Bitcoin Forum

Why Bitcoin fork cancel and this is frustrating bitcoin price is going down again.

The community rejected it, feel free to check out my thread https://bitcointalk.org/index.php?topic=2376546.0

CEO company & Miners recognize the importance of community in the consensus for the evolution of bitcoin.

Yes, it's very cool, because all the altcoyins have gone up, everything is becoming more expensive. But maybe all of us are waiting for sevit in the near future. Maybe it's just decided to move it. So do not relax. Buy altcoyins, while they are still at a low start, then it may be too late. 8) ::) ??? ;)

Okay thanks. I read some more. I place my bitcoin in usd so it was safe before it surely down.

Why do you think Bitcoin price will go down? In my opinion that's exactly the opposite. Because before today there was a lot of doubt and some people genuinely believed the 2x chain would have been the prevalent, others were doubtful about which chain would have prevailed. Now, that's only Legacy, so I think this will lead to more stability and certainty.
Don't look on current correction, it's a sort of physiological one. But in the next days I'm confident price will rise again and hopefully will go over 8k $.

i'm pretty new to all of this, but, for what it's worth, my take on it is that this serves to reinforce trust in BTC rather than the opposite.

It seems the SegWit2x folks decided that the integrity of the social trust was more important than forcing a (n admittedly needed) improvement in the protocol.

For me, my trust has simply been amplified.

john

There were two kind of people who were waiting for the fork (or a mixture of this two):
1st: Just waiting for the airdrop and want to sell it immediately for a little extra BTC and didn't care much about the background
2nd: Just waiting for the airdrop to have the situation cleared as soon as possible to decide based on the conclusion where to invest
The first one was buying BTC in order to maximize the income from the new alt. The second one was hesitating to buy or not, but I think that it was about to wait, not to buy.
If the 1st type of people were the majority, the price will fall, because the airdrop (and the extra income) has 'postponed', so they probably will sell BTC. If the 2nd type were the majority, the price can continue to raise. We cannot tell this, but we'll see in a short period of time...

The fork was cancelled maybe because developers needs to strategizes the best intro of bitcoin gold and segwit2x given the fact that bitcoin value today is very much promising maybe this fork will take pace later in 2018 anyway we don't have to worry because this will not make harm to bitcoin and the value will not drop we are just seeing a sort of fluctuations and surely it will continue to go even more higher.

I read that segwit2 has been rejected by community. I think the price will go down and people will start investing to ICOs and Alt coins again.

Well, when you have too little support, even less than Bitcoin Cash, and you expect for a decent portion of the community to be changing their preferred crypto from BTC to BTCG (or whatever BTC Gold was going to be called), there's no point trying to divide the community even more.

I'm kind of glad this happened to be honest, it prevents Bitcoin from the "death by a thousand papercuts" that I was worried the community might have experienced if we had a ton of devs or groups trying to fork Bitcoin constantly.

It didn't had the enough support from the community, and i think that it is okay, but i wanted it to happen because i supported it more than the previous forks, anyway, i am happy because i just learned about the replay action today, and if this fork was going to happen, all of those who doesnt even know how to manage their bitcoins were going to lose a lot of money.
it is obviously going to be happening in a few months from now, so i really think that it will be going to happen by next year, obviously that segwitx2 was going to be a fail.

It doesn't mean that price would go down if segwit2X is rejected by community. I think it might boost bitcoin price or make it stable but after a while with no action people will consider going back to alts markets again, and for this reason alts have great potential to grow in the near future. For now I am just glad that it got cancelled because if it didn't we will see a bearish trend soon because of the lack of replay protection.

https://lists.linuxfoundation.org/pipermail/bitcoin-segwit2x/2017-November/000685.html
You must try to read the notice,


It's about the community of the bitcoin, they have stated about that was not their goal to divide the community into some parts due to the segwit2x will happen. They seem wise person.
Basically i don't care about what is segwit2x. but it seems to be a worst part due to the forced way to the community as become the forced way for bitcoin itself.

It was a good desicion, i dont even know why this fork has been announced, everybody knew that it was never going to happen, if you are active on the forum you should know that everybody was talking bullshit about this fork, and this is obviously showing that people didnt had enough interest in seeing this fork happening, so it had 0 posibilities to be done.
but yes, it was going to be a risky fork, i think that it was just a situation to make bitcoin rise, and then buy when it droped to $6900 again, everybody is earning money from that.

I'm of the opinion that the fork will still happen, probably not exactly canceled, but postponed in the next few days. because we've received an email notification of bitcoin about going to fork.
I'm not sure why fork is canceled, but usually bitcoin will fork if the transaction is not smooth the value is unstable and force to upgrade the new application for smooth transaction.

CEO company & Miners recognize the importance of community that the community was a larger obstacle than they first anticipated in the consensus for the evolution of bitcoin. Fixed it for you.

Now they will make a big deal all over the place on how it was for the benefit of the community, the same community they basically ignored all this time. In the end they realized without the community they despise so much that their profits would come to a quick end. Better late than never I guess, but it is definitely wasn't for the reasons they are now espousing.

