Hardfork failed?!

in bitcoin •  2 years ago  (edited)


As surprised as I was, will leave it here with you...

The Segwit2x effort began in May with a simple purpose: to increase the
blocksize and improve Bitcoin scalability. At the time, the Bitcoin
community was in crisis after nearly 3 years of heavy debate, and consensus
for Segwit seemed like a distant mirage with only 30% support among miners.
Segwit2x found its first success in August, as it broke the deadlock and
quickly led to Segwit’s successful activation. Since that time, the team
shifted its efforts to phase two of the project - a 2MB blocksize increase.
Our goal has always been a smooth upgrade for Bitcoin. Although we
strongly believe in the need for a larger blocksize, there is something we
believe is even more important: keeping the community together.
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. This was
never the goal of Segwit2x.
As fees rise on the blockchain, we believe it will eventually become
obvious that on-chain capacity increases are necessary. When that happens,
we hope the community will come together and find a solution, possibly with
a blocksize increase. Until then, we are suspending our plans for the
upcoming 2MB upgrade.
We want to thank everyone that contributed constructively to Segwit2x,
whether you were in favor or against. Your efforts are what makes Bitcoin
great. Bitcoin remains the greatest form of money mankind has ever seen,
and we remain dedicated to protecting and fostering its growth worldwide.



After years of debate, no final decision was made...

Well, we don’t have it around here though it was annoying to see this debate unfold yet without final cut we are back to square one. Except BCH happened...

What do you think will happen to the price, alts will blossom or ... ?!

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I remember this pic from the Matrix clip.
It is a give and take situation with B2X.
Now it looks favorable but in the long run it is not.
From what I read lately, it will make B2X centralized in a sense of the amount of data anyone need to compile in order to verify the blockchain and sync a wallet.
Hardfork failed????

I think it is good for the ALTS... For now...

Yep it is true.
Let's the party begin now!

Best news in crypto in the last few months... Those crappy hardforks are bad for cryptocurrencies overall... Altcoins are back! :D :D yeah!

I don't think the price will collapse. I am hopeful that this will be seen as a sign of confidence in bitcoin, I know that seems a little counter intuitive but I really think it will!


Wont collapse, but should correct a little bit, many people sold their altcoins just to get the segwit2x coin... People return to altcoins, BTC corrects a little bit and continue its normal grown...

This is good for BTC, getting over bought was a bad thing as it could have formed a bubble that could exploited and cause more harm...


Many of Chinese people around me are going to buy BCH because this hardfork failed. They think the Segwit2x deviatied from the original intention of BTC.


do you have any idea, if BCH can be mined???


Yeah a little correction is healthy as long as that long term trend carries on up!


It will keep trending up, but we dont want to trend up that fast!, the slower the better :)


Slow and steady wins the race as they say! :0)


Like Steem is doing right now,


please upvote me @jakson


Might account for the slight uptick in ETH?


Why do collapse?


I support you in this, I think that the hardforks that Bitcoin had, only divided its price...


I think that is very true


Me either while I'm not completely certain of what will happen the hard fork wasn't ready to happen and as a result I think we see that bitcoin is stronger now and coming together more then ever.


For now it is up, I guess we will see soon after news catches up...


I have been watching, wondering when the reaction is coming!


Yes.. a drop should come.. already retraced $500


I think a drop will be a small one before a big push ahead :0)


It's on the move forward now, No looking back. It will pass 10k before next month


That works be spectacular. It might be a bitcoin Christmas!


That would be amazing


I'm sure bitcoin won't collapse although it may drop for a short while. Bitcoin always seems to find a way to bounce back hard & I believe it will for a good few years yet & I have every confidence in it.


That is how I see it. The btc price will drop a touch as people go back to alts, but btc will be seen as more stout, and it will start going up again.


price will fall within some days but again it will raise up.....my personal [email protected]


Yes, even I do agree that price will not collapse. Bitcoin is on FIRE!!!! It's Price & Value going up & up day per day!!!


I'm sure bitcoin won't collapse


The source is legit. Confirmed by Erik Voorhees on Twitter: https://twitter.com/ErikVoorhees/status/928316364585963520

NO2X, No Hard Fork!


Wow, unbelievable...

If they want to keep giving me free money, I'm not going to stop them.

Some of my friends are planning to invest in bitcoin now that they learned about it. It's a personal choice but I also informed them of ICOs that look promising. I'd invest just a little bit more in bitcoin just to experiment. I think the price might stabilize for a while within the range of this quarter's.


