A Major Bitcoin FUD Surfaces on Reddit, Claiming “BTC Bug Has Been Discovered”

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Bitcoin
A Major Bitcoin FUD Surfaces on Reddit, Claiming “BTC Bug Has Been Discovered”

A BTC FUD has made rounds on Reddit today, claiming that Satoshi Nakamoto messed up with the coin’s block height and generated a timeline that will not be enough. It claims that the max height of BTC blocks is 81.659 years, which is inaccurate.

A BTC FUD Attracts Attention of Redditors Globally

Fear, Uncertainty, and Doubt (FUD) is a tactic used by competition or haters in sales, marketing, politics, polling, public relations, and cults. It is common in cryptocurrency since many people do not fully understand it. Today, a major BTC FUD has stirred Reddit, one of the major social media platforms. The FUD featuring shady calculations from one Jared Pierce explained that a major Y2K style bug had been discovered. It detailed that Satoshi Nakamoto failed to plan for more digits in the block height of his invention. It featured ‘technical evidence’ of the claim explaining that Satoshi’s max block height is a 32-bit unsigned integer. Therefore, according to the FUD, it translates that the max height is 2^32-1 hence not enough. It was answered as 81.689 years, concluding that it was not enough. However, the whole calculation and theory are just a FUD. The correct answer to the math is 81,659 years confirming the original claim as fake and misleading.

Reactions Following the BTC FUD

The FUD attracted the attention of many Redditors resulting in mixed reactions. Some were quick to counter the claim and explained that the correct expectancy period for BTC to be updated is 81659 years, not 81.6 years. Even though people were quick to unearth the FUD, some expressed worries over the available time for BTC to be updated. Some claimed that the timeline was small for the expected influence of the coin.

Major BTC FUDs And Their Counter Answers

It is not the first significant BTC FUD. Several of them have been going on for some time now—one of the most significant claims that the coin will face eventual prohibition globally. The ‘sense’ behind this claim is that BTC is money, but governments do not want to lose their monetary power, resulting in banning it. This claim is weak since prohibition does not work well in modern civilization, as shown by drug trafficking. The coin is also gaining traction at an amazing rate, with multiple major organizations offering job opportunities for its use cases. This fact makes the above claim pointless. BTC skeptics also believe that competition will phase it out. However, that may not be the case since the coin is more popular and safer than most of its competition. It is also more regulatory compliant, making it more attractive to all investors. Even after its years of existence, it is still the most dominant asset in the digital coin market. Recently, another FUD resurfaced with Mark Webber and fellow researchers at the University of Sussex, claiming that quantum computers can crack BTC. However, their claim did not even provide a straightforward time expectation of the fall of BTC. To find proof of these and other FUDs, follow technical data sites since they are the first to find flaws in such innovations rather than unreliable sources.
Wayne Jones

Wayne is an all-rounded cryptocurrency writer who has written for several publications in the fintech industry. Having graduated from the University of Essex Colchester, he developed a passion for blockchain technology and has been curious about how the blockchain can modify the traditional financial industry.