GBMiners stops signaling for SegWit2x

According to Charlie Lee, GBMiners - a major mining pool operator - has stopped signaling for the SegWit2x 
28 October 2017   2512

Charlie Lee, the Litecoin creator, is known as one of the most honest developers in the cryptocurrency world. Indeed, he never shies away from any discussion on the hottest topics with the public. 

As we all know, Lee is not the biggest fan of the SegWit2x proposal. The man even has a particular tag in his nickcname on Twitter - [NO2X]. 

I am against Segwit2x hardfork in November due to 3 reasons: lack of urgent need, lack of replay protection, lack of consensus.
 

Charlie Lee
Litecoin creator

On October 27, Charlie Lee revealed that GBMiners, a major mining pool operator, has stopped signaling for the SegWit2x hard fork expected to occur in mid-November.

Former Coinbase executive considers this move to be the prove of the insolvency of SegWit2x. 

It is also noteworthy, that earlier this month, F2Pool and Slush Pool, stopped signaling for the SegWit2x hard fork as well. Now, they seem to be skyrocketing.

Pools' hashrate list
Pools' hashrate list

With the withdrawal of support from F2Pool and GBMiners, the hashrate support for the SegWit2x hard fork in November has declined from 83.28% to around 66%.

US Authorities to Pop BTC Buble, - Giancarlo

According to the former head of the U.S. Commodity Futures Trading Commission, the launch of the Bitcoin futures at CME popped the BTC price bubble
23 October 2019   33

Former head of the CFTC, Christopher Giancarlo made a sensational admission, saying that the launch of the Bitcoin futures on the Chicago Mercantile Exchange (CME Group) was a deliberate action by the Donald Trump administration, designed to burst the cryptocurrency market that had formed by then.

One of the untold stories of the past few years is that the CFTC, the Treasury, the SEC and the [National Economic Council] director at the time, Gary Cohn, believed that the launch of bitcoin futures would have the impact of popping the bitcoin bubble. And it worked.
 

Christopher Giancarlo

Ex-head, CFTC

Chicago Mercantile Exchange (CME) Bitcoin Futures was launched on December 18, 2017. The day before, the price of bitcoin reached its historical maximum in the region of $ 20,000, but over the next months it went down sharply.

On Monday, Giancarlo also spoke at the Pantera Summit in San Francisco, where he stated that the rapid rise in bitcoin prices observed at the end of 2017 marked the formation of the first major bubble after the 2008 financial crisis.

We saw a bubble building and we thought the best way to address it was to allow the market to interact with it.
 

Christopher Giancarlo

Ex-head, CFTC

Giancarlo also believes that the Bitcoin bubble cannot be considered in isolation from the 2008 financial crisis.

Coming out of the 2008 financial crisis, the legit criticism of regulators was along the lines of: Where were they during the expansion of the real estate mortgage bubble, and why didn’t they take steps to pop that bubble when they could have?
 

Christopher Giancarlo

Ex-head, CFTC

According to him, the lessons of history forced regulators to act quickly,

I believe it shows the power of markets to bring discipline to pricess.
 

Christopher Giancarlo

Ex-head, CFTC

Christopher Giancarlo resigned as CFTC chairman in April this year. Earlier this week, current department head Heath Tarbert said that regulated futures for Ethereum will also appear within six months or a year. He also does not rule out the launch of derivatives on other cryptocurrencies.