Are you serious, this is actually better. You dont understand what this fork was for, only one chain would have survived and a lot of normal people would have been scammed, because 1 coin was supposed to be dead

Because it really didn't gain any support for the community. And even the most experienced members think that its gonna be messy at the beginning so its better to cancel it than implement segwit2x. We don't know the impact on the price, but we may see some minor drop because some of  the bitcoin traders will shift their capital to altcoin market once more. But we don't need to worry about it, its just a normal process.

Still trying to understand. A naive and just did a break even in the earlier investment experiment

Why are you guys upset? It is really good for the community that they have cancelled the fork. They have their bitcoin cash and they can fork it when they want without any approval.

Because they've recognize the strength of the community and the consensus to hold bitcoin that will result into dropping segwit2x new tokens price. Btc users are looking forward for an airdrop coin maybe the CEO's, companies and miners realize and then decided to back down in the end the community dictates what they want in the market.

I've been lurking this forum for a long time, and it must be painfull for those who have dumped their altcoins in order to get some free coins. But there were others who have flipped in time and made some good money.

As many people have already said, don't be upset: that fork was bad and would have hurt Bitcoin in the medium/long term.

The price drop is most likely due to those who have accumulated Bitcoin hoping to have free cash and now realize that it is not going to happen.

I am ready to bet that Bitcoin will continue its rise again, to a certain extent it is already recuperating from what it was a few hours ago.

As many people have already said, don't be upset: that fork was bad and would have hurt Bitcoin in the medium/long term.

The price drop is most likely due to those who have accumulated Bitcoin hoping to have free cash and now realize that it is not going to happen, so they sell their BTC.

I am ready to bet that Bitcoin will continue its rise again, to a certain extent it is already recuperating from what it was a few hours ago.

community reject it for sure.
we need more time to discuss about segwit.

well i think not bitcoin price is pretty okay for me and beside it needs to go down give a chance to buy bitcoins. the reason why bitcoin segwit2x hardfork is cancelled is because it is controvesial and it may break the community into half which segwit2x didn't want to happen but they will continue to develop the client according to article that i read online. it is good thing that the hard fork called because of no replay protection.

well I think not bitcoin cost is truly alright for me and close to it needs to go down allow to purchase bitcoins. the motivation behind why bitcoin segwit2x hardfork is wiped out is on account of it is controvesial and it might break the group into half which segwit2x would not like to happen yet they will keep on developing the customer as indicated by article that I read on the web

It is a natural thing. Bitcoin's price has always been extremely volatile - nothing has changed here. You just need to understand that we won't see only gains.
Correction, price decline, flash-crashes will happen - this is part of the bitcoin market. Just remember - every time when we have a dip or decline it is not a bad sign.
It is a great way to you or other people to buy bitcoin, it's an entry point for newbies and investors. So stop complaining and start to take advantage of it.

I think this was the right move and the fact that they realised that the community was not behind it is a god thing.

Ultimately nobody wants to destroy bitcoin and I think this had he potential to seriously disrupt and split the community.

maybe there some maintenance is going on why bitcoin fork is cancel it not in fact bitcoin price is going down because they are preparing something if the fork is ready. Some speculate they price is going to pump again.  

There were conflicts between the miners and the CEO company and in the end, they decided to stop the fork in order to keep a "united front".

simple edit it is Segwit2x  and it is altcoin not bitcoin ::) ::)

I think it is good for bitcoin that 2x bitcoin fork is cancelled and we still have bitcoin in its original form. The merket of bitcoin is moving down today and it is mainly few people cashing out profits and rest is just panic selling. Just no need to see the exhanges of bitcoin now. Everything will be  back to normal within 48 to 72 hrs.

actually i say it was a good move. there are of course a lot of conspiracy theories about this cat and mouse game but if we assume they are not right, then it was a mature move to cancel the fork or more accurately "suspend" it until further notice.
i have always said the 2 MB hard fork was too early and with all the attacks that btc1 project received, it was not in the best shape to perform a clean fork. and when we are talking about a hard fork it needs to be clean with a large support and although this had a large miners support, all the social media attacks prevented it from gaining any community support.

there is nothing frustrating about that! this is an opportunity to take profit and buy more bitcoins in the dip to make even more profit!

I think there might be some problem encountered in segwit2x that's why they need to cancel it maybe they did not polished it before the said hard fork and I think this is just temporary after few months this fork will start again developers need to enhance it and make sure people will adopt this coin otherwise it will be just like bitcoin cash and will not take the place of bitcoin today.

They couldn't garner enough support. They probably saw that it was a lost cause, and if they didn't cancel, they would lose all credibility and wouldn't be able to pull off the same move in the future. No one will support failures, after all. They seem to be getting behind Bitcoin Cash now, which is a low-risk move that leaves the door open for another coup attempt in the future. They won't succeed though.

It's alarming how many people are disappointed that the fork didn't happen. This is a good thing, and the issue goes beyond airdrops. You can also expect corrections, of course, because rises brought about by forks are artificial. All is well.

I think developers did some problem encountered in segwit2x that's why they need to cancel it before the plan date. that's why bitcoin is affected by eventually bitcoin will pump soon because CHina will embrace bitcoin and it will be fully regulated