Stick a fork in it; SegWit2x is back

Martin Young | December 27, 2017 | 6:57 am
Segwit second round

Stick a fork in it; SegWit2x is back

Martin Young | December 27, 2017 | 6:57 am

All the forking around in recent months has caused a lot of confusion, not to mention some unhealthy chart spikes for Bitcoin. However, according to the project’s official website, the controversial SegWit2x hard fork will go ahead on December 28. Months of infighting and debate were the result of SegWit2x which was originally planned to fork from BTC in November but was cancelled at the last minute.

Project leader, Jaap Terlouw, now says it will fork off at block 501451, which is due tomorrow at some stage. Confirmation that the hard fork will go ahead this time can be found on the project roadmap and on the website;

“Commission and transaction speed within the Bitcoin network has reached extraordinary values. It is almost impossible to use it as a means of payment. Our team will carry out the Bitcoin hard fork, which was planned for mid-November. At the same time, trading of its futures has been carried out on some exchanges for a long time.”

Traders tend to jump on the digital train in hope of getting the extra coin when the blockchain splits. It is likely to happen again this time with the founder promising 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 reality, it is down to the exchanges to honour this pledge and not all of them will. The project’s roadmap includes a number of upgrades and features such as Lightning Network support, smart contracts, and anonymous transactions.

The most successful fork in recent months has been Bitcoin Cash which advocates claim to be the real Bitcoin. Its epic rise in price has bolstered this view as it is now the third most popular cryptocurrency market capacity with just over $50 billion. BCH has climbed 900% since mid-October and is currently trading around $3,000.

Forks have been plentiful in the past couple of months and there is now Bitcoin Gold, Bitcoin Diamond, Bitcoin God, and Bitcoin Plus. There could be a lot more to come adding to the Bitcoin bewilderment such as; Bitcoin Silver, Bitcoin Uranium, Bitcoin Platinum, Bitcoin Cash Plus, Lightning Bitcoin, and Super Bitcoin. Is it any wonder that many of us are getting a little forked off!

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  • Alex Pundit [LTC] [XVG]

    Can someone tell me then how you claim the Segwitx2 coins?

    • GuitZ

      i don’t know exactly, but for security reason, move your bitcoin to change the private key and then try to get your B2X with your old private key

      • Greg

        If you did that before the fork, you would have zero in the old wallet.

    • Jonathan David

      For bitcoin cash on Coin base is was done automatically if you coins were in the right place, I think it must be in their hot wallet?? But I really don’t know for sure! …please if you find out first report back???

  • makeit
  • Nedam ti

    what about btc from paper wallet. can they be used to claim new coins?

  • Aldo Tabone

    Why x11 Algo??? to sell more antminers D3 from Bitmain? If you think that these forks are doing good for BTC its not…

  • Russell Bruce

    Anyone look into the bee token? Blockchain-powered Airbnb with zero commissions. Worth looking into.

  • CK Marshall

    No it’s not back on. This article is fake news.
    The forker is just using the same Segwit2x name to con people.
    Did they pay you to write this? Just like they did with other websites.

    • Josh Pickens

      Where did YOU get your info from?

  • Wei Feng

    Is it best to support them taking satoshi’s coins when we get some as well for supporting it?

    • Sheldon Irving

      satoshi coins are being forked out?
      or hes being forked out of his coins, if this fork takes over btc 🙁

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