SegWit2x still possible?

BitPico mining pool is going to implement SegWit2x hardfork; let's figure out, can they really realize their plans
10 November 2017   2505

The little known bitPico Mining Pool stated that, contrary to the statement on the refusal of the SegWit2X hardfork, it is intended to implement it. Also bitPico states that it controls about 30% of the bitcoin network hashrate.

We are carrying out the fork regardless as everything is set in motion. Backing down the difficulty right now is a strategy. Wonder why 30% network hash-rate disappeared? It’s ours; the miners that will continue what is set in motion... A handful of humans cannot stop what they have no control over...
 

BitPico statement

From the bitPico statement it follows that the pool is allegedly responsible for reducing the hashrate of the bitcoin network by doing it intentionally in order to reduce the complexity of the mining and simplify the block generation.

Bitcoin Hashrate and Difficulty
Bitcoin Hashrate and Difficulty

At the moment it is not clear who exactly stands behind the bitPico and whether this pool actually exists. So, a number of people on the web notes that a simple search on Google shows that even before September nothing was known about the pool with this name.

Also, there is no evidence that the pool actually controls 30% of the network hash. The last post in Twitter BitPico is dated October 27th.

We can not exclude the possibility that SegWit2x futures traders may be behind the bitPico, concerned about the high probability of losing funds as a result of the futures price drop. Since yesterday's announcement of the refusal to implement hardfork, their price has fallen by more than 70% and at the time of publication is $ 287.

SegWit2x futures price chart
SegWit2x futures price chart

Even assuming that the bitPico statements are true, and SegWit2X will be conducted, controling a 30% of Bitcoin hashrate does not give a chance that the new chain will be able to be bitcoin.

It should be noted that while a significant part of the community welcomed the decision to abandon SegWit2X, a number of industry representatives, such as Coinbase, said they continue to monitor the situation.

Bitcoin community expressed skepticism about this situation.

SEC to Start VanEck-SolidX BTC-ETF Consideration

Starting today, the 45-day countdown to the SEC initial decision was launched
20 February 2019   98

For the first time since August of last year, two proposals on the creation of a Bitcoin-ETF are under consideration by the US Securities and Exchange Commission (SEC).

The application of VanEck and SolidX, issued in cooperation with the Cboe BZX exchange, as expected, was included in the Federal Register issue this Wednesday, with which the 45-day countdown to the SEC initial decision was launched. The application of Bitwise Asset Management and NYSE Arca was published last week.

I … hope that our investment in regulatory and market education, hard work and commitment will be honored when the time comes.
 

Gabor Gurbacs

Director of digital asset strategy, VanEck

The head of Bitwise’s research department, Matt Hogan, believes that not only firms that have submitted bids to create Bitcoin-ETFs are looking for approvals, but and the entire “extremely fast-growing” crypto industry.

A year ago there was maybe one qualified crypto custodian … and now there are half-a-dozen, and that number will go up from here. A little more than year ago, we didn’t have futures. A year ago we didn’t have nearly as many firms making markets. A few months ago, you didn’t have folks like Fidelity announced in the space. It’s evolving really, really quickly.
 

Matt Hougan

Global head of research, Bitwise

 As reported, ultimately, however, a bitcoin ETF approval will depend on how companies approach their proposals.