Wayniloans to exit SegWit2x

Wainyloans, the company that provides cryptocurrency loans for private actors, has announced its exit from the New York Agreement.

The New York Agreement outlines the SegWit2x update principles, its participants are for changing the chain of blocks in the Bitcoin network with the use of both Bitcoin Cash and the original Bitcoin protocol features. The implementation of SegWit2x will lead to the increase of a typical Bitcoin block to 2 MB, with all improvements of SegWit still in place. SegWit was implemented at the end of July 2017, the implementation of SegWit2x is scheduled for November 2017.

The company tells in the announcement that most of its Latin American clients do not consider the update necessary and the company itself thinks that there could be financial risks amidst implementation. Previously, the Chinese mining platform F2Pool decided to withdraw from this agreement.

However, this decision is unlikely to change the sentiment of other participants, often more influential than Wayniloans or even F2Pool. At the press time, for example, Coinbase is still there – and this respected company based in the United States would have exited the agreement long ago if there were some considerable risks. The only risks that come in mind is another Bitcoin “cousin” that might appear due to the hard-fork. Bitcoin Cash has demonstrated that the segregation of Bitcoin does not affect the price of the latter considerably, but increases the cryptocurrency market competitiveness instead, as any new currency reshapes it.