A warning to newbies about a potentially fraudulent fork

[DooMAD]

I would like to warn users of a new project, masquerading under the name "SegWit2x", but wholly unrelated to the original SegWit2x proposal.  None of the original developers of the real SegWit2x are involved.  It would appear they just stole a name people recognise in order to get attention.  This new project makes sweeping and potentially reckless changes to the codebase.  Changes which could potentially be damaging to the the entire community if people lend it an air of legitimacy.

If stealing the name itself wasn't suspicious enough, it also appears to facilitate the theft of coins from private keys that don't belong to them on this new chain, in order to give those coins to users to incentivise adoption.  They even try to justify it on their website:

In addition, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support hardfork!

By “Bitcoin of Satoshi Nakamoto” we mean what the founder and chief developer of Bitcoin BTC mined at the time of zero network activity. They will be credited to the crypto-exchanges and wallets of our partners gradually. The list of partners will be constantly updated on our website! Even if Satoshi Nakamoto wants to get B2X for his pre-mining, he is not able to do this, as we blocked the initial blocks for conversion to Bitcoin Segwit2X.

It is worth noting that this present to users who supported us will be credited some time after the basic conversion 1:1

Stealing other peoples' money in this manner is not okay.  We cannot allow such a dangerous mindset to flourish.  That is categorically not how Bitcoin is supposed to work.

Again, be wary of anyone using the name "SegWit2x" if they're talking about this fork.  The developers of this new project seem morally questionable at best.  At worst, it could well be an outright scam.  Be vigilant.  Do not, under any circumstances, import any private keys into their client until people have had an opportunity to evaluate the code and deem it safe to use.

[mk4]

+1

Name is used probably because a good number of people already heard of the SegWit2x fork(which was cancelled), hence the unaware might think this is the same project, and think that this fork has a chance to compete with Bitcoin(BTC) and BitcoinCash(BCH).

I'm not going to immediately come to conclusions if the devs actually has good intentions or just a fork and dump, but it is quite fishy.

EDIT: Their "team" only consists of 3 people. 🤔 source: http://b2x-segwit.io

[zipperhead]

Thank you for that.
That's what I do not like about bitcoin. Too much flacutation, some FUD and a lot of uncertainty.
I know good investors say one should keep a portion of their portfolio in BTC but... I am a much bigger fan of ETH and only less than 1/10 of my small investment is in BTC and it makes me nervous, especially now that I expect BTC-ETH price to start rising to ETH advantage ... just a speculation...

[aplistir]

If stealing the name itself wasn't suspicious enough, it also appears to facilitate the theft of coins from private keys that don't belong to them on this new chain, in order to give those coins to users to incentivise adoption.  They even try to justify it on their website:

In addition, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support hardfork!

By “Bitcoin of Satoshi Nakamoto” we mean what the founder and chief developer of Bitcoin BTC mined at the time of zero network activity. They will be credited to the crypto-exchanges and wallets of our partners gradually. The list of partners will be constantly updated on our website! Even if Satoshi Nakamoto wants to get B2X for his pre-mining, he is not able to do this, as we blocked the initial blocks for conversion to Bitcoin Segwit2X.

It is worth noting that this present to users who supported us will be credited some time after the basic conversion 1:1

Stealing other peoples' money in this manner is not okay.  We cannot allow such a dangerous mindset to flourish.  That is categorically not how Bitcoin is supposed to work.

Quite a blunt way of "stealing" coins.
They could have done it in a way that would not have annoyed so many people. Eg. Saying that ALL coins that are not claimed in one year will be taken to better use
Giving everyone a possibility to claim their coins would make finding reasons to complain more difficult. And it would also have  resulted in lots of more coins to "steal"

Interesting to see how they are going to recognize Satoshis coins from similar old untouched coins. I have read theories about the Satoshi-pattern that shows Satoshis coins. Are they using those as a base?  

EDIT: Their "team" only consists of 3 people. 🤔 source: http://b2x-segwit.io

And those 3 persons are going to be very rich if this succeeds even partially

[thepr0digy21]

There’s a lot of sponsored articles as well from a lot of well known crypto news groups. This thread has got to get to the masses...

[TonyAmoIta]

Thank you for your warning  .

[exstasie]

I would like to warn users of a new project, masquerading under the name "SegWit2x", but wholly unrelated to the original SegWit2x proposal.  None of the original developers of the real SegWit2x are involved.  It would appear they just stole a name people recognise in order to get attention.  This new project makes sweeping and potentially reckless changes to the codebase.  Changes which could potentially be damaging to the the entire community if people lend it an air of legitimacy.

It's funny, because all of your arguments apply to the original Segwit2x proposal. Segwit2x was unrelated to Segwit. No Core or Segwit developers were involved. They just stole the name for recognition, while making potentially reckless changes to the codebase.

Again, be wary of anyone using the name "SegWit2x" if they're talking about this fork.  The developers of this new project seem morally questionable at best.  At worst, it could well be an outright scam.  Be vigilant.  Do not, under any circumstances, import any private keys into their client until people have had an opportunity to evaluate the code and deem it safe to use.

It's probably a scam. Each of these forks has less legitimacy than the previous one. I could barely be bothered to claim my BTG, let alone these latecomer forks.

Any thoughts on Garzik's new fork, "United Bitcoin?" Apparently they plan to steal Satoshi's coins as well.

[goskins447]

Thanks for the info   As a newbie to all this, I have a hard time processing all these forks.  I have a very small amount of BTC on Binance, and I noticed that they will distribute forked coins for the ones that seem to be legit.  Is there a reliable way to find out about all of the forks?  Not just Bitcoin, but of some of the altcoins?  Sorry if I am asking something already discussed.  Like I said, it's all new to me!  Thanks!!

[DooMAD]

I would like to warn users of a new project, masquerading under the name "SegWit2x", but wholly unrelated to the original SegWit2x proposal.  None of the original developers of the real SegWit2x are involved.  It would appear they just stole a name people recognise in order to get attention.  This new project makes sweeping and potentially reckless changes to the codebase.  Changes which could potentially be damaging to the the entire community if people lend it an air of legitimacy.

It's funny, because all of your arguments apply to the original Segwit2x proposal. Segwit2x was unrelated to Segwit. No Core or Segwit developers were involved. They just stole the name for recognition, while making potentially reckless changes to the codebase.

Perhaps, but there's still a difference between using a similar name and exactly the same name.  Plus there are varying degrees of recklessness.  Doubling the base blockweight to 2MB with a total of 8MB might have been overdoing it a little, but quadrupling it and also quadrupling how fast blocks are found is just ridiculous.  I'm going to dub this fork SegWit32x, because at least that sounds somewhat more authentic in regards to how quickly it could potentially bloat the chain in comparison to Bitcoin.

Any thoughts on Garzik's new fork, "United Bitcoin?" Apparently they plan to steal Satoshi's coins as well.

Yeah, that can crawl into a hole and die too.  If that's going to be a trend from now on, it's going to get really annoying.  I'd rather we nip that shit in the bud now before too many idiots decide they like the idea.  It's one of the basic fundamentals.  Tamper-proof ownership, irreversible transfers, no "trusted" central entities reallocating funds and, most important of all, only those with access to the private keys can move those funds.  Anything that promotes the theft of coins is an affront to crypto.

[covfefe_]

Yeah. I too got confused about it. The Segwit2x had cancelled their plan of fork as they wanted it to happen with bitcoin not to create another one.
I was off from the fourm for about a month and suddenly I see another forked coin by the name segwit2x. I did tried to search about the origin of that particular fork but had no proper resources as almost all reference were led to cancelled segwit2x fork.