Bitcoin fork SegWit2x cancelled

Co-founder of Bitcoin wallet software provider BitGo announced suspension of higly anticipated Bitcoin fork SegWit2x
08 November 2017   2036

On November 8, Mike Belshe, one of the leaders of the Segwit2x project and CEO and co-founder of Bitcoin wallet software provider BitGo announced in an email that Bitcoin fork SegWit2x is currently being suspended. The fork was expected to occur sometime in November 2017.

The aim of the project was an upgrade of Bitcoin, though the developers of the project state that the current aim they posses is keeping the community together. SegWit2x was not higly supported by miners and exchanges, for instance SurBTC left SegWit2x agreement in October, and Charlie Lee, Litecoin creator, announced his rejection of the fork. Moreover, crypto specialist and researcher Nick Szabo posed himself as an opponent of SegWit2x too.

Unfortunately, it is clear that we have not built sufficient consensus for  a clean blocksize upgrade at this time. Continuing on the current path  could divide the community and be a setback to Bitcoin’s growth. This was never the goal of Segwit2x.

Mike Belshe

BitGo Inc., CEO 

The announcement was signed by CEO and co-founder Mike Belshe, mining pool Bitmain co-founder Jihan Wu, Xapo CEO Wences Casares, Bloq CEO and co-founder Jeff Garzik, Blockchain CEO and co-founder Peter Smith and Shapeshift CEO and founder Erik Voorhees.

A long-awaited Bitcoin fork SegWit2x was aimed at the increase of size of block 494784 to 2MB and improving Bitcoin scalability.

Bitcoin charts november 2017Bitcoin Charts

It is worth mentioning that Bitcoin price rose immediately after the announcement had been made, rising by almost 5% in one hour from $7484 to $7776, but then started falling down and at the press-time is traded at $7639 having market capitalisation of $127 billion.

Karpeles to Face Another 10 Years in Jail

Japanese enforcements agencies blamed Mt. Gox CEO in stilling $3M
12 December 2018   94

Japanese prosecutors blamed the head of the already inactive exchange Mt. Gox Mark Carpeles in embezzling 341 million yen ($ 3 million) from a bank account trading platform. The prosecutors made the corresponding statement in the Tokyo District Court, demanding 10 years of imprisonment for Karpeles, reports The Mainichi.

[Mark Karpeles] diverted company funds to such uses as investing in a software development business for personal interest" and "played a great role in totally destroying the confidence of bitcoin users.

Japanese prosecutors

It is noted that in September-December 2013, the head of MtGox allegedly transferred funds to personal bank accounts, and then invested in the software development business.

Carpeles is also accused of faking the data of the trading system of the exchange for the fabrication of balance sheets.

The deadline for accepting applications from affected investors as part of the civil rehabilitation of Mt. Gox has been extended until the end of December.