The co-owner of Bitcoin.org and Bitcointalk has said he will support a new Bitcoin proof-of-work (PoW) chain after SegWit2x – even if the Core chain survives.
‘Prepare To Support 3 Forks’
In a Medium post on Sunday, Cobra explained that the community should unite to defeat the SegWit2x “abomination” but should be open to supporting any chain later this month.
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“The market and exchanges should be prepared to support three different forks of Bitcoin this November. The original chain, the 2X chain, and the new Bitcoin chain with a better PoW,” he wrote.
“As soon as the new PoW hard fork binaries are released on Bitcoin.org, I intend to fully commit to supporting that chain and calling it “Bitcoin”, even if hash rate returns to the original chain at a later date.”
— LOL Crypto (@thelolcrypto) November 6, 2017
SegWit2x is coming under increasing pressure as its fork date nears, with media resource CoinDesk becoming the latest major entity to publicly give the hard fork a vote of no confidence.
In the “unthinkable” event that the 2x chain ‘wins’ majority consensus, the community should “recreate” it via a further hard fork, Cobra argues.
He further added:
We need to get to work to collectively recreate it. We won’t surrender and we won’t compromise. A new hard fork will be released with a new PoW algorithm and we’ll carry on as normal.
Internal pressure is doing nothing to impact Bitcoin’s record-breaking price performance meanwhile, with prices staying above $7000 after coming down around 2% in a move attributed to Asian market profit-taking.
What do you think about Cobra’s perspective on SegWit2x? Let us know in the comments below!
Images courtesy of AdobeStock
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