Why bitcoin fork cancel?

[iamteody]

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

[TimtheYoutuber]

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

[Sanglotslongs2]

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

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

[J_Dubbs]

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.

[iamteody]

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

[gamerfan]

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 $.

[veeev]

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

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

[bitart]

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 $.

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...

[Pleione527]

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.

[anelenaniku]

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.

[Yakamoto]

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

[joinfree]

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.

[Tankdestroyer]

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.

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.

[VanDeinsberg12]

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

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

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.

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.

[MiningSensei]

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.

[Shreek]

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.

[Raimy]

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

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

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.

[CrypticGambit]

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

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

[Yaunfitda]

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

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.

[Babu_Moshai]

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