If we are to believe what we are told - the Bitcoin Blockchain has forked in one case again afterward the revival of SegWit2x.

The fork, which was abandoned in November due to a lack of consensus among original signatories of the New York Agreement, proposed an increase in Bitcoin'southward block size from 1mb to 2mb in an effort to improve its scalability.

Much similar Coinbase's surprise declaration of Bitcoin Cash support a week agone, SegWit2x'southward revival popped up on the cyberspace courtesy of a new website, headed up past a completely new team of developers from those that had worked on the original SegWit2x code.

The developers historic the launch of SegWit2x at block number 501451 on Dec. 28, although potential users will just accept access to the new B2X coins on Jan. 15, 2022.

According to the website, B2X features will include a unique address format, a 2 and a one-half minute cake generation rate while the mining complication will be recalculated afterward each new block is generated.

Furthermore, the block size will be increased to four mb, every bit opposed to the original two mb suggestion by the original SegWit2x developers. Replay protection is as well being touted, which was a major shortcoming in the proposed fork a few months ago.

All of this sounds great - but it actually sounds likewise good to be true.

Outlandish promises of Satoshi Nakamoto's premined Bitcoin

In addition to their proposed changes, the developers have promised to requite users a share of 2 1000000 B2X coins, which they merits stalk from Satoshi Nakamoto's original pre-mined Bitcoin. Like Bitcoin, B2X volition take a 21 mln coin cap.

We are told that supporters of the fork will go a share of Nakamoto's originally mined Bitcoin, converted to B2X at a 1:ane ratio.

"In add-on, we will distribute a proportional number of "Bitcoins of Satoshi Nakamoto" to all those who support hardfork! By "Bitcoin of Satoshi Nakamoto" we mean what the founder and chief developer of Bitcoin [BTC] mined at the fourth dimension of nil network activity. They will exist 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 practise this, as we blocked the initial blocks for conversion to Bitcoin SegWit2X. It is worth noting that this nowadays to users who supported us volition be credited former afterwards the basic conversion 1:one"

Furthermore, the developers insist that only those two mln coins will be premined.

"Satoshi Nakamoto's Bitcoin [BTC] will exist mined and distributed proportionally to all Bitcoin holders on the crypto-exchanges and wallets of our partners (2 mln). There will be no additional pre-mining!"

Equally Cointelegraph reported on December 28, the SegWit2x GitHub repository actually shows that 6 mln coins will be premined - with 3 different addresses committed in the code at different cake heights.

The movie below shows two of the 3 different pre-mine commands going to dissimilar wallet addresses.

Pre-mine commandsPump and dump fears

What this suggests is that the developers will have admission to six mln B2X coins when trading begins, giving them a massive amount of power over the valuation and supply of the newly-forked cryptocurrency.

If and when people start trading B2X, there is a chance that the developers could pull a 'pump and dump' motion, selling their new coins at inflated prices, making quick returns on coins that they'd premined.

According to Investopedia, this practice is a scam and is illegal.

Futures trading

Some other gene that points towards fishy beliefs is the fact that B2X futures contracts are already bachelor on some exchanges - meaning people have started betting on hereafter valuations of the cryptocurrency.

An insider could stand to make some massive brusk-term gains - with those futures having launched on December. 19, according to the website:

"Already now, Bitcoin SegWit2X futures [B2X] are traded on large crypto-exchanges, the listing of which is constantly replenished. Stay tuned for updates on our website and social channels!"

Coinmarketcap data shows that futures trading of B2X has been highly volatile - afterwards hit a high $1205.05 on Dec. 27. That has now dropped to $272.25 as of Dec. 30:

SegWit2x [Futures] ChartsWallet support

B2X will be supported by FreeWallet and Zumminer, but other wallet providers like Trezor have distanced themselves from the project on their Reddit page. It'south also bizarre to meet that exchanges like Coinbase have non fabricated any statements about the new launch.

Wallet supportDraw your own conclusions

All of this information could betoken to an outright scam. A completely unlike team of developers seem to have hopped on the SegWit2x bandwagon, hijacked the name and are looking to make a quick buck out of gullible and uninformed investors.

Their website may expect legitimate, just poke effectually enough and there are holes everywhere.

The fact that most of the largest cryptocurrency exchanges take not even recognized the fork or the new B2X coin shows that the legitimacy of the fork is questionable at best.

It will be interesting to run across what the coins are trading at on January. 15 - and how the wider cryptocurrency customs reacts.