SegWit2x seriously losing support?

[thr3]

I am not sure how accurate this still is but from the NYA agreement:

NYA Agreement

Yea things are pretty weird for bitcoin at the moment because there are essentially 2 different major groups at the moment, one for and one against. I know Coinbase played a huge role in the NYA agreement for Segwit2x, it was another reason why they chose not to support BCC.

Good news is pricing is reaching $6000 for a bitcoin. But the fork adopted by most players will eventually go to the one with the highest number of hash power.

[BitcoinNewsMagazine]

You are forgetting about Bitmain. They control or influence enough hashpower to ensure the fork happens mid November. Jihan Wu has always said in public they will change to mining with btc1 no reason to doubt his committment so far.

[tiger2monkey]

Hope so - so that the community can unite and move bitcoin forward to next level. No an expert here, just wondering why increase block size to 2MB. Is it better to reduce block time and block reward in half? This way - 
 1. Miners will get same amount of reward (half amount per block, but double amount of blocks in same time period)
 2. Bitcoin network will process double amount of transactions
 3. Confirmation time will reduce in half - faster transaction

[DimaPechka]

It was weak anyways, they could barely help you with anything

[xFiber]

You are forgetting about Bitmain. They control or influence enough hashpower to ensure the fork happens mid November. Jihan Wu has always said in public they will change to mining with btc1 no reason to doubt his committment so far.

The fact that Bitmain and Jihan Wu can single-handedly decide to go through with the segwit 2x fork is everything that's wrong with bitcoin at this moment. The community is clearly against the fork but seemingly Mr. Wu doesn't care.

[moore100]

I really think that the Fork is gonna happen but maybe it will not be exactly november but who knows

[kueyen]

It looks like the support is dwindling as we get closer to this mid-november hard fork deadline. Let's wait and see.

[mezzomix]

You are forgetting about Bitmain. They control or influence enough hashpower to ensure the fork happens mid November. Jihan Wu has always said in public they will change to mining with btc1 no reason to doubt his committment so far.

The same way he changed his miners to mine BCC when he initiated the last hard fork?!

[BitcoinNewsMagazine]

A way to monitor support of the fork is to see how traders are betting on BT2/BTC futures.

[fl1pp3r]

In november or early in 2018 the fork will happen.
Its just a matter of time.

[mczarnek]

I don't think all of these forks: BCH, BTC and BC2 are good for Bitcoin or the crypto industry long term. It creates confusion in the minds of investors and businesses on which chain is the "real" bitcoin. For better or worse Bitcoin remains the #1 crypto asset benefiting from network effects. It is my sincere hope that Bitcoin avoids the fork and that the industry focuses on increased crypto adoption by consumers and businesses rather than more bitcoin forks. Have any of you attempted to send BTC with a Segwit enabled Ledger Nano S? Transaction costs are at least 50% to 80% lower than they were before the August fork.

[squatter]

You are forgetting about Bitmain. They control or influence enough hashpower to ensure the fork happens mid November. Jihan Wu has always said in public they will change to mining with btc1 no reason to doubt his committment so far.

The fact that Bitmain and Jihan Wu can single-handedly decide to go through with the segwit 2x fork is everything that's wrong with bitcoin at this moment. The community is clearly against the fork but seemingly Mr. Wu doesn't care.

I wouldn't think about it like that. The miner takes all the risk with a fork in a proof-of-work economy. Sure, fork shenanigans and playing games with hashpower distribution could affect the markets in the short/mid term. But Bitmain would be the one taking the risk, because they are expending the energy to mine the coins. If no one wants to buy their forked coins, they've flushed a lot of money down the toilet. Users just need to be able to hold through all the shenanigans and price swings. They won't lose anything.

Now, if Bitmain and the major services/exchanges succeed in pushing most of the user base into a fork, we've got problems. Then I might start looking into other coins to invest in long term. But I think users will stay on the legacy chain, for the most part.

[miguelmorales85]

You can check SegWit2X support from another point of view: The point of view of the Market.
I discovered that Bitfinex let you trade with what they call Chain Split Tokens (CST)
I let you their blog post here: https://www.bitfinex.com/posts/221

If you see the graphs the CST for SegWit2X is going down so the market is not really buying the new SegWit2X. I am not saying it will fail , I am just highlighting the market position about it.

peace

[xFiber]

You are forgetting about Bitmain. They control or influence enough hashpower to ensure the fork happens mid November. Jihan Wu has always said in public they will change to mining with btc1 no reason to doubt his committment so far.

