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Add Segwit2x Safety Alert
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Warn users about potential threat
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Cobra-Bitcoin committed Sep 28, 2017
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51 changes: 51 additions & 0 deletions _alerts/2017-09-28-segwit2x-safety.md
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---
title: "Beware of Coinbase, Xapo, and Bitpay!"
shorturl: "segwit2x-safety"
active: true
banner: "Beware of Coinbase, Xapo, and Bitpay!"
bannerclass: "alert"
date: 2017-09-28
---

## Summary

A minority of Bitcoin businesses plan on switching their users to a new incompatible altcoin
which they plan on wrongly naming Bitcoin through a controversial and contentious hard fork.
We believe that this new altcoin has no technical legitimacy and will only exist to make it
easier for corporations to influence the direction of the Bitcoin project. We urge all
Bitcoin users to immediately remove all their coins from Xapo, Bitpay and Coinbase in particular before November.
The altcoin these businesses plan on calling Bitcoin will never be Bitcoin. To be safe,
we recommend that you use Bitcoin Core as your wallet and that you avoid SPV wallets.

Storing any coins on these services is extremely dangerous as these companies openly plan on
departing from the existing consensus on what Bitcoin actually is. Your actual BTC might be
frozen and you may have to wait months to obtain them, or they may be lost in replay attacks.
By behaving in this way, companies like Coinbase, Xapo and Bitpay have shown themselves to be
enemies of the Bitcoin users. They believe that because you are their customer they have some
god given right to decide for you the properties of your own money.

Bitcoin is a peer to peer network, the design of the network ensures that some corporate
elites can't make backroom deals and try to change the network out from under you, but this
is only true if you run full node software. Depositing coins in services like Coinbase allows
them to abuse their position and decide for you what is and isn't a Bitcoin, and we believe
this abuse is likely to cause significant economic damage to you and the wider Bitcoin economy.
The best course of action is to cease using these services, and to instead migrate all your
coins to a full node wallet such as Bitcoin Core, as this is the only way to ensure you are
sovereign over your own money during the controversial hard fork.

## After the fork

As the very first Bitcoin site, and original home of the Bitcoin project launched by Satoshi Nakamoto, we will
never support Segwit2x, and will remove any wallets or services that present Segwit2x as Bitcoin and not as an altcoin.
Segwit2x is an attack on the Bitcoin originally envisioned by our site's founder, it essentially plans to turn Bitcoin
into something similar to PayPal and sets a precedent that rather than the users making their own choices, choices are made
for them by corporate elites who misunderstand the purpose of a decentralized currency. If the Segwit2x attack gains some level
of adoption and success, Bitcoin.org will work to educate the millions of users we receive each month about the true Bitcoin
network, and will aggressively warn users to avoid Segwit2x, and clearly explain that the network has been attacked by hostile actors.

The Segwit2x project will likely receive very little technical attention as most of the technical
community is not interested to work on it. This means that companies that adopt this fork will
naturally fall behind technically as the true Bitcoin network will rapidly advance due to the considerable
talent working on it. The true Bitcoin network will carry on as normal, and these companies will find themselves alone
and isolated on their new corporate controlled coin. Over time we believe Bitcoin users will abandon these companies as they
come to find out that they have been tricked and are no longer using Bitcoin.
2 changes: 1 addition & 1 deletion _config.yml
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