What happen for people who does not support Segwit2X?

FrueGreads

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Quote from: matuson on November 01, 2017, 06:24:12 AM

What exchanges say they will not support segwit2x it is just talk. They support everything that brings profit. It all depends on the support of this coin users.

I think the problem is not just if they will list the coin on their exchange platform or not. I think it's also how they will name it. We had some wallets like Xapo and bitpay, saying that they will name the B2x as BTC if it gains enough support. If some exchanges did the same thing it would be total chaos for new users. I don't like segwit2x, specially because of the way they are doing things (saying they are the true bitcoin so they don't need replay protection, etc)

Since this is just an attempt to take control over BTC, and they don't really care about anyone else, I think it's very important that these exchanges and some mining pools are already expressing their zero support. I don't think this is just talk, I think this is also a message to wallets like xapo and bitpay, and everyone who supports this takeover attempt.

MMostaza

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I think people are getting used to all these new hard forks evolution from when they are announced till they are launched and spend some time in the market. And looks like is going to became a normal reaction, I read today this article about developers feeling apathetic about the Segwit2x launching, and I think this feeling will be the general position in the following forks:

https://www.coindesk.com/bitcoin-battle-developers-apathetic-segwit2x-fork-approaches/

kenkoy

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A lot international Bitcoin communities are said to be rejecting the 2x segwit. They are expecting that the original Bitcoin will be managing its own after the segwit2x. They thought this will be the same outcome with the last fork happened on august.

illinest

sr. member

Activity: 454

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Quote from: alyssa85 on November 01, 2017, 06:23:33 AM

It depends on whether the old chain is even viable. Unlike bitcoincash, there is no EDA to move the difficulty down quickly, so it might just get stuck where people can't send anything. If that is the case, it will die.

Interestingly, Bitcoin Cash is aiming to hard fork within the next couple weeks to remove the EDA and get back to a predictable 10-minute block time. If you think about their scaling vision (massive block size and.....not sure what else), the EDA didn't make sense. It seemed like a gimmick that exploited peoples' frustration with network congestion just to let Bitmain pocket more block rewards.

Whether or not the legacy chain is viable, it's become clear that it will still have a strong community even if the 2x chain "wins." If it's truly stuck, I'm quite sure that the legacy chain will be forked to change POW or lower difficulty and there will be demand for these coins. It will be ugly, and we might see some Core developers move on to other projects, but in the end, the corporate takeover attempt will fail.

matuson

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I heard that already accept applications to pre-purchase coins segwit2x at a price of about $ 1,000. I do not believe that users will be giving away free coins. Most likely will be offered to choose and to redeem your coins. What exchanges say they will not support segwit2x it is just talk. They support everything that brings profit. It all depends on the support of this coin users.

alyssa85

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Quote from: puremage111 on October 14, 2017, 01:54:29 AM

according to : https://cointelegraph.com/news/bitmex-exchange-joins-segwit2x-opposition-confirms-zero-support

Bitmex stated they will not support Segwit2X even if the chain has the major hashrate.

In this case what would happen with Bitmex? they will be using the old Bitcoin chain?

It depends on whether the old chain is even viable. Unlike bitcoincash, there is no EDA to move the difficulty down quickly, so it might just get stuck where people can't send anything. If that is the case, it will die.

TheUltraElite

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So anyway, I applied as a merit source :)

Quote from: CryptosapienZA on October 14, 2017, 04:17:46 AM

First it is important to note that whether you support Segwit2X or not, you will get the 2x coins. I think two scenarios can happen here:
1) The exchange will keep and their customer 2x coins for themselves. (They are more likely to be sued by customers)

Nothing of that sort will happen. Many exchanges have done so and users are powerless to counter them. People have been specifically told to keep all their bitcoins in their wallets over which they have private key control. Otherwise yo are at the mercy of the site where the coins are stored. So if you did not take necessary steps to cover yourself, how do you expect yourself to be defended?

