Bitcoin price rockets as big players renege on block size increase pledge

Source: Computer Business Review

“Following the subsidence of a proposed ‘hard fork,’ investors have rallied excitedly around bitcoin and sent it soaring towards $8,000 per unit. Bitcoin almost made it to $7,900 following the news that ‘SegWit2x’ would not in fact come into effect. The motion was halted by members of top bitcoin exchanges who believed the fork could have wreaked fatal damage. … The change would have brought about a currency that doubled the size of blocks on the blockchain that drives it, based on an intention to re-establish the digital currency as a truly decentralised option. Larger blocks would allow for more trades to be processed, making room for more people to engage in the trading of bitcoin.” [editor’s note: In English, the guys on one side — the big miners and exchange operators — got what they wanted and are now refusing to deliver on their pledge to give the guys on the other side — the USERS — what we wanted. The altcoin masquerading as “Bitcoin” will remain broken; real Bitcoin, now called Bitcoin Cash, is the way to go – TLK] (11/09/17)