Segwit2x Hard Fork Cancelled

Segwit2x Hard Fork Cancelled

The SegWit2x Hard Fork has been cancelled. This had intended to increase the block size to 2MB while keeping SegWit. With the hard fork that we have just had implementing SegWit, it was an opportunity for  a good scaling solution to be implemented, and it was not.

They feared a chain split and a divide of the community, although the Bitcoin Cash scenario has also resulted in a chain split. A recent offshoot called BTG (Bitcoin Gold) was another attempt, however the developers premined many coins for themselves before releasing it. See thread about it on BitcoinTalk here.

The Bitcoin Core developers need to converse with the community, and investors, not just the ‘community’ as this is a worldwide currency with implications for much more than the small quantity who frequent forums. Surveys need to be conducted about what the users want, without becoming too centralised, and not to be lured in by these coins like Bitcoin Gold, which are other attempts to make some free money, remember there is no such thing as a free lunch!

The SegWit2x backers themselves called off the fork, but with the current SegWit, there are options now open to expand on the blockchain and improve capacity.