Skip to content

The Bitcoin community of Hong Kong firmly rejects SegWit2x

--Advertisements --

Get trading recommendations and read the analysis on Hacked.com for only $ 39 a month.

The Hong Kong bitcoin community, which includes individuals, meetings, events and organizations, has strongly rejected the SegWit2x rigid fork that is expected to take place on November 16 later this year. year.

Already, apart from four companies, most of the big bitcoin service providers in Hong Kong such as Bitfinex, BitMEX, Bitspark, Gatecoin, OKCoin, and Tidebit have clarified bitcoin will remain as "BTC" after the fork, and SegWit2x will be considered as "B2X".

Bitcoin Community of Hong Kong: Lack of Community Support

At this stage of development, the Hong Kong bitcoin community is particularly concerned about the lack of community support for the SegWit2x rigid fork. While many miners and companies have signed the NYA agreement earlier this year, it is clear from the Bitcoin Cash fork in August that if users and investors stay on the original bitcoin blockchain, the power hash can not decide the majority chain

Moreover, the Hong Kong bitcoin community has revealed that the vast majority of users, investors and businesses in the region are strongly opposed to SegWit2x. The statement of the Hong Kong bitcoin community was as follows:

-- Advertisements --

"In our personal conversations during meetings and events as well as in a formal survey conducted in mid-October, we found that the vast majority of the Hong Bitcoin community Kong does not support the strict Segwit2X range While many have expressed clear opposition to Segwit2X, the lack of enthusiastic support for this fork among the community is striking. "

See also  LifeDoor automatically closes the doors of your home to protect against fire

Importance of the opposition of the Bitcoin community of Hong Kong against SegWit2x

The original SegWit2x agreement was established in Hong Kong last year. Similar to the NYA agreement, miners, companies and some developers have agreed to activate SegWit and increase the size of the bitcoin block to 2MB. Eventually, the plan did not materialize and collapsed due to resistance from the bitcoin community.

It is crucial that the Hong Kong bitcoin community strongly opposed the rigid SegWit2x range as the basis of the NYA agreement was the Hong Kong Roundtable held last year. In addition, given that the world's largest cryptocurrency exchange in Bitfinex is also based in Hong Kong, the Hong Kong bitcoin community represents significant voices within the global bitcoin industry.

The statement of the Hong Kong bitcoin community reads as follows:

"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. "

-- Advertisements --

In recent weeks, it became clear that the majority of Bitcoin community members opposed the SegWit2x fork in November. If the range is continued, it is likely that the original bitcoin block chain or inherited chain will remain the majority chain.

Advertisements