They lost a battle. But who said they lost the war ? At least the Segwit2X team think they did not. In fact, they just launched a petition and are investing a lot of money in advertising to make their point.
Regarding the 270 billions dollars at stake (= the current market capitalization of Bitcoin), it is understandable. If you want to take on the almost 10 years old untouchable mammoth, it’s better to do not worry about your spending. Bitcoin is the number one. Bitcoin is still the unquestioned boss. Even Roger Ver, wholeheartedly fighting for Bitcoin Cash, knows how hard it is. And Bitcoin Cash has not (yet) even be able to take Ethereum on. Despite the incredible capitalization growth of Bitcoin Cash, the original Bitcoin is not waiting for the others. And it stays far ahead.
Bitoin Cash had finally given up on taking the original Bitcoin name. It’s indeed better not to let Bitcoin in the hands of a guy who sold explosives on Ebay.
But Segwit2X is in for a brand new war.
They then decided to be smarter than they were the first time. Indeed Segwit2X first attempted fork, in November, has been disastrous. Why ? Because, as they realized later, they were highly critized at least, and unpopular at best, for doing everything in their corner without thinking about the end users, us.
So now they decided to change their tune and published a petition, calling for public support. It has now reached almost 20,000 signatures. Will it be enough ? It could. Indeed, many people are tired of slow and expensive transactions. They are under the impression that Bitcoin development is slow. The fun fact is that: it’s not. This feeling is just there because the exploding popularity is overwhelming a project that was used, for years, to live in a niche.
Now Bitcoin has dozens of million of users. That’s as many more expectations. The Bitcoin revolution is already entering the second phase: the mass adoption. And I hope Bitcoin will understand that specific point. Because that’s in fact how companies like Google, Amazon or Netflix destroyed their competition. They understood, before their competitors, that most people want things to go faster and faster. And the faster they go, the more impatient they are, the better you need to be to answer that requirement.
You may reply that the Bitcoin Foundation is a nonprofit organization, so it can’t hire thousands of developers at $150,000 a year each. That’s correct. However the truth is that this fact doesn’t matter much to most new users, because mass adoption users are not as patient as early adoption ones. They are used to fancy, fast and easy-to-use stuff. They want Snapchat, not Usenet.
So Segwit2X may be the answer. It may not. The truth is that it’s just sad that the community is divided when we, as early-adopters, would surely have prefered all these talented people to work together instead of generating another drama. I guess any project growing too big encounters the same common issue: politics.