Bittrex Announced Their Plans On The Upcoming Bitcoin Gold Fork
Bittrex has recently announced its official stance on the Bitcoin Gold fork to happen this October 25, 2017.
The exchange will perform a wallet snapshot during time time of the hard fork, which is expected to occur at block 491,407.
Users will receive BTG coin equal to the amount of their Bitcoin balance during the snapshot which will happen at 10:00 AM (UTC) on October 24, 2017.
However, Bittrex warns its users of the following:
Bitcoin Gold doesn't currently have:
- Fully formed consensus code
- Adequate code for testing and auditing
- Implemented replay protection
- Publicly known code developers
The codebase of BTG does not contain a private premine of 8000 blocks (100k BTG) and so the exchange warns that if the market opens, there is a possibility that developers will sell their premined BTG on the open market.
Also, Bitcoin Gold will not be listed on the platform as it does not meet the necessary requirements.
During the snapshot, all deposit and withdrawal transactions will be suspended 24 hours before the snapshot.
Coincheck and bitFlyer, Japan's Largest Bitcoin Exchanges Has Announced Their Plans for the Bitcoin Gold Fork
bitFlyer has recently announced they will be distriubuting Bitcoin Gold to their users prior to the hard fork event on October 25,2017.
It also revealed that it will launch trading services for the new cryptocurrency where users can sell, send, and deposit BTG from their bitFlyer accounts.
Coincheck, however has a different way of distributing BTG to their users.
The amount of BTG to be distributed will be equal to: ((The amount of BTC you own) + (Amount of short position you hold) – (Amount of long position you hold) – (Amount of BTC you are borrowing)).
Coincheck has not determined a specific date yet on the distribution and has not yet decided yet on providing trading options for the new cryptocurrency.
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