Cryptocurrency commentator, WhalePanda, is known to be among the most outspoken sources against the SegWit2x fork. On Monday, a short article described as “final thoughts” on the split was published by the commentator. “Whatever Jeff, Bobby or any others like to tell you: This is not an upgrade, this is an attack. Prepare for very slow blocks and high fees, whatever that means for you,” he said, referring to Jeff Garzik, developer of the fork and BTCC CEO Bobby Lee, a proponent.
In a blog post dedicated solely to listing various negative aspects of the fork, the Twitter personality called it “just another attack against Bitcoin.” They warn readers that this fork will cause users to lose their financial freedom and will put it “in the hands of a couple of VC’s and CEO’s.”
The upcoming fork will be the third Bitcoin hard fork this year. It is scheduled to take place on or around November 16th. It has been drawing mixed reactions and has received opposition from several sources, including some of the company’s own developers, who are claiming that Bitcoin is experiencing a corporate takeover in the split. This group believes that the core software that has led Bitcoin this far must be maintained. In addition to these developers and other relevant companies, Bitcoin wallet provider Xapo also said last month that they might not consider BTC chain as the ‘real’ Bitcoin following this fork.
According to Bitcoin, this fork will upgrade the 'blocks' that serve as a record of all Bitcoin transactions, and create two Bitcoin Blockchains – one using smaller 1MB blocks and other using bigger 2MB blocks. According to WhalePanda, however, this is all false. They say that there is no such thing as block size anymore and only block weight. “Anyone calling it 1MB and 2MB is either intentionally trying to spread false information or just totally clueless,” they write.
The post states that the fork will lead to slower blocks and will in turn slow down overall development as well. It further discusses how “the chain with the most accumulated difficulty is Bitcoin”. According to the post, whatever the outcome of this split may be, users will certainly experience higher fees and slower network speeds.
SegWit2x is just another attack against Bitcoin, says WhalePanda
Cryptocurrency commentator, WhalePanda, is known to be among the most outspoken sources against the SegWit2x fork. On Monday, a short article described as “final thoughts” on the split was published by the commentator.
Published on Nov 08, 2017 16:19 By Danish Yasin