August 14, 2022

Bobby Lee: I was mistaken in supporting SegWit2x hard fork

Bitcoin industry veteran Bobby Lee said he was mistaken in his support for the failed SegWit2x hard fork, calling the attempt itself "extremely dangerous and irresponsible."

Recall May 2017, key playersThe bitcoin industry, including Bitmain, Bitfury, F2Pool, Genesis Mining, ShapeShift and Xapo, has signed the so-called New York Segregated Witness activation agreement and a hard fork, which implies an increase in block size to 2 MB.

The project was called Segwit2X, but wasmet with hostility by a significant part of the community of developers and ordinary users, who insisted on the lack of true consensus. It was expected that the activation of the hard fork will occur in November 2017, however, several days before the appointed deadline, its cancellation was announced.

Bobby Lee was also one of the SegWit2x supporters, however, in a series of tweets on Saturday, November 16, he admitted that he was wrong then.

“Two years ago I thought that SegWit2x would bethe best way to develop bitcoin. Subsequently, I realized that it was extremely dangerous and irresponsible to promote a controversial hard fork without protection against transaction replay and in the absence of consensus. Mea culpa! Bitcoin is real Bitcoin, ”- he wrote.

What threatens Bitcoin to the failure of SegWit2x developers to enable protection against replay attack

Former BTCChina exchange CEO also added thatToday, as never before, it strongly supports the original SegWit protocol, full support of which, including the native bech32 address format, is implemented in the recently launched Ballet wallet.

“We urge all other wallets and exchanges to add support for bech32 format addresses as soon as possible”- wrote Bobby Lee.

In a ForkLog interview last year, Bobby Lee called Bitcoin (BTC) and Bitcoin Cash (BCH) “his children,” whom he loves the same.