With the potential upcoming fork caused by SegWit2x supporters, Bitcoin users are somewhat concerned about what the future holds. Although it seems unlikely this solution will cause any major network issues in November, one never knows how things will evolve in the next few weeks. There is now a NoB2x website which effectively lists all companies and service providers who do not support SegWit2x. This list is quite long, indicating the chances of survival for this particular scaling proposal are not all that great.
NoB2x List is Growing at an Accelerated Pace
It is not the first nor the last time we will see discussions about SegWit2x. This concept has a lot of “intent” support from most mining pools around the world, but that does not mean it will successfully activate on the network without a hitch. In fact, it is equally possible we never see it activate in the form originally outlined during the New York Agreement. With very little economic support and a growing list of people who openly oppose this concept, the coming weeks will be pretty crucial for the entire Bitcoin community.
The Bitcoin network will see its SegWit upgrade regardless. That upgrade is scheduled to take place in about a week from now. However, the SegWit2x supporters recently announced when they would introduce their Bitcoin hard fork in November and on which block it would occur. November will be a contentious time for Bitcoin as a whole, as no one knows for sure how things will play out. If it is up to SegWit2x supporters, their chain will become the dominant blockchain for Bitcoin.
There is a lot of opposition to this scaling scolution on the NoB2x website. That is not entirely surprising by any means, as all companies listed on the page want Segregated Witness but not necessarily a 2MB block size increase later on. Whether or not this situation changes over the next few weeks, remains to be seen. After all, it is possible some miners from both “solutions” will flock to Bitcoin Cash due to it being the most profitable form of Bitcoin to mine right now.
On the NoB2x website are some prominent names in the Bitcoin world, though, Acinq, for example, is a Lightning Network scalability provider. Bisq is a well-known decentralized exchange. The list also includes a lot of exchanges, brokers, and OTC trading providers. In fact, it even includes Bitfinex, Bitstamp, CEX, Gemini, Kraken, and virtually every other major exchange one can think of. There are also a fair few Bitcoin wallet provider on this list as well, which is not entirely surprising at this stage. SegWit2x is very contentious at best and often referred to as “BitMaiNCoin,” due to the world’s largest mining pool and hardware manufacturer clearly favoring it over both Bitcoin and Bitcoin Cash.
There are still some entities who need to clarify their official position, though. It is obvious some companies want to wait and see how things unfold before making any drastic decisions. Both Huobi and OKCoin are two very large cryptocurrency exchange. They are not included support for SegWit2x at this point, yet they do not openly oppose either. Bittylicious -one of the UK’s largest Bitcoin brokers- is not sure on how to handle things right now, although it seems likely they will follow the rest of the economic majority in the end. It is an interesting decision, but one that is not surprising at this time.
SegWit2x is a problematic scaling solution that will leave the community divided. We already have two “versions” of Bitcoin right now. Adding a third version to the mix will only make things more confusing and cause a lot of negative pressure on the overall BTC ecosystem. Although everyone is free to follow their favorite solution, SegWit2x seemingly has no chance of succeeding in any way other than issuing free tokens to Bitcoin holders and letting them destroy the price as a result.
from The Merkle