Bitmain Stands Behind Bitcoin Classic, Declares “Bitmain Warranty is not Bitmain”

In response to a group of bitcoin mining and exchange companies publicly rejecting the Bitcoin Classic hardfork, Chinese mining company Bitmain appears to be standing firmly behind its intention to test Classic.

The group against the software hardfork, calling itself Bitcoin Roundtable, declared in an open letter their rejection of any “contentious hard-fork (Classic/XT or any other)”. The Bitcoin Roundtable letter includes top executives of mining companies  BitFury, BitmainWarranty, BTCC, BTCT/BW, F2Pool, GHash.IO, Genesis Mining and Zoomhash among its signatories.

Ten hours after the release of the letter on Medium, the co-founder of Bitmain and Antpool, Jihan Wu, posted on Twitter that his company will start testing Bitcoin Classic soon, and that Bitmain Warranty is not Bitmain,

Bitmain is a China-based mining hardware company that runs Antpool, one of the largest with more than 20% of global bitcoin mining power.

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Courtesy of Kaiko.com

Bitmain had previously declared its support behind Bitcoin Classic. Wu pinned a February 1, 2016 post to the top of his Twitter page, stipulating that Antpool will begin testing Bitcoin Classic after the Chinese New Year holidays.

Even with Antpool’s support, things look bleak for Bitcoin Classic.With F2Pool at 32.29 %, Bitfury at 14.06 %, BTCC Pool at 12.50 %, BW.COM at 5.21 % and GHash.IO at 1.56 %, over 65% of mining power is currently against Bitcoin Classic. The mining power statistics change day to day but ultimately Bitcoin Classic does not have the consensus to succeed.

Bitcoin Classic is the second hard fork led by Gavin Andresen to run into opposition, although its block size increase is more modest than the previous one, Bitcoin XT.

Perhaps reflecting on the state of matters, Andresen today withdrew his bitcoin improvement proposal, BIP101, which led to the Bitcoin XT project. The BIP101 hardfork programmed in an increase of the bitcoin block size to 8 MB after achieving consensus of 75% of the mining power, but ultimately failed to gain anywhere near that support in miners. In contrast, Bitcoin Classic implements a one-feature patch to the bitcoin software that increases the block size limit to a modest 2 MB.

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