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Segwit2x Bitcoin Fork Suspended

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Re: Segwit2x Bitcoin Fork Suspended

#3

Post by thefalcon »

captaincrunch wrote: post #2

What a great way to manipulate the market.

I don't understand this desire to immediately assume bad faith in these situations. It's a complicated situation, involving a lot of actors. Yeah, probably some of them are acting in bad faith. But probably most of them are just trying to develop a functional cryptocurrency. This stuff is very hard, and having it all so decentralized only makes it harder.

Personally I was hoping for the 2x fork to succeed, or, barring that, for some kind of miracle switch over to Bitcoin Cash, which has the 8x capacity without the baggage of Segwit. But realistically this is probably the best outcome for Bitcoin for the reasons outlined in the message.

Re: Segwit2x Bitcoin Fork Suspended

#5

Post by thefalcon »

cypherpunks01 wrote: post #4

Wow! Site is down, can someone copy the text over here?

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.

Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees

--

Mike Belshe CEO, BitGo, Inc

Re: Segwit2x Bitcoin Fork Suspended

#6

Post by captaincrunch »

cypherpunks01 wrote: post #4

Wow! Site is down, can someone copy the text over here?

[Bitcoin-segwit2x] Segwit2x Final Steps

Mike Belshe mike at bitgo.com Wed Nov 8 16:58:41 UTC 2017 Previous message: [Bitcoin-segwit2x] Require a new Statement from NYA companies Next message: [Bitcoin-segwit2x] Segwit2x Final Steps Messages sorted by: [ date ] [ thread ] [ subject ] [ author ] 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.

Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees

--

Mike Belshe CEO, BitGo, Inc -------------- next part -------------- An HTML attachment was scrubbed... URL: " rel="nofollow">http://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/... Previous message: [Bitcoin-segwit2x] Require a new Statement from NYA companies Next message: [Bitcoin-segwit2x] Segwit2x Final Steps Messages sorted by: [ date ] [ thread ] [ subject ] [ author ] More information about the Bitcoin-segwit2x mailing list

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