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Bittrex to support Bitcoin Gold

22 October 2017 21:00, UTC

The vast American cryptocurrency exchange, Bittrex, has decided to support the upcoming Bitcoin segregation. The exchange team promises: a snapshot of every wallet status at the moment of hard-fork will be made, and an equal sum of Bitcoin Gold, the new cryptocurrency, will appear on user accounts.

"If you have a Bitcoin (BTC) balance on Bittrex during the BTG snapshot block 491,407 occurring approximately on October 24, 3am PT (10am UTC), you will be additionally credited the equivalent amount of Bitcoin Gold (BTG) on a 1:1 basis. i.e. 1 BTC on Bittrex held during the on-exchange snapshot will get you 1 BTG. BTC held on orders will also be credited.  Only the BTC held on your account is eligible for BTG."

However, in the same statement, Bittrex expresses its concern over vague origins and status of Bitcoin Gold, or, as it is already abbreviated, BTG:

"Bitcoin Gold does not currently have:

  • Fully formed consensus code
  • Implemented replay protection
  • Adequate code for testing and auditing
  • Publicly known code developers
Bitcoin Gold codebase also contains a private premine of 8,000 blocks (100,000 BTG). Please be aware that if a market does open there is a possibility of the developers selling their premined BTG on the open market."

In other words, probability of speculation by the team responsible for this currency development is high, and every future BTG trader must be aware of this.