SegWit2x still possible?

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

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.

Israel will reveal the status of cryptocurrencies in the next six months

Now in Israel people should make their decision on Bitcoin and it will be claimed soon
20 November

 

Israeli Ministry of Finance announced they will do some research on Bitcoin and cryptocurrency together with accounting firms.

This decision came from meeting initiated by Finance Minister Moshe Kahlon. At the meeting they realized Israel wasn’t prepared to accept cryptocurrency.

We are leading this with the minister and very happy to see he is all for it. The committees will begin their operations very fast. In my opinion, we will see results on the ground in up to six months.

 

Moshe Hogeg, Israeli serial entrepreneur.

The situation with uncertainty on Bitcoin mentioned above created a lot of trouble for businessmen and users on cryptocurrency.

For example, in June Tel Aviv district court announced that banks may reject Bitcoin ventures because of the inability to verify the KYC and AML. Also Israeli Tax Authority decided that if Bitcoin is not a legal currency, the sales of BTC will hurt adoption.

Although not everyone supports the recommendations of researchers. In Israel there is at least one high-ranking placeman who is convinced in pernicious impact of cryptocurrencies for economy and many share his view.

The Head of Israel Securities Authority (ISA) expressed his opinion that Bitcoin and ICOs should be strongly regulated. ISA instituted its own committee to assess regulations on Bitcoin and other cryptocurrencies.