Bitcoin, Cryptocurrency And Blockchain News

Return of SegWit2x – but Is it Legit?

Surprise hard fork takes many by surprise


Historically speaking, hard forks from Bitcoin have had a chequered past. Bitcoin Cash has done alright – granted – but Bitcoin Gold has been beset with hacks, delays and accusations. Others have simply failed to even make a ripple in the crypto-ocean. SegWit2x though, didn’t even get off the ground. The problem with drawing on the consensus of large amounts of people, is that a consensus may not be reached. And with SegWit2x, it wasn’t. But now we’ve got SegWit2x 2.0, seemingly out of nowhere, people are understandably suspicious.

Raising Eyebrows

Not only is the team of developers completely different from the team that worked on the doomed version of SegWit, but it would appear that futures are already somehow available on some exchanges. They are also claiming to have 2 million B2X coins available, which were premined by none other than Satoshi Nakamoto himself. The developers released a statement via the website, saying:

Satoshi Nakamoto’s Bitcoin [BTC] will be mined and distributed proportionally to all Bitcoin holders on the crypto-exchanges and wallets of our partners (2 mln). There will be no additional pre-mining!

However, the GitHub repository shows that there are actually 6 million coins. This has raised a few alarm bells, with some claiming that this proves that this will be a pump-and-dump scheme. Indeed, some of the best-known wallets – Trezor, for example – are refusing to acknowledge or support the new Segwit, declaring outright that it looks like a scam.

The supposed fork took place at block 501451, and the SegWit Twitter is convinced that everything has been a massive success so far. But is any of it real? It certainly wouldn’t seem sensible to part with your funds so hastily at this point.

Is the “new SegWit” a scam? What do you predict for this supposed new hard fork? Let us know in the comments!