Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forks => Bitcoin Forum => Bitcoin Gold => Topic started by: ABCbits on January 16, 2024, 12:19:44 PM
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While some people point out Bitcoin Gold (BTG) price, volume or relative position (usually on CoinMarketCap) as reason why BTG is dead, i got curious and did further research. There are other things that concerns me,
1. BTG Core (BTG full node software) has latest release on 2020[1] while the source code last updated on last year[2].
2. ElectrumG (BTG wallet software) has latest release on 2018[3].
3. Many software which mentioned on it's developer portal[4] also doesn't receive update/release on long time.
4. There are only 232 BTG transaction created in last 24 hours[5]. For comparison, there are 21,354 BCH transaction created in last 24 hours[6].
Do you also think Bitcoin Gold (BTG) is dying?
[1] https://github.com/BTCGPU/BTCGPU/releases (https://github.com/BTCGPU/BTCGPU/releases)
[2] https://github.com/BTCGPU/BTCGPU/branches/all (https://github.com/BTCGPU/BTCGPU/branches/all)
[3] https://github.com/BTCGPU/electrum/releases (https://github.com/BTCGPU/electrum/releases)
[4] https://github.com/BTCGPU/Developer-Portal (https://github.com/BTCGPU/Developer-Portal)
[5] https://bitinfocharts.com/bitcoin%20gold/ (https://bitinfocharts.com/bitcoin%20gold/)
[6] https://bitinfocharts.com/bitcoin%20cash/ (https://bitinfocharts.com/bitcoin%20cash/)
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This is the first time I am hearing about Bitcoin gold, seems that the project developers of that coin is not even taking the project serious. They may have stopped promoting the project and has left it to survive alone. If that coins was really popular, I would have seen it being hyped by most people who really love to invest into altcoins. You might be right that the project is dieing.
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This is the first time I am hearing about Bitcoin gold, seems that the project developers of that coin is not even taking the project serious. They may have stopped promoting the project and has left it to survive alone.
That's good point. When i create this thread, i only pay attention to whether BTG software still in development. But looking at social media/forum mentioned on BTG homepage[1], it's also true they no longer promote their coin. For example, their most recent tweet created on 2018[2] while recent post on their forum used for advertising spam (e.g. exchange clone script).
[1] https://bitcoingold.org/ (https://bitcoingold.org/)
[2] https://twitter.com/bitcoingold/status/979095983559790592 (https://twitter.com/bitcoingold/status/979095983559790592)
[3] https://forum.bitcoingold.org/ (https://forum.bitcoingold.org/)
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This is the first time I am hearing about Bitcoin gold, seems that the project developers of that coin is not even taking the project serious. They may have stopped promoting the project and has left it to survive alone.
That's good point. When i create this thread, i only pay attention to whether BTG software still in development. But looking at social media/forum mentioned on BTG homepage[1], it's also true they no longer promote their coin. For example, their most recent tweet created on 2018[2] while recent post on their forum used for advertising spam (e.g. exchange clone script).
[1] https://bitcoingold.org/ (https://bitcoingold.org/)
[2] https://twitter.com/bitcoingold/status/979095983559790592 (https://twitter.com/bitcoingold/status/979095983559790592)
[3] https://forum.bitcoingold.org/ (https://forum.bitcoingold.org/)
Bitcoin fork are basically all scams. Just convert them to BTC if you have any bitcoin fork. There are dozens of them, and they just lose value every month, while bitcoin grows stronger.
Just sell them if you can. A few years ago you could recover nearly all of them with coinomi, but that wallet is abandoned now and I don't know if it still works for forked coins.
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Bitcoin fork are basically all scams. Just convert them to BTC if you have any bitcoin fork. There are dozens of them, and they just lose value every month, while bitcoin grows stronger.
Just sell them if you can. A few years ago you could recover nearly all of them with coinomi, but that wallet is abandoned now and I don't know if it still works for forked coins.
I'd rather say most rather than all since few forks still have active community/software development. But otherwise, i agree selling them is good choice. As for Coinomi, they claim they still support BTG along with few other forks[1]. Although it seems they gradually stop supporting those[2].
[1] https://www.coinomi.com/en/assets/ (https://www.coinomi.com/en/assets/)
[2] https://twitter.com/CoinomiWallet/status/1514491510074576899 (https://twitter.com/CoinomiWallet/status/1514491510074576899)
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I'd rather say most rather than all since few forks still have active community/software development. But otherwise, i agree selling them is good choice. As for Coinomi, they claim they still support BTG along with few other forks[1]. Although it seems they gradually stop supporting those[2].
