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Home / Analysis / Japan’s bitFlyer & Coincheck are DISTRIBUTING BITCOIN GOLD(BTG)

Japan’s bitFlyer & Coincheck are DISTRIBUTING BITCOIN GOLD(BTG)

In the wake of The upcoming Bitcoin Hard Fork 2, expected to occur ,This Week ,25 October, Japan’s biggest and Richest Bitcoin Exchange ,The Tokyo based bitFlyer , endorsing  ,This, new cryptocurrency is set to launch trading services ,whereby ,The Users would be able to sell,deposit ,transfer BTG from Their bitFlyer accounts.

Forming on block 491,407,after The Hard Fork ,BTG is an improvement in The Existing Protocol and is headed by Jack Liao from Lightning ASIC,A Hong Kong based mining firm.

The  press announcement for The bitFlyer Users stated :

“We will credit you with an amount of BTG corresponding to the amount of Bitcoin (BTC) in your bitFlyer account prior to the split. 2 If the BTG split is deemed by bitFlyer to be permanent and secure in regards to customer assets, you will be able to own both BTC and BTG in your bitFlyer account.BTG withdrawals and deposits will be enabled by the exchange ,after sufficient observation of the stability in the BTG chain after the split”

More Bitcoin Exchanges in Japan are coming forward in support of BTG, Coincheck is another major Exchange which has announced to provide Bitcoin Gold(BTG) On SegWit2x

In Their Press Announcement , Coincheck  notified ,that , The date of Distribution of This new Crypyocurrency  will be specified once BTG  has sufficient replay attack protection, a stable miner hashpower , adequate protection from vulnerabilities and Bitcoin Gold is Appropriately Listed .

Sharing ,The Equation of Calculation for distribution.

Bitcoin Gold to be distributed = ( (Amount of Bitcoin you own) + (Amount of long position you hold) – (Amount of short position you hold) – (Amount of Bitcoin you’re borrowing) )

It is to be noted that, The  Coincheck Exchange Equation differs in issuing Payouts  for Transactions Of  Payment  and Transactions Of The Lending Accounts at the exchange.

Both The Major Exchanges have confirmed that there will be no suspension of services at bitFlyer and Coincheck around The Time Of The Bitcoin SegWit2x Hard Fork.

Well, The faith in Bitcoin is stabilizing for its approaching  Hardfork ,and Things are looking in control ,The weekend Bonanza, Bitcoin Scaling past $6000 Summit  and looking stable is a Good sign for The Appoaching Hard Fork.

 

 

 

 

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