On CNBC’s Squawk Box, Litecoin creator and former Coinbase executive Charlie Lee discussed the future of bitcoin, Litecoin, and the cryptocurrency market in the long-term.
Bitcoin exchange Coinbase has clarified its position on the upcoming SegWit2x hard fork, stating that it will use accumulated network difficulty to determine which blockchain the company will label “Bitcoin” following the fork.
On Monday, David Farmer, Coinbase’s director of communications, published a blog post revealing the rapidly-growing bitcoin exchange’s stance on SegWit2x. In the announcement, he seemed to indicate that Coinbase would continue to call the incumbent blockchain “Bitcoin” and would label the forked blockchain “Bitcoin2x”.
Angel investor Roger Ver has placed a $4 million bet that the coins on the SegWit2x blockchain will ultimately be worth more than coins on the original bitcoin blockchain following the proposed November hard fork.
It’s difficult to remember a time when the bitcoin community was not embroiled in a debate about the appropriate way to scale the bitcoin network.
Litecoin creator Charlie Lee says a trusted source has told him that China will not ban bitcoin mining operations or the bitcoin network. He says the rumors are being propagated by large-scale traders who are attempting to manipulate the bitcoin price.
Lee revealed this information Thursday night on Twitter, stating that he had not traded on the knowledge before making it public.
1/ I have a trusted source that says that there's no truth to China banning mining or network.