Waves doesn't support Bitcoin Gold

Waves notes that the team behind Bitcoin Gold is not transparent enough
25 October 2017   803

Waves has officially stated that it does not support the Bitcoin Gold hardfork.

At the same time, the project team intends to closely monitor the development of the new crypto-currency.

Waves is a community-driven platform, and as the core team, we can’t decide alone if we should support the new Bitcoin currency or not. At the same time, we must think both about our users’ safety and profits, if this coin does indeed survive and show excellent financial results. 
Therefore, we will continue to monitor the state of the Bitcoin Gold codebase, network, and the announcements of the key market players while preparing everything necessary to jumpstart support of Bitcoin Gold on the Waves platform.

Waves official statement

At the same time, platform developers noted that among the key players there is no consensus on Bitcoin Gold support, and the team behind BTG is "not transparent enough to be able to talk about their support."

The Waves team promised to take a "snapshot" of Waves's bitcoin balances at the time of creation of the 491407 block, and in case the fork proves to be viable and will be supported by the leading market players, credit BTG to BTC holders, that use Waves.

664k BTG Split & Moved For a First Time

This event can have huge impact on the Bitcoin Gold price
22 February 2018   60

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.