F2Pool Reneges: Bitcoin Pool Pulls Segwit2x Support Overheen Hard Fork

Chinese mining pool F2Pool no longer supports the controversial scaling agreement Segwit2x.

Tho’ the proposal has garnered support from many large bitcoin companies and the majority of mining pools, many take punt with its aim to boost bitcoin capacity by way of a hard fork, a mechanism that could lead the cryptocurrency to split into separate blockchain networks.

Stress has bot high with developers already hotly debating the merits of the hard fork (a grassroots movement has sprung up ter opposition spil well), even tho’ the switch is not slated for more than two months from now.

Albeit F2Pool wasgoed an original signatory of the agreement, its technicus Wang Chun is now among the proposal’s detractors.

Ter an email, Chun told CoinDesk:

“No. I don’t support [the] Segwit2x hard fork.”

Chun went on to add that F2Pool did not run the Segwit2x codebase, BTC1, for the very first part of the agreement, when mining pools rallied around the long-debated code optimization Segregated Witness (SegWit).

Representatives from Segwit2x were not instantly available to comment on whether the mining pool has alerted the surplus of the group or formally withdrawn from the agreement.

Volgers remain

While F2Pool has flipped, however, other mining pools seem to be steadfast, again, most claiming they’ll go after through with Segwit2x.

“Wij are strong volgers of the Fresh York Agreement (Segwit2X). Wij support scaling bitcoin and doing so responsibly. Wij hope that the hard fork part of Segwit2X will also be upheld,” said BTCC CEO Bobby Lee.

Bitfury CEO Valery Vavilov echoed this sentiment, telling, “The initial agreement for SegWit2x has not switched.”

Even with support still high, major mining pool Slush Pool, who did not sign the agreement when it wasgoed orignally released, remains undecided.

Marek Palatinus, co-founder and CEO of SatoshiLabs and Slush Pool founder, told CoinDesk, the reason for their indecision is the hard fork. Yet, he didn’t seem pressed to make a decision since the hard fork is still months away.

Do miners matter?

There’s bot much debate about how much mining pool support matters, and how much power the Segwit2x group has overheen decision-making.

Some bitcoin developers argue that users don’t go after mining pools, rather, mining pools pursue cryptocurrencies that are the most profitable, typically those with the most users and request.

Bitcoin contant, the cryptocurrency that split from bitcoin on August 1, provides an interesting and sophisticated case probe. Mining pools, such spil ViaBTC, arguably played a big role te launching the cryptocurrency, yet most mining pools only seem to be mining bitcoin metselspecie to make a profit.

But the allegation is Segwit2x is still pushing the narrative that miner support is necessary, arguing that because so much mining power supports its switch (harshly 85% now with F2Pool and Slush Pool out), it’s the keurig decision for the future of bitcoin.

Disclosure: CoinDesk is a subsidiary of Digital Currency Group, which helped organize the Segwit2x agreement, and has an ownership stake te BTCC.

The leader ter blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a stringent set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests te cryptocurrencies and blockchain startups.

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