Skip to content

Charlie Lee of Litecoin: GBMiners has stopped reporting for SegWit2x Bitcoin Hard Fork

Get trading recommendations and read reviews on for only $ 39 a month

On Oct. 27, the creator of Litecoin and former Coinbase executive Charlie Lee , revealed that GBMiners, a pool operator, has stopped reporting that the SegWit2x rigid fork is expected to be in mid-November.

Lee said:

The hash support for SegWit2x is in decline

Earlier this month, F2Pool, another leading mining pool operator with 14% global bitcoin hashrate, stopped reporting the SegWit2x rigid range. According to the agreement reached with NYW SegWit2x at the 2017 Consensus event, F2Pool signed the proposal with other miners accounting for 83.28% of the global bitcoin hash power.

With the removal of F2Pool and GBMiners support, the hash support for the SegWit2x rigid fork in November increased from 83.28% to about 66%. More so, as stated by Luke Parker of BraveNewCoin, many of the individual miners have started to move from SegWit2x supporting the mining pools to Slush Pool, which allows miners to express their support for SegWit2x or blockchain Bitcoin of origin.

"In addition, more than 3,000 miners left the other basins to join the Slush Pool last week, which is the only major reserve that allows the miners to decide for themselves which fork they would like to support. movement allowed Slush Pool to become the 5th largest pool with 8.5% of total Bitcoin hashrate – and only 6% of its miners report Segwit2x, with 75% signaling for the inherited chain, "Parker writes.

See also  Split raises $ 17 million for its product testing platform

The hash rate of F2Pool increases from 9 to 14 percent

Less than a week after removing their support for the SegWit2x rigid fork, the hash power of F2Pool has increased exponentially, from 9% to 14%.

Prior to the withdrawal of F2Pool and GBMiners from the SegWit2x agreement, bitcoin communities in major regions and bitcoin markets such as Japan, South Korea, and Hong Kong have publicly opposed the fork SegWit2x. Yesterday, October 26, CCN reported that the Hong Kong bitcoin community had strongly rejected the SegWit2x rigid range, given the lack of support from the community and the industry.

"SegWit2x does not include strong protection against replay of transactions, nor a broad consensus across the community.Because of the combination of a lack of consensus within the community and of a lack of protection against replay, we consider SegWit2x as a reckless enterprise that will disrupt the ecosystem.We are therefore strongly opposed to SegWit2x.This remains true even though the SegWit2x channel has the majority hashrate or a higher price, "the open letter of the Hong Kong bitcoin community lire .

At this stage of development, it is likely that the SegWit2x rigid fork will continue and will be completed on November 16. But, given the lack of support from the bitcoin community, the mining industry, and the market, the likelihood that the SegWit2x blockchain is changing in the majority range is slim. Therefore, similar to Bitcoin Cash hard forks and Bitcoin Gold, the SegWit2x rigid fork will simply lead to the emergence of another fork of bitcoin, while the original bitcoin block chain or inherited chain remains the major chain , or "bitcoin".

See also  DAO PlayMarket: App Store opens a crypto investment in independent Android application developers

Image from Shutterstock to photo