First, you should know that most people in the bitcoin community, including me, think Bitcoin’s October 25th hard fork into BTC and Bitcoin Gold (BTG) is a total joke. Unlike August’s hard fork to BCH, now trading about $325, and unlike November’s upcoming hard fork to Bitcoin 2x (B2X), currently pricing around $1050 on futures markets, my guess is BTG will be basically worthless.
But in case I’m wrong, here’s what you need to know:
1. What?
On Oct 25th, BTC will hard fork into BTC and Bitcoin Gold (BTG). If you own BTC on that date, you’ll be eligible to receive a free, equal amount of BTG. So if you own, say, 1.5 BTC, you’ll be eligible to receive 1.5 BTG (although there’s conflicting reports about a 10 to 1 ratio, or some such).
2. When?
The blockchain ‘photo’ will be taken on Oct 25th, but tokens won’t be awarded or start trading until November.
3. What do I have to do to make sure I get my BTG?
The best option is to move your BTC to an exchange that automatically credits your BTG to your account without you having to do anything. In August, Bittrex was the fastest deliverer of BCH, but neither it nor, as far as I know, any other exchanges have yet made that kind of guarantee for BTG. I’ll post any who do. If anyone else hears of any exchanges that have declared on BTG, please post.
If no exchanges declare they’ll award BTG by October 23rd-ish, then we’ll need to move our BTC to private wallets where we control the private keys, wallets like Electrum or Trezor. I'll post more step by step instructions on how to do that if no exchanges volunteer to do the schlepping for us.
Happy trading, all!
But in case I’m wrong, here’s what you need to know:
1. What?
On Oct 25th, BTC will hard fork into BTC and Bitcoin Gold (BTG). If you own BTC on that date, you’ll be eligible to receive a free, equal amount of BTG. So if you own, say, 1.5 BTC, you’ll be eligible to receive 1.5 BTG (although there’s conflicting reports about a 10 to 1 ratio, or some such).
2. When?
The blockchain ‘photo’ will be taken on Oct 25th, but tokens won’t be awarded or start trading until November.
3. What do I have to do to make sure I get my BTG?
The best option is to move your BTC to an exchange that automatically credits your BTG to your account without you having to do anything. In August, Bittrex was the fastest deliverer of BCH, but neither it nor, as far as I know, any other exchanges have yet made that kind of guarantee for BTG. I’ll post any who do. If anyone else hears of any exchanges that have declared on BTG, please post.
If no exchanges declare they’ll award BTG by October 23rd-ish, then we’ll need to move our BTC to private wallets where we control the private keys, wallets like Electrum or Trezor. I'll post more step by step instructions on how to do that if no exchanges volunteer to do the schlepping for us.
Happy trading, all!
