[2017-09-19] SegWit2x, NYA Bitcoin Agreement Loses Another Signatory

[Terraformer]

Bitcoin peer-to-peer lending platform Wayniloans has withdrawn its support for the SegWit2x bitcoin scaling proposal and the New York Agreement (NYA).

The company, which was the first peer-to-peer bitcoin lending platform in Latin America, made the announcement in an email distributed to the Bitcoin-segwit2x mailing list. Wayniloans co-founder Juan Salviolo wrote that, when they signed the NYA, they did not realize how contentious the scaling proposal would be. Specifically, they cited concerns that Core developers universally oppose it and that it is unpopular in Latin America.

   

On Wayniloans part or our business is achieved thanks to Bitcoin, and on May we agreed to a sentence to reach consensus for the good of the ecosystem….At the time we didn’t know that existing developers wouldn’t support it, or that most Latin American Bitcoin users, our customers, would view it as an contentious proposal.

Additionally, Wayniloans criticized NYA proponents for not implementing mandatory, opt-out replay protection, which would prevent attackers from broadcasting transactions on both blockchains and stealing coins from unwitting victims.

   

Also, without mandatory replay protection (not opt-in) on SegWit2x, we wouldn’t be able to operate the crypto part of our business without risk of missing funds or legal actions.

SegWit2x developer Jeff Garzik has proposed opt-in replay protection, but this would require users to protect themselves manually, which critics argue is too difficult for casual users who are not technically-proficient.

Wayniloans joins several other companies in withdrawing support for SegWit2x and the NYA. Banking and payment processor Bitwala announced last month it will only follow the SegWit2x blockchain if it receives support from Bitcoin Core, which does not appear likely. Additionally, web content platform Yours decided to launch on the bitcoin cash blockchain, and F2Pool–claiming they only agreed to support the NYA through July–say they stop signaling for SegWit2x the next time they update their pool servers.

https://www.cryptocoinsnews.com/segwit2x-nya-agreement-lose-another-signatory/

[1714802249]

1714802249

[1714802249]

1714802249

[1714802249]

1714802249

[1714802249]

1714802249

[hatshepsut93]

Things are really not looking good for SegWit2x camp - they keep losing their signatories while node count remains almost the same and ridiculously small - even Bitcoin Cash has much more nodes. If miners will decide to fall in with their plan, they are very likely to just waste their power on mining near-useless coin not accepted by anyone. So far it's even unclear if any exchange would want to list is, considering all the problems with replay protection. But I welcome this fork as just like the FUD from China, this is another test for Bitcoin, and after passing it Bitcoin will be stronger, as it will be proven on practice that Bitcoin is truly resilient.

[Slow death]

Things are really not looking good for SegWit2x camp - they keep losing their signatories while node count remains almost the same and ridiculously small - even Bitcoin Cash has much more nodes. If miners will decide to fall in with their plan, they are very likely to just waste their power on mining near-useless coin not accepted by anyone. So far it's even unclear if any exchange would want to list is, considering all the problems with replay protection. But I welcome this fork as just like the FUD from China, this is another test for Bitcoin, and after passing it Bitcoin will be stronger, as it will be proven on practice that Bitcoin is truly resilient.

This fight seems more political than technical

[...]

What does F2pool really want? why do they continue to signal segwit2x or am I seeing wrong?

[NeuroticFish]

This fight seems more political than technical


What does F2pool really want? why do they continue to signal segwit2x or am I seeing wrong?

From what coin.dance reports SegWit2x is still signaled by plenty of pools. Actually it looks like Slush Pool is one of the very few that don't signal it. Support 93.4% now.
xbt.eu shows huge support (NYA) too, over 90%.

So the pools are still in their own world, as usual
All of them, not only f2pool

[buwaytress]

I'm actually surprised this didn't happen sooner. For better or worse, it takes one to go, and others will be more likely to follow. One thing for sure, as people realise and understand more what they signed into, they'll be re-examining their positions. That's the great thing about non-binding agreements.

This is, after all, business. And it doesn't take long to figure out what is best business-wise.

Oh, and won't we have at least two significant Japanese miners coming to join the party? Will they make it before November?

[eckmar]

Well according to coin.dance segwit2x support is 93.3% which is pretty high. In article it said that F2 will withdraw support with next update and they have about 8-9% of block mined (last 7 days) so it would bring support to about 85% which is still pretty high.

[Samarkand]

...

Oh, and won't we have at least two significant Japanese miners coming to join the party? Will they make it before November?

I highly doubt they will make it in time.
They are just starting to develop 7nm and 5nm ASICs and I imagine that this development alone
will take several months. Besides, they need to set up locations where they can run all of the hardware
and negotiate favorable conditions with the municipalities and the local electricity companies.

They will probably enter the mining arena in 2018.

[Karartma1]

November is approaching guys. The SegWit2x development group is supposed to release a working software for the Agreement to take off. Looking at how this has been seen by Core we are going to have yet another split of the bitcoin blockchain. Really curious to know how this is going to unfold.

[Iranus]

Yeah, I'm sure that SegWit2x supporters are quaking in their boots that "Wayniloans" has dropped out.  /s

The only major party that seems to have dropped out is F2Pool, but even they were still supporting NYA in their blocks last time I checked, so it's questionable whether they actually dropped out.

It's unlikely to cause a domino effect unless a really major group decides to drop out.