Only one Japanese Exchange Will Effectively Trade Bitcoin Gold




NewsBTC Japan Bitcoin Gold

No one can deny we have seen plenty of debates regarding Bitcoin Gold as of late. The bigger question is which service providers will effectively support this altcoin. Over in Japan, it seems the opinions are somewhat divided for the time being. bitFlyer plans to distribute and trade BTG, which is perhaps the most notable announcement Other platforms would like to wait and see how things play out.

Given the lack of public source code associated with Bitcoin Gold, supporting the altcoin is very difficult. Moreover, there is a premine involved, which most exchanges will not appreciate. Japanese exchanges have made their intentions known regarding BTG, although the outcome is somewhat surprising. bitFlyer is the only exchange to effectively credit and trade this new token. Especially the trading part is of great interest. This will only happen if the fork is permanent and secure, though. Right now, that remains a big question mark.

No big Support for Bitcoin Gold in Japan

More specifically, bitFlyer will only allow trading on November 1st or later. A lot can happen between now and then, though. There are still far too many uncertainties regarding Bitcoin Gold at this point. This also explains why most Japanese exchanges will not make any final decision right now. Coincheck isn’t too keen on supporting it right now, which is understandable. The lack of replay protection is their biggest concern right now.

Zaif and Fisco have made some controversial decisions as well. More specifically, they will not support BTG nor credit account balances accordingly. Considering how Bitcoin Gold has nothing to do with the Bitcoin blockchain, that is not surprising. This is not your average fork whatsoever. Instead, it will be something entirely different with all the traits of an altcoin. It should also be treated as such, regardless of whether it has Bitcoin in the name.

Rest assured a few people will not agree with these decisions whatsoever. Bitcoin Gold is highly controversial and is getting more attention than it perhaps should. Everyone is free to support whichever currency they prefer, though. A lot of people want to compete with Bitcoin, yet no currency comes even close. Bitcoin Cash failed bitterly in this regard so far. BTG and SegWit2x will – most likely – not fare much better in this regard. Then again, nothing is set in stone and things are always subject to change.

Header image courtesy of Shutterstock

Published by

JP Buntinx

JP is working hard to bring more credibility to the Bitcoin and blockchain news industry. Outside of being Europe Editor at Newsbtc, JP is also an active writer for the website, and does not shy away from letting his opinion be heard.

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