“International Bitcoin Communities” Rejecting SegWit2x

[bestt30]

The hard fork part of the New York Agreement is scheduled to take place within about two weeks. This incompatible protocol rule change is set to increase Bitcoin’s block weight limit, to allow for more transactions on the network — if everyone adopts the change. Otherwise, it will create a new blockchain and currency that may or may not be considered to be “Bitcoin.”

The list of signatories of this agreement includes several of the largest Bitcoin startups and mining pools that, together, claim to represent a majority of users and hash power. Yet, it is far from clear that this 2x part of SegWit2x proposal really has much support outside of these signatories. Most of Bitcoin’s development community, a significant number of other companies, some mining pools, user polls as well as futures markets suggest otherwise.

And now, a growing list of international Bitcoin communities is putting out public statements against the SegWit2x hard fork as well.

An overview…

Seoul Bitcoin Meetup

On October 12, 2017, the Seoul Bitcoin Meetup — the largest and longest-running Bitcoin meetup in South Korea with over 1700 members — was the first user community to put out a statement on SegWit2x. More precisely, in their own words, the group voiced its “staunch opposition to this November’s proposed hardfork.”

In its statement, the Seoul Bitcoin Meetup places emphasis on the manner in which the agreement was made. Typically, changes to the Bitcoin protocol go through the Bitcoin Improvement Proposal (BIP) process where it is peer reviewed by developers across the ecosystem, whereas SegWit2x went through the New York Agreement, which was forged at an invite-only meeting among about a dozen company executives.

The Seoul Meetup states:

If a select group of CEOs and investors, no matter how benevolent their intentions, can unilaterally make decisions about the consensus rules without public comment and force these changes upon the network regardless of overall consensus, then Bitcoin will have lost the properties that make it valuable in the first place.
Additionally, the Seoul Bitcoin Meetup argues that the hard fork is needlessly risky without offering sufficient benefits to warrant the risk. It also takes issue with the controversial decision of SegWit2x developers not to implement strong replay protection.

SOURCE CONTINUE ARTICLE
http://www.coinn.club/bitcoin-altcoin-signals/international-bitcoin-communities-rejecting-segwit2x/

[1714981472]

1714981472

[prehisto]

I think that its sad if the community cant make update on our beloved BTC, since it needs it, badly otherwise it will just will not become nothing more than asset.
I believe that change is needed in order to go forward an add value to BTC.

[equator]

Mostly i think this is good decision taken by them to stop this hardfork because how many hardfork needed as the last one was failure even then trying to implement the 3rd one.

[rjbtc2017]

The hardfork is even objected and rejected by some of the developers and some of the bitcointalk forum members and a lot of bitcoin users online which they have a hashtag on social media to object the hardfork, but the top management want to still continue the hard fork. The hardfork is forced and not accepted by majority, they should atleast consider the amount of people (including the devs) objecting it.

[exstasie]

Mostly i think this is good decision taken by them to stop this hardfork

What makes you think the hard fork will be stopped? BTC1's lead developer, Jeff Garzik, says it's full steam ahead. The vast majority of miners (~85%) are still signalling in support of the New York Agreement. And more to the point, F2pool stopped signalling, yet did not increase its share of the global hash rate, suggesting that miners are not reneging. Coinbase, Blockchain and others also recently reaffirmed their commitment to support the most-work chain, whichever chain that might be.

I think it's unlikely at this point that the hard fork will be "stopped." The question is, how much network disruption and value loss will it cause? And how many people will lose money trying to sell their B2X coins?

[HeRetiK]

I think that its sad if the community cant make update on our beloved BTC, since it needs it, badly otherwise it will just will not become nothing more than asset.
I believe that change is needed in order to go forward an add value to BTC.

Change is needed and updates will come. But SegWit2x would only be a bandaid for what could be solved with more effective scaling solutions further down the road. Patience, my friend.

[...]

The vast majority of miners (~85%) are still signalling in support of the New York Agreement.

Signalling means nothing, money talks. In the end miners will stay on the most profitable chain, whichever that may be.

[...]

Coinbase, Blockchain and others also recently reaffirmed their commitment to support the most-work chain, whichever chain that might be.

As they should. However I'm positive that ultimately the most-worked-on chain will be the one with the largest community support -- whichever that one may be.

