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The upcoming Segwit2x feature is an upgrade to Bitcoin, and yes, there is a change in consensus rules this time. Per bitcoin rules, bitcoin will continue to be the chain that has the most accumulated hashing power and produces the longest valid blockchain.
Majority Miner Supported Blockchain Survives
Lee and BTCC’s perspective of the situation share the same view as Coinbase, Bitpay, Xapo and other businesses by choosing to follow the most accumulated hashrate. Lee says the reason he likes bitcoin so much is because there is a “balance of power — no one group has absolute power.” Further, Lee digresses that there is no mathematical certainty or exact measurement of how much power each group has, and he believes this fork will be a good test.
“The upcoming bitcoin upgrade (NYA, Segwit2x) is a good test to see if the bitcoin community can move forward when only a subset of all the groups decide to move on to an upgrade of bitcoin,” the BTCC founder details. “It’s unfortunate that this upgrade is not fully supported by all groups.”
Contradictory Opinion from Litecoin Creator Charlie Lee
Following Lee’s AMA discussion his brother, and the creator of litecoin, Charlie Lee, wasn’t too happy with his sibling’s statements.
The litecoin creator is a very vocal “NO2x” supporter and has been against the upcoming hard fork. After the AMA Charlie Lee tweets this response to his brother stating:
Extremely lame Bobby Lee. Bitcoin (BTC) is not an altcoin. I have explained to you multiple times that miners don’t decide consensus.
Bobby Lee seemed confident about his company’s decision throughout the AMA and did not respond to his brother over Twitter.
“We are committed to the New York Agreement (NYA), and will proceed with the bitcoin network upgrade in mid-November,” emphasizes the CEO of BTCC.
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