Coinbase Comes Out Against Bitcoin Exchanges’ Hard Fork Statement

Brian Armstrong, Coinbase’s CEO, publicly said he does not support the statement of around 20 bitcoin exchanges which says that in the event of a hard fork they will list the Bitcoin Core chain as BTC regardless of the longest chain or, presumably, regardless of price and other factors. Armstrong said:

“It doesn’t make sense to say BTC can only be modified by one development team. If there is overwhelming support from miners and users around any new version of the software (regardless of who wrote it), then I think that will be called Bitcoin (or BTC).”

Another exchange, Yunbi, has come out to say that they “respect the selection of the market and hash power, and will follow the longest BTC blockchain if hard fork happened.”

This creates a potential situation whereby some exchanges will list the Bitcoin Core chain as BTC while others will list the Bitcoin Unlimited chain as BTC if Bitcoin Unlimited gains the majority of hashrate, which is very likely if they do fork.

In such cases, users on

Read more ... source: CryptoCoinsNews

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