Bitcoin communities in Brazil and Argentina have issued a joint statement opposing the SegWit2x hard fork mandated by the New York Agreement (NYA).
The statement, which is signed by both local bitcoin associations and crypto startups including Bitsendal, Blinktrade, and Coinkite, opens by expressing the belief that NYA signatories entered into the agreement with the noble intention of improving bitcoin’s scalability. However, it criticizes the “means” through which the NYA have sought to activate the SegWit2x hard fork:
“We do believe the NYA signatories have the best of intentions in attempting to improve Bitcoin’s protocol, and we also recognize the invaluable service historically provided by the companies and the talented individuals associated with S2X. We profoundly disagree, however, with the means chosen to carry out such a plan. And therein lie all the discord, controversy, feverish debates, and even resentment for some actors.”
The statement lists 11 reasons why Brazilian and Argentinian bitcoin communities consider SegWit2x “ill-advised and unwarranted”. Several of these concerns relate to the manner in which the hard fork is being developed and implemented, specifically the speed at which it is being activated and the fact that the developers do not intend to add opt-out replay protection. Others relate to the assertion by some NYA proponents that miners — not users — determine consensus, a criticism that was also raised by the Seoul Bitcoin Meetup in its open letter to SegWit2x supporters.
The statement signatories concede that Bitcoin will likely need to undergo a hard fork at some point in the future, but argues that such a proposal requires more open, honest debate so that true community consensus can be achieved and the network can avoid a contentious, disruptive chain split such as the one that appears likely to occur in November when SegWit2x is activated.
“We believe sooner or later upgrades to the protocol will necessitate a hardfork,” the signatories explain. “With due planning and preparation the network can smoothly coordinate to effectuate such changes with minimal chances of chain split and disruption. That, however, requires time, education and testing.”
“We are all part of consensus,” the statement concludes.
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Last modified: March 4, 2021 5:00 PM