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Author Topic: [2017-12-27] Hard Fork, Take Two: SegWit2x Will Return Dec. 28, Says Founder  (Read 105 times)
CyberR.
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December 27, 2017, 06:15:16 PM
Last edit: December 27, 2017, 07:09:34 PM by CyberR.
 #1

Link to the article : https://cointelegraph.com/news/hard-fork-take-two-segwit2x-will-return-dec-28-says-founder

The controversial SegWit2x Bitcoin (BTC) hard fork will go ahead on Dec. 28, according to the project’s official website.

The SegWit2x project, which caused months of debate and infighting among the Bitcoin community prior to its last-minute cancellation in November, now says it will fork off at block 501451, due in around two days’ time.

The project’s Founder and Lead Developer, Jaap Terlouw, stated on their site that the fork aims to address issues of “commission and transaction speed within the Bitcoin network,” adding that currently, Bitcoin is “almost impossible to use as a means of payment.”

Confirmation that the hard fork will, in fact, take place is indicated both in the roadmap on the project’s site, as well as in a direct quote from Terlouw:

“Our team will carry out the Bitcoin hard fork, which was planned for mid-November.”

The founder also promised that in addition to the common practice of crediting BTC holders with equivalent balances of the new coin (B2X), they would also receive “a proportional number of Satoshi Nakamoto’s Bitcoins as a reward for their commitment to progress.”

In total, eight exchanges are listed as official supporters of the fork. The project’s roadmap includes features such as Lightning Network support, smart contracts and, ultimately, anonymous transactions.

Forking season
In the past six weeks, Bitcoin Cash, another Bitcoin hard fork formed in August, has become the central talking point of the industry, as it sees remarkable growth and sparks shifts in mining and investment behavior, affecting Bitcoin’s price.

The latest incarnation of SegWit2x has so far received comparatively little publicity. However, the website copy conspicuously name-dropped one particular exchange, HitBTC. Speaking about existing SegWit2x futures, Terlouw is quoted on the site as saying:

“At the same time, trading of its [SegWit2x] futures has been carried out on some exchanges for a long time. HitBTC is among them.”

When the project first saw hints of a comeback on Dec. 19, futures prices of B2X coins saw an uptick from under $200 to almost $600, a trend which has remained steady prior to the launch.

Meanwhile, on Christmas Day, a Blockchain Angel Investor debuted his own ‘version’ of Bitcoin, Bitcoin God (GOD), while several other forks are due to join the ecosystem in the coming weeks.

For BTC investors, a key appeal of new Bitcoin ‘versions’ or hard forks  is the duplication of their BTC holdings in the new coin at the time of each snapshot, which essentially provides them with a supply of “free money.”

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DooMAD
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December 27, 2017, 07:00:38 PM
Last edit: December 27, 2017, 07:26:20 PM by DooMAD
 #2

Firstly, here's the link to the article which was neglected:  https://cointelegraph.com/news/hard-fork-take-two-segwit2x-will-return-dec-28-says-founder

Secondly, Jaap Terlouw is not the "founder" of SegWit2x, he's merely the common thief that stole its name for his own worthless and unrelated shitcoin.

Thirdly, the article is dangerously misleading because it's not even remotely the same project and the article attempts to disguise this fact.  Some random people just decided to steal a name people would recognise for their own completely unrelated fork.  While it's true that the original SegWit2x was divisive to put it mildly, this completely different fork, with an entirely new dev team, should at least allow the community to come together in unanimous derision of what is clearly an awful concept.  Not only is it a quadrupling of the blockweight potentially up to 16MB, but also a quadrupling of the speed at which blocks are found, ~2.5 minutes.  Not only is calling it SegWit2x and act of theft, it's also entirely disingenuous in terms of the speed it could potentially bloat the chain.  

They also opted for adjusting difficulty every block, so clearly they don't believe they're going to attract any kind of significant hashpower for their shitcoin and had to take precautions.

And as contentious as the original SegWit2x was, they definitely weren't proposing stealing coins from keys that don't belong to them on the new chain.  One of the fundamental principles of Bitcoin is that only the owner of the private keys can move the coins.  If they advocate theft in this manner, anyone who would willingly still invest in this needs to get their head checked, as it might well be your coins they decide to steal next.  If you support setting the precedent that theft is okay, you deserve to lose everything you have.

