Quote from: d5000 on October 26, 2017, 08:46:45 PM

Quote from: petroaj on October 24, 2017, 06:07:06 PM

Coinbase also announced that segwit2x will be call B2X on thier platform. Does the segwit2x update create a new coin?? Why is Coinbase labeling it at B2X?

Actually the Coinbase announcement is a big setback for the "Segwit2x movement". It means that the Segwit2x supporters will have a very hard time to convince ordinary users that they are "the Bitcoin" and not "an altcoin". That is crucial for them, because otherwise ordinary users (those that don't have a clear stance in the block size question) would continue to use the legacy clients.

I think with this announcement Segwit2x is almost dead, because as an altcoin it would not survive (or only as a very small coin) and Big Blockers would use Bitcoin Cash instead. The only chance Segwit2x still has is to achieve 90% of the hashrate for a long time (that would need miners with really big pockets), or attack Bitcoin in a way that forces the legacy chain to hard-fork to another algorithm.

This was the consensus opinion based on their first blog post a few days ago. But you seem to have missed their follow-up announcement. Read here: https://twitter.com/coinbase/status/922992686512070657

Quote

In our prior blog post we indicated that at the time of the fork, the existing chain will be called Bitcoin and the Segwit2x fork will be called Bitcoin2x.

However, some customers asked us to clarify what will happen after the fork. We are going to call the chain with the most accumulated difficulty Bitcoin.

Before, during, and after the fork, Coinbase will refer to the legacy chain as "Bitcoin." However, after a period of time (at their discretion), they will begin referring to the chain with most accumulated difficulty as "Bitcoin" whether that is the legacy chain or the 2x fork. They have basically taken the position of Blockchain and Xapo, which is actually a huge victory for the "Segwit2x movement." It means if miners switch to 2x, the 2x chain gets the name "Bitcoin" (for Coinbase customers).