The crypto community rallied against SegWit2x due to the changes that it had proposed. If Bitcoin had gone ahead with SegWit2x hard fork, then the community would have been open to a number of attacks. There were concerns that the changes proposed in the hard fork would compromise the integrity of the blockchain. Many developers complained of ill-planned coding that might make the whole Bitcoin community vulnerable to hacking.
The SegWit2x campaign was met with stark resistance in the form of the "no2x" campaign. Eventually, the hard fork was cancelled, only a week before it was scheduled to occur. One would assume that this was the end of the SegWit2x story, but now a new team has risen. They claim that they will be performing the hard fork. While this group may seem ambitious, they have a sketchy profile.
The new SegWit2x hard fork team has no relation to the people of the New York Agreement (NYA), who initially decided on performing SegWit2x. The team’s GitHub page is less than a month old and the proclaimed leader of the team has a half empty LinkedIn profile.
Is it a scam?
It is not easy to answer this question. The team performed the hard fork on block number 501,451 on the 28th of December, but the users can only access the new coins after the 15th of January. It is hard to believe that the team will be able to fulfill all of the promises it is making. The new SegWit2x team has claimed that they will share the original Satoshi bitcoins with investors.
How the team will go around doing this is unclear. This promise seems far-fetched. The original Satoshi bitcoins have been considered to be lost for years and tracing them is nearly impossible.
The following were the comments of the team regarding the matter:
“In addition, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support the hardfork!
By “Bitcoin of Satoshi Nakamoto” we mean what the founder and chief developer of Bitcoin [BTC] mined at the time of zero network activity. They will be credited to the crypto-exchanges and wallets of our partners gradually.
The list of partners will be constantly updated on our website! Even if Satoshi Nakamoto wants to get B2X for his pre-mining, he is not able to do this, as we blocked the initial blocks for conversion to Bitcoin SegWit2X.
It is worth noting that this present to users who supported us will be credited sometime after the basic conversion 1:1”
There are fears that the new team is simply performing a pump and dump scheme. The technique is used by fraudsters to raise the value of assets through misinformation, and then dumping their holdings when the value is at a higher rate. While they get rich, the investors loose all of their investment.
The truth will be in the open soon enough, as only 10 days remain before the team has to start distributing the tokens.