RE: Bitcoin (BTC) Evening Update: Higher Highs Towards $10,000
JUST GOT THIS IN MY EMAIL
Dear GDAX Customer,
There have been a number of developments with Bitcoin Segwit2x since our last update.
Last week, the Segwit2x development team announced they would no longer continue with the project. In addition, a significant portion of miners and other community leaders withdrew their support for the fork. However, despite these developments, a small number of miners may attempt to go forward with a fork.
We wanted to provide clarity about the potential outcomes of the fork and what GDAX will do in each scenario. In both scenarios, GDAX will disable bitcoin deposits and withdrawals 6 hours before the fork, at approximately 2am Pacific Time on November 17. Bitcoin (BTC) trading will not be impacted. Deposits and withdrawals will be re-enabled shortly afterwards.
Scenario 1: network is unusable
If support for the fork remains at current levels, or decreases, there will not be a functioning Bitcoin2x network. GDAX will not support withdrawals or trading as it will be impossible to send funds to GDAX, or withdraw funds from GDAX. Currently we believe this is the most likely scenario.
If the network gains support at a later date, we will enable Bitcoin2x withdrawals from the platform.
Scenario 2: network is usable
If transactions are being confirmed at a reasonable speed, and miner support is strong, we will allow GDAX customers to withdraw Bitcoin2x. We will not enable trading as previously stated, but we may enable trading at a later date.
Is that why the prices have gone up almost 50%?
There is also a countdown clock
http://www.cryptodaily.net/segwit2x-activation-countdown-timer/
i think this is pure speculation. If the development team have said the fork won’t happen it’s not going to be good. This is a few miners trying to make a quick buck. It’s likely to die very quickly. It’s also dangerous to movie 2x even if you have it as without replay protection, you could lose your corresponding btc.
It is indeed happening, whether it will be sustainable or not is the question.
Or even usable. If no exchanges list it, it takes an inordinate amount of time to confirm, has no development team and is worthless it won’t last long.
Still, with the current rise in BTC, and the chance that B2X does work, it's probably worth getting the fork amount.
Unlikely to be worth the risk considering there is no replay protection.
Haha damn my late night, I didn't get up in time to move fund anyway, oh well, not all that pumped about it, but would have taken a cut if it ends up working out. Prudent advice though, thank you for sharing!