Did Bitcoin win? Certainly the most popular cryptovalent won one of the battles. This time it was a battle against SegWit2x. Yesterday's SegWit2x failed when Mike Belshe, one of the solution leaders, declared that he would not lead to further division of the Bitcoin community. As the statement states, community unanimity is more important than larger block size.
The main argument against SegWit2x was its structure, which had a lot of technical shortcomings, which put the chain and transactions at risk. The proposed solution had no critical security functions, such as transaction replay protection. This has resulted in a growing lack of consensus within the Bitcoin community, which has led to NO2X traffic.
The striking argument against the fort was the fact that the solution was constructed in a meeting behind closed doors. This strongly contradicts the idea that Bitcoin is an open-source technology in which the opinion of every member of the community is important. NO2X was afraid of the situation when SegWit2x will be implemented, a group of people or companies will be able to control the whole blockchain. It was unacceptable for the community.
Now it is worth asking the key question: Why did SegWit2x fail? The community had strong arguments against a solution, but more importantly, the NO2X movement was joined by an increasing number of members of the largest cryptovalent community. A significant number of people started to speak openly that a solution introducing a larger block size would stop the development of Bitcoin. Organisations such as Hong Kong Bitcoin Community have written an open letter condemning the solution. Companies such as Bitmex have openly called the' shitcoin' solution for cryptographic cryptographic circles to promote NO2X traffic, just like Charlie Lee.
The companies and organizations that signed the New York Agreement started to withdraw from these arrangements, because community pressure was too strong. The list of companies that have not signed or withdrawn from NYA has grown overnight. SegWit2x's chances of success were constantly diminishing because the community grew stronger. With such resistance, it can be said that SegWit2x failure was inevitable.
When yesterday's SegWit2x defeat finally materialized, most of the cryptosociety began celebrating. However, some members of the community decided to be cautious. There is a good chance that a few miners and developers supporting the solution will try to implement them on their own. They will slip out of wounds and ruin. Maybe by then Bitcoin's fans will come up with a solution that will be accepted by the whole community?
SegWit2x's defect shows the strength of Bitcoin and his community in defending against negative influences that can affect cryptovalute. This shows that the Bitcoin community can organise itself sufficiently to face the challenges of consensus.
