Topic: Segwit2x cancellation discussion - page 2. (Read 2293 times)

https://twitter.com/BitcoinGhana/status/928535453871034368

I think btc should correct a bit since it has been pumped for airdrop. Also BCH will pump. Since 14 nov we will have future market things will swings a bit in the beggining and then stabilise.

There won't be a x2 fork , no free coins ( I think we should expect everything with cryptos)

Segwit might have been a way to pump the value, because the thought of free coins attracted many new customers (though most value pump came from the hype)

Except it does. It's one of the reasons for the recent all time high. People were moving their alts into bitcoin to get more free coins from the fork. That translates to higher demand, and consequently higher value.

Where do you read this? They just say that they "are monitoring the update on Bitcoin Segwit2x and will provide an update in the coming days"

So the New York Agreement between Segwiters and Big Blockers came to an agreement that they would do both.
That got enough people to agree, so that step 1 could be passed, and Segwit came into force.

The next step was obviously the bigger blocks, but the segwiters already had what they wanted, so reneged on the deal and screwed over the big blockers.

Is any of that wrong? Good luck agreeing on something next time out!

I'm missing something here? It looks like Coinbase still want to push this fork. If that's the case, I advice everyone to withdraw their funds already.

Looks like somebody took a great advantage of the current situation or the market itself made the sudden surge in price.
There was a sudden decrease in price when the announcement was made and then the Altcoins spiked up. Now Bitcoin has recovered half of the price drop and may be will recover it soon within the day. I thought BTC would drop atleast $1000-$1500 since there were many people who bought BTC just for the sake of free coins from the fork. But to my astonishment the drop has been recovered.

Maybe that is why bitcoin suddenly surged to 7900 then plunged down to 7300. Someone did make a pump and when everyone followed he made the sell-off before reaching 8000 and after the plunge the news was published. These dramas made people lose money.

I see that the suspension of the Segwit2x fork has made a positive impact on the market. I say it positive because Bitcoin's price went down initially but recovered quickly. The drop in BTCs price made the altcoins jump from their idle position. Seeing BTC drop people bought it more which made it recover the price. So we can say that the money invested for the fork is now transferred to Altcoins while keeping BTC at is normal price.
Nobody knows what's going to happen next.  

No need to voting, everybody writes what you think, I think about Segwit negatively, 1 Mb block volume is enough now, enough in future.

I couldn't agree more with you. The normal people will generally associate cryptocurrencies with bitcoin when they hear cryptocurrency on the news. And a lot of the people who are already into altcoins just want to accumulate more bitcoin for the long term. That's why I think bitcoin will be the THE cryptocurrency as well.

It was also very mature from all these parties to come together and end up canceling off segwit2x. Segwit 2x was the main reason why those parties agreed to activate segwit 1x. It really warms my heart that they actually chose to maintain the community instead of dividing it.

segwit2x doesn't affect the price of the bitcoin that much. its just a free coin for the bitcoin holder. maybe forked may cause the bitcoin value to rise up again.

I disagree. For a long time I was debating whether or not Bitcoin would be THE cryptocurrency and now I'm certain it will unless something drastic happens. As the distance between Bitcoin and the alt coins increases it will attract the majority of the money, talent & interest needed to propel it forward. The cancellation of Segwit2x gives both sides of the debate a chance to work together to find a reasonable compromise to scale bitcoin and that may or may not be a sidechain or blocksize increase.

As much as I was against Segwit2x I have no ill feelings towards the parties involved as the agreement behind it is probably what helped us get Segwit in the first place. Calling it off was a mature move and shows there is some sanity in this space. Although.. I was looking forward to swapping away my segwit 2x coins

The miners mining bitcoin are asic mining machines they are only good for mining asic based crypto currencies. Bitcoin has hit a stumbling block pardon the pun as the block size is 1Mb, this 1Mb block size is too small to carry all the transactions so as a result there are longer delays in transactions and higher fees. There are to competing factions in Bitcoin, the Core who are the original tech team designers and then you have Miners and coin exchangers. The segwit2x Hard Fork was not designed by the original core who are purists and just want to let the thing roll with it's original design and the Ethos that it will be the Worlds Financial System when Fiat collapses. However the miners are the ones solving the blocks and providing the proof of work for rewards such as transaction fees and bitcoins. Obviously the miners will mine whatever is most profitable considering they have a massive outlay in hardware and Power consumption. The Hard Fork that was proposed segwit2x the 3rd Fork from recent times had the backing of the miners 80% from (NYA) and had the Fork taken place Bx2 Coins would have been issued for each bitcoin owned. The designers of the new bitcoin software thought that everyone would hang onto both wait and see that all the mining would have been done on the new fork and B2x would be The Bitcoin BTC. The Core designers and some in the community were not happy about this because Bitcoin currency was supposed to be decentralised however segwit2x would have showed us that this is not necessarily the case. The reason I believe it was cancelled was the potential damage it could have caused to both groups in bitcoin. I mean what are miners going to do with a heap of mining hardware if the coins weren't worth mining. So if they let it run it's course without tweaking software bitcoin will slowly grind to a halt cos it won't be worth mining so nobody will be keeping the ledger up to date and transaction fees will be so high that the bitcoin would be no good for purchasing anything.
Bitcoin was meant to be mined on regular laptops and computers so that there was no mining monopoly, but with greater technology so came large mining operations of which the system relies.
Remember bitcoin wasn't created to be a commodity it was created to be a new financial system. Segwit2x would have proved if Bitcoin was truly a financial alternative. They will still have to have a Hard Fork at some stage and soon. Imo.

BTC already went up a lot now looks alt coins turn.

I absolutely don't agree with the person who you are quoting in this reply, just to be clear.

I think the user was trying to state that people were bubbling bitcoin up and those who bought a large sum at around 7,800 were shocked by the fact that there would be no fork and were unable to get money out in time. I personally feel like it's the investors fault if that's really the case. You can't really depend on something that's not set on happening. Furthermore, I agree with what you said about segwit 2x being more of an attack on bitcoin than anything. Seems like it really would have messed up the community.

I think the cancellation of segwit2x was a good this show how people (us) still have the power when it pertains to bitcoin. This suppose to be changes is to absurd to me, because its tampering with satoshi nakamoto's invention which bitcoin.

Segwit2x seems unacceptable, which is why the BTC goes to the moon?