Xapo refused to consider original BTC as "real" bitcoin

The provideder of bitcoin wallet Xapo refused to give a guarantee that it will recognize the BTC chain as a "real" bitcoin after the SegWit2x
10 October 2017   1629

As the head of the company Wences Casares stated, the BTC ticker will be awarded to the chain with the greatest difficulty.

As noted in the new message on the Xapo blog, the company's position on the upcoming hardfork is identical to the one it took before the Bitcoin cash hardfork. Users of the service, therefore, will have access to both coins after the fork, however, which chain will be considered as a real bitcoin, Xapo at a given moment can not say.

Xapo’s policy in regards to forks is that, when there is a fork, we always follow the chain with the most accumulated difficulty and we make the minority chain available to our customers for them to sell or withdraw from Xapo.
We are going to call the chain with the most accumulated difficulty Bitcoin or BTC . If the minority chain is the one with 1MB blocks we are going to call it BC1 and if the minority chain is the one with 2MB blocks we are going to call it BC2.
 

Federico Murrrone
Co-Founder and COO,  Xapo

Xapo was one of the companies that signed an agreement on the activation of SegWit2x. To date, however, the project has not done any additional official announcements.

PBoC to Continue Anti-Crypto Propaganda

The regulator published a warning in its WeChat account called “Protection of the rights and interests of consumers of financial services”
23 March 2020   318

The People's Bank of China has returned to criticism of cryptocurrencies amid a worsening economic situation in the world.

On March 22, the regulator published a large-scale warning in its WeChat account under the heading “Protection of the rights and interests of consumers of financial services”. It describes three ways in which cryptocurrency service providers can mislead consumers.

First of all, the amount of fraud transactions with bots is serious. The average turnover rate of the top three overseas crypto currency exchanges is much higher than that of foreign licensed exchanges. Second, market manipulation exists in these exchanges where forced leveraged trading eventually causes the exchanges to explode. Third, money laundering is a big issue.

 

People's Bank of China

In addition, the Chinese Central Bank calls the opinion that Bitcoin may serve as a protective asset, erroneous. The regulator indicates its high volatility and recommends that citizens not follow the example of other investors and refuse to participate in cryptocurrency trading.