The Wallet Provider Bitgo Reveals Its Contingency Plans

Software Wars: Segwit2x Uncertainty and the Casting of Miner VotesThe upcoming Segwit2x hard fork has been the ‘talk of the town’ among cryptocurrency enthusiasts everywhere. As the event approaches, many crypto-luminaries and bitcoin-based organizations have been letting the public know where they stand concerning this consensus change. This week the startup Bitgo revealed its contingency plans for the approaching Segwit2x fork slated to happen at block height 494784.

“The difficulty for wallet providers handling the Segwit2x upgrade is that it does not provide an ability to safely send transactions onto only one side of the forked chain,” explains Mike Belshe co-founder and CEO of Bitgo. “To ensure safe spending of coins, Bitgo will build infrastructure to isolate each transaction and direct it to only one chain — Everyone at Bitgo very much would like to see one chain emerge after the fork — Although there is much debate within the community right now about how the fork will play out, we are prepared for any result.”

Bitgo will be supporting the most viable chain as quickly as possible (based primarily on market price), and will support the minority chain a few weeks thereafter. Although this process will likely take a few days to settle, all Bitgo customers should feel safe that value from both coins will be preserved and made available to them.
Individuals Distancing Themselves from Segwit2x

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The Wallet Provider Bitgo Reveals Its Contingency Plans

Software Wars: Segwit2x Uncertainty and the Casting of Miner VotesThe upcoming Segwit2x hard fork has been the ‘talk of the town’ among cryptocurrency enthusiasts everywhere. As the event approaches, many crypto-luminaries and bitcoin-based organizations have been letting the public know where they stand concerning this consensus change. This week the startup Bitgo revealed its contingency plans for the approaching Segwit2x fork slated to happen at block height 494784.

“I supported Segwit2x is because I hoped that by making Segwit a reality that we could somehow bring a fractured Bitcoin community tighter together when it needed it most,” explains Hoffman’s post.

I was wrong — I no longer feel this is a reality.

In light of the recent death threats that I have received, I realize that Segwit2x is a bad idea and I publicly revoke my support for it.

I was wrong — I no longer feel this is a reality

This is why we are here — Bitcoin Core is outdated and non-scalable code because the developers are incompetent or have their own secret agenda they won’t share with investors which is a federal crime similar to insider trading.