664k BTG Split & Moved For a First Time

This event can have huge impact on the Bitcoin Gold price
22 February 2018   226

On February 20, an unknown user released 664,000 BTG coins that had been lying motionless since the launch of the Bitcoin Gold network last fall. This could lead to the largest one-stage increase in the BTG market for the whole short history of the existence of the "new digital gold". This is reported by CCN.

Bitcoin Gold crypto currency was formed as a result of the harsh press, held on October 24 last year. The network wasn't launched immediately, but several weeks after the completion of the premiere.

The holders of bitcoin have the opportunity to obtain an equivalent number of BTG coins. Many hastened to take the necessary action to obtain new coins in the first weeks. However, in all likelihood, not all holders of large amounts in the crypto currency have done this.

Below is a graph that illustrates the dynamics of obtaining BTG coins by bitcoin holders (forks. network):

Amount of coins moved on each side
Amount of coins moved on each side

One of the engineers of the Blockchain, who created the forks.network, connects this transaction to the bitcoin-service Xapo. In his opinion, the action was committed on the initiative of one of the institutional clients of the popular service.

It remains a mystery why this unknown cryptoinvestor did not extract the BTG coins before and did not sell them when the Bitcoin Gold market rate reached a mark above $ 400. Currently, the weighted average rate of BTG is around $ 125.

Bitcoin Gold crypto currency can not now be called a highly liquid altcoyin. According to the volume of market capitalization, the coin is on the 20th place of the Coinmarketcap rating, and the daily trading volume of BTG hardly exceeds $ 40 million.

The current value of the above 664,000 coins is $ 82.7 million. Thus, the sudden release of Bitcoin Gold coins to the market is unlikely to have a positive effect on the course of this relatively young crypto currency.

Bitcoin Gold to Adopt Lightning Network

Bitcoin Gold team reported that it is working on finalizing the necessary integrations to fully implement Lightning Network on BTG in second quarter of 2018
21 February 2018   4013

Bitcoin Gold decentralizes mining by adopting a PoW algorithm, Equihash, which cannot be run faster on the specialty equipment used for Bitcoin mining (ASIC miners). Bitcoin Gold has full replay protection and unique wallet addresses, essential features that protect users and their coins from several kinds of accidents and malicious threats.

Bitcoin Gold team reported that it is working on finalizing the necessary integrations to fully implement Lightning Network on BTG in second quarter of 2018. Lightning Network is a groundbreaking way to enable near-instant payments with even lower fees through dedicated side channels. Because they are off the main chain, Lightning Network saves space in the blocks, but it allows huge numbers of fast transactions between large entities at very low cost.

Bitcoin Gold RoadmapBitcoin Gold Future Development

Moreover, plans of Bitcoin Gold for 2018 include SPV wallet Electrum release, Bech32 addresses, and libraries for wallet developers: BitCore, BitcoinJ, BitcoinJ5.

At the moment of press, these are main market parameters of Bitcoin Gold:

Average price: $130,98
Market cap: $2 205 418 134
24h volume: $40 758 600