The team behind Segwit2x have announced that they are cancelling the hard fork "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." Looks like the communities voice has been heard The next 24 hours will be interesting, and I expect many of the alts to start making a run
my fibonacci moving average lines on graphs totally predicted this outcome and is reflected in my price forecast, bitcoin is just like every other commodity market
Usually that involves a drop in Bitcoin as existing money flows out into the alt's. Doesn't seem the case here so far
Yes I've noticed that too. There was a very small dip in BTC where it dropped about $600USD but is already climbing back up again I imagine many people had fiat set aside to get into alts after the fork, and are buying up now instead Personally, I don't plan on doing anything right now - will wait for the emotion to get out of it, and then reassess early next week
think of all the people trading 2x futures, some got as high as $2k. expensive air https://coinmarketcap.com/currencies/segwit2x/
Killing off SegWit2X fork was the right move. It was intended to be a political compromise to prevent forks....and had clearly failed. I think this helps BCH substantially because it is now the only big-block on-chain scaling solution and I have moved funds into it today. Though I admit the run over the last week or so it's already had may have been insiders buying up so this news might already be priced in and we may get a sell-the-fact type market move now. Time will tell, but I am optimistic that once this news is digested by the market things might settle down a bit. Especially for the alts.
Personally disagree with the first sentence but that is neither here nor there, second one though is spot on in my opinion. Cheaper, Faster, MoaR, is what the is what the 'customer' is looking for, not politics, higher transaction fees and slooow confirmation times. This will be yet another nail in the coffin of BTC in my personal opinion. I think the failure of Segx2 will be the downfall of the current regime that pull the strings in the BTC political world, they are just providing proof positive that they are only looking after their own financial interest's and not those of the BTC ecosystem overall. Scaleability and speed is what is needed to go forward, both would offer a drop in transaction fees as well. What needed to happen was an adaptation to the 'Current' world of Crypto instead of living like a Dinosaur. BTC might stumble on for a few more years yet, but as history has proven time and again, Survival of the fittest will no doubt rule as it always has.
That disappointing to hear, I was hoping everyone would agree to get the block size increased to 2MB. No wonder Roger Ver is focusing on Bitcoin cash. There is way to much politics going on with Bitcoin these days and that leads to stagnant development at a time when development is critical.
