A lot of things have happened in the Bitcoin world over the past week. Perhaps the one thing flying under the radar is how Bitcoin Gold is now officially live. Although it remains to be seen how things will play out, the mainnet is now live. It is another form of Bitcoin, even though it has little to do with the actual Bitcoin as we know it. Given all of the shenanigans taking place lately, it wouldn’t be surprising to see BTG soar to a high value in the coming days.
It is unclear what the world should expect from Bitcoin Gold at this point. The launch was delayed several times, and interest waned. Most people will get access to their BTG n the coming weeks. There are still very few exchanges and wallets which support this altcoin. It remains unknown how long it takes until things will change in this regard. Now that SegWit2x is out the picture, things may turn out a lot different than people would expect.
Bitcoin Gold is Here, Sort of
The futures of Bitcoin Gold are still valued at $338 at this point in time. This doesn’t mean every BTG is worth that much money, though. Until this currency is effectively traded on exchanges, there is no real value for this altcoin. Then again, the same applied to Bitcoin Cash not that long ago. Over time, the value of this altcoin has soared a swell. The recent peak was reached at almost $2,800, which is quite spectacular. Whether or not Bitcoin Gold will see a similar trend, remains to be determined.
Claiming one’s Bitcoin Gold will still be pretty difficult for the time being. Until all services support BTG, balances will not be issued automatically. In some cases, this may take until January of 2018 or even longer. There is no overwhelming support for this particular altcoin right now, that much is evident. Airdrops like these are far too common these days, that much is certain. Bitcoin Gold is as far removed from BTC as Litecoin is from Ethereum.
Moreover, Coinmarketcap isn’t tracking the real price of BTG just yet. That is mainly because the currency cannot be traded by any means. There is an interesting future ahead for the cryptocurrency, that much is evident. How all of this will play out, is everybody’s guess right now. It is not impossible Bitcoin Gold will take away value from either BTC or BCH in the future. Then again, value is created out of thin air in the cryptocurrency world on a regular basis as well.
Header image courtesy of Shutterstock