To Bitcoin or Not to Bitcoin
During the “scaling debate” before the SegWit2X user-activated soft fork (UASF), Bitcoin businesses were getting their first bitter taste of Bitcoin’s censorship resistance. They wanted change to be easier. They wanted their influence to be effective. They wanted to take shortcuts. Unfortunately for them, Bitcoin was created to resist control.
The controversial SegWit2x fork has been suspended indefinitely, with promoters citing a lack of consensus for the November 16 software upgrade.
SegWit2x Called Off
The suspension was announced by SegWit2x project lead Mike Belshe in an email distributed to the SegWit2x mailing list, but it also bore the signatures of Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith, and Erik Voorhees.
Another signatory to the New York Agreement (NYA) is having second thoughts about SegWit2x.
Daniel Vogel, co-founder and president of Mexican bitcoin exchange Bitso, sent an email to the SegWit2x mailing list on Thursday expressing hesitancy about the upcoming hard fork that is scheduled to activate in approximately two weeks.
The SegWit2x hard fork is drawing closer by the day. Within little over two weeks after the publication of this article, a group of Bitcoin companies and miners plans to double Bitcoin’s block weight limit as per the New York Agreement.
Bitcoin and allocated gold order book exchange Vaultoro has withdrawn support for the New York Agreement (NYA), citing the absence of opt-out replay protection from the proposed SegWit2x hard fork.
Vaultoro Withdraws NYA Support
Vaultoro co-founder Joshua Scigala made the announcement on Twitter, stating that the company had signed the NYA to “help dislodge the stalemate” between the different camps in the scaling debate.
Bitcoin communities in Brazil and Argentina have issued a joint statement opposing the SegWit2x hard fork mandated by the New York Agreement (NYA).
The statement, which is signed by both local bitcoin associations and crypto startups including Bitsendal, Blinktrade, and Coinkite, opens by expressing the belief that NYA signatories entered into the agreement with the noble intention of improving bitcoin’s scalability.
Crypto wallet Blockchain has announced its intention to join with Xapo in following the blockchain with the most accumulated difficulty following the proposed SegWit2x. The wallet service advised its users to “buy some ether” if they intend to make transactions immediately following the fork.
Blockchain Wallet to Follow Chain With Most Difficulty
In mid-November, the Bitcoin blockchain is expected to split into two, competing chains following SegWit2x, a hard fork designed to upgrade the Bitcoin network and enable it to scale more effectively.
The Seoul Bitcoin Meetup has penned an open letter to New York Agreement (NYA) signatories, urging them to rescind support for the controversial SegWit2x hard fork that is scheduled for mid-November.
The Seoul Bitcoin Meetup has nearly 1,700 members, making it South Korea’s largest bitcoin community.
The New York Agreement (NYA) lost another signatory on Tuesday, as Latin American bitcoin exchange SurBTC withdrew support for SegWit2x a month before its scheduled release.
The Chilean startup made the announcement on Tuesday in an official blog post, joining a litany of companies that have begun to withdraw support for SegWit2x as the scheduled November date for the controversial hard fork approaches.