Segwit 2x Officially canceled...

[chopstick]

See here:

https://lists.linuxfoundation.org/piper ... 00685.html


What an unbelievably sad day for Bitcoin. Not only has BTC activated Segwit in the obvious bait and switch with absolutely NOTHING gotten in return, but now the planned 2x hard fork has been canceled because apparently Jeff Garzik and crew forgot to grow a pair. Christ, this means that FUD and Lies and Censorship have won. The Blockstream corporate takeover has succeeded and now Bitcoin will likely remain with a permanent 1mb blocksize. It's utter insanity. The corporate interests behind Blockstream have won (for now.)

I can't believe how big of a pushover the Big Blocker team ended up being. Unbelievable. First the NYA to stop Bitcoin Classic. Then the Segwit2x Lie to stop Bitcoin Unlimited. Now we're stuck with 1mbforever. All because some of our Team did not have a bloody spine. Because they believed Lies instead of standing up for themselves and instead of standing up for what was right. I can't fucking believe it. There was no good reason to cancel 2x, none at all.

But none of this means that the war is over.

Legacy Bitcoin is dead. Our only hope now is Bitcoin Cash, which will carry on Satoshi's original vision of an electronic peer to peer cash payments system for everyone on the whole planet, regardless of their personal economic situation, while legacy Bitcoin's fees are going to continue to skyrocket as its value increases.

Unfortunately I find it unlikely that BCH will eclipse BTC in value anytime soon. This is why it is extremely important that Bitcoin Cash must make a name for itself as a PAYMENTS system, and SOON. All major businesses currently accepting BTC must now start accepting Bitcoin Cash immediately and drop Bitcoin. This needs to happen sooner rather than later. We can still bank the unbanked - With Bitcoin Cash. We can crush Visa, Mastercard, Western Union, and the entire legacy banking system - with Bitcoin Cash. Forget about legacy Bitcoin. The Bankers took it fuckin' over. Bitcoin Cash is our horse in the race, now.

[CryptoSapien]

I must say, I am disappointed. I was in support of 2X. I can't believe Jeff and company succumbed to Blockstream. This makes me very sad.

[chopstick]

I must say, I am disappointed. I was in support of 2X. I can't believe Jeff and company succumbed to Blockstream. This makes me very sad.

We have incredibly weak leadership. It was all over the day Gavin stepped down. Garzik turned out to be no better. Our enemies sensed this weakness, pounced on it and took over.

If Roger Ver or someone else with a spine and some conviction, willing to stand up for the Truth was in charge of the 2x Lead Development this never would have happened.

[GreyWyvern]

Bitcoin Cash could have only profited from a hashrate battle between the 1X and 2X chains. A smooth 2X hardfork would actually be moderately bad for Bitcoin Cash since it would give new life (via Tx space) to the legacy chain for at least a little while.

Now legacy Bitcoin is stuck with 1MB blocks and no plans to increase them. Lightning Network is still months away. Now is the time to start spreading the news about Bitcoin Cash as a superiour coin for commerce instead of speculation.

Tell everyone you know! This is "go time" for Bitcoin Cash!

[chopstick]

None of the promises that have been made about lightning network will ever be delivered. Mark my words.

[cryptobit]

So volatile is this market and we have seen it yesterday. 1100$ drop in 1 hour on this news make it very risky for short term traders. I think it is wise to just hold some of your bitcoin for long term like 2020 and then decide to sell partially.

[TinaOW75]

I'm relatively new and I have been learning as I go for better or for worse. The problem I see are transaction fees and I see that Bitcoin cash generally has lower fees? I mean, for a small investor like myself, using Coinbase offers security, but when half of my transfer is fee, it completely defeats the original anti-bank sentiment that alt-currency was originated from. So, without a hard fork and it's cause irrefutably the incorporation of bitcoin, profits from the small investors increasing, the balloon is in in the foreseeable future unless new leadership is found?!

[FlyButterfly]

I'm relatively new and I have been learning as I go for better or for worse. The problem I see are transaction fees and I see that Bitcoin cash generally has lower fees? I mean, for a small investor like myself, using Coinbase offers security, but when half of my transfer is fee, it completely defeats the original anti-bank sentiment that alt-currency was originated from. So, without a hard fork and it's cause irrefutably the incorporation of bitcoin, profits from the small investors increasing, the balloon is in in the foreseeable future unless new leadership is found?!

Exactly.

There is a huge lobby of Bitcoin miners, who are processing transactions. And that don't want to change anything. Since they are quiet happy with current fees. Obviously.

[TinaOW75]

Since they are quiet happy with current fees

Yes, just like any counter-culture movement, the original developers feel entitled to extraordinary profits. Since this movement is based on money itself, the profits are extra-extra extraordinary which leads newcomers to see that greed is still an unfortunate result of success. I know that a percentage of these fees could be absorbed by the transaction facilitators, as I doubt regulation would be acceptable in this instance-unless you consider price gouging a larger evil. I feel that newcomers will be turned off as the scams get more difficult to distinguish and even the 'good guys' are out for blood.
Overall, I am positive that with new waves of interests come new solutions to the normal problems that historically come into play as a community expands.

[TinaOW75]

If a company like Coinbase were to charge a monthly average transaction fee and make it payable versus automatically deducted. That would give their clients more flexibility in the process.

[TomZ]

As a result of this, I wrote a Fundamentals of BTC and BCH article, you may enjoy that.

[chopstick]

Looks like my anger was a bit premature... Bitcoin Cash is doing very well now, and much faster than expected.

I thought it make take 1-2 years for BCH to overtake BTC. Now, it looks like it will happen in a few months at most.

Either way, these developments are fantastic.

[chopstick]

Wow, so I just saw this tweet from Jeff Garzik:

https://twitter.com/jgarzik/status/932748809372778497

Wow. I take back everything bad that I said about Garzik and the 2x team. I did not know they were being attacked so hard and that his family was receiving death threats. Had I known, I would have been a little less judgemental.

My friends, there are some serious dark forces at work with Core. It is clear that the Powers that Be are scared of Bitcoin and they want to control it. They want to prevent it's ability to scale, they want to control it and they want to divide the community. Even just scaling to 2mb on the main network had to be stopped. I feel really sorry for Jeff.

Anyway, I'm not worried. Bitcoin Cash has had an amazing outpouring of support. They cannot stop us, and by going forward with these blatant attacks they only make us stronger.

I'd recommend watching the recent RT report with Rick Falkvinge on cryptocurrencies, Bitcoin and Bitcoin Cash:

https://www.youtube.com/watch?time_cont ... 6Obc_cJba4

[csnmf]

Looks like Bitcoin Cash is having another rally today!