BitPico's Threat To Execute the Bitcoin Hard Fork won't work, according to cryptocoins news
First, BitPico did not sign the New York Agreement (NYA) that set SegWit2x into motion, nor was it publicly “shamed” by Bitcoin.org in its list of SegWit2x supporters. Were BitPico really as influential as it claims, there would certainly be more evidence of its existence.
Second, BitPico claimed in an email last month that their pool accounted for 1.72% of the global hashrate and that they were in the process of adding another 3-4% by the end of October. So by their own admission, that would mean that their share of the hashrate had grown by at least 24% in less than two weeks — a highly unlikely scenario, especially considering that this group has very little online footprint aside from a vacant Github repository and a sparsely-used Twitter feed.
**** First, BitPico did not sign the New York Agreement (NYA) that set SegWit2x into motion, nor was it publicly “shamed” by Bitcoin.org in its list of SegWit2x supporters. Were BitPico really as influential as it claims, there would certainly be more evidence of its existence.
**** Second, BitPico claimed in an email last month that their pool accounted for 1.72% of the global hashrate and that they were in the process of adding another 3-4% by the end of October. So by their own admission, that would mean that their share of the hashrate had grown by at least 24% in less than two weeks — a highly unlikely scenario, especially considering that this group has very little online footprint aside from a vacant Github repository and a sparsely-used Twitter feed.
**** Third, although the hash rate has made a minor decline since Wednesday, the dip is nowhere near 30% and is most likely part of the network’s normal fluctuations.
Finally, the threat appears hollow even if you accept the group’s claim its software is “enterprise-grade,” which is why it has not been active on Github. Even if the group did account for 30% of the hashrate, that would not be enough to make SegWit2x the “chain with the most accumulated difficulty,” which is the standard that SegWit2x-supporting companies such as Xapo and Coinbase stated they would use to determine which blockchain is “Bitcoin”.
Taking these factors into consideration, it does not appear that one should take BitPico’s threat to activate SegWit2x seriously"
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