Bitcoin's recent epic rise past the $6000 USD mark can be partially attributed to its upcoming fork on October 25th. People who hold BTC may be entitled to an additional bounty of Bitcoin Gold coins at a 1 for 1 ratio. Of course this is assuming exchanges and service providers are able to work out their systems in time for the fork. Word on the street is that both Exodus wallet and Bittrex have intetions to fully honor the 1 for 1 split.
This week bitcoin proponents have been talking about the bitcoin gold fork scheduled for October 25. With just a few days away, bitcoin exchanges and service providers have been detailing their contingency plans on how to best deal with the upcoming distribution of split tokens.
However, it seems that there is some controversy surrounding this upcoming fork. Take a look at what Coinbase had to say:
On October 21 the cryptocurrency exchange and brokerage service Coinbase revealed its plans for bitcoin gold. Coinbase says the protocol is incompatible with the existing version of bitcoin and the company will not support this fork.
“At this time, Coinbase cannot support bitcoin gold because its developers have not made the code available to the public for review — This is a major security risk,” explains the San Francisco based exchange.
Clearly forks are messy business as Coinbase useres scramble to move BTC to different exchanges before the deadline and snapshot of blockchain take place. The phrase 'if you snooze you lose' comes to mind as people anxiously await the upcoming fork. The second fork in the history of Bitcoin following the recent BCC fork.
What are your thoughts about this situation? Do you think that this situation highlights the dangers involved with a fork of bitcoin?
Please leave your thoughts and ideas about this topic below.
Thanks for reading!
Source:
Bitcoin Service Providers Continue to Reveal Plans for Bitcoin Gold - Bitcoin.com
Really very cool post and knowledgeable love it
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In my personal view, Bittrex is far better than Coinbase.
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hehe that was something really different :D
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I enjoyed reading your post. There is a lot of good stuff.
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very cool post and vlog, i like it
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Yours, Spinny
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Will definitely look at it.... I think it still a hoax...
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