[1] https://www.coinomi.com/en/assets/ (https://www.coinomi.com/en/assets/)
[2] https://twitter.com/CoinomiWallet/status/1514491510074576899 (https://twitter.com/CoinomiWallet/status/1514491510074576899)
Coinomi project is abandoned. This Twitter post is from 2022.
Their last update to their mobile wallet is from march 2022. Nearly 2year ago. Many things are broken in that wallet now.
https://play.google.com/store/apps/details?id=com.coinomi.wallet&hl=en_US
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I'd rather say most rather than all since few forks still have active community/software development. But otherwise, i agree selling them is good choice. As for Coinomi, they claim they still support BTG along with few other forks[1]. Although it seems they gradually stop supporting those[2].
[1] https://www.coinomi.com/en/assets/ (https://www.coinomi.com/en/assets/)
[2] https://twitter.com/CoinomiWallet/status/1514491510074576899 (https://twitter.com/CoinomiWallet/status/1514491510074576899)
Coinomi project is abandoned. This Twitter post is from 2022.
Their last update to their mobile wallet is from march 2022. Nearly 2year ago. Many things are broken in that wallet now.
https://play.google.com/store/apps/details?id=com.coinomi.wallet&hl=en_US
Thanks for the reminder, i don't use Coinomi so i already forget it's abandoned. Although it's weird the website still active, which means either they pay few years in advance or someone still pay for server/domain regularly. In that case, Electrum fork for BTC forks might works assuming there's at least one running server.
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Any cryptocurrency that needs to wait for more than 10 confirmations before it is considered safe is dying coin, and Bitcoin Gold (BTG) is one of the first coins that requires waiting for dozens of confirmations before accepting deposits, but since investors only care about the investment aspects, technical development is not an indication of the death of the currency.
Bitcoin Gold (BTG) is being removed from many exchanges, which means it is only a matter of time before we see its price near zero.
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Any cryptocurrency that needs to wait for more than 10 confirmations before it is considered safe is dying coin, and Bitcoin Gold (BTG) is one of the first coins that requires waiting for dozens of confirmations before accepting deposits
That's true, although FWIW it makes sense for coin with very low block time.
but since investors only care about the investment aspects, technical development is not an indication of the death of the currency.
It's not only about technical development, but also whether someone maintain the software. Even regular person might be concerned to see ElectrumG last updated 5 years ago.
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I remember the beginnings of BTG and even then it didn't look particularly attractive or that it had a significant perspective. It came as a free forked coin and that's almost all we've seen of it.
I pretty much forgot about BTG until this discussion. As far as I can see on CMC, most of the traffic takes place on 3rd-level exchanges (how much can such exchanges be trusted at all, do they report fake trading volume). Yes, it seems that BTG is slowly slipping into history.
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I remember the beginnings of BTG and even then it didn't look particularly attractive or that it had a significant perspective. It came as a free forked coin and that's almost all we've seen of it.
I pretty much forgot about BTG until this discussion. As far as I can see on CMC, most of the traffic takes place on 3rd-level exchanges (how much can such exchanges be trusted at all, do they report fake trading volume). Yes, it seems that BTG is slowly slipping into history.
And what make it worst for this kind of fork coins is that they be soon delisted just like what happen to BSV. If that happens for them in a 3rd tier exchange so what's more on other exchanges that are not well known but they have been listed?
So yeah, pretty much all this so called fork Bitcoin will soon die, a slow but painful death for them.
And it just proved that no one will come close to Bitcoin (BTC).
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Do you also think Bitcoin Gold (BTG) is dying?
What makes you think it is still alive? :D
4. There are only 232 BTG transaction created in last 24 hours[5].
Cut that in half, as half of those are of some miner moving his rewards or distributing them as a pool, I'm not going to play the detective work but seems like there is only one on the whole network:
https://explorer.bitcoingold.org/insight/address/GJjz2Du9BoJQ3CPcoyVTHUJZSj62i1693U
Still funny how the only volume is on bitthumb and upbit, those guys never learn to lower their bots activity.
It's not only about technical development, but also whether someone maintain the software.
Not really, a solid designed coin won't need any kind of maintenance, protocols are far more solid than their clients which can go haywire on a simple windows patch.
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Do you also think Bitcoin Gold (BTG) is dying?