The fact that Bitmain and Jihan Wu can single-handedly decide to go through with the segwit 2x fork is everything that's wrong with bitcoin at this moment. The community is clearly against the fork but seemingly Mr. Wu doesn't care.

I wouldn't think about it like that. The miner takes all the risk with a fork in a proof-of-work economy. Sure, fork shenanigans and playing games with hashpower distribution could affect the markets in the short/mid term. But Bitmain would be the one taking the risk, because they are expending the energy to mine the coins. If no one wants to buy their forked coins, they've flushed a lot of money down the toilet. Users just need to be able to hold through all the shenanigans and price swings. They won't lose anything.

Now, if Bitmain and the major services/exchanges succeed in pushing most of the user base into a fork, we've got problems. Then I might start looking into other coins to invest in long term. But I think users will stay on the legacy chain, for the most part.

I agree on the part where you say that Bitmain is taking a risk but I think it's a risk they can afford. If it doesn't work out they will make some sort of loss but that won't ruin their business. The question really is, which chain will get the BTC ticker? If the legacy chain gets it we're good otherwise things could get ugly.

[Carlton Banks]

The question really is, which chain will get the BTC ticker? If the legacy chain gets it we're good otherwise things could get ugly.

Explain why.

(exchanges where there is any ambiguity as to which symbol means which coin will see their business suffer, the problem solves itself really)

[TheQuin]

The question really is, which chain will get the BTC ticker? If the legacy chain gets it we're good otherwise things could get ugly.

Explain why.

(exchanges where there is any ambiguity as to which symbol means which coin will see their business suffer, the problem solves itself really)

I don't believe it matters even to the exchange. Would you choose which exchange to use on the basis that they listed Bitcoin as XBT instead of BTC as already the case now? There is a very similar situation in futures trading where the same futures contract have different tickers depending on the data feed provider you are using. Traders just get used to whatever they use.
Once an exchange has implemented a coin it's very difficult for them to change the ticker, so the new coins will have to be given new tickers (eg. Bitfinex B2X) and the legacy coin will keep BTC or XBT.

[Carlton Banks]

[Once an exchange has implemented a coin it's very difficult for them to change the ticker, so the new coins will have to be given new tickers (eg. Bitfinex B2X) and the legacy coin will keep BTC or XBT.

That doesn't really explain proposed plans to change BTC to BC1 on one exchange (Coinbase i believe)


And my comment stands really: if any exchange changes what the BTC or XBT currency symbols represent, the precedent is set. No-one wants to re-read FAQs on a regular basis to see what Bitcoin is listed as this week/month, and those exchanges will get terrible customer feedback as a result. And then their customers will leave.

[TheQuin]

That doesn't really explain proposed plans to change BTC to BC1 on one exchange (Coinbase i believe)

I hadn't heard about that proposal, it seems a very strange decision to me.

And my comment stands really: if any exchange changes what the BTC or XBT currency symbols represent, the precedent is set. No-one wants to re-read FAQs on a regular basis to see what Bitcoin is listed as this week/month, and those exchanges will get terrible customer feedback as a result. And then their customers will leave.

Yes, I think we're agreeing here. It doesn't really matter what they call it but changing it is not good either from a technical perspective of implementing it (think of the historical database records) or from keeping your customers happy point of view.

[xFiber]

The question really is, which chain will get the BTC ticker? If the legacy chain gets it we're good otherwise things could get ugly.

Explain why.

(exchanges where there is any ambiguity as to which symbol means which coin will see their business suffer, the problem solves itself really)

I think it's too easy to say that the problem will solve itself.  If some exchanges hand the BTC ticker to the 2x chain people who are new to the space might be buying 2x coins instead of the legacy bitcoin. And I am not sure if that will be beneficial to the whole ecosystem.

[barabut]

Something strange is happening right now.
 I do not fully understand what yet but it seems some members of Pro-segwit2x group are publicly withdrawing their support for SegWit2x

Could this mean the hard fork won't be going on again? Seems they aren't too happy the way Bitcoin price is shooting up or it is just normal and expected withdraws?

Big discussion is going on and it is hard to say that everything is clear we need to stay thight and see what will happen in coming days. The price fluctuation is too much it might be possible to come back to lower levels