I know you said you wouldn't halt withdraws before, but if you plan to distribute 2x, how will you be able to stop people from replaying withdraws right after the fork and taking 2x coins?
I am pretty sure what they will end up doing is exactly what every other service out there will do.
They will basically split the coins themselves first to prevent that from happening.
Basically a few hours after the fork, they will send all their cold/hot storage funds into another wallet that they control private keys to, and they will allow withdraws from that new wallet.
So what happens if someone withdraws in those few hours? They get BCH coins. Also, why do you say "into another wallet that they control the private keys to", as if these services are trusting some sort of API or something with their hundreds of thousands of dollars.
Hi,
honestly we don't have a specific plan how to handle 2x fork, but we are ready for any scenario. Basically here's what we'll be doing:
If Segwit2x does not implement replay protection:
1. Before the fork and some time after the fork all withdrawals and deposits will be suspended.
2. Depending on the situation this could take long and we'll have to wait to see which chain becomes the "real" Bitcoin.
3. If we success in splitting the coins (e.g. using timelock) we'll distribute "minority coin" to our users.
If Segwit2x implements replay protection:
1. We do more or less what we did with Bitcoin Cash fork - we take snapshot of funds try to distribute them to our users.
2. Whatever will be called "Bitcoin" after the fork, we'll stick to it.
Anyway, the issue is that 2x for is not intendet to create another flavor of Bitcoin (another coin), but rather to replace Bitcoin itself. Right now we are still not sure how much hashpower it will get. Declarations indicate more than 80% hashpower now, so it's a lot. Can 2x fork become THE Bitcoin? Yes, it's possible.
We'll be following the situation closely and keep your funds safe.
Cheers,
Ethan
