Bitcoin GOLD (BTG) Hard Fork Announcement
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[[email protected]:30PM, IST, 24-Oct-2017]: Now you can BUY/SELL BitcoinGOLD (BTG) coins through Mobile App!! thank you!!!
[[email protected]:30PM, IST, 24-Oct-2017]: FREE BitcoinGOLD (BTG) coins has been credited to all eligible user's on 1:1 basis: Buy/Sell BitcoinGOLD (BTG) NOW (via website); thank you.
[[email protected]:32AM, IST, 24-Oct-2017]: Blocks are being mined fast, hence, block 491407 would be mined by before 7:30 AM, IST, on 24-Oct-2017; thank you.
We have received many inquiries about Bitcoin GOLD (an upcoming Bitcoin Hard Fork), please find below our planned course of action regarding the upcoming changes.
Bitcoin Core is continuing to undergo important protocol changes. We are at the edge of one more fork that will result in new altcoin, Bitcoin GOLD (BTG).
We are happy to announce that anyone making a Bitcoin deposit to their “Bitcoin India™ wallet” by block 491407 will be credited Bitcoin Gold (BTG) in a 1:1 ratio of their current bitcoin holdings.
Meaning, If you have 1 Bitcoin in your account at the time of block 491407, you will have 1 Bitcoin and 1 Bitcoin Gold (BTG) in your Bitcoin India™ wallet.
What is Bitcoin Gold? Bitcoin Gold (codename BTCGPU; Ticker: BTG) is a fork of the Bitcoin network to create a new blockchain that will occur at block height 491407. The new blockchain will be incompatible with the existing version of Bitcoin. The idea behind BTG is to give the opportunity of CPU/GPU mining back to miners. Once that block is reached, the Bitcoin network will split into two: BTC and BTG.
What to do? Simply send all of your Bitcoins to your Bitcoin India™ wallet and keep them there until block 491407 (before 9AM, IST, on 24-Oct-2017). After that block you can spend or move out your Bitcoins, although Bitcoin India™ wallet is one of the safest places to keep them during forks.
When will this fork occur? The fork will happen when the Bitcoin blockchain reaches block number 491,407, which is currently estimated to occur on October 24, 2017, 9:20 AM, IST. You can see “Bitcoin Gold (BTG) hard fork countdown clock” here: https://www.crypto-news.net/bitcoin-gold-btg-hard-fork-countdown-clock/
Is Bitcoin India™ going to support Bitcoin Gold? Yes; we operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. However, safety and security are also important considerations for any asset supported by Bitcoin India™.
What actions do I need to take? No customer action is required. Your existing Bitcoin funds remain safe. If anyone making a Bitcoin deposit to their “Bitcoin India™ wallet” by before 9AM, IST, ON 24th October 2017 (before block 491407) will be credited Bitcoin Gold (BTG) in a 1:1 ratio of their current bitcoin holdings. Meaning, If you have 1 Bitcoin in your account at the time of block 491407, you will have 1 Bitcoin and 1 Bitcoin Gold (BTG) in your Bitcoin India™ wallet.
Will there be any disruption to Bitcoin India™ wallet services? Yes. In order to avoid any confusion, we will keep our site under quick maintenance by 9:00 AM, IST, 24th Oct 2017 for the duration of 30-60 minutes max; and, our services will be resumed back online by 10AM, IST, 24th Oct 2017.
Will I be able to buy/sell BitcoinGOLD (BTG)? Yes, BTG trading markets (sell/buy only) on Bitcoin India™ wallet are going to be open on October 24th.
Will I be able to deposit/withdraw BTG? Yes, but, at a later date, probably on or after 2nd November 2017. We at Bitcoin India™, our top priority is the safety of users' funds and security of the network, customer demand, trading volumes; we always spend extensive time in designing, building, testing and monitoring our systems continuously in order to ensure that the digital assets which we support remain safe and more secure. Our developers are doing their best to proceed with all technical challenges without any inconveniences, they will fully review the stability of the new chain and will perform the necessary security tests; Hence, there is a possibility that BTG transactions will be available only a week after the fork. As soon as it happens, we will make BTG deposits and withdrawals available for our users, probably on or after 2nd November 2017.
How will this affect the Bitcoin network? We do not expect any impact on the Bitcoin network with this fork. The difference in miners’ opinions regarding these updates will result in distribution of the worldwide hashing power between those projects. The exact ratio of this distribution is uncertain. Without advocating for or against any of those updates, we believe it’s important to clearly state our position in the middle of that uncertainty. Our top priority is to fulfil our commitments towards our traders. We’re aiming to provide our traders with possibilities to try new tools and to support what they believe in. That is why we have decided to provide access to all chains.
As always, we will keeping doing our best in facilitating as many as possible number of digital assets to be available from our site/app/platform. Find more information about Bitcoin Gold on their official website and here.
In case we could be of any assistance or guidance, or you’d like to share a thought – please https://bitcoin-india.org/customer_support, we’re here for you.
- The CARE Team, Bitcoin India™
(Bitcoin India™ - is the one-and-only startup from India providing these types of products and services under one umbrella, the types of tools that every person requires in the crypto space, such as a full-stack digital asset exchange and trade platform, digital asset wallet services, a merchant payment gateway, club membership, mining services and a mining pool)
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