Official News 09.11.2017 Bitcoin to Remain Undivided: Segwit2x Hard Fork Cancelled

Discussion in 'MMM Global - English' started by MMM Global Support Team, Nov 10, 2017.

  1. MMM Global Support Team

    MMM Global Support Team Administrator

    Dear members! Bitcoin will not be split into 2 chains. It will remain undivided and continue on its current course of development. This was communicated in the joint official address by the Segwit2x lead developer, Jeff Garzik, and other leading advocates of the hard fork. They have dropped this idea.

    Former advocates of Segwit2x stated that their aim was scalability improvement and they never wanted to split the Bitcoin or hinder its growth and full-scale development. Therefore, they have renounced the idea until the entire Bitcoin community agrees unanimously on the need for such improvement.

    It's safe to say that the Bitcoin community has scored another victory! Congratulations! The Bitcoin will preserve its integrity and continue its steady development. The news was followed by a surge of the leading cryptocurrency's price into a new all-time high of USD 7,899. The price has now consolidated, but it will most certainly continue to rise very soon and will break new important records. Therefore, don't hesitate to use bitcoin within MMM and continue to build the new future!

    For those who are not aware of the Segwit2x issue:
    • After Segwit was successfully activated in the end of summer, a group of developers continued their work on Bitcoin scalability improvement and wanted to increase the block size two-fold in November.
    • However, at this stage it would entail certain risks, and leading Bitcoin developers refused to support the idea. It resulted in divided opinions on scalability improvement.
    • Leading Bitcoin developers and the team of Segwit2x developers backed by supporters on both sides engaged in a discussion. The former renounced the idea of scalability improvement while the latter insisted on going through with it.
    • If Segwit2x had taken place, it would have resulted in a hard fork, i. e. Bitcoin would have been split into 2 chains. Moreover, it would have been the most large-scale hard fork ever that would have brought the Bitcoin community to the brink of a split-up and would have divided Bitcoin into 2 types.
    • It would have even compromised use of the BTC code for Bitcoin as well as operation of multiple wallets, exchanges and platforms as there had been much discussion as to the authenticity of this or that Bitcoin chain. Additionally, it would have entailed a lot of other risks, including those of a serious price crash, erroneous transfers between the chains and unstable operation of the two networks. Now that there's only one true Bitcoin left, it's going to be just fine. Therefore, once again — congratulations!
    Best regards,
    MMM Administration
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