Bitcoin God, SegWit2x and this is all: hardfork, still hardfork

At the end of December, participants in the cryptocurrency market received another “gift” - a new altcoin with the pathetic name Bitcoin God. This is a hard fork, which was announced a few weeks earlier. Bitcoin God was born on block 501 225 from the bitcoin blockchain. The hardforka was initiated by a Chinese entrepreneur, Chandler Guo, whose company is positioned as a “non-profit P2P organization”.



Guo points out the main advantages of GOD (an abbreviation of the project Bitcoin God): support for smart contracts, Lightning Network, increased block size, mining according to the Proof-of-Stake principle and increased confidentiality due to the Zero-knowledge Proof proof concept with zero disclosure.



The project site states that the number of new Altcoins is 21 million. 17 million will remain in the wallets of Bitcoin holders, and another 4 million cryptomonet is sent to charity. Users are invited to leave their addresses in the social networks of the project. In the future, the community will determine the ratio and volume of donations by voting.



It is also alleged that such companies as Bytom, Metaverse, NEO, QTUM and Mobius are engaged in the technical support of altcoin. GOD support has already been announced by such exchanges and wallets as Bithumb, Bittrex, Poloniex, OKEX, Kraken, GDAX and Huobi.pro. Hardfork was supported by 46 cryptocurrency exchanges and 26 wallets. Bidding GOD officially opened on the YoBit Exchange, in the future altcoin promise to support many other exchanges. The launch of the main network according to the roadmap of the project will take place in the first quarter of 2018.





Initially, GOD was planned to be launched on December 25th. Up to this point, the initiator of the project indicated that hardfork will be “the distribution of delicious for all Bitcoin holders”. Despite all the advantages of the new cryptocurrency, analysts believe that it cannot become very popular. The fact is that not many market participants know about the project itself. And without the support of a crypto entity, the new coin is almost doomed. And the main problem is that hard forks are becoming more and more.



Anyone can declare a new hardfork, which reduces the importance of hard forks and undermines the trust of cryptocurrency players in both new coins and the “main” bitcoin.



“The community does not have a single opinion on the new fork. Mass support for Bitcoin God is not observed, there is no strong PR either. Accordingly, the rapid growth and, moreover, the struggle for first places with Bitcoin Cash and traditional Bitcoin is not expected, ” said the founder of the Blockchain.ru group of companies, Dmitry Matsuk.

Well, what about SegWit2x?

Here “everything is strange and strange,” as Alice from “Wonderland” loved to say. The problem is that behind SegWit2x there is now a completely new development team, and representatives of the crypto-community are very skeptical about it.



In the new team, as reported on the fork site, there are three leaders. These are Yap Thurlow, Donna Hughes and Robert Szabo.



LinkedIn's Yap profile states that he is the main developer and consultant for SegWit2x. But at the same time, he has no development experience in the blockchain field. In the same profile, it is indicated that Yap holds the position of CEO of a company, whose name is not specified, in the past he worked in another unnamed company, holding the strange position of Mayor SLM new build.



Donna is still more interesting. Her profile is on Instagram, where it is indicated that she is a crypto-developer, ICO and blockchain specialist.







All would be fine, but on December 19th it was stated in the same profile that Hughes is a model, a dancer, and a business woman. Transformation from a model to a crypto-developer, as we see, takes only a week - talent is talent.







The third member of the team, Robert Szabo, posted a bit more information about himself than his colleagues, but he also has no development experience in the blockchain field. Szabo, as far as can be judged, held positions at T-Mobile, and his specialty is an automation engineer.



A few days ago, the team added two new members - Arthur Buinitsky and Bartosz Kozlowski. Of all this warm company, only Buinitsky, as indicated in the profile, has experience in software development. Previously, one more person was listed as a member of the team - Sairam Jetty, who was surprised by his new “work”. In fact, he did not give his consent to posting his own photo and profile on the site, and he calls the SegWit2x project in its current implementation a scam.



And the SegWit2x page on Github exists a little more than a week . Vetka Reddit Bitcoin ScorCoins reports that a SegWit2x representative demanded private keys from community members. It also indicated that the premaine of SegWit2x is 2 million Coin (or even 6 million).







Moreover, there is information that developer accounts actually contain information about non-existent people .



In general, new hard forks do not bring much benefit to the crypto community. The only thing they do is undermine the confidence of market players in the main coin. Perhaps that is why the BTC exchange rate has ceased to take off, and after growth now shows a significant drop .