The Segwit2x Fork of Bitcoin Has Been Cancelled

8 Nov
2017

It is official now – the Segwit2x effort as a solution for Bitcoins scalability problem has been cancelled for the moment and it will not happen at least in its current format. The lack of consensus supporting Segwit2x is the main reason for the project being cancelled, so no 2MB Segwit blocks for now. Eventually Bitcoin will need some sort of a solution for further scaling of the network with the price going higher, more transactions happening on the blockchain and the fees starting to increase again as a result. As a result of the Segwit2x getting cancelled there will most likely be a significant price fluctuations for Bitcoin in the next couple of days with analysts expecting that altcoins should start to get back their lost positions and the altcoin market will most likely boom once more.

To read the official announcement of Segwit2X getting cancelled on LinuxFoundation.org…



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1 Response to The Segwit2x Fork of Bitcoin Has Been Cancelled

Brising87

November 8th, 2017 at 22:13

I see this as a good thing, I’ve posted around a few forums that stability should be bitcoin’s trademark. Until there is consensus that not only does it need to be done but also that it will be done, forking seems illadvised.

I expect the speculators will sell off now and bring a small price correction, but in the long term the price should settle.

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