I think that we all are happy to see that those things become true, i was hoping that this fork got canceled, and twelve hours later it got canceled, it seems that i am a magician, lol. But yes, it is very weird to know that a fork got canceled just five days before it was going to be realized, i dont know why people didn't support this one, but yes, it was a terrible idea, and it was a fork.. We were going to lose a lot of money because of this one.
I am glad that it was eventually cancelled due to lack of consensus. In the past many weeks, there had been big and small Bitcoin leaders who expressed apprehensions about SegWit2x and some even carried some form of a protest online by wearing NO2x. The whole Bitcoin community is happy that things went well and that the voice of the many have been heard though it took time for that final decision to come down. So what have we learned on this another fascinating chapter? Well, they should always listen to the majority and should not be devising a plan even if it has no critical mass of support.
I think increasing the blocksize is a good thing. I was initially in favor of segwit2x, but the way they went about doing it was very problematic and potentially damaging. If they had instituted replay protection, the chains would have split cleanly and the side with the better ecosystem would have over time become the dominant ecosystem through market consensus. By not employing replay protection, they were attempting to force market consensus by essentially holding the system hostage. Anyone who didn't agree to their rules (which were NOT reached by consensus) risked having their mining power or coins devalued on a chain they were attempting to render inoperable by having the vast majority of mining power agree to support their version of the chain. In this way, they were attempting to strong arm everyone into their system because the threat of not going along would be two chains of vastly different value, and coins spent on one might impact the coins on the other. This chaos threatened the viability of bitcoin as a whole, not to mention the price. I think they ultimately called it off because people were starting to call their bluff, and a couple medium sized miners backed out, and they could start to see that the chaos would tank the price hard.
So while bigger block size is a good goal and something needed to be implemented, it needs to be done in a way to protect what bitcoin has already built. SegWit2x was not doing that, and they were not doing it on purpose.
They said that they are suspending it because they lack support for the consensus and will be back when they have community support. They also said that when the mining fee will be high then it will be a must to increase the block size or find a solution for it at that time may be the community will support them. This might be true but as long as the community stays together and is in favor of Bitcoin there won't be any problems.
