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2x Called Off: Bitcoin Hard Fork Suspended for Lack of Consensus (coindesk.com)

Posted by msmash on from the tussle-continues dept.

Alyssa Hertig, writing for CoinDesk: The organizers of a controversial bitcoin scaling proposal are suspending an attempt to increase the block size by way of a software upgrade. Known for its strong early support from bitcoin startups and mining pools, the plan, called Segwit2x, or simply 2x, was to trigger a block size increase at block 494784, expected to occur on or around November 16th. The suspension was announced today in an email, written by Mike Belshe, CEO and co-founder of bitcoin wallet software provider BitGo. One of the leaders of the Segwit2x project, he argued that the scaling proposal is too controversial to move forward. He wrote: "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."

8 of 50 comments (clear)

  1. Animosity by phantomfive · · Score: 4, Interesting

    Nodes that supported the fork were actually being actively blocked by other nodes. I don't know if that had any effect in his announcement, but it might have affected his ability to even mine.

    --
    "First they came for the slanderers and i said nothing."
  2. Re:Time to invest.. by Anonymous Coward · · Score: 5, Funny

    No. Currency markets are tightly regulated; such behavior would surely result in charges being sought and probably jailtime. Basically trying to manipulate markets is highly illegal and usually results in a very large slap on the wrist, such that it's not worth it.

  3. Re:Time to invest.. by Kenja · · Score: 2

    So you're saying buy high and sell low? Let us know how that works out for you.

    --

    "Have you ever thought about just turning off the TV, sitting down with your kids, and hitting them?"
  4. hq3x is better anyway by bluefoxlucid · · Score: 4, Funny

    I would have voted for a proposal to incorporate 2xSAI as well, but hq3x has long been the best option available. Does anyone even know how Segwit2x works?

    --
    Support my political activism on Patreon.
    1. Re:hq3x is better anyway by sexconker · · Score: 3, Informative

      He's making a joke. He's referring to filters for emulating old games.

  5. Re:Time to invest.. by MMC+Monster · · Score: 2

    Hint: Bitcoin and other Blockchain-related coins are not regulated by anyone.

    Not only is currency manipulation not considered illegal when associated with these instruments, but insider trading can be legally done as well.

    --
    Help! I'm a slashdot refugee.
  6. Re:Time to invest.. by DontBeAMoran · · Score: 2

    Can you please make an account already so that we can be friends?

    People here are mean and keep calling me a moran and I don't know why!

    --
    #DeleteFacebook
  7. Re:That settles it then! by DontBeAMoran · · Score: 2

    I'm telling you, it's a sure thing!

    Just go back to 2009 and buy two pizzas' worth of Bitcoins!

    --
    #DeleteFacebook