No one likes a forced Hard Fork: SegWit2x Update

Apparently some people can’t take no for an answer, BitPico, a rather peculiar individual or group of individuals have vowed to still proceed with the Segwit2X hard fork. They are proposing to do this despite the push back from the community at large and a decision reached by the leaders of the community, yesterday, to not go through with the plans of the SegWit2x hard fork.

Their bold and defiant message was sent on the segwit2x mailing list, stating that they controlled about 30% of the BTC network hashrate and so they will be going forward with the SegWit2x hard fork anyway.

BitPico believes that everything was set for the hard fork to proceed and so greatly objects to the cancellation. A portion of the message sent to the mailing list reads “backing down the difficulty right now is a strategy. Wonder why 30% network hash rate has disappeared? It’s our; the miners will continue what is set in motion. A handful of humans cannot stop what they have no control over.”

The handful of humans that this memo alludes to may be “Mike Belshe, Wences Casares, Jihan Wu, Jeff Garzik, Peter Smith and Erik Voorhees” the people who signed off on the announcement the other day to call off SegWit2x.

Who is BitPico ?

Remember, that to the best of our knowledge, BitPico did not sign the NYA (New York Agreement) which was what set the hard fork in motion.

Next, Bitpico stated that they had a holding of 1.72% of the total hashrate and that they were set to add 3-4% by Octobers end. Now, they claim that they own 30%. How could it be possible for them to have increased their possession by more than 20% in such a short amount of time? It doesn’t seem plausible.

It may just be a price manipulation ploy.

The threat matters only if that statement that they control 30% of the bitcoin hashrate and have actually made it disappear, is in fact true. No one has stepped forward and released any information as to who this person or who this group of people are. This makes what they are saying less believable.

One observer noted that there was no existence of the entity BitPico prior to the month of September 2017

What we know for a fact is that the cancellation of SegWit2x has produced two parties, those who have gained and those who have lost. The latter group would include those who were scooping up B2X futures. Yet, to their dismay, they saw these futures crash significantly upon the cancellation announcement.

The core developers in this project does not seem to be affiliated in anyway to BitPico, so it may just be someone who has lost a good amount of capital due to the announcement of cancellation and wants to vent and fight back in a way. It may simply be someone who’s bark is much worse than their actual bite.

Yet, we’ll wait and see what these next few hours and days have in store and report back.

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By | 2017-11-10T01:02:13+00:00 November 10th, 2017|Cryptocurrency News|0 Comments

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