08/11/2017 · There was shocking news in the bitcoin community today as SegWit2x supporters suddenly canceled plans for a bitcoin hard fork later this month. The Segwit2x hard fork was scheduled to launch in mid-November. However, after receiving divisive support from the community, Segwit2x supporters have called off the proposed upgrade.
Despite yesterday’s announcement that the anticipated Segwit2x hard fork will not be taking place, Segwit2x futures markets continue to trade. As of this writing, Segwit2x futures are trading for approximately $250 USD on Hitbtc and Exrate, and trading for approximately $180 USD on Bitfinex. Also Read: Closing the Curtains on Segwit2x and the Following AftermathSponsored Links.
However, the Bitcoin Core developers, who control the Bitcoin Github repository, strongly objected SegWit2x. The market agreed with them, trading futures around only $1200 before the fork cancellation. Opponents of the fork argue that hard forks cause confusion. The Segwit2x code lacks a built-in replay protection as both blockchains use the.
However, the bitcoin core community thought of it as an attack on the original series in Bitcoin, and after a lot of back and forth and drama, Mike Belshe, CEO of Bitgo, posted a hard fork cancellation letter containing: "Our goal is always to make a smooth Bitcoin upgrade. Although we believe that in the end we need a larger block size, but there are more important things that we believe in.
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SegWit fork has been cancelled. How will it influence BTC price? In the evening on Wednesday, November 8, Mike Belshe, chief executive of bitcoin wallet service BitGo and project lead for SegWit2x, announced the cancellation of the hard fork due to a lack of consensus in the community.