HOT NEWS. No Hard Fork: Segwit2x Is Cancelled

What happened

SegWit2x is not happening – its organizers suspended the bitcoin software update due to community disagreements. Hard fork was initially scheduled for November 16th.

How do you know?

Mike Belshe, one of the SegWit2x leaders, wrote: “Unfortunately, it is clear that we have not built sufficient consensus for a clean blocksize upgrade at this time. Continuing on the current path could divide the community and be a setback to Bitcoin’s growth.”

So what now?

The hard fork proponents still hope that eventually on-chain capacity increases will become necessary. But looks like bitcoin stays where it is for now – or, more precisely, skyrocketing to all-time high of $7,888.

What can we learn from it

  • Once again, crypto market proved that it’s far from maturity
  • But maybe, that’s the beauty of it?

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