Bitonic, the largest bitcoin broker in the Netherlands, officially stated that they reject Bitcoin Unlimited due to the solution`s contentious and dan
Bitonic, the largest bitcoin broker in the Netherlands, officially stated that they reject Bitcoin Unlimited due to the solution`s contentious and dangerous nature.
Like Zcash and other companies, Bitonic is not against hard fork. However, they don`t support contentious hard forks and will not support them in the future.
The publication commented that Bitcoin Unlimited is purposely eyeing on causing a split chain wherein the Bitcoin network will branch off into two separate identities: Bitcoin Core`s Bitcoin (BTC) and Bitcoin Unlimited`s BTU. This is an attempt to divide the community into two parts: supporters of Segwit or Bitcoin Core and supporters of Bitcoin Unlimited.
“We will not consider contentious hard forks (without industry-wide consensus) as Bitcoin. Instead we will consider it an alternative cryptocurrency which we will not, out of principle, support. We cannot exclude the possibility that a contentious split in Bitcoin eventually gains widespread support, overtaking the original. We will review our approach as the situation develops.”, stated Bitonic in their press release.
Why Bitonic`s announcement is important?
In the past few weeks, most Western and Asian bitcoin exchanges and organizations have taken a stance on Bitcoin Unlimited. In particular, Coinbase, Kraken, Bitfinex, Bitstamp and BTTCC, among others, have said that they intend to consider Bitcoin Unlimited`s token BTU an alt-asset when it is released.
However, European bitcoin exchanges and service providers like Bitwala are expected to make their statements on hard fork contingency and Bitcoin Unlimited. Bitonic`s rejection may pave the way for European bitcoin companies.