[Restmand]

The hard fork part of the New York Agreement is scheduled to take place within about two weeks. This incompatible protocol rule change is set to increase Bitcoin’s block weight limit, to allow for more transactions on the network — if everyone adopts the change. Otherwise, it will create a new blockchain and currency that may or may not be considered to be “Bitcoin.”

The list of signatories of this agreement includes several of the largest Bitcoin startups and mining pools that, together, claim to represent a majority of users and hash power. Yet, it is far from clear that this 2x part of SegWit2x proposal really has much support outside of these signatories. Most of Bitcoin’s development community, a significant number of other companies, some mining pools, user polls as well as futures markets suggest otherwise.

And now, a growing list of international Bitcoin communities is putting out public statements against the SegWit2x hard fork as well.

An overview…

Seoul Bitcoin Meetup

On October 12, 2017, the Seoul Bitcoin Meetup — the largest and longest-running Bitcoin meetup in South Korea with over 1700 members — was the first user community to put out a statement on SegWit2x. More precisely, in their own words, the group voiced its “staunch opposition to this November’s proposed hardfork.”

In its statement, the Seoul Bitcoin Meetup places emphasis on the manner in which the agreement was made. Typically, changes to the Bitcoin protocol go through the Bitcoin Improvement Proposal (BIP) process where it is peer reviewed by developers across the ecosystem, whereas SegWit2x went through the New York Agreement, which was forged at an invite-only meeting among about a dozen company executives.

The Seoul Meetup states:

If a select group of CEOs and investors, no matter how benevolent their intentions, can unilaterally make decisions about the consensus rules without public comment and force these changes upon the network regardless of overall consensus, then Bitcoin will have lost the properties that make it valuable in the first place.
Additionally, the Seoul Bitcoin Meetup argues that the hard fork is needlessly risky without offering sufficient benefits to warrant the risk. It also takes issue with the controversial decision of SegWit2x developers not to implement strong replay protection.

SOURCE CONTINUE ARTICLE
http://www.coinn.club/bitcoin-altcoin-signals/international-bitcoin-communities-rejecting-segwit2x/

It is sad because the bitcoin will become the asset and maybe they look for another coins ro do it.but it is the truth altough it is sad i hope this is only temporary and not permanently .but when the times come and still mamy updates need. We know that sehwit2x only can do this.so for all bitcoin user lets be patience. And after this its back.And just think positive all thinga will go to the flow and don:t forget to believe in the bitcoin

[jseverson]

I think that its sad if the community cant make update on our beloved BTC, since it needs it, badly otherwise it will just will not become nothing more than asset.
I believe that change is needed in order to go forward an add value to BTC.

We can make updates. Bitcoin is pretty outdated, in fact, and could use a few upgrades here and there to keep up with the fast emerging cryptocurrency sphere. The transaction confirmation times and the high fees remain as massive roadblocks to being a viable means of payment for the mainstream.

The problem here is the way these changes are going to be implemented. This hard fork does not have the consent of majority of the community, with a large chance of fracturing it. Instead of opting for compromise, they're simply pushing through with some large backers. That should not be how things are done. We should be united to some degree, at the very least.

[13abyknight]

I think that its sad if the community cant make update on our beloved BTC, since it needs it, badly otherwise it will just will not become nothing more than asset.
I believe that change is needed in order to go forward an add value to BTC.

Same thing was said when Bitcoin Cash was coming into existence but then again everyone stuck to using Bitcoin over BCH. No matter how many forks happen, they cannot overtake Bitcoin core as people would prefer the first version over the newer 'promising' ones.
Value of Bitcoin is already at an all time high as I'm typing this, so it's still on the right path with all these forks intervening in its progress.

[BlackRacerX]

If the community starts rejecting these changes to Bitcoins, then we'll all be having a hard time investing bitcoins as a whole. In order to better ourselves, we must accept changes. But if this change compromises the quality or might breach the security of bitcoins, then I reject this as well. But if the changes are really important and will help us small time investors, then I'll support it.

[kenkoy]

I expect this to happen. Many of the BTC investors are converting their Alts to BTC, expecting that BTC can manage its own after the fork. They believe that this fork will be the same on what happened with the last fork on August. Though, Bitcoin cash is doing fine. The BTC is still stable and he price is still surging. This may be one factor while a lot of international BTC communities are rejecting the segwit2x.