Yes, market is quite awesome and unpredictable which makes it more interesting from game theory point of view. 😊

looks like this news is legit.. altcoins are growing.. but wait for final confirmation by cointelegraph..


coindesk is authentic too.. so the news is confirmed.. no segwit2x..


Price shooting up to $7800, lol 😂 looks many were against it


segwit2x token on hitbtc lost 83.26% within 30 minutes..

Yes, it is true. Segwit2x is called off. See the news at Coindesk: https://www.coindesk.com/2x-called-off-bitcoin-hard-fork-suspended-lack-consensus/

Wow! If this is true, I'm surprised!

I really thought there would be more movement in the market after the anouncement. Maybe there will be soon enough. I expected there to be a bigger btc sell off and altcoin surge. maybe it's happening just slower than many expected.

  ·  2 years ago (edited)

I think so too. There will be a big collapse because the majority of the people who buy bitcoin is purely for speculation only. I think the majority not fully understand the mechanism of bitcoin. They just see it keep going up so want to profit from it. It can only go up if more people accept to pay higher price for each coin. Until certain point when the price is too high enough, many people will sell it to cash out to realize the profit and avoid the risk of loosing what have been earned. That will make the price drop fast. Other people will see that and do the same because the believe "the collapse is happening" and it drop faster,...

I it is a great news for BTC lovers.

Goodie. The price will go up then ;)


Думаю к концу года цена дойдет до 10000$ за биткойн-этому есть все предпосылки.

BTC isn't going anywhere boys and girls.


BTC is to cryptocurrencies as WoW is to MMOs.

A good decision was made not to cause a 50/50 split in BTC. Would have been public relations disaster.

Need higher level of consensus before a major change

Great post

Great post

@good-karma I saw the news on coindesk and am very glad about this

I read a post that it is cancelled. Not confirm

In a few years we will be talking about the segwit effect.

Haha Feroz :P
Just saw you on SteemFest video :D

The Steemit community simply wasn't ready for a blockchain increase. Give it a bit of time and that may change, but for right now that fork would have only hurt us as a whole.

Thanks for elaborating, @good-karma.

God Bless,
Bishop Corey DeFrancesco

this is great! cheers all bitcoiners!

Bitcoin will break $10K by years end.

bitcoin won't collapse although it may drop for a short while.

We don't need any fork until next year. Pls stop forking btc

I feel like sending those people Hamlet's soliloquy: TO BE OR NOT TO BE. That's the question. Well, I feel disappointed. I was one of those people who tried to sell the other coins and bring some fiat money in to be prepared for this fork. Again, this looks like what internet has been all its life: a non-trusting phenomenon. To be a good enterpreneur, you need to have certain qualities that many of those people who want to have an online business lacks. In many cases, they don't want to put any effort and dedication to what they are constructing. And the spirit of being a decision maker is not visible. So, a cancellation for this or that is very potential and not only that, sometimes they dare to abandon the business with no notification and even close pages. Segwit2x is a thumb down right now. The cointelegraph just announced like this: "A circular sent to the mailing list by major proponent Mike Belshe says that it was “clear” the project “had not built sufficient consensus for a clean blocksize upgrade at this time.”

SegWit2x will therefore not activate Nov. 16 as planned, Belshe not naming a possible future date."

I think if Belshe would try today to give a date today, many people would say NO to him anyway.

Bitcoin.com just decided to close doors: "Roger Ver, appearing disappointed at the NYA signers’ decision to cancel, released a message confirming his Bitcoin.com resource would strictly deal with Bitcoin Cash only in the future."

The good news is that Bitcoin went up higher. For the last 2 to 3 days was going down, close to $7000 and now it is above $7500. Good time to invest in some potential coins with the extra money, just in case it goes a little bit down in the future. Although, with the holidays so close, probably it wont go down. I hope so.

If i understand correctly btc needs a bigger blocksize for it to work faster right? ...so if they don't do that , and more and more people going to use it , won't btc be unuseable?

He notado tu apoyo, gracias @good-karma .

Seems like the fork bended ;D

So what does this mean for the price? Will it begin to correct or will it keep rising?

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It might be a good opportunity for another alt to prove the value of segwit2x

@good-karma, very nice informations shared and also point out an issue. i hope it will stable soon need next 4,5 months. we should hope for the best. good luck
steem on...!

One minute silence for the people who were ready to get free BTC Gold :) Useful information shared~


So much drama

good decision to stop these forks.. would be madness if they continue the trend.

Its time to raise altcoins

wow, I did not see this coming. Well, the market seems to like the idea.

I am surprised that news @good-karma.

