‘Extremely Dangerous’ — Bobby Lee Regrets Backing Bitcoin SegWit2x
William Suberg's original article for cointelegraph.com reduced by 71%
In a series of tweets on Nov. 16, Bobby Lee admitted he was wrong to tout the long-dead Bitcoin scaling solution. Co-founder of cryptocurrency exchange BTCC and CEO of wallet manufacturer Ballet, Lee was one of the original signatories of SegWit2x, which aimed to increase Bitcoin's network capacity by doubling its block size to 2 megabytes.
"2 years ago, I thought SegWit2x was the best path forward for Bitcoin," Lee wrote. "I've since come to realize that it was extremely dangerous & irresponsible to push for a contentious hard fork w/o replay protection, esp. when there wasn't consensus.
Mea culpa! Bitcoin is the real Bitcoin." Still a source of contention, BCH supporters maintain that the altcoin is in fact the "Real" Bitcoin. "In Bitcoin, there's the notion of consensus where the majority of hash power decides on the real chain. Similarly in our world, the market decides on the real Bitcoin, the one with the most market value," he wrote.
Last week, Lee stated he believed Bitcoin would rise to $500,000 by 2028, and could ultimately become worth millions of dollars.
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