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— Max Keiser (@maxkeiser) December 21, 2017
SegWit2x fork cancelled. More over at TechCrunch.
Advocates for a bitcoin hard fork have now decided to cancel plans for the so-called SegWit2x fork. The bitcoin blockchain was supposed to split into two blockchains in roughly 8 days. But it looks like SegWit2x backers couldn’t convince enough people in the bitcoin community to make the SegWit2x blockchain the new mainstream bitcoin blockchain.
The SegWit2x fork should have increased the block size to 2 megabytes. This change could have helped when it comes to bitcoin scalability.
But it has always been a controversial change and many bitcoin companies have not actively supported the move. So many feared that this fork could have split the community into two branches.
Helpful analysis of the impending November Bitcoin SegWit2x from bravenewcoin.com. Are we in for a welcome short term FUD driven dip?
Bitcoin’s latest crisis and looming FUD (fear, uncertainty and doubt) event is SegWit2x, which keeps SegWit and raises the current block size limit to ~8MB. There continue to be concerns from many in the community over centralization of both the miners, who confirm the ledger as valid, as well as the development teams of all factions on both sides of the fence.
The problems with the SegWit2x fork are many, including but not limited to; one developer, little to no peer review, no support by the community, and support by only a select group of businesses, many of which are connected to Barry Silbert of the Digital Currency Group. The most influential company on the list for retail investors being Coinbase, which continues not to offer SegWit addresses three months after SegWit activation.