Banksters trying to control Bitcoin?!
If you're not a fan of the central bankers and crony capitalists of the current system;
Then you might be interested to know who is behind Segwit2x.
With a little digging, it is not hard to find that DCG (Digital Currency Group) is at the forefront of Segwit2x.
Who is in control of DCG?
These three board members are particularly interesting:
CEO Barry Silbert is an ex investment banker for Houlihan Lokey.
Glenn Hutchins is a former advisor to President Clinton and currently sits as a class B director at the Federal Reserve Bank of New York
Lawrence H Summers was the Chief Economist for the world bank, Undersecretary for International Affairs of the United States Department of the Treasury under Robin Rubin who he then succeeded in 1999 becoming the Secretary of the Treasury.
DCG is funded by Mastercard
They are large investors in BitGo - a security startup tasked with overseeing the development of Segwit2x.
BitGo will "guarantee that transactions cannot be double spent". But doesn't blockchain already do that?
The answer is yes. So it seems here that they are creating a middleman who will guarantee your transaction gets confirmed and take a fee.
Moral of the story?
We will be staying well away from Segwit2x
Visit our website: http://arcanebear.com/
Find us on Youtube: https://www.youtube.com/c/arcanebear
Join the conversation Telegram! https://t.me/joinchat/GDXsSUPBRLPdEsCVYUVnvA
This is really interesting view point on the upcoming Hardfork! I Do not like Central Bankster involvement with Bitcoin
Neither do we.. at all
Thank you Tijo @thearcanebear for the warning and info on this - Interessting times we are in... Cheers from the Seven Mountains in Germany - thanks to you and the Bearfamily, we are trying out some "swingtrading" this weekend - and are curious to see, if anything major will happen next week, once the Chinese unfold their next 5-yr-plan... a hug to Ana from us!
Thank you for your support @jkiw Definitely interesting times, so much can happen in a week or even a matter of hours. Good luck with your swing trades! Ana sends hugs back :)
Superbly explained Tijo
The biggest thing which bothered me about 2x is how "centralised" the decision process was with regards to the New York Agreement... And with BitGo trying to position itself as a middle man... Terrible. NO2X
Thank you! We agree #NO2X
Very good info. I am new to cryptos so every little bit of info helps.
@relaxitsme check out our youtube channel to learn more! https://www.youtube.com/c/arcanebear