ElectronGold caught in the fraud

Users complain about suspicious activity
24 November 2017   565

With each passing day more and more reports are coming in that ElectronGold steals private keys of registered users. ElectronGold claims to be a website which helps people to get their Bitcoin Gold but it looks more like a fraud than a legal operation.

The problem is that not all exchanges carry on business in BTG and there are not so many digital wallets that support Bitcoin Gold. That’s why users register at ElectronGold in trying to get their money. But the source code of the website is alarming. It seems like the webpage was created only for dirty tricks and not for straight dealing.

ElectronGold purports to be a filiation of larger Electrum but developers of the second one swear that they have no connection with such a fraud. They reported that someone allegedly modified the code without their consent.

It remains in question, if developer’s statements are honest or not but it is highly recommended not to use ElectronGold until the situation becomes a little clearer.

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664k BTG Split & Moved For a First Time

This event can have huge impact on the Bitcoin Gold price
22 February 2018   82

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.