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Segwit2X and the new Bitcoin Fork. What you should know.

Segwit2X is the name given to the agreements and disagreements of the update of the Bitcoin Blockchain network. The story is long and complex, full of interests and different opinions, I recommend researching on it if you have interest to know exactly what it means.

For the common user whats important to know is that the core developers of Bitcoin do not agree with the update that is about to be installed, its not that they don't agree with the reasons as to why it is needed, but the ways and the timing are in question.

There is still a lot of debate on whats going to actually happen, what we know is that when the block 494784 is updated into the blockchain there will be a Fork of the network(see: 2Xcountdown), this means, that like it happened on the 1st of August when BitcoinCash was created, around the date of 18 of November there will be a new coin created and everyone with one Bitcoin will also have this 2X coin.

I predict that only one of the two will survive, I recommend that after the fork happens, to just wait and observe how the market is reacting. Later on, when a clear winner is chosen, to sell the other coins and convert them into whatever cryptocurrency you choose.

Please note that like seen in the post "How to claim you Bitcoin Cash" you will need access to your private keys to be able to access your 2X coins.

DioAlma

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