We explore a single hypothesis: that in an emergent ("it-from-bit") spacetime the microscopic information-propagation velocity cinfo need not coincide with the macroscopic light speed cmacro, their ratio being a function of the local curvature or entanglement density. Embedding this kinematically on a Schwarzschild background through a curvature-dependent factor ∆ = (cinfo/cmacro)2 = 1 + ϵK/K∗, we find that a single sign parameter ϵ generates two distinct spacetimes. For ϵ > 0 (pattern A) the geometry is a charge-free Reissner—Nordstr¨om type with an information horizon displaced inward of rs, satisfying the energy conditions. For ϵ < 0 (pattern B) a double-zero design ∆ = u|u| produces a genuine signature change across a null face rc, opening a finite Euclidean shelland a two-time core; the Kretschmann scalar remains finite at rc and the surface gravity vanishes. Both branches terminate black-hole evaporation in remnants and resolve the information paradox by opposite mechanisms (leakage vs. freezing). We show that the degenerate face suppresses classicalmass inflation from exponential to power-law growth (confirmed by linear and nonlinear numerics), and that pattern B falls into the single stated exception of the semiclassical inner-horizon no-go theorem because its degenerate face is the outermost horizon. We find no viable direct observational signature at any scale for a Planck-normalised K∗; instead we connect the central hypothesis to two established frameworks—Lieb—Robinson bounds on the micro side and analogue gravity on the macro side—and derive a concrete, falsifiable analogue prediction: a 85Rb condensate with an engineered double-zero scattering-length profile yields a phonon pair-production spectrum whose high-k cutoff differs by nearly two orders of magnitude from that of a sudden signature change, withno thermal pedestal. All results are reproduced by an accompanying open-source code package.