There is hope back... I think we can see this year steem go up 1.90 $ and next year it is 3..or .. 4

Good news now we can move on without all this 'forking' around!

With the hard fork becoming a thing of the past, @good-karma do you think the market value of BTC will drop in the coming days? Or it could go to the Moon.. :)

Görselinizde ki resme bayıldım.. Segwit2x in ertelendiği zamanı merak ediyorum.. Bitcoin güzel yükseliyor.

The Segwit2x fork seems like an absolute mess. Apparently 2x was supposed to be the only coin and 1x was supposed to disappear. But now it seems likely that 1x will win this battle. Wtf?

Thank goodness! I didn't care for the b2x so I've been buying alts on these dips, looks like it'll payoff.

I have good point of BTC in this season. So dont need BTC fork this season again. We have great belief about bitcoin.


Look at bitcoin cash. The growth has been incredible leading up to the fork. The overall long term value of bitcoin will be of immense value. We will look back at 10k bitcoin and go gee that's cheap!

what wil be the impact on ethereum because of this ?

This is a great post..
help & upvote me plz...

Its going back down to ~5000 before it will be able to go much higher than 8000.

I think this is good news for many people!

I think 10k will be reach before the end of this year. Until Bitcoin bull run ends it will be very difficult for altcoins overall. This could last to many months to many years. That's my take on this.

Growing 7770

Nice yours post

Bitcoin rate was touching the sky......☝

Hi ~i'm korean I saw you at Steemfest.
Do you remember the steembanner I gave you as a gift?
I want to see you again next year at Steemfest.


Hey roychoi, yes of course, thanks brother for stopping by and for the gift. It was great to meet you and your friend! Hope to see you around and at Steemfest3 😉


Thank you. Next time, I want to study English and talk with you.

that was really shocking for sure now wondering how bad btc would fall


wow.. if it is not a rumor.. this info it's going to cause some crazy days in the market :)

Upvoted your article, but thought you'd be interested in what I ran across on twitter:
Screen Shot 2017-11-09 at 12.49.54 AM.png

Then I found this:
Screen Shot 2017-11-09 at 12.57.03 AM.png

bad for those who bought B2X futures

And after that segwit2x crashed. Maybe it is for the best.

I don't think bitcoin collapse but who knows

very nice post

I think they just want to pump the price.

@good-karma Thank you for visit my blog and help Seoul STEEM PARK project~!!
I have been so nice to meet you in Lisbon :)
I'm sharing our picture as below~!
See you next STEEM FEST3~!


I hope this will be seen as a sign of confidence in bitcoin

Price will still down

I support you !


On the road to $8000

People will still blindly buy bitcoin, mob crowd mentality because it is continue to go up.

Someone explain to me what is really the value of bitcoin beside being the pioneer in crypto currency?


every one need this information @good-karma. that's good information. Alls Steemians must be say big thanks for you...

Hey there! I posted my reply in my own post but mentioned your excellent post in it so people can also come here and check it out: https://steemit.com/bitcoin/@wolfenlord/how-to-survive-bitcoin-s-panic-crash-and-subsequent-crisis

The price seemed to drop for all of 5 mins and then started to go up again. Will anything ever stop Bitcoin? :P


I don’t think so, just like nothing will/can stop Steem! 😉

  ·  2 years ago (edited)

hi @good-karma
i like ur all post n follow
but it is my 1st reply on your post

Altcoins will rise from here !!! Keep invested in altcoins for quick bucks !!!

Bitcoin growth in the past month was too much and too fast - mostly on account of the much anticipated segwit2x fork. I'm surprised that it hasn't corrected even after the fork was called off.

Surprisingly, this is the second time bitcoin failed to correct substantially even after hype following a fork died down (the last one was following bitcoin gold).

For all you know BTC might just have found support at 7k and might move up slowly from these levels without any more correction..

great post @good-karma

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I try to follow as much Bitcoin news as possible because my son gave me a Bitcoin certificate for my birthday in September, but I must admit that most of it is still Greek to me! Lol! I'm learning a little at a time though!

I simply love your articles, what great content and quality of posting you offer the community here on Steemit and abroad.

Thanks a lot :)

Wow really?

Saya tidak terlalu mengerti postingan ini?
Susah untuk saya pahami.

Well that is the market. We never know how it will end up. It is always changing. Let's see what will happen.

Great. Nor roll back the segwit :))
I don't get it tho, it's just 1 post from bitgo CEO. Is there anything from the miners? They're the ones who make the fork happen or not.


😍A very informative post. Great job. Keep it up! 😍
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