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    November 9, 2017

    BitPico vows to fork Bitcoin, undertakes to issue SegWit2x fork

    bitpico bitcoin segwit2x fork

    BitPico – a previously unknown development group – has now threatened to fork Bitcoin as the previous SegWit2x proposal failed to draw consensus.

    Though Bitgo Mike Belshe has revealed that the planned Bitcoin fork that would have introduced a holistic update to SegWit2x has been cancelled thanks to a lack of community consensus, a development team named BitPico has threatened to execute the fork regardless.

    Read: Bitcoin’s SegWit2x fork is cancelled, thanks to insufficient support

    Writing from an iCloud email address, the entity has promised its intent to fork Bitcoin in line with the original vision that would have increased the Bitcoin Blockchain’s block size to two megabytes, up from one megabyte.

    BitPico’s message reads as follows:

    “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…

    Sent from my Space Ship”

    BitPico has claimed the backing of 30% of hashrate – though this may not be accurate. Entrepreneur Tuur Demeester is one voice among many who have claimed that the move could simply be a hoax:

    The move might simply be a hoax message, or could indicate a rallying cry to other entities to proceed with the fork as previously planned. Should the latter prevail, it remains uncertain how much support BitPico could muster.

    Though the Bitcoin market has seemingly exhaled a sigh of relief – rocketing up by some $500 USD once the fork was canceled before settling – reactions thus far have been mixed.

    Roger Ver’s Bitcoin.com has announced that it would deal only with Bitcoin Cash in future, despite confusion that has arisen out of the website’s pre-fork name.

    bitcoin.com statement

    Coinbase has clarified that it is continuing to monitor the 2x update and that it would provide further comment within the coming days.

    Read: Bitcoin Gold begins issuing daily updates, introduces replay protection

    What are your thoughts? Be sure to let us know your opinion in the comments below!

    Follow Bryan Smith on Twitter: @bryansmithSA

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