Is S2X already on life support?

[exstasie]

I kind of wonder how much depends on the ticker symbol. Bitcoin = BTC right? Not BCC or BCH or BTC1 or whatever else.

Bitcoin is BTC. Who decides this? Top exchanges. That is a lot of power resting there.

The problem for exchanges -- and particularly regulated/licensed exchanges like Coinbase and Bitflyer -- is that they have legal concerns with regard to custody. If they start giving people this new altcoin in place of bitcoins held in custody, for example, they would probably face a lot of lawsuits.

I don't think they can flex their muscles and simply decide which coin is "Bitcoin." That's up to the market. The safest thing for exchanges to do IMO is let the incumbent retain the title/ticker until the market has clearly decided otherwise.

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[Samarkand]

I kind of wonder how much depends on the ticker symbol. Bitcoin = BTC right? Not BCC or BCH or BTC1 or whatever else.

Bitcoin is BTC. Who decides this? Top exchanges. That is a lot of power resting there.

Exchanges have a lot of power. Most heavy miners send their coins straight to the exchanges so they ultimately end up being puppets to the exchanges...

I´m not sure where you got this information.

Most miners sell OTC and not on exchanges. OTC has obvious advantages if you sell large amounts - as the miners do - because
you avoid slippage and don´t scare the market by big sells. Besides, many miners hold certain parts of their mining rewards for
the long term instead of sending them "straight to the exchanges", because they can increase their profit substantially if the BTC price rises.

[Paashaas]

roger ver has gone off the deep end and is taking the opposite approach to bitfinex, saying that segwit2x will be the default bitcoin blockchain and BTC ticker.

hah. this was priceless.
if it is really true i would love a reference. because Roger was calling bitcoin cash "default bitcoin" now it is SegWit2x! LOL

Roger and Jeff are sneaky snakes. What about those poor people buying his Bcash shit coin.

People can lose there money with 2x and they're promoting it...scumbags.

https://twitter.com/jgarzik/status/916438756382535691
https://github.com/bitcoin-dot-org/bitcoin.org/issues/1835#issuecomment-334869248

[BTCLovingDude]

I kind of wonder how much depends on the ticker symbol. Bitcoin = BTC right? Not BCC or BCH or BTC1 or whatever else.

Bitcoin is BTC. Who decides this? Top exchanges. That is a lot of power resting there.

Exchanges have a lot of power. Most heavy miners send their coins straight to the exchanges so they ultimately end up being puppets to the exchanges. If an exchange decides to go one way then they alter their miners to ensure that they are making the most profit at the end of the day.
In a way it's kind of ironic/hypercritical. Bitcoin is meant to be decentralised but the lack of trust and power given to small exchanges means that the bigger exchanges are the ones calling the shots at the end of the day 

i agree with parts of what you said not all of it. for instance you are correct that exchanges have a lot of power but this power has been diminishing as the total trade volume spreads among multiple exchanges instead of all of it being in one place.

and as other comment said above me, miners don't send their coins to exchanges. they do it off the market if they are big mining farms and smaller miners get paid small amounts that doesn't matter where they sell.

and finally bitcoin is decentralized not bitcoin price. it is a free market, the price will eventually be set based on supply and demand even if the short term is looking weird.

[acquafredda]

roger ver has gone off the deep end and is taking the opposite approach to bitfinex, saying that segwit2x will be the default bitcoin blockchain and BTC ticker.

hah. this was priceless.
if it is really true i would love a reference. because Roger was calling bitcoin cash "default bitcoin" now it is SegWit2x! LOL

Roger and Jeff are sneaky snakes. What about those poor people buying his Bcash shit coin.

People can lose there money with 2x and they're promoting it...scumbags.

https://twitter.com/jgarzik/status/916438756382535691
https://github.com/bitcoin-dot-org/bitcoin.org/issues/1835#issuecomment-334869248

Thanks for referencing it! Unbelievable what these guys are doing to bitcoin. Next November is possibly the worst of times for Bitcoin history and I hope that is going to be the endgame for those people. I've seen many things since I first heard of Bitcoin in 2010 but this is too much

[Torque]

I think the bigger question is, when are we going to see an end to attempts to support all these constant bogus forks?

I know it's putting unneeded stress on their businesses. Perhaps if companies like Coinbase and the exchanges get tired of having to deal with all the forking and providing means to the coins for their customers, they will finally put an end to all this nonsense by stating "Any and all future forks that are contentiously launched, we are flat out just not going to support. Period."

I'm guessing it'll only take another round of this shit or maybe two before they finally throw in the towel.

Haha, as I predicted it is already starting. 

https://novaexchange.com/news/

"We are NOT supporting any upcoming or future bitcoin forks. We are only running Bitcoin Core wallet and no other Bitcoin forks will be supported in the future"

[centralbanksequalsbombs]

I think the bigger question is, when are we going to see an end to attempts to support all these constant bogus forks?

I know it's putting unneeded stress on their businesses. Perhaps if companies like Coinbase and the exchanges get tired of having to deal with all the forking and providing means to the coins for their customers, they will finally put an end to all this nonsense by stating "Any and all future forks that are contentiously launched, we are flat out just not going to support. Period."

I'm guessing it'll only take another round of this shit or maybe two before they finally throw in the towel.

There wont be an end until the central-bank/VC-funded DCG-portfolio of companies meet their demise. All the evil anti-bitcoin propoganda/agendas stem from their businesses that seem great at face value and first-glance, however underneath lays an operation to undermine bitcoin. (PSA: do not support Coinbase, Kraken, Coindesk, Bitpay).

[FiendCoin]

Unless 2X adds some kind of EDA like bcash or the price on the futures rise significantly or the future markets are wrong, 2X is DOA.

[fabiorem]

dumped like BCH

You cant dump it without replay protection, that is a fact.

[exstasie]

dumped like BCH

You cant dump it without replay protection, that is a fact.

No it's not. Exchanges and wallet/service providers are actually tasked with implementing their own native replay protection. One method is to use coinbase tainting to make transactions invalid on the original chain. Another method involves using locktime and RBF.

Poloniex was one of the first to show that this was possible. When the ETH/ETC split occurred, there was no replay protection. They began splitting ETH deposits into ETH/ETC after the fork and crediting it to user accounts. It's totally possible as long as exchanges are methodical about it.

Some users will definitely lose money trying to split their coins, though.