The Spanish Prime Minister’s move to take back some powers from Catalonia is the “worst attack since the dictatorship of Franco”, says the region’s leader.Carles Puigdemont was reacting to Mariano Rajoy’s announcement that he has approved implementing the previously unused Article 155 of the country’s constitution to assume control of the region to thwart secession attempts.Mr Puigdemont said Mr Rajoy had set out to “humiliate” Catalonia in an “attack on democracy”.He said removing powers from Catalonia was the “worst attack against the institutions and the people of Catalonia since the military dictatorship of Francisco Franco”.
HONG KONG — 23 OCTOBER 2017 — Gatecoin will not be supporting the upcoming SegWit2x (B2X) hard fork in November due to the lack of two-way transaction replay attack protection coded into this proposed software “upgrade.”
NOT supporting B2X means that we will:
NOT distribute any B2X to our clients
NOT process any B2X sent to our bitcoin wallet addresses
NOT list any B2X coin on our exchange
Therefore, Gatecoin clients hoping to claim newly minted B2X coins equivalent to their bitcoin holdings at the time of the hard fork, will need to withdraw their bitcoin from our exchange at least 12 hours before the hard fork occurs at block 494,784 (expected sometime in November, exact date TBC).
We will however be running B2X nodes in case the software’s developers decide to add replay attack protection in the future.
What is SegWit2x (B2X)?
SegWit2x (B2X) was proposed with the aim of settling the bitcoin scaling debate once and for all during a meeting of bitcoin industry participants (Gatecoin was not part of the discussions) held in New York in May 2017.
As part of this “New York Agreement” (NYA) the signatories promised to ensure that they would support an increase in the block size limit from 1MB to 2MB (and up to 8MB) within three months after the lock-in of Segregated Witness (SegWit).
This was supposed to keep both sides of the bitcoin debate (those advocating SegWit vs. those pushing for bigger blocks) happy. However, B2X has been criticized by Bitcoin Core, the bitcoin network’s main open-source development team, which cites the lack of replay attack protection as a major concern.
What is the SegWit2x (B2X) hard fork ?
At block 494,784, this B2X software will activate on bitcoin clients running version BTC1. This will make BTC1 clients incompatible with all other bitcoin clients that are not running the B2X code. As there has been widespread rejection of the B2X proposal there will very likely be a chain split or hard fork, as was the case with the Bcash hard fork in August.
What is two-way transaction replay attack protection?
This prevents you from “double spending” your coins after the hard fork. Without replay protection, new transactions will be equally valid on both the bitcoin blockchain and the B2X blockchain as they will be identical to one another. This means that any new bitcoin or B2X transaction can be copied or “replayed” from one chain to the other, hence the term “replay attack.”
To prevent this from happening, B2X should update their software so that new transactions are valid on one chain but not the other. This would be known as replay attack protection. Bcash successfully implemented this as part of their chain split in August and is why Gatecoin was able to support it.
How can I claim my B2X if not from Gatecoin?
We highly recommend transferring your bitcoin to an external wallet address before the hard fork if you would like to claim your B2X coins. Check with any specific bitcoin wallet providers or other exchanges that you use to see if they will support the distribution of B2X coins. Just make sure that any wallet or exchange service has provided enough protection against replay attacks.
How can I find out more?
If you are a Gatecoin client and have more questions regarding the B2X hard fork please email firstname.lastname@example.org.
Thank you for your cooperation,
The Gatecoin Team
If you are a journalist or media organization looking for additional comments on this update contact email@example.com.
The DAX had a quiet week, spending most of it close to the symbolic 13,000 level. In the Monday session, the index is at 13,051.00, up 0.46% since the Friday close. On the release front, the sole economic indicator is Eurozone Consumer Confidence, which is expected to remain to remain at -1 point. On Tuesday, Germany and the eurozone will release Manufacturing PMIs.
What’s next for Catalonia? On Saturday, the central government said it was imposing direct rule, invoking Article 155 of the Spanish Constitution. However, there is plenty of uncertainty, as this clause has never been used and it is unclear what steps Madrid will take. Spanish media is reporting that the central government will strip Catalan President Carles Puigdemont of all his powers and take over Catalonia’s local police force. Unsurprisingly, the Catalan government has condemned Madrid and said it will not accept direct rule. The crisis has led to many companies in Catalonia moving their legal headquarters to Madrid, and investors are nervously watching as developments unfold in Spain, which is the eurozone’s fourth largest economy. The Spanish stock market has started the week with losses, but this has not weighed on other European stock markets.
German politicians are busy conducting coalition negotiations, which could continue until the end of the year. The current talk are especially complex, because Chancellor Angela Merkel will have to rely on two other parties to form a government. The FDP, a pro-business party, is expected to be in the coalition. On the weekend, the head of the party, Christian Lindner, said that the governments should close tax loopholes for large companies such as Apple. This comment raised some eyebrows among investors, as the FDP has been a strong proponent of tax cuts. Traders should keep an eye on the coalition negotiations, as the makeup of the new government could have a substantial impact on the German stock markets.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
We start off with rising oil prices, diving into the reasons for the rise and what we expect for the future. We move on to the highly anticipated ECB decision and tackle it from a different angle. You are welcome to listen, subscribe, provide feedback and pledge support on Patreon. Black gold shining again: Inventories are [...]