BTCB2 plunges 84% as Bitcoin BLAKE2b plans 45-day miner lockup

  • Bitcoin BLAKE2b developers will impose a 45-day coinbase lockup for newly mined BTCB2.
  • BTCB2 reached $1,799 in early September before losing 84% to $270-$315.
  • The rule activates at block 973440 and runs through block 979920.

Bitcoin BLAKE2b developers are preparing to impose a 45-day coinbase maturity period for newly mined BTCB2, beginning around Sept. 22 at block 973440 and lasting through block 979920. The change, merged into Bitcoin Knots through pull request #419, extends the standard Bitcoin waiting period of 100 confirmations before miners can spend block rewards. Luke Dashjr called the measure the first of three potential steps, including a possible one-year maturity period and the removal of rewards from blocks produced by non-miners if consensus is reached. The chain emerged after BIP-110 supporters and Bitcoin Knots backers failed to win support for restricting non-monetary data on Bitcoin, then struggled with inherited mining difficulty before adopting BLAKE2b, resetting difficulty and reducing block size. BTCB2, also known as XBT, reached $1,799 in early September before falling 84% and trading between $270 and $315. Developers say the price rise drew hashpower that contributed to misuse of the network, while reviewers have warned that enforcement without majority hashrate support could trigger another chain split. Neoxa said it will support the upcoming soft fork.

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