Bitcoin Segwit2x Hard Fork Cancelled

Bitcoin price soars after avoiding split


BEAM Team

9 Nov, 2017

Bitcoin Segwit2x Hard Fork Cancelled | BEAMSTART News

- From our Sponsors -

The leaders of a highly controversial Bitcoin software update are discontinuing their effort to increase the standard block size, from 1MB to 2MB, through a hard fork.

The plan, coined Segwit2x, or '2x', was to activate the increase at block 494,784, anticipated to take place around November 16th. The objective of the proposal was to amplify the capacity of Bitcoin's transactions capacity, which is constricted due to current system's rules.

Related: Create awareness & reach out to more people  

The discontinuation was publicized in an e-mail drafted by one of the head of the Segwit2x project, Mike Belshe, CEO and co-founder of BitGo. He stated that the entire project was too controversial to proceed.

He wrote:

" Unfortunately, it is clear that we have not built sufficient consensus for a clean block size 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."
"Until then, we are suspending our plans for the upcoming 2MB upgrade," he added.

The note was also signatured by initial backers of the hard fork, devised at an infamous meeting called the 'New York Agreement' in May, which includes Bitmain's Jihan Wu, Bloq's Jeff Garzik, Blockchain's Peter Smith, Shapeshift's Erik Voorhees and Xapo's Wences Casares.

However, the group stated that it still expects the block size to be increased in the future, only if more stakeholders could agree to it.

Related:

- From our Sponsors -

Latest Jobs

Founding engineer

Upshift

North Carolina,

Full Time

USD 120000 — USD 250000 yearly

Senior Product Engineer, AI Agents

Amplitude

California,

Full Time

USD 203000 — USD 305000 yearly

Summer 2026 ML Systems Intern

Partcl

California,

Internship

USD 6000 — USD 10000 yearly

Pearson Labs: Full Stack Engineer

Pearson Labs

California,

Full Time

USD 120000 — USD 150000 yearly

Associate Account Executive

DeepSource

California,

Full Time

USD 140000 — USD 180000 yearly

DevOps/Infrastructure Engineer for Robotics - San Francisco

Polymath Robotics

California,

Full Time

USD 120000 — USD 200000 yearly

Design Engineer, iOS - React Native

Slash

California,

Full Time

USD 175000 — USD 250000 yearly

Technical Lead, Frontend

Onyx

California,

Full Time

USD 200000 — USD 400000 yearly

Frontend Engineer

Fern

New York,

Full Time

USD 170000 — USD 210000 yearly

BEAMSTART is a hub for everything Startups, Entrepreneurship, and Innovation. Connect with a global community of people, and stay updated with the latest startup jobs, news, and discussions.

 
© 2016 - 2025 BEAMSTART. All Rights Reserved (Legal).