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RE: Bitcoin's dip is Bitcoin Cash's gain. Also, date finally set for Bitcoin Gold to begin trading!

in #bitcoin7 years ago

One this to consider about Bitcoin Gold is that much of it might not ever go into circulation. I say this because there was so much indecision on the part of exchanges prior to the fork. Bittrex pretty much simultaneously announced that would take the "photo" and give their customers the Bitcoin Gold and then immediately locked the wallets. Which is fine if you still had your Bitcoin on Bittrex but if you have moved to a non-exchange wallet so you would have the "private key" then you might have a problem. That is if the wallet you used does not support Bitcoin Gold. As Bitcoin Gold is brand-new I would guess that is most of them.

In my case I had my Bitcoin on a Jaxx Wallet. I have no idea how to get the Bitcoin Gold off of it. I suppose Jaxx may someday support it and then it might show up. But then again maybe not. Also I have no idea if I lost any potential chance of that happening when I moved the Bitcoin back to Bittrex when then announced they would support the November fork, which of course got cancelled. I did not want to lose out on two forks.

I admit that I am somewhat new to cryptos, but not as new as many. My guess is that a lot of Bitcoin Gold will never be used by anyone, because a lot of owners are sitting on keys without any doors to use them on.

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Yup agree man. There's so much confusion as to which wallets do indeed support BTG. I don't even care about those forked coins, the Bitcoin community needs to stop with all these hard forking.

I agree about the forks that split the coins. However I don't have problems with improvements, if a consensus can be reached. But I do care about the "free" coins. They do belong to me and they do have value, even if the value is to sell them and buy BTC. Also you never know who might win the "civil war". So if you are a hodler , wouldn't you want to hedge your bets and keep both? Or all three? Or all....................however many they end up with?