Receive all Cointelegraph news immediately in Telegram.
A group of Latin American Bitcoin businesses and entities has issued a joint letter expressing “deepest concerns” over SegWit2x.
The letter, signed by around 50 supporters from the Brazilian and Argentinian Bitcoin space, went live on Medium Wednesday.
The collective “opposition” to the forthcoming Bitcoin hard fork is the the latest to come from the industry, which has already seen exchanges and others signal public condemnation.
Last week, South Korea’s largest Bitcoin meetup released a similar open statement denouncing SegWit2x.
“We do believe the NYA signatories have the best of intentions in attempting to improve Bitcoin’s protocol, and we also recognize the invaluable service historically provided by the companies and the talented individuals associated with S2X,” the Brazilian-Argentinian letter reads.
“We profoundly disagree, however, with the means chosen to carry out such a plan. And therein lie all the discord, controversy, feverish debates, and even resentment for some actors.”
The group provided what it calls a “non-exhaustive” list of eleven factors influencing its decision, many of which match with reasons given by both South Korea and exchanges confirming they will not support any Bitcoin chain split.
“We believe sooner or later upgrades to the protocol will necessitate a hardfork,” the letter continues.
“With due planning and preparation the network can smoothly coordinate to effectuate such changes with minimal chances of chain split and disruption. That, however, requires time, education and testing.”
Bitcoin was down 8% Wednesday as the market appeared to correct from the unanticipatedly large gains last week.
Follow us on Facebook
For updates and exclusive offers, enter your e-mail below.
Thank you for contacting us! We will reply to you as soon as possible.
Thank you for your interest in our franchise program.
We are considering your request and will contact you in due course. If you have any further queries, please contact: