SegWit2X — Or scam?

Recently, SegWit2X was set to launch at block 501451. That block was mined yesterday on Dec. 28. This hardfork was originally designed to help with the scalability issues of BTC.

When this block was mined the team released a short statement about the “long awaited” launch of the fork. But is this the same fork we all were watching a couple months ago?

The original SegWit2X fork began in May of 2017. More than 50 BTC companies compromised for a solution to BTC’s solubility in what is known in the community as the New York Agreement. The first part of the agreement was for a second layer solution called SegWit. This would appease the people who backed smaller blocks. But the second part of the compromise was to increase the block size to 2 megabytes. While the first part was followed through, the second part never happened.

The fork was supposed to start on November 16, 2017 it never happened because of the backlash from the BTC community. People were in an uproar about the for and its security concerns. This effectively halted the project and the team quit working on the project.

But recently we have heard news of the revival of SegWit2X.many here on Steemit of written about it and i have tried to inform others about what is going on here so they can make an informed decision. This SegWit2X is being done by a different group of developers who appear to be very suspicious.

In fact, the people on the project now have no affiliation to the people who previously were running the project or the New York Agreement. This raises a big flag to me because we dont know the motivation of these people. They appear to have no reason to be running this project.

There is also very little information out there about the members of this project. Many of the members have no available information or incomplete LinkedIn profiles. The founder, Japan Terlouw is one of these people. His profile is incomplete, and his status as the main developer is not proven. The GitHub page is also suspicious and lacking information.

The GitHub page for this project was created on December 19, 2017. The announcements of the return of SegWit2X began before this page was created.... this adds much to my suspicion of this group. Why would this page not be created until after many days of announcements? The team also is set to maintain 28% of the supply of these coins. That is a hefty paycheck they have set aside.

We have seen Bitcoin fork scams in the past. I believe this fork is the most suspicious to date. If you look at the date of creation of the GitHub page, the lack of information on these people, the large amount of coins they took for themselves and the fact that they exclusively paid for ads you end up with a very suspicious project. Are these people in it for the money from the coins they hold? Are they scamming the rest of us with a BTC fork? Or are they truly in it to better BTC and improve it?

Only time will tell, for now we can only watch and see what happens. Good luck and stay safe, make sure to research coins and projects before getting involved to help avoid getting burned in the end