What makes you think it is still alive? :D
Technically it's still alive since new block still created and you can trade it on exchange.
It's not only about technical development, but also whether someone maintain the software.
Not really, a solid designed coin won't need any kind of maintenance, protocols are far more solid than their clients which can go haywire on a simple windows patch.
In terms of protocol of the coin, i agree. But i also refer to other stuff such as fixing bugs and ensuring it's running properly on newer OS. For example, AFAIK it could be tricky to run old Mac apps on newer Mac OS. For windows, you also need to sign your installer with valid and non-expired digital signature if you don't want your user complain it's marked as suspicious by the OS or antivirus.
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Do you also think Bitcoin Gold (BTG) is dying?
What makes you think it is still alive? :D
Technically it's still alive since new block still created and you can trade it on exchange.
Let's call it zombie coin or failed necromancy project then because if we talk technically no coins is completely dead at any point since it can be resurrected by anyone with a copy of the blockchain.
In terms of protocol of the coin, i agree. But i also refer to other stuff such as fixing bugs and ensuring it's running properly on newer OS. For example, AFAIK it could be tricky to run old Mac apps on newer Mac OS. For windows, you also need to sign your installer with valid and non-expired digital signature if you don't want your user complain it's marked as suspicious by the OS or antivirus.
Yeah but you could delegate all of this to other developers if you coins is successful and not give a damn about it, look at what Buttercup did with ETH, dogecoin is also running fine, let the other guys deal with wallets and clients. I don't remember doge having any major update since the merge mining and that was what, two years after launch? And no, I don't consider BIP44 anything major, before you even ask! 8)
Simplicity always wins the race!
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Technically it's still alive since new block still created and you can trade it on exchange.
Even though it's still alive and listed on a few exchanges, I don't think anyone buys this to hold it or expect something big from it. As I can see, you can trade it on only a few unnamed exchanges, and the volume is too low. The all-time high was around $500 after the fork, and then it crashed directly because 80% of the people dumped it on exchanges because they got it for free. They don't need a coin that is trying to clone the original one. It even touched five dollars at some point and is currently trading in 45 dollar range. People are still trading it because of the curiosity they have about Bitcoin. Most of them trading it without knowing that it's not the real Bitcoin.
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Technically it's still alive since new block still created and you can trade it on exchange.
Even though it's still alive and listed on a few exchanges, I don't think anyone buys this to hold it or expect something big from it. As I can see, you can trade it on only a few unnamed exchanges, and the volume is too low. The all-time high was around $500 after the fork, and then it crashed directly because 80% of the people dumped it on exchanges because they got it for free. They don't need a coin that is trying to clone the original one. It even touched five dollars at some point and is currently trading in 45 dollar range. People are still trading it because of the curiosity they have about Bitcoin. Most of them trading it without knowing that it's not the real Bitcoin.
You're mostly right, but i expect majority trader know BTG isn't real Bitcoin since there's almost no promotion about BTG these days. Besides, it's also true for most cryptocurrency out there.
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Even though it's still alive and listed on a few exchanges, I don't think anyone buys this to hold it or expect something big from it. As I can see, you can trade it on only a few unnamed exchanges, and the volume is too low. The all-time high was around $500 after the fork, and then it crashed directly because 80% of the people dumped it on exchanges because they got it for free. They don't need a coin that is trying to clone the original one.
EDITED!!!
Scratch all the previous answers, with all those clones I made the math for BSV...
This is the other fake shitcoin..
So, back from zero, it's technically $40k getting mined at current coin levels a day and that means something really weird is happening since if miners do get those coins they either hold on to them (why...?) of dump them, so if the market is able to absorb 40k a day on those low volumes, does this means there is demand???
Could it be that upbit volume is not fake?
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So, back from zero, it's technically $40k getting mined at current coin levels a day and that means something really weird is happening since if miners do get those coins they either hold on to them (why...?) of dump them, so if the market is able to absorb 40k a day on those low volumes, does this means there is demand???
Could it be that upbit volume is not fake?
I guess they get the volume just because they are listed on exchanges. No matter what coin/token it is. People will buy and sell them to make some money even if it's just an unnamed shit token. This coin has an advantage with its name. People buy and sell it just because of the name. I am sure a lot of newbies traders get confused when they see something named Bitcoin, and it's trading in the $45 range. So, $40K a day is nothing, to be honest. That's why scammers (Shit token developers) can make money by selling their token which does not have a limit.