[2017-11-07] BITCOIN.ORG CO-OWNER: I WILL SUPPORT NEW POW FORK AFTER SEGWIT2X

[Terraformer]

The co-owner of Bitcoin.org and Bitcointalk has said he will support a new Bitcoin proof-of-work (PoW) chain after SegWit2x – even if the Core chain survives.

‘PREPARE TO SUPPORT 3 FORKS’

In a Medium post on Sunday, Cobra explained that the community should unite to defeat the SegWit2x “abomination” but should be open to supporting any chain later this month.

“The market and exchanges should be prepared to support three different forks of Bitcoin this November. The original chain, the 2X chain, and the new Bitcoin chain with a better PoW,” he wrote.

“As soon as the new PoW hard fork binaries are released on Bitcoin.org, I intend to fully commit to supporting that chain and calling it “Bitcoin”, even if hash rate returns to the original chain at a later date.”

SegWit2x is coming under increasing pressure as its fork date nears, with media resource CoinDesk becoming the latest major entity to publicly give the hard fork a vote of no confidence.

In the “unthinkable” event that the 2x chain ‘wins’ majority consensus, the community should “recreate” it via a further hard fork, Cobra argues.

He further added:

"We need to get to work to collectively recreate it. We won’t surrender and we won’t compromise. A new hard fork will be released with a new PoW algorithm and we’ll carry on as normal."

Internal pressure is doing nothing to impact Bitcoin’s record-breaking price performance meanwhile, with prices staying above $7000 after coming down around 2% in a move attributed to Asian market profit-taking.

What do you think about Cobra’s perspective on SegWit2x? Let us know in the comments below!

http://bitcoinist.com/bitcoin-org-co-owner-will-support-new-pow-fork-segwit2x/

[odolvlobo]

I suspect that this is a bluff, and his plan is to freak everyone out with talk of more forks so that people react by rejecting all forks, especially segwit2x.

[TraderTimm]

CAPSLOCK TITLES ARE LAZY AND STUPID

Also makes me not want to read your post, if you care.

[Happy Miner]

I glad this decision. There are plenty of forks already.

[sindikat]

It seems to me that we will never wait in such conditions of stability. You cannot divide a bitcoin. This is not helping to preserve the trust. After constant forks in the road, I have not hear of the debate on the legalization of bitcoin. I am a supporter of modernization only after reaching a consensus. Regular fork will kill bitcoin.

[leonair]

I barely believe now in todays news of crypto media as they are the most controlled of all in the world of cryptocurrencies because they will say and predict what they want and if that things that they said never happens in the future they will just back it up with an another news so it is so hard to believe now with them instead I am just waiting for things to happen naturally to avoid headaches. I know to myself that this Hard Forks has a purpose and it is for the better good of Bitcoin and I am fine with that.

[vit05]

Fork needs to be about decision, not airdrops. People should need to choose between one of them. Forks that act like airdrops just make it difficult for people to choose because everybody loves to receive free money.

[DooMAD]

Fork needs to be about decision, not airdrops. People should need to choose between one of them. Forks that act like airdrops just make it difficult for people to choose because everybody loves to receive free money.

The problem is, there's no other way to retain or preserve your existing balance on the new chain, unless someone can think up a better alternative.  The "airdrop" effect isn't exactly intentional, it's just a natural causality.  All hardforks will behave in such a way because they all involve copying an existing blockchain with known balances for each address.  If you control a balance on the original chain, you'll control the same balance on the forked chain.