Bitcoin Gold Set to be Delisted by Bittrex, Cites Excessive Fees
With Bitcoin Gold set to be delisted by Bittrex, BTG developers are citing the exchange’s demand for 12,372 BTG to remain listed as excessive. It was a demand they refused to fulfill.
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Shunned After Costly Technical Problems, Bitcoin Gold Set to be Delisted by Bittrex
Bittrex is the world’s 21st largest exchange by volume as of press time, according to Coinmarketcap, although it is the fifth largest in terms of number of trading pairs. Bittrex’s BTG/BTC trading market represents the tenth most significant for BTG, at a little under 3 percent of all BTG trading. Its BTG/USDT market is Bitcoin Gold’s 17th most significant, slightly below one percent of trading volume. Almost half of BTG trading is on HitBTC, Bithumb, and Bitfinex, in the BTC, KRW, and USD trading pairs, respectively.
According to the Bitcoin Gold blog post, Bittrex sought payment for expenses borne during the May 19th double-spend attacks on exchanges trading BTG. After the July 3rd hard fork, similar risks are unlikely. Bittrex was prepared to partially cover the losses they suffered as a result of the attacks. The Bitcoin Gold team offered a loan, which the exchange declined.
Bitcoin Gold Organization Blames Everyone… Except Themselves
In dumbfounding conflicting claims in the published article, the BTG developers first argued the blame lay at the feet of the attackers, who they claim rented hash power through the NiceHash rental market to carry out the 51 percent double-spend attacks. Per the blog post:
“Everyone knows 51% attacks and Double-Spends have always been a known risk in the PoW blockchain world. The attacks on exchanges in May were not the result of any fault or flaw in the BTG blockchain or code… the attackers bear responsibility for their attacks.”
Yet in the previous and following paragraphs, the organization accused the exchange’s security procedures of being to blame:
“… we are not empowered to make a disbursement from the Endowment for the purpose of covering a private company’s losses from their own security failures… The Bitcoin Gold team is not responsible for [the] security policy within [sic] private entities like Bitrex [sic]; those who earn revenue running a private business must manage the related risks and are ultimately responsible for their own security.”
Founder Jack Liao’s accusation of miner malfeasance got the attention of Bitmain co-founder Jihan Wu, who hit back, raising the possibility that Liao himself launched the attack to steal from his own community:
Jack Liao is spreading rumors now that Bitmain 51%ed BTG. No, it was not Bitmain. It is possible that Jack Liao himself attacked BTG as a way to further steal funds from the community and attack BCH fork.
— Jihan Wu (@JihanWu) May 25, 2018
He also accused Liao of paying journalists to report that “a mining company” was responsible:
I was told that Jack Liao is giving money to reporters, and asked reporters to write news about the 51% attack of BTG. And the news will make indecent suggestion that “A mining company” attacked his shitcoin.
— Jihan Wu (@JihanWu) May 26, 2018
Bitcoin Gold a Controversial Fork
Bitcoin Gold forked from the bitcoin blockchain during the 2017-2018 fork-a-thon. The forks included Super Bitcoin, Bitcoin Platinum, Bitcoin Cash Plus, Bitcoin Silver, Bitcoin Uranium, Bitcoin God, Bitcoin Private, and Bitcoin Atom among others. Bitcoin Gold achieved a certain level of notoriety when Liao told Dr. Craig Wright to “shut up” in an exchange befitting a schoolyard:
— 🎀 (@cryptovenus) May 23, 2018
With Bitcoin Gold set to be delisted by Bittrex on September 14th, now is the time to get it off that exchange.
Have your say. With Bitcoin Gold set to be delisted by Bittrex, do you see this cascading and spreading to other exchanges? Are the BTG team being treated fairly?
Images via Pixabay, Maxpixel