all the money I spent back And if I go back here, actually if I refresh this page, it will show the really bad balance that I have over here, which will just never be confirmed because it’s like they never got their funds

Now all of the funds will be returned to Anonymous Casino I’m just going to make a deposit into this address and then tell them to keep it So that there was no harm no foul But just wanted to share this for educational purposes Three members of the for-profit collective Lord Pi, Foxtrot Tango and Sir Pringles agreed to grant me an audio-only interview

First I asked what’s with the Bitcoin double spends? Regarding Bitcoin we see that for example double spending as a problem that needs to be overcame for mass adoption to take place And we figured if just anyone, anywhere, could simply perform it and it easy instant fashion, that what will eventually happen is merchants, how deal in Bitcoin, will take more security measures But also the Bitcoin Foundation, which has a history of being, you know, a little slower to to adopt changes just because of how large its become and how much, how many different factions with opposing views there are, we felt that it would definitely create a conversation within the community so that people would really start talking about how to how to overcome that problem So with the increasing ease-of-use and accessibility of Bitcoin double spending tools like on Glass Hunt’s own website, I then asked for an estimate of roughly how many Bitcoins are double spent in any given 24-hour period? I would say a few Bitcoin A few Bitcoin

Which is a few thousand bucks The Glass Hunt collective told me that various developers around the world have reached out to them and asked what they think is a solution for the double spends The team reported no potential protocol level fixes rather seeing additional burdens upon merchants to verify payments as the only feasible option It goes into a thing called “confidence score” You can find confidence scores, for example, on Block Cypher they’re

They’re a great website for identifying the confidence of a transaction Usually if it’s over eighty-five percent to ninety percent confidence, when it’s broadcasted, it’s hard to double spend Right now you just have to kind of go out yourself and check And just because it has a high confidence score or low confidence score doesn’t mean a person is going to double spend but they have the opportunity to, in an easier fashion I then asked Foxtrot Tango, Sir Pringles, and Lord Pi why this problem isn’t talked about more often and why they’re video hasn’t sparked a larger online discussion

People don’t want to necessarily I’m share the fact that they can double spend and so that’s one big part of it Because once it’s up — we’ve seen a few actors on the site — they’ll double spend quite a bit and then, I don’t think it’s something that people really talked about And then the people who advocated Bitcoin, they don’t necessarily want other people to know that there are maybe cracks in the foundation so they kind of just don’t talk about it For any Bitcoin accepting merchants who are concerned about the potential for Bitcoin double spends and/or the costs of further verifying incoming payments, I invite you to visit Dashorg/Downloads and go ahead and download our core wallet

While there you can experiment with the sending and receiving of InstantSend transactions This offers a confirmation in an average of 13 seconds Glass Hunts tools, mission statement, and registration for upcoming hacking courses can all be found at GlassHuntco

That’s it for this week’s DASH: Detailed Subscribe to this channel for more of this information every Wednesday And I’ll see you next week My job, and the job of my colleagues, is to review digital currency wallets for acceptance or rejection into the Apple App Store Don’t even think about checking out the digital currency Dash, digital cash

It’ll put hair on your palms

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