I would strongly recommend everyone contacts their preferred exchange(s) and ask them to not list this shameless doppelganger, which could well be a complete scam.  

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December 27, 2017, 09:49:59 PM
 #3

@jgarzik has said he is not related to this fork. ANd other has say they are not too. I think this fork is just a scam and miners will not help this time. We see so many forks that are almost like the ICO of ethereum. People are just trying to get some money without any new idea.
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December 27, 2017, 10:03:27 PM
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I would strongly recommend everyone contacts their preferred exchange(s) and ask them to not list this shameless doppelganger, which could well be a complete scam.  

It's of no use. Exchanges nowadays are only interested in scooping up even more trading fees, plus that the first exchanges to list this garbage attract new people because they don't have any other option to dump than there. It's basically a win win situation for the exchanges being the first to list this garbage. It's more or less a situation where they fill up the demand from the general public, and the demand is definitely there when you see how noobs are going absolutely nuts just by the thoughts of their "free" money. Seriously, I haven't even unloaded my Bitcoin Gold coins, which if the price doesn't get pumped extremely at some point, they will never even move because it's simply not worth it. It's too much hassle to move my cold wallet funds and to create plenty of new backups, which is a process that might take hours in total. Bcash (I know Roger doesn't like that term Cheesy) was at least worth dumping at its highly inflated rates.

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December 28, 2017, 12:36:56 AM
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I would strongly recommend everyone contacts their preferred exchange(s) and ask them to not list this shameless doppelganger, which could well be a complete scam.  

It's of no use. Exchanges nowadays are only interested in scooping up even more trading fees, plus that the first exchanges to list this garbage attract new people because they don't have any other option to dump than there. It's basically a win win situation for the exchanges being the first to list this garbage. It's more or less a situation where they fill up the demand from the general public, and the demand is definitely there when you see how noobs are going absolutely nuts just by the thoughts of their "free" money. Seriously, I haven't even unloaded my Bitcoin Gold coins, which if the price doesn't get pumped extremely at some point, they will never even move because it's simply not worth it. It's too much hassle to move my cold wallet funds and to create plenty of new backups, which is a process that might take hours in total. Bcash (I know Roger doesn't like that term Cheesy) was at least worth dumping at its highly inflated rates.

since its money for everyone involved,exchanges included,I highly doubt informing anyone would help
also if this imposter makes his "hard fork" known through newspaper articles,then it says tons about the possible success of the resulting shitfork
in general,it will add up to the confusion,maybe even divert mining powers from mining bitcoins
and make the blocks even further in between,the creators of the shitfork will profit from it big time-money from thin air
others will happily get their free shitcoins and dump them
it looks like we are destined to get this fork madness going for quite a some time,dilluting the bitcoin supporters base and undermining stability
p.s. looks like this coin's futures are traded north of 1.000$

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December 28, 2017, 05:37:37 AM
 #6

It's not stated what are other exchanges will support for it and they merely have news about this one. I don't think this coin will bloom for me it's another shitcoin gaining only some money. They just ruin images of original Bitcoin.
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December 28, 2017, 09:16:00 AM
 #7

Bitcoin is still expanding and articles like this are extremely misleading for new people who don't know much about it.
For them, its "Free money" they get by merely holding their bitcoins. A win-win situation for both the networks that support this shitfork and people who want "free money".
These shitforks are only messing up the concept of cryptos for new people.
I just hope it doesn't affect the bitcoin mining pool, i don't think they are stupid enough to abandon bitcoin for this. unless they're exclusively paid for this, which i doubt.

"The project’s Founder and Lead Developer, Jaap Terlouw"
What? I wonder how lower could he go than calling himself founder of segwit2x
It's the same altcoin strategy, create shitcoins to fool people and get quick money outta nowhere.


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December 28, 2017, 01:40:44 PM
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Firstly, here's the link to the article which was neglected:  https://cointelegraph.com/news/hard-fork-take-two-segwit2x-will-return-dec-28-says-founder

Secondly, Jaap Terlouw is not the "founder" of SegWit2x, he's merely the common thief that stole its name for his own worthless and unrelated shitcoin.

