[2017-11-12] Xapo: Biggest Bitcoin Companies Could Move to Bitcoin Cash or Eth

[tyz]

Xapo President: Biggest Bitcoin Companies Could Move to Bitcoin Cash or Ethereum

Xapo will integrate SegWit after all, after the SegWit2x hard fork was called off by leading supporters including Blockchain, BitGo, ShapeShift, and its lead developer Jeff Garzik.

But, Xapo President Ted Rogers cautioned the bitcoin industry and community that some of the biggest companies in the bitcoin market may move to more flexible and supposedly scalable cryptocurrencies like Bitcoin Cash or Ethereum, taking millions of users and large transaction volumes with them.

Rogers stated:

“My guess [is] biggest [bitcoin] companies are packing up to move to Bitcoin Cash or Ethereum, and will take millions users and transactions with them. Will still support bitcoin but not a focus for their future. Xapo still bitcoin only & will implement SegWit but wouldn’t waste your time pressuring the others.

https://www.cryptocoinsnews.com/xapo-president-biggest-bitcoin-companies-move-bitcoin-cash-ethereum/

[Carlton Banks]

Don't let the door hit you on your way out


But let's be honest: they won't leave. It seems that Xapo, Coinbase, Bitpay and Blockchain.info have collectively decided to throw everything they've got at bullying or blackmailing Bitcoin users into accepting their ideas for developing Bitcoin. All they ever seem to achieve by force is forcing the Bitcoin developers to make the software more resilient.


And all this, despite having their own special crypto (Bitcoin Cash) that gives them everything they want, and yet they're still not happy. Which makes one question what it is they really want...

[richardsNY]

Which makes one question what it is they really want...

Ultimately, it all comes down to two specific incentives -- greed and the hunger for power. We're way past the days where Bitcoin was the main priority of basically everyone in this market. Despite all their attempts, the legacy chain remains the far, but really far majority of the support, and this will never change. Another thing that will likely never change, are these entities that will continue to come up with forks and whatnot to push Bitcoin into the ground. I am quite sure that we'll be facing at least another fork next year, after all, it grants you instant profits without doing any effort. Very tempting, right?

[Iranus]

It seems that Xapo, Coinbase, Bitpay and Blockchain.info have collectively decided to throw everything they've got at bullying or blackmailing Bitcoin users into accepting their ideas for developing Bitcoin.

The closest thing they're doing to "bullying" or "blackmailing" anyone is suggesting that people might decide to use a different crypto.

Xapo still bitcoin only & will implement SegWit but wouldn’t waste your time pressuring the others.

It's not exactly "blackmailing", is it?  It's not like they're saying "sell all of your BTC for BCH or we'll murder you" is it?

And all this, despite having their own special crypto (Bitcoin Cash) that gives them everything they want, and yet they're still not happy. Which makes one question what it is they really want...

They want their cryptocurrency to become more popular, because they consider it more convenient for their users.

[gentlemand]

So they waited for 2X to fail before they could be arsed to implement Segwit? That's not very impressive behaviour on their part. If you can't be bothered with the scaling put in front of you and ready to roll then than implies a rather powerful agenda.

[vit05]

The thing is, Bitcoin NEED other projects around. ETH has different goals than BTC. It is great that companies and industries start to adopt more of this revolutionary invention. Bitcoin will always be relevant even if they lose the first place in the marketcap ranking.

[Kingofbitcoin12345]

Let them do what they think is good for they’re company but the support might not that big because the community will only be supporting the original bitcoin.. Xapo is not even relevant wallet at this time because of high transaction fees they used to implement a year ago.. Those whom be supporting this will only pump it for a while and dumped after much profit..

[Oo ako to]

Let them do what they think is good for they’re company but the support might not that big because the community will only be supporting the original bitcoin.. Xapo is not even relevant wallet at this time because of high transaction fees they used to implement a year ago.. Those whom be supporting this will only pump it for a while and dumped after much profit..

I agree. Communities are still going to be loyal with bitcoin. These companies are just going to return again with bitcoin if they are going to do that because major transactions that are only happened with bitcoincash are from those who sold their bcc that they all got for free from the fork.

[Spaffin]

If bitcoin cash outperforms the original bitcoin for some of its features, including a higher throughput of transactions, then surely, users will choose a more successful version of the bitcoin. These are the laws of business and the market. Therefore, I do not see anything unusual if large companies will switch to the use of bitcoin in cash.

[Samarkand]

The thing is, Bitcoin NEED other projects around. ETH has different goals than BTC. It is great that companies and industries start to adopt more of this revolutionary invention. Bitcoin will always be relevant even if they lose the first place in the marketcap ranking.

And why exactly does Bitcoin need these start-ups?
Bitcoin has been around longer than every single one of them and worked just
fine without them.

What is happening here, is actually pretty simple. Businesses like Bitpay are generating enormous returns and
therefore the investors and the people in charge have a huge incentive to do everything in their power
to prevent Bitcoin from developing in a direction that is diametrically opposed to their business plans.
Bitcoin as a settlement layer with high fees doesn´t really work well for a start-up like Bitpay that is
dependent on affordable fees and fast confirmations.

[1BTC EQUALS 1CAR]

They could do that but have they answered the questions to theirselves that does the whole bitcoin community are going to do the same? Bitcoin communities still remain loyal to the original after a lot of forks and imitations that  existed so I doubt they will succeed.

[hatshepsut93]

I believe that this is nothing more than a bluff - it's a basic rule of economics that companies are following their customers, and not vice versa. They may offer their customers additional options by featuring altcoins, while still keeping Bitcoin as their main focus - but if they will simply leave Bitcoin behind and force all their users to switch to altcoins, this could easily destroy their company, because their customers will simply refuse to accept it. If people haven't switched to altcoins during all these years on their own, than any efforts of companies and miners can't force them to do so.