On the heels of the Bittrex (World’s largest Crypto exchange by volume) statement regarding Segwit2x. Segwit2x futures continue to nosedive.
Why is bitcoin going to split?
There is a disagreement between key stakeholders over how to update the core software that runs bitcoin. You can learn more about the technical details below, but the crux of the fight is over whether to double the size of bitcoin blocks, reports Fortune.
When will the fork happen?
It is supposed to take place soon. This website offers a more precise moment —specifically Nov. 16 at 5:42 am—based on the number of blocks being added to the bitcoin blockchain. The fork is supposed to go into effect for block number 494784.
What version of bitcoin will prevail?
No one is really sure. If most miners get behind the proposed split—and stay behind it—that will likely make the big block version the de facto official version of bitcoin.
What to Watch For?
Exchanges are offering so-called chain split tokens, which function as futures markets, and those indicate the vast majority of community support is against the hard fork as well. Across multiple exchanges, the 2x tokens are trading at around 19% of the current value of a Bitcoin, while the 1x tokens are trading at around 81% at press time.