The Bitcoin Gold hard fork of the Bitcoin blockchain is expected to take place at block 491,407, which will likely occur on October 25. A new cryptocurrency, bitcoin gold, is expected to emerge from the fork. Over the past few days, major Japanese bitcoin exchanges have announced their plans regarding this hard fork and how they intend to deal with the new cryptocurrency.
Japan’s largest bitcoin exchange by volume, Bitflyer, announced on Saturday that its customers will be credited with an amount of bitcoin gold corresponding to the amount of bitcoin in their accounts prior to the split. No suspension of service is scheduled. The exchange wrote:
If the BTG [Bitcoin Gold] split is deemed by Bitflyer to be permanent and secure in regards to customer assets, on November 1 (tentative), users will be credited with BTG and purchase and sale of BTG will be made available on Bitflyer.
In addition, the exchange detailed “after sufficient observation of the stability in the BTG chain after the split, BTG deposit and withdrawal services will be made available on Bitflyer.”
Bitpoint announced on Friday that “bitcoin gold will be given to customers according to the number of coins [they] held at the time of the split.” However, this can be delayed if the new blockchain is unstable or there is a risk of replay attacks, the exchange conveyed. No service suspension has been planned. Bitpoint added:
Regarding the withdrawal and deposit services and the buying and selling of the newly generated bitcoin gold, since the security design of the newly formed blockchain has not been sufficiently confirmed, its handling is undecided at this stage.
GMO Coin announced on Saturday that bitcoin gold will be granted to customers, but the timing has not been decided. In addition, the exchange will temporarily suspend bitcoin deposits and withdrawals around 20:00 on October 25. Furthermore, GMO Coin stated:
There are no plans to offer services such as buying and selling of bitcoin gold.
Exchanges With No Plans to Distribute
Some exchanges have decided to take a wait-and-see approach.