Thirdly, the article is dangerously misleading because it's not even remotely the same project and the article attempts to disguise this fact.  Some random people just decided to steal a name people would recognise for their own completely unrelated fork.  While it's true that the original SegWit2x was divisive to put it mildly, this completely different fork, with an entirely new dev team, should at least allow the community to come together in unanimous derision of what is clearly an awful concept.  Not only is it a quadrupling of the blockweight potentially up to 16MB, but also a quadrupling of the speed at which blocks are found, ~2.5 minutes.  Not only is calling it SegWit2x and act of theft, it's also entirely disingenuous in terms of the speed it could potentially bloat the chain.  

They also opted for adjusting difficulty every block, so clearly they don't believe they're going to attract any kind of significant hashpower for their shitcoin and had to take precautions.

And as contentious as the original SegWit2x was, they definitely weren't proposing stealing coins from keys that don't belong to them on the new chain.  One of the fundamental principles of Bitcoin is that only the owner of the private keys can move the coins.  If they advocate theft in this manner, anyone who would willingly still invest in this needs to get their head checked, as it might well be your coins they decide to steal next.  If you support setting the precedent that theft is okay, you deserve to lose everything you have.

I would strongly recommend everyone contacts their preferred exchange(s) and ask them to not list this shameless doppelganger, which could well be a complete scam.  

No-one needs your help, this fork was dead on arrival. The real story here is you DooMAD: a massive hypocrite


When the "real" Segwit2X fork was planned to happen, anyone who pointed out any problems got an ear full of "hey man, can't you just let people decide on their own, like, it's a free market duuuuude" from you, DooMAD Roll Eyes

But now it's suddenly ok for you to disparage this scam-fork too? You constantly made as subtle an argument as possible in favour of Segwit2x (the "real" one, lol), and now you're all "they're steeeeeeeeeeeealing the naaaaaaaaaame :*( "

Cheesy

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December 28, 2017, 02:20:32 PM
Last edit: December 28, 2017, 06:33:05 PM by DooMAD
 #9

No-one needs your help, this fork was dead on arrival. The real story here is you DooMAD: a massive hypocrite


When the "real" Segwit2X fork was planned to happen, anyone who pointed out any problems got an ear full of "hey man, can't you just let people decide on their own, like, it's a free market duuuuude" from you, DooMAD Roll Eyes

But now it's suddenly ok for you to disparage this scam-fork too? You constantly made as subtle an argument as possible in favour of Segwit2x (the "real" one, lol), and now you're all "they're steeeeeeeeeeeealing the naaaaaaaaaame :*( "

Cheesy

I wouldn't expect an extremist like you to understand, but even moderates have their limits.  Setting the precedent that stealing coins is okay is wholly antithetical to Bitcoin.  You may have seen the original SegWit2x as an attack on Bitcoin, but everyone should see this as an attack on the very fundamentals of what Bitcoin should be.  It's a whole other level of controversy.

Some argued that doubling the blockweight was potentially excessive, but quadrupling it definitely is. And on top of that, the 2.5 minute target for blocks is ridiculous.  But if that's all they were doing, fair enough, go ahead and let people decide for themselves.  It's pretty obvious the market would say no anyway.  But stealing inactive coins too?  There is no market where theft is acceptable.  There are lines you don't cross.

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December 28, 2017, 03:10:43 PM
 #10

Anyone who thinks this is about blocksize should read this well-written essay.

https://medium.com/@thepiratewhocantbenamed/my-thoughts-on-your-thoughts-17474d800dda

It lays out pretty plainly why arguing for blocksize alone is a mistake. As for S2X-2, Shitforkia Revisited, its pretty plain to see its yet-another-fork-that-solves-nothing. Just like its predecessor, even if some parts are now different.

Read the medium post linked above, it is highly informative about the deeper technical reasons why "muh blocksize" is a distraction.

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January 02, 2018, 02:20:47 PM
 #11

Anyone who thinks this is about blocksize should read this well-written essay.

https://medium.com/@thepiratewhocantbenamed/my-thoughts-on-your-thoughts-17474d800dda

It lays out pretty plainly why arguing for blocksize alone is a mistake. As for S2X-2, Shitforkia Revisited, its pretty plain to see its yet-another-fork-that-solves-nothing. Just like its predecessor, even if some parts are now different.

Read the medium post linked above, it is highly informative about the deeper technical reasons why "muh blocksize" is a distraction.


We will see because there is Bitcoin Cash out in a live experimental phase and open to all scaling ideas that might work, but preferring the multy year proven on-chain tech.

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