Chinese Bitcoin Roundtable Affirms SegWit2X!
Hey all, Kemosabe here!
Just got my newest www.cryptocurrencynews.com alert on my phone mentioning that the Chinese Bitcoin Roundtable Forum Affirms SegWit2X!
According to the article
SegWit 2X is a project that provides minimal patching and attempts to resolve the conflict over the original SegWit activation on the network, also increasing the block size which allows for faster bitcoin transactions. This is a HUGE problem that BTC is facing right now!!!
The meeting on the 15th of June resolved the 4 following issues:
- Supporting the NY Consensus SegWit2x program
- Today, June 19th, They resolved to vote for the support of this program. Avoiding the BIP9 vote which would influence the official vote, they chose to write NYA in Coinbase on behalf of the vote. (I'm not sure the technicalities behind this one part of the resolution..)
- Immediately start NY consensus SegWit2X program, 1BTC software test and join testnet5, as well as releasing the official version ASAP following the release.
and finally 4) Activiate NY Consensus SegWit2 by July 31st!
This means that by july 31st there will be a resolved segwit for the BTC blockchain! Big news!!
Companies involved include Bitmain,F2Pool, BTC.Top, BiXin, BW,1Hash,Canoe,BATPool, Bitkan,BTCCPool, and ViaBTC.
The community seems to be highly supportive of the news here, What are YOUR guys thoughts?!? This could be a big leap of faith for these chinese miners... However, they are monopolizing a decentralized currency here! The original decentralized crypto, at that....
Anyhow, what will this mean for the future of BTC?? Those who transitioned to altcoins due to long payment times and high fees, will this help!?
Let me know your thoughts!!
Thanks for the update! I wish I understood what this means, but it sounds really important! Honestly though, I'm picking it up a little at a time.
To be 100% honest, I only got into this about 7 or 8 months ago. This is really big news though because they have been stalemating and creating a prolonged scaling debate. I hope this at least begins to resolve some of these issues for BTC. It's the large Chinese companies that are capitalizing on BTC mining and whatnot I think that are benefiting from all of this, hence why they did not want to come to a resolution sooner. Steemit whales are not the only whales out there ;D I could be a bit wrong, but this is my basic understanding as of now.
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