Quote

2) They will allow customers to recieve their coins but will not trade them in the exchange. (For the sake of the exchange I think this is a more likely scenario)

That would be good at least for some people since they get their share of coins. Though the people will not be satisfied with that again and will start to protest.

farhaan

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Merit: 250

It seems that Bitmex has taken the same stand as kraken had already taken that it would not support Bitcoin cash.But it later got criticized by its users and they even threatened to file a law suit against it.Later,it changed its stand.

But this time,most of the major exchanges seem to support segwit 2x.So,either bitmex would change its stand to support segwit 2x or else,its customers would just withdraw their bitcoins from it and deposit it in other exchanges like Bittrex which supports all hard forked coins.

talkbitcoin

legendary

Activity: 1372

Merit: 1032

All I know is that I know nothing.

i am starting to think all these "support" "don't support" things they keep releasing are just political and in order to gain some publicity. and of course news sites enjoy all the click baits too.

i remember most of exchanges were saying the same bullshit of "we don't support bitcoin cash" but now a lot of them have it listed Cheesy

the thing about exchanges is that they don't give a shit about bitcoin. they only look at the high volume. if it has it, they support it because it gives them more profit.

ZaynDale

full member

Activity: 238

Merit: 100

T H E G O L D E N I C O

Few reasons of an Altcoin to stay alive are:
- having a good dev support, marketing and developments
- have lots of investors
- will give miners a good profit.
Although a lot of Altcoins today are striving for survival but only the lucky ones are on top.
If most investors will drop segwit2x then ot will die and coins will have no value at all.

rindo

hero member

Activity: 938

Merit: 1000

The funniest of all, is that even the director of the Bitcoin foundation is criticizing the hard fork SegWit2x, expected in later November. He his raising doubts, related to the need and the benefits after the fork. Like a lot of developers from the Bitcoin Core defend, that the fork, is just a way of creating a bigger size blocks in the code base of the digital currency.

TheCoinFinder

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Merit: 1001

Quote from: CryptosapienZA on October 14, 2017, 04:17:46 AM

First it is important to note that whether you support Segwit2X or not, you will get the 2x coins. I think two scenarios can happen here:
1) The exchange will keep and their customer 2x coins for themselves. (They are more likely to be sued by customers)

2) They will allow customers to recieve their coins but will not trade them in the exchange. (For the sake of the exchange I think this is a more likely scenario)

I think your point 2 is likely their decision.They will not support Segwit2X exchange through their platform but may allow users to receive their coins to other wallet that supports segwit2x currency.
BTC.com is the another wallet which supports segwits and are later able to separate these coins officially at their website.

arbitrage

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Quote from: CryptosapienZA on October 14, 2017, 04:17:46 AM

First it is important to note that whether you support Segwit2X or not, you will get the 2x coins. I think two scenarios can happen here:
1) The exchange will keep and their customer 2x coins for themselves. (They are more likely to be sued by customers)

2) They will allow customers to recieve their coins but will not trade them in the exchange. (For the sake of the exchange I think this is a more likely scenario)

Let's wait public announcements. So far Bittrex was fair, and everybody who held Bitcoins on their accounts got same amount of BCC and my expectations are that they will do it again. Even shady Yobit did this as well. Better stick for US based exchanges who won't ruin their reputation over this question.

CryptosapienZA

full member

Activity: 378

Merit: 101

First it is important to note that whether you support Segwit2X or not, you will get the 2x coins. I think two scenarios can happen here:
1) The exchange will keep and their customer 2x coins for themselves. (They are more likely to be sued by customers)

2) They will allow customers to recieve their coins but will not trade them in the exchange. (For the sake of the exchange I think this is a more likely scenario)

puremage111

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Activity: 1568

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according to : https://cointelegraph.com/news/bitmex-exchange-joins-segwit2x-opposition-confirms-zero-support

Bitmex stated they will not support Segwit2X even if the chain has the major hashrate.

In this case what would happen with Bitmex? they will be using the old Bitcoin chain?

Topic: What happen for people who does not support Segwit2X? (Read 440 times)