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BitGo announced its policy on the upcoming SegWit2x rigid fork, which is expected to be around November 16th.
In a blog post, BitGo's co-founder, Mike Belshe, pointed out that although the company "would very much like to see a string emerge after the fork," it is ready for release. possibility that Bitcoin splits into two competing blockchains. BigGo intends to provide support for both blockchains, but its main concern is to restore service for "the most viable channel", from which the company will also allocate ticker symbols to both channels.
Significantly, Belshe says that although society takes into account hashrate, the most important determinant of the most viable chain will be the market price of each coin:
"BitGo will support the most viable channel as quickly as possible (based primarily on the market price), and support the minority channel a few weeks thereafter."
Before the announcement, there was a lot of speculation about how BitGo was getting closer to the fork. Belshe is the project manager for SegWit2x and has expressed optimism about the fork's success, but BitGo is not a signatory to the New York Agreement (NYA), and the company has allowed its employees to express their opinions on the fork. The BitGo engineer Jameson Lopp, for example, was one of the most outspoken critics of the proposal.
It is impossible to predict the end result of the fork, but BitGo's position seems more favorable to the blockchain in place than that of SegWit2x signers such as Blockchain, Coinbase and Xapo, all of whom indicated that They would determine which channel won the title "Bitcoin" based mainly on the accumulated difficulty of the network. Since SegWit2x seems to have minor major support, this policy has favored the forked chain.
However, the blockchain in place may have an advantage with regard to the market price. Several stock exchanges have quoted SegWit2x futures, and there have been large price fluctuations between the markets, but chain division tokens have consistently traded at a significant discount to the chips representing the existing chain. At present, B2x / BT2 futures are trading at around 0.286 BTC on HitBTC but only 0.169 BTC on Bitfinex. The value of these chain chips has gradually increased as the fork is enlarged to the horizon, but they remain much less valuable than those of the chain in place.
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