Following F2Pool, BTCC mining pool also stopped signaling support for Segwit2x

There are growing signs that the Segwit2x hard fork may not happen in November this year. After F2Pool withdrew its support for Segwit2x, BTCC seems to be launching as well. The fact that the BTCC mining pool has mined several blocks in a row without any signal of support for Segwit2x is a pretty fishy sign. It is still unclear how this will affect Segwit2x, but as the deadline approaches, the situation of Segwit2x seems to be slowly collapsing.

What is the future of Segwit2x? The emergence of Bitcoin Cash makes the 2MB hard fork meaningless

A few weeks ago, before these recent dramatic shifts, we pondered the future of Segwit2x in general. At the time, there seemed to be no logical reason for the hard fork to proceed. After all, the Bitcoin network had already implemented the Segwit upgrade. Those who wanted larger blocks now had the option of using Bitcoin Cash. There was no reason to merge the two concepts anymore.

It seems that some mining pools agree with this idea. F2Pool has already withdrawn from signaling support for Segwit2x. The operator of the mining pool confirmed that they only agreed to the New York Agreement to ensure Segwit is activated on the Bitcoin network. There was never really any desire to support Segwit2x, as this hard fork did not provide any meaningful upgrades, so there is certainly no financial support from the community at the moment. This situation does not seem to be changing anytime soon.

BTCC mining pool has also stopped supporting Segwit2x. BTCC has mined several blocks in a row that do not signal support for Segwit2x. For many, this is just a sign of things to come. It is possible that more mining pools will refuse to support Segwit2x. Now that Bitcoin has activated Segwit, there is no reason to work on a 2x solution.

However, we may still see the Segwit2x hard fork in November, as some other mining pools are still supporting the solution. However, while these companies are signaling support for Segwit2x, it does not mean that all of these mining pools will support the hard fork to be activated on the Bitcoin network. Bitfury is rumored to support the 2MB block hard fork, but the company has not officially confirmed it.

Even if BTCC withdraws support for Segwit2x, the solution is still supported by many mining pools. At last check, the number of new blocks signaling support for Segwit2x still accounted for 94.2%, which is much higher than many people think. However, this data has not yet been updated to include BTCC's support. It will be interesting to see how the current situation changes in the coming weeks and months.