Bitcoin GOD (GOD) Hard Fork Announcement
[BACK TO PRESS RELEASES]
We have received many inquiries about Bitcoin GOD (GOD) (an upcoming Bitcoin Hard Fork), please find below our planned course of action regarding the upcoming changes.
Bitcoin God is a fork introduced by a Chinese blockchain investor Chandler Guo. The chain split is planned to happen at the block 501,225 approximately on December 25, CST. The official website of the Bitcoin God introduces such features of the new network as smart contracts support, increased block size, lightning network implementation and zero-knowledge proof.
Our wallet is going to support this Bitcoin fork, if it will happen. We will be updating this post with further information on how we are going to proceed in each case, kindly check back on the news.
However, we are happy to announce that anyone making a Bitcoin deposit to their “Bitcoin India™ wallet” by block 501,225 (must have 6-network confirmations) will be credited Bitcoin GOD (GOD) in a 1:1 ratio of their current bitcoin holdings.
Meaning, If you have 1 Bitcoin in your Bitcoin India™ wallet account at the time of block 501,225, you will have 1 Bitcoin (BTC) and 1 Bitcoin God (GOD) in your Bitcoin India™ wallet.
What is Bitcoin God (GOD)? An ultimate Bitcoin fork solution. There is no additional issuance or pre-digging. All God coins distribute 1: 1 to all BTC users and GOD community users.
What is the total amount of GOD? 21 million (equivalent to Bitcoin). The team does not retain GOD. All GOD tokens are distributed to users.
Why need GOD? GOD retains the merits of Bitcoin - decentralization, while improving Bitcoin's controversial expansion, making it even more useful and valuable.
What is the purpose of GOD? Ending the current Bitcoin forking chaos, restoring decentralized blockchain like Bitcoin and addressing the inherent congestion in Bitcoin. Enpowering a better blockchain community and allowing for continued development of blockchain technology.
What are the advantages of GOD compared to other fork currency?
Other forks are formed on the basis of "companies". They are essentially fee-for-profit IFOs, disguised as ICOs. GOD does not allow for pre-digging or issuance of additional tokens. It is solely owned and maintained by the broader community and users.while being developed and maintained by developers all over the world.
What to do? Simply send all of your Bitcoins to your Bitcoin India™ wallet and keep them there until block 501,225 (at around 3AM, IST, on 26-Dec-2017; time might vary based on the block execution of Bitcoin). After that block you can spend or move out your Bitcoins, although Bitcoin India™ wallet is one of the safest places to keep them during forks.
When will this fork occur? The fork will happen when the Bitcoin blockchain reaches block number 501,225, which is currently estimated to occur on December 26, 2017, 3 AM, IST. You can keep an any on this press release for updates.,
Is Bitcoin India™ going to support Bitcoin God? Yes; we operate by the principle that our customers should benefit to the greatest extent possible from hard forks or other unexpected events. However, safety and security are also important considerations for any asset supported by Bitcoin India™.
What actions do I need to take? No customer action is required. Your existing Bitcoin funds remain safe. If anyone making a Bitcoin deposit to their “Bitcoin India™ wallet” by before 3AM, IST, ON 26th December 2017 (on or before block 501,225) will be credited Bitcoin GOD (GOD) in a 1:1 ratio of their current bitcoin holdings. Meaning, If you have 1 Bitcoin in your account at the time of block 501,224, you will have 1 Bitcoin and 1 Bitcoin God (GOD) in your Bitcoin India™ wallet.
Will there be any disruption to Bitcoin India™ wallet services? Yes. In order to avoid any confusion, we will keep our site under quick maintenance by 3:00 AM, IST, 26th Dec 2017 for the duration of 15-30 minutes max; and, our services will be resumed back online as soon as Hardfork would occur at block 501,225.
Will I be able to buy/sell BitcoinGOD (GOD)? Yes, GOD trading markets (sell/buy only) on Bitcoin India™ wallet are going to be open on December 26th, if this Hardfork happen as they scheduled.
Will I be able to deposit/withdraw GOD? Yes, but, at a later date, probably during 2018 Q1 once GOD Network launch. We at Bitcoin India™, our top priority is the safety of users' funds and security of the network, customer demand, trading volumes; we always spend extensive time in designing, building, testing and monitoring our systems continuously in order to ensure that the digital assets which we support remain safe and more secure. Our developers are doing their best to proceed with all technical challenges without any inconveniences, they will fully review the stability of the new chain and will perform the necessary security tests; Hence, there is a possibility that GOD transactions will be available only a week after the GOD Network launch. As soon as it happens, we will make GOD deposits and withdrawals available for our users, probably during 2018 Q1.
How will this affect the Bitcoin network? We do not expect any impact on the Bitcoin network with this fork. The difference in miners’ opinions regarding these updates will result in distribution of the worldwide hashing power between those projects. The exact ratio of this distribution is uncertain. Without advocating for or against any of those updates, we believe it’s important to clearly state our position in the middle of that uncertainty. Our top priority is to fulfil our commitments towards our traders. We’re aiming to provide our traders with possibilities to try new tools and to support what they believe in. That is why we have decided to provide access to all chains.
As always, we will keeping doing our best in facilitating as many as possible number of digital assets to be available from our site/app/platform. Find more information about Bitcoin GOD on their official website and here.
In case we could be of any assistance or guidance, or you’d like to share a thought – please https://bitcoin-india.org/customer_support, we’re here for you.
- The CARE Team, Bitcoin India™
(Bitcoin India™ - is the one-and-only startup from India providing these types of products and services under one umbrella, the types of tools that every person requires in the crypto space, such as a full-stack digital asset exchange and trade platform, digital asset wallet services, a merchant payment gateway, club membership, mining services and a mining pool)
“We're Bitcoin India™ which is growing each quarter, with 100-plus employees now, said Mr. Sykam Reddy, the Founder & CEO of Bitcoin India™; “It’s the one-and-only startup from India providing these types of products and services under one umbrella, the types of tools that every person requires in the crypto space, such as a full-stack digital asset exchange and trade platform, digital asset wallet services, a merchant payment gateway, club membership, mining services and a mining pool.”
“Since the inception of Bitcoin India™ in 2014, we’ve started adding the world’s most popular digital assets — including Bitcoin, Ethereum, Litecoin, DASH, BitcoinCash, Ripple(XRP), NEM, IOTA, Monero(XMR), Dogecoin, BitcoinGOLD, NEO, and Zcash — to our portfolio,”. And we are now in the process of adding over 10 more digital assets that will be available very soon.”
[BACK TO PRESS RELEASES]