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Monday, October 23, 2017

The first Bitcoin fork is hours away - and it's a mess!


Bitcoin gold is the first of two Bitcoin forks coming up since Bitcoin Cash last August - and complications keep popping up.

On Saturday Bittrex released a statement on Bitcoin Gold (BTG), warning against it's technical limitations:

"When considering adding tokens to Bittrex exchange we look at the risks involved. Bitcoin Gold does not satisfy our criteria for safety for our users."

They even firmly called out it's developers:

"...information and codebase presented by the Bitcoin Gold team is not in a functional state and Bittrex will not commit to opening a Bitcoin Gold trading market."

Bittrex says they are however still committed to making sure their users receive their BTG, but it's never a good sign when they end their statement asking for the BTG development team to contact them, saying:

"We'd also like to encourage the BTG development team to reach out to us." 

Then there's Trezor, makers of the popular hardware based wallet.  While users will receive their BTG, it'll be useless, without the ability to trade or receive more without opening major security risks.

"Bitcoin Gold’s codebase is, at the moment of the writing, incomplete. Most importantly, it lacks replay protection. For this reason, TREZOR Wallet will not support Bitcoin Gold yet, as it would endanger your bitcoins."

With the fork just hours away, buzz on twitter and reddit seems to predict an altcoin rally, as people quickly ditch their free BTG to put it into something that may have a brighter future.

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Author: Ross Davis
San Francisco News Desk