Topic: Bittrex demanded Bitcoin Gold pay $265K or face removal (Read 184 times)
Since the whole crypto space is unregulated so it is quite obvious that Bittrex cannot get any legal help against BTG. Whatever happened due to Bitcoin Gold has not only tarnished reputation of Bittrex but also has caused their users to panic and lose faith on their platform whereas, they were not responsible for the stolen coins. So, it looks very logical for me to Bittrex asking for compensation.
Actually it depends on the condition. If the bitcoin has breached the term of condition regarding security then they are bound to pay. Moreover proof of work is not good for security and it should upgrade the consensus system to POS.
Bitcoin Gold should be removed from not only Bittrex but also from all other exchanges. It is a shit fork like all the other forks in the market and moreover, this coin just got exposed and let the world of hackers know how vulnerable it is. The developer team should have thought of coding it in a better way rather than releasing such announcements.
The money that Bittrex is demanding from BTG developer team should be taken as an example for other exchanges about how to deal with situations like that where shitcoins like BTG ruins their reputation among their customers and investors. BTG either should get delisted after this incident or pay the full amount of money that Bittrex is asking for if they really want to stay in this space.
Bitcoin Gold should be removed from not only Bittrex but also from all other exchanges. It is a shit fork like all the other forks in the market and moreover, this coin just got exposed and let the world of hackers know how vulnerable it is. The developer team should have thought of coding it in a better way rather than releasing such announcements.
Fork coin should not be existed, we have a bitcoin and it will be the only one and no more. As you can see a lot of people are saying the same thing like you. But it looks like bittrex wants more and more money. Is there a problem with the maintenance cost of bittrex exchange site? it has been going down to the medium tier exchange.
Since BTC gold has some security issues, Bitterx would be the right option for it. BTC gold mainly follows POW system and it is a poor one too on top of that. Moreover the reputation is at stake too.
think bitterx is right as the bitcoin gold lacks security. Bitcoin gold uses proof of work system and this system is not good for security and it should use proof of stake. Moreover it is a big issue and it will hamper the reputation of the market as well.
I always think bittrex is bad exchange and this kind of behaviour making me right.
Bittrex is going to delist Bitcoin gold from its exchange. They are taking this decision due to the reason that the coin has suffered debilitating heists of worth $ 20 million.Bitcoin gold works on proof of work consensus and they said on their part that
The dev team does defend itself by claiming the 51 percent attack that led the double-spending was not its fault. Instead, it blamed the Proof-of-Work consensus style on which Bitcoin Gold operates.
Serious I am really surprised by the above statement by the team, how can a dev made such a statement? are they not suppose to find a consensus style that will make their network secured from such an attack? it's obvious that they don't have anything to offer, it's better they just leave the space.
Bittrex is right in demanding compensation from the BTG team. Who should be in charge of the network security if not the dev team which decided to fork BTC for their personal gain?
BTG is a shitcoin, there is no doubt about it. but there are hundreds of altcoins that are worse than BTG out there and many of them are actually listed on Bittrex exchange and they have also had the same security flaws in them. why didn't their team ask those coins for compensation?
besides everyone seems to have forgotten to take a look at conditions of the open source projects in their license called MIT license! the project is released as is, the team is not responsible for any losses. in fact it is the dumbest thing to "demand" anything from the team! somebody needs to send Bittrex a link to the license so that they can read it and not be a newbie anymore
https://opensource.org/licenses/MIT
Although bitcoin gold itself has a problem. We hope to get the solution very quickly. We, all the investors are trying to save our investment and want to gain more profit. So there is need to solve the problem very soon.
Bittrex is right in demanding compensation from the BTG team. Who should be in charge of the network security if not the dev team which decided to fork BTC for their personal gain?
Exactly, BTG Team is the one responsible for securing their system, so this is a good move by bitter. For me, its better not to ask for any payment just delist this coin and bittrex will still be good. Since the first day of this coin and people are doubting, and now its true this project is really not good.
Caution is the biggest issue in cryptocurrency so we have to be careful about various projects and investments all the time. I will not say anything about bitcoin gold sitution but we must have to carefull about our investment.
Maybe your statement is be true, but we should get better knowledge about any project before investing I believe. May be some project good or bad but have to be a good idea about those project. Hopping Bitcoin Gold will its position soon.
In my opinion Bittrex is right way in deman recompense from the BTG players. It must be in charge of the networking secure. if not the other team decided to divide BTC for their personal advancement.
It is right in demanding compensation from the BTG team, people who should be in charge of the network security if not the dev team which decided to fork BTC for their personal gain. As a user of exchanges, I would like to be protected from trading currencies that have been hacking or are facing the risk to be hacked.
I'm curios why they kept Bitcoin Gold listed until now, they should have removed it immediately as the news got out.
As a user of exchanges, I would like to be protected from trading currencies that have been hijacked or are facing the risk to be hijacked.
As a user of exchanges, I would like to be protected from trading currencies that have been hijacked or are facing the risk to be hijacked.
Bittrex is right in demanding compensation from the BTG team. Who should be in charge of the network security if not the dev team which decided to fork BTC for their personal gain?
Bitcoin Gold uses Proof-of-Work consensus and I personally think Proof-of-Work consensus is not secure. Anyone or group control 51% of the total processing power can do a double-spend attack, they can erase transactions in the blockchain, it breaks the rule cannot change of blockchain. Proof-of-stake is better than Proof-of-Work.
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