One of the planetâs largest cryptocurrency exchanges, Bittrex, has announced that they will not support Bitcoin Gold trading immediately. Whilst they state that all Bitcoin (BTC) balances will indeed be credited the equivalent number of Bitcoin Gold (BTG) tokens following the hard fork, they will not provide trading options for the asset. At block 491,407, a snapshot of the blockchain will occur, following which users will be essentially airdropped coins on the new chain in accordance with the number they had stored at each private key.
The reasons cited for the decision to not immediately support the BTG fork seem to mostly come down to technical inconsistencies in security, as well as lack of communication from the team behind it. For the exchange, itâs not worth the downtime required to list such an unproven concept. In their website, Bittrex state:
Taking a snapshot of the Bittrex exchange Bitcoin wallet is also a large disruptive undertaking that requires over 24 hours of preparation (Bitcoin deposits and withdrawals are also suspended during this time) and should not be taken lightly.
They continue to cite a lack of consensus coding, replay protection, adequate code for evaluation, and the general obscurity of the developers involved with the project as reasons to support their decision not to offer trading pairs for the BTG hard fork.
The popular exchange also highlighted the Bitcoin Gold pre-mine of 8,000 blocks in their online statement, released Sunday. According to the exchange, 100,000 tokens will be immediately available to the team behind the fork. Bittrex pointed out that the founders of the new chain could dump their stake en masse once accepted on an exchange.
All told, the worldâs third largest cryptocurrency exchangeâs statement regarding the hard fork seemed firm but fair:
Bitcoin Gold does not satisfy our criteria for safety for our usersâ¦ Bittrex will make all reasonable attempts to credit our users BTG but until we have a fully supported wallet, we can neither guarantee tokens or consider creating a market. We will continue to monitor the state of the codebase and network. Weâd also like to encourage the BTG development team to reach out to us.
Bitcoin Price Technical Analysis for 11/23/2017 – Bearish Divergence Alert!
Bitcoin Price Key Highlights Bitcoin price is slowing on its climb, possibly priming for a pullback on profit-taking over the Thanksgiving break. Technical Indicators Signals The 100 SMA is
Bitcoin Cash Price Technical Analysis – BCH/USD to Retest $1500
Bitcoin cash price gained bullish momentum recently above $1200 against the US Dollar. BCH/USD might continue to move higher towards $1500. There was a solid upside move in bitcoin cash price as
Max Keiser: BTC to $100,000
Ever-the Bitcoin bull, Max Keiser has declared that he thinks Bitcoinâs top will be $100,000. According to Russia Today, the network on which Keiser has a regular slot on global economics, Keiser
The First Two Weeks of Crypterium ICO a Resounding Success
The first two weeks of Crypterium ICO, which started on October 31, 2017, saw lively and robust trade, with customers flocking to the sale from all over the world. Fifteen thousand users from 143
Ripple Adds ‘BitLicense’ Architect Ben Lawsky to Board of Directors
BitLicense architect Ben Lawsky has joined fintech startup Ripple’s Board of Directors.
Lawsky, a former federal prosecutor, was a thorn in the side of Wall Street banks during his tenure as the fi
Professional Traders Disrupting the Investment Management Industry – Covesting Opens Their Crowdsale.
Covesting is a peer-2-peer digital asset management platform combined with the most complete infrastructure for investors and cryptocurrency traders. The platform is being built by ex-Saxo bankers
Blockchain as the Foundation for a New Banking System
Blockchain technology can be considered the most promising site for experiments in the financial sector, which will open up unlimited possibilities and solve the acute problems of banks. It is no
Bitcoin Gold Wallet Scam Nets $3 Million in Illicit Earnings
More than $3.3 million has been stolen as part of an elaborate scam that took advantage of bitcoin users seeking to claim their share of the newly created cryptocurrency bitcoin gold.