Is Segwit2x a big deal? by chitty

bitcoin · @chitty · Nov 7 '17 (edited)

$18.02

Is Segwit2x a big deal?

> “During the month of November 2017, approximately 90 days after the activation of Segregated Witnesses in the Bitcoin blockchain, a block between 1MB and 2MB in size will be generated by Bitcoin miners in a move to increase network capacity. At this point it is expected that more than 90% of the computational capacity that secures the Bitcoin network will carry on mining on top of this large block. 
The upgrade to 2MB blocks has been agreed first during the Bitcoin Roundtable Consensus in Hong-Kong on February 2016, and then ratified by the Bitcoin Scaling Agreement in New York on May 2017. These agreements stipulate the activation of Segregated Witness support and an increase of the maximum base block size from 1MB to 2MB.” - [Segwit2x.github.io](https://segwit2x.github.io/segwit2x-announce.html)

Segwit2x argument is a power game, a stupid one if I may add, I don’t think that increasing the blocksize to 2mb is a bad thing, it will bring us lower fees, which is good right?

Don’t get me wrong I was a strong Segwit supporter on Litecoin and then Bitcoin, but we already have Segwit and there was an explicit agreement between “industry leaders” that if miners implemented Segwit, blocksize would be increased to 2mb in November 2017.

But this agreement got flushed down the toilet at some point by the Bitcoin Core team and they are now fighting and dividing the community over something that is really not that big of a deal.
https://media.giphy.com/media/3o6Zt1LtU7tTzPmxpe/giphy.gif

I suppose Core Developers could argue that they did not sign this agreement, however I expect everyone who did sign it, to follow through with their word and stop this stupid bout that has been going on for way too long. 


*NY Agreement Supporters:
•	1Hash (China)
•	Abra (United States)
•	ANX (Hong Kong)
•	Bitangel.com /Chandler Guo (China)
•	BitClub Network (Hong Kong)
•	Bitcoin.com (St. Kitts & Nevis)
•	Bitex (Argentina)
•	bitFlyer (Japan)
•	Bitfury (United States)
•	Bitmain (China)
•	BitPay (United States)
•	BitPesa (Kenya)
•	BitOasis (United Arab Emirates)
•	Bitso (Mexico)
•	Bitwala (Germany)
•	Bixin.com (China)
•	Blockchain (UK)
•	Bloq (United States)
•	btc.com (China)
•	BTCC (China)
•	BTC.TOP (China)
•	BTER.com (China)
•	Circle (United States)
•	Civic (United States)
•	Coinbase (United States)
•	Coins.ph (Phillipines)
•	CryptoFacilities (UK)
•	Decentral (Canada)
•	Digital Currency Group (United States)
•	F2Pool (China)
•	Filament (United States)
•	Gavin Andresen (United States)
•	Genesis Global Trading (United States)
•	Genesis Mining (Hong Kong)
•	GoCoin (Isle of Man)
•	Grayscale Investments (United States)
•	Guy Corem (Israel)
•	Jaxx (Canada)
•	Korbit (South Korea)
•	Luno (Singapore)
•	MONI (Finland)
•	Netki (United States)
•	OB1 (United States)
•	Purse (United States)
•	Ripio (Argentina)
•	Safello (Sweden)
•	SFOX (United States)
•	ShapeShift (Switzerland)
•	surBTC (Chile)
•	Unocoin (India)
•	Vaultoro (Germany)
•	Veem (United States)
•	ViaBTC (China)
•	Wayniloans (Argentina)
•	Xapo (United States)
•	Yours (United States)*

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@robert31 · Nov 7 '17

excellent post and good analysis in bitcoin.. good job @chitty... i like your post.

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@rudel · Nov 7 '17

great blog informative thanks for sharing

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@safrijals · Nov 7 '17

Sory friend. 
Help
https://steemit.com/animal/@safrijals/black-profit-spider-2017117t185339113z

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@suryanto · Nov 7 '17

That's the politics of people who have the authority of friends if I think but I salute you you can master like that. And can master about bitcoin sedetil details

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@boyasyie · Nov 7 '17

$0.03

how to your prediction of this ?. did I not people who watched it. but through your post I am so interested in it. but many posts on this explanation in pass through the video. it makes me not interested to follow. because I can not be the English language. I like the tour post.

👍 boyasyie

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@gryphon · Nov 7 '17

$0.06

[![photo_2017-11-07_15-38-39.jpg](https://s1.postimg.org/5vjfc9dkn3/photo_2017-11-07_15-38-39.jpg)](https://postimg.org/image/4w3bz3ath7/)
New day new high! Don't miss opportunity!
Best way to trade long #bitcoin  with high leverage on [BitMEX](https://www.bitmex.com/register/HJfZyC )

👍 gryphon

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@theguruasia · Nov 7 '17

$1.94

@chitty,
I think they might stop the drama! Otherwise in long term wise BTC will drop! BCH already made a loss on BTC and now they called another BTC as GOLD! I don't think community needs such thing! This is something we can call as a drama of top investors! Great article friend!

Cheers~

👍 chitty

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@black35 · Nov 7 '17

Outstanding perfomance for bitcoin...
Thank's for sharing

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@lrd · Nov 7 '17

I am not concerned wether Bitcoin value rises again or dips, as long as in the long-term it goes up we should be good to go.
Dips are opportunities, not disasters.

👍 lrd

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@buggedout · Nov 8 '17

$1.95

I tend to agree but a lot has changed since that agreement was struck. Bitcoin will continue to have these kind of divisive forks because of it's governance model sadly.

👍 flameburst, buggedout, chitty

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@petermail · Nov 8 '17

Well, it is great opportunity to make money. Only question I have is: Could SegWit2x overtake Bitcoin as the dominant cryptocurrency? I don't think so but it seems quite close to the value of Bitcoin.
https://goo.gl/PUFu7a

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