Those who once pledged their support of 2x have slowly turned their back on the fork. They’ve cited all sorts of reasons, primarily lack of consensus in the community. Of course, it was clear that there would be difficulties launching a hard fork just a few months after implementing the SegWit soft fork.

But the failure of the community and the Bitcoin development team to express any sense of urgency at fixing the scalability issue has had lasting effects. In fact, it has seriously skewed the way people now view Bitcoin.

Because of developers’ apathy when it comes to speeding transactions and lowering fees, the Bitcoin network has become much less useful as a payment network. The currency has now effectively evolved into an entirely new type of asset for investors to get excited about.

Progress has been made in advancing its investability with the announcement of futures, and the backing of a number of Wall Street investors, but when it has come to its retail adoption and bettering as a payment method things have been sluggish.