Bitcoin Gold is by far one of the most suspicious Bitcoin hard forks to date. With very little to no support from the community and service providers, a lot of questions remain unanswered. However, it seems we now have at least one wallet supporting BTG. Freewallet will support this upcoming hard fork, which is rather interesting. It remains to be seen how successful BTG will be, though, given the premine announcement earlier this week.
It is evident very few people want something to do with Bitcoin Gold. Everyone and their dog is hard forking existing cryptocurrencies these days. None of this means we will see more innovation or interesting features in the future. Bitcoin Gold checks a lot of the wrong boxes in this regard. There is nothing really innovative about it and wallet support is nonexistent. Or that was the case, until yesterday afternoon.
Freewallet Boldly Decides to Support a Premined Coin
More specifically, Freewallet will effectively support BTG moving forward. They are the first company to make this bold decision. It is possible they will be the only ones, but only time will tell how things evolve. On the exchange front, nothing has changed. With no one listing Bitcoin Gold, there is no real purpose for this currency whatsoever. Having one wallet on board is better than nothing at all, though.
So far, the Freewallet team has made preparations to support BTG functionality. Engineers are working on making this transition as smooth as possible. That may be a lot easier said than done, mind you. Bitcoin Gold will not be a “live” fork like Bitcoin Cash or SegWit2x. Instead, the developers will premine an undisclosed amount of coins. It is unclear what this means for the automatic airdrop that is supposed to happen.
All things considered, there is more confusion about Bitcoin Gold than ever before. Freewallet support is a positive note, but it may hurt their business in the long run. Associating with premined currencies is quite problematic, to say the very least. It also shows BTG is a very different altcoin and isn’t even worthy of using the Bitcoin name either. All of this is subject to interpretation, of course. It will be interesting to see how the rest of the community responds to these changes.