BLOCK 491407 is ON! BitcoinGold Has Forked!
So what is going to happen? Nothing … Go have a drink or two. Just kidding.
At BTC Bitcoin block 491,407, Bitcoin Gold (BTG) will take a “snapshot” of the Bitcoin network and stop following the main Bitcoin blockchain. At that point, the fork will have occurred and everyone who holds Bitcoin will receive a mirror balance in Bitcoin Gold, which they can collect with compatible software. That event is scheduled to occur sometime around midnight on October 24 but it happened October 23rd.
However, it won’t be until November 1, or even a bit later, that the code will be released to the public and the first block is mined on the new blockchain, the Bitcoin Gold developers mentioned this in their official Slack channel. This could spell trouble, because a week is plenty of time for people to lose interest if there’s no mining or economic activity on the network.
Bitcoin Cash’s (BCH) first block was mined hours after the fork, and it has been sideways for quite some time and is at $327USD today coin compared to Bitcoin’s nearly $6,000 value.
Bitcoin Gold may have an even tougher time clinging to life. But only time will tell.
The Bitcoin (BTC) value is the BitcoinGold (BTG) value you will receive. EXAMPLE: If you have .54 BTC, then you get .54 BTG for free.
Stay tuned for the Bitcoin Fork Saga – Part 2
Faith Sloan, CryptoQueen QueenWiki
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