SurBTC leaves SegWit2x agreement

Yet another cryptocurrency exchange, Chile's SurBTC, leaves SegWit2x agreement
12 October 2017   1595

Yet another cryptocurrency exchange leaves SegWit2x agreement.

This time this is the Latin American Bitcoin exchange, SurBTC, refused to support SegWit2x just a month before the planned November hardfork. 

The company claims that the new hardfork could be unsafe and is not supported by the Bitcoin Core developers. Indeed, has just published a “blacklist” of websites that continue to support the SegWit2x hardfork, arguing that storing any BTC on such services is strongly not recommended. 

We’ve always loved SegWit and we see a small increment (2mb) in the size of the block as a good idea as it would relieve pressure, lower fees and give some time to other more definitive scaling alternatives such as the Lightning Network to develop. Nevertheless, we can’t pretend to be bitcoin “scaling experts”. We don’t believe in trying to force a change bitcoin’s core developers don’t feel safe with.

Agustin Feuerhake
SurBTC team

The company also highlights that they haven’t seen proper support and they "don’t like what they currently see on the btc1 code repository in terms of technical considerations and open source collaboration".

SurBTC argues to be defending the interests of a growing Latin American user community that feels strongly against a new contentious hardfork. Thus, if the hardfork does happen, the exchange could eventually list both assets but will allow for sure its users to at least withdraw both. Due to practical reasons, SurBTC will continue to list BTC, and they will incorporate B2X (or the names that catch on among the industry) later.

Futures Don't Affect BTC Price, CME Group Says

This is said by company's Managing Director and Head of Securities and Alternative Investments at Consensus Singapore 2018 conference
20 September 2018   171

According to Tim McCourt, Managing Director and Head of Securities and Alternative Investments of the Chicago Mercantile Exchange (CME), bitcoin futures do not exert pressure on the price of the first cryptocurrency. He said this during the Consensus Singapore 2018 conference, CoinDesk reports.

We are just a small part of the market. Out of the 40 percent of bitcoin futures trading on CME that's outside the U.S., 21 percent are coming from Asia.

Tim McCourt
Managing Director and Head of Securities and Alternative Investments, Chicago Mercantile Exchange

He added that CME launched cryptocurrency derivatives in response to the demand of market participants. The users wanted to get a comfortable financial instrument with risk control on a regulated exchange.

Tim McCourt also noted that the market for bitcoin futures continues to grow, and this is particularly noticeable in terms of volumes in the Asian markets. According to him, trading activity in the hours before the opening of the US market has a tangible impact on the price of bitcoin futures.

It is worth reminding that in July CME Group head said that company doesn't plan to add altcoin futures.