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   1826

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 Need More Info on BTC ETF

SEC is gathering more input from the public – to date, according to the agency, more than 1,400 comments have been submitted
21 September 2018   134

The US Securities and Exchange Commission (SEC) announced the beginning of a formal process for considering the application for the creation of bitcoin-ETF from the New York companies VanEck and SolidX. Nevertheless, the agency appealed to the community for more information. This is stated in the document published on the SEC website.

Institution of such proceedings is appropriate at this time in view of the legal and policy issues raised by the proposed rule change. Institution of proceedings does not indicate that the Commission has reached any conclusions with respect to any of the issues involved. Rather, as described below, the Commission seeks and encourages interested persons to provide comments on the proposed rule change.
 

The US Securities and Exchange Commission

At the moment, the SEC received about 1,400 comments.

According to the document, the Chicago Board Options Exchange (CBOE) has signed an agreement on the exchange of data on bitcoin transactions, trading and the state of the market with the cryptocurrency trading platform with Gemini.

The agency asked commentators to clarify the position of Gemini in the digital currency market and assess the likelihood of increased volatility at this site in connection with possible trades of bitcoin-ETF.

So, before September 30, the department had to decide on whether to approve, deny or initiate the proceedings. The SEC chose the latter, which is likely to delay the process until the next year.