MELBOURNE, Australia,
Nov. 25, 2017 /PRNewswire/
-- The world eagerly anticipated SegWit2x in early November
this year, a "hard fork" in the Bitcoin blockchain that promised to
improve the general usability of its technology, however, it seemed
to have failed miserably.
The SegWit2x hard fork project is a New York Agreement that was
signed earlier this year by multiple companies and miners to
create a Bitcoin spinoff similar to what happened with Bitcoin
Cash.
When a coin experiences a hard fork, two different coins,
ledgers and sets of code originating from the same platform and
blockchain are produced. The new coin is then given to the digital
wallet holding the base cryptocurrency, benefitting coin holders
for free.
SegWit2x was an attempt to increase the efficiency of the
limited transaction speed from the meager 1MB base block
size by upgrading the transaction capacity of SegWit2x blocks
to 2MB.
Bitcoin Gold and Bitcoin Cash are some examples of hard forks
that were created, with Bitcoin Cash currently occupying the
third-highest cryptocurrency market capitalization spot, two
positions behind its base block and market
leader, Bitcoin.
When Bitcoin Cash first started trading on Aug. 1, 2017, its price hovered below
$1,000 and remained relatively stable
in the months that passed.
It was only within days of the SegWit2x failure in
mid-November that the price of Bitcoin Cash rose from
$600 to $2,500 US dollars. Interestingly, Koreans formed
the majority of the volume at 48%.
Quotient Capital is a blockchain asset investment management
company founded in Australia,
2004. The firm's investment philosophy involves the acquisitions
and trading of various cryptocurrencies, as well as investments
into cryptocurrency-related companies and assets.
The investment firm with 5.8 billion
USD in assets under management has impressively
invested in Bitcoin Cash before the massive jump, making a
substantial profit in the process.
Quotient Capital anticipates and reacts to major cryptocurrency
events such as the SegWit2x failure, where high volatility is
experienced and sound decisions are required. The firm has managed
to profit handsomely from Bitcoin Cash's jump as the firm had
priorly bought into Bitcoin Cash/Korean Won trading pairs through
Korean exchanges such as Korbit, Coinone and Bithumb.
Quotient Capital is one of the few multinational firms that has
invested in the blockchain development of their traders and
analysts and the firm attributes their keen foresight to their
dynamic consultant team.
The ripple effect from Bitcoin Cash's jump has made mining on
the Bitcoin Cash blockchain more enticing. With more Bitcoin Cash
in circulation, there will be an increase in liquidity to provide
for lower trading fees, benefitting cryptocurrency asset investment
firms such as Quotient Capital.
More importantly, the failure of SegWit2x symbolizes a greater
problem; the stagnation and potential decline of the world's number
one cryptocurrency, Bitcoin.
If Bitcoin is unable to scale as designed to, then blockchain
congestion will only worsen over time, causing higher transaction
fees which will inevitably run counter to its original mandate: a
digital currency for the masses.
Incidentally, the potential demise of Bitcoin will only serve to
Bitcoin Cash's advantage. Bitcoin Cash boasts a faster and more
scalable infrastructure that allows added functionality such as
micro-transactions.
If Bitcoin experiences another failed hard fork, it could start
losing its appeal which will propel Bitcoin Cash to
superstardom.
If Bitcoin could turn hundredaires into millionaires, Bitcoin
Cash could turn Quotient Capital into the first trillion-dollar
cryptocurrency investment firm.
Quotient Capital
Quotient Capital is a blockchain asset investment management
company founded in Australia,
2004.
The firm started as a conventional asset management company
before focusing primarily in the acquisitions and trading of
various cryptocurrencies, as well as investments into
cryptocurrency-related companies and assets.
Quotient Capital currently has 5.8
billion USD assets under management and five offices
globally.
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SOURCE Quotient Capital