There's an unverified claim that it may still go ahead... anyone know if there's any truth to this at all?
https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000689.html
Topic: SegWit2x Called Off - page 3. (Read 797 times)
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.
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'm guessing this news has something to do with the volatile spikes today. Bitcoin dropped from 7800 to 7100 in about an hour earlier today. SegWit2x is being suspended by organizers for lack of consensus.
I was initially pro-SegWit2x, but seeing how it was being implemented and the plan to intentionally refuse to implement replay attack protection as a means to force itself into the dominant chain, I have to say that I'm glad this is being called off. As planned, I don't think this was going to go well and would have likely lead to a dramatic price crash in the ensuing battle.
I have seen some people arguing that BCH was a beneficiary of the SegWit2x fork, but I wonder if this dims the prospect of BCH now for them. The price of that coin has been holding up better than I would have expected.
The organizers of a controversial bitcoin software update are suspending their attempt to increase the block size by way of a hard fork.
Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply '2x,' was to trigger a block size increase at block 494,784, expected to occur on or around November 16th. The goal of the project, according to those involved, was to use the measure to increase bitcoin's transaction capacity, which is today constrained by the nature of the software's rules.
The suspension was announced today in an email written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward.
He wrote:
"Unfortunately, it is clear that we have not built sufficient consensus for a clean block size upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x."
"Until then, we are suspending our plans for the upcoming 2MB upgrade," he added.
The note is also signed by companies that originally supported the plan, forged at an in-person meeting in May, including Xapo CEO Wences Casares, Bitmain co-founder Jihan Wu, Bloq CEO and co-founder Jeff Garzik, Blockchain CEO and co-founder Peter Smith and Shapeshift CEO and founder Erik Voorhees.
The group said that it still hopes the block size will be increased further down the line, once there is more agreement from stakeholders.
In statements to the BTC1 Slack group, developer Jeff Garzik said the alternative software would continue to be developed, and that it may support "other chains such as bitcoin cash, litecoin and other bitcoin-family chains."
Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply '2x,' was to trigger a block size increase at block 494,784, expected to occur on or around November 16th. The goal of the project, according to those involved, was to use the measure to increase bitcoin's transaction capacity, which is today constrained by the nature of the software's rules.
The suspension was announced today in an email written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward.
He wrote:
"Unfortunately, it is clear that we have not built sufficient consensus for a clean block size upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x."
"Until then, we are suspending our plans for the upcoming 2MB upgrade," he added.
The note is also signed by companies that originally supported the plan, forged at an in-person meeting in May, including Xapo CEO Wences Casares, Bitmain co-founder Jihan Wu, Bloq CEO and co-founder Jeff Garzik, Blockchain CEO and co-founder Peter Smith and Shapeshift CEO and founder Erik Voorhees.
The group said that it still hopes the block size will be increased further down the line, once there is more agreement from stakeholders.
In statements to the BTC1 Slack group, developer Jeff Garzik said the alternative software would continue to be developed, and that it may support "other chains such as bitcoin cash, litecoin and other bitcoin-family chains."
I was initially pro-SegWit2x, but seeing how it was being implemented and the plan to intentionally refuse to implement replay attack protection as a means to force itself into the dominant chain, I have to say that I'm glad this is being called off. As planned, I don't think this was going to go well and would have likely lead to a dramatic price crash in the ensuing battle.
I have seen some people arguing that BCH was a beneficiary of the SegWit2x fork, but I wonder if this dims the prospect of BCH now for them. The price of that coin has been holding up better